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Park Young-woo, Chairman of Dayou Winia Group. (Photo courtesy of Yonhap News) |
[Alpha Biz= Paul Lee] Seoul – The Suwon High Court has granted bail to Park Young-woo, former chairman of Dayou Winia, who had been sentenced to prison for failing to pay hundreds of billions of won in wages and severance to employees.
On September 1, the court’s Criminal Division 2-3 approved Park’s bail application. Park had previously been convicted in the first trial and sentenced to four years in prison for withholding approximately KRW 47 billion (USD 34 million) in wages and severance payments owed to more than 800 employees of Winia Electronics and affiliated companies.
The case has drawn attention as one of the largest wage arrears scandals in South Korea, underscoring corporate governance and labor rights concerns.
Meanwhile, among the group’s three home appliance units, only Winia Co., the producer of kimchi refrigerators, remains operational after Winia Electronics and Winia Electronics Manufacturing were declared bankrupt.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
