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[Alpha Biz=(Chicago) Reporter Kim Jisun] On the date of the first hearing on the division of inherited property filed by three mothers and daughters of the LG family against LG Group Chairman Koo Kwang-mo, Koo claimed, "The result of the succession is the will of the previous chairman."
The Civil Affairs Department 11 (The senior judge Park Tae-il) at the Seoul Western District Court held the first hearing of an inheritance recovery suit filed by Kim Young-sik, the wife of the late former chairman Koo Bon-moo, his two daughters Koo Yeon-kyung and Koo Yeon-soo, and held a questioning against LG President Ha Beom-jong, who was present as a witness.
During the witness questioning process, the issue was whether the three mothers and daughters recognized the contents of the document containing former chairman Koo's maintenance. In response, the plaintiffs claimed, "Kim Young-sik and Koo Yeon-kyung were deceived that they had a will that Chairman Koo would inherit all LG shares, which led them to draw up an agreement."
"Under the principle of succession of the eldest son, there is a split agreement that includes the consent of all the heirs, there has been no problem in the writing process, and no one has raised any questions for four years," Chairman Koo said.
Earlier, Kim and his two daughters filed a lawsuit with the Western District Court on Feb. 28 this year against Koo, asking him to "divide the inherited property again." Former chairman Koo, who passed away in May 2018, left a total of 2 trillion won, including 11.28% of LG shares.
Koo inherited 8.76% of Koo's 11.28% stake, while his three mother and daughters received inheritance worth 500 billion won, including some LG shares (2.01% for Koo and 0.51% for Koo) and Koo's personal assets such as financial investment products, real estate and artworks.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
