Lee Woon-kyung, a former advisor to Namyang Dairy and spouse of former chairman Hong Won-sik, is under police investigation for embezzlement involving approximately 858 million won.
According to industry sources on September 15, the Gangnam Police Station in Seoul has recently charged Lee under the Act on the Aggravated Punishment of Specific Economic Crimes. Namyang Dairy submitted a complaint against Lee on September 8 and publicly disclosed this information. The amount in question is 857,980,000 won.
Namyang Dairy alleges that Lee used company funds to make donations and sponsorships to cultural, artistic, and social organizations while serving in significant roles in these entities. The charges also include expenses related to Lee's external activities, such as corporate credit card payments and travel costs.
Organizations mentioned include the Korean Association of Soroptimist International, Sejong Soloists, the Korean Contemporary Art Association, and the Beautiful Foundation. Lee has held key positions such as president, chairperson, and vice-chairperson in these organizations.
The critical issue is whether these expenditures can be classified as part of the company's social contribution and management activities. Lee's representatives argue that similar allegations were previously dismissed by prosecutors as part of social contribution activities. The police investigation will focus on whether the funds were used for legitimate company expenses or for Lee's personal external activities.
Separately, Lee is also under investigation for purchasing a high-end sofa worth 150 million won with company funds and storing it at her home.
Lee is accused of spending approximately 154 million won to buy a Pierre Jeanneret sofa under the pretext of placing it in a Namyang Dairy restaurant. Although the sofa was recorded as a company asset, it has not been installed in any restaurant, according to reports. Police have reportedly secured the actual sofa stored at Lee's residence during their investigation.
Earlier this year, Lee was sentenced to two years and six months in prison, suspended for four years, for using approximately 3.7 billion won in company funds for personal expenses, including luxury purchases and vehicle maintenance. An appeal is currently underway.
Consequently, Lee is facing investigations for both the 858 million won in cultural, artistic, and social organization fund usage and the purchase of the 154 million won sofa while also appealing the previous conviction for personal use of company funds.
Namyang Dairy stated that following a change in management in 2024, they have been reviewing past company fund usage and have confirmed additional relevant facts.
A Namyang Dairy representative said, "Since the management change in 2024, we have been continuously reviewing past company fund usage, and if any damage to the company is confirmed, we will take necessary legal action. We will also cooperate fully with the investigation authorities."
* This article has been translated by AI.
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