Former SLS Group Chairman Lee Kook-chul lately filed a lawsuit with the Seoul Central District Prosecutors’ Workplace through which 49 individuals have been indicted. This quantity consists of Min Ryu-sung, former President of KDB, and Yoo Chang-woo, former President of KTIC.
In keeping with paperwork submitted by Lee Kook-chul, in 2009, SLS Shipbuilding obtained a complete of 77 ship orders from home and overseas clients. Nonetheless, the defendants Min and Yoo permitted the development of solely 30 of the 77 ship orders on the grounds of company restructuring, and the remaining 47 vessels had been to be withdrawn from the shipbuilding contracts. This then resulted in SLS incurring whole losses equal to US$1.2 billion, which additionally consists of the curiosity accrued on the 47 cancelled vessels.
