Taekwang Union Exposes Workplace Abuse by Former Chairman, Demands Strict Punish

The labor union council of Taekwang Group affiliates (hereinafter referred to as the union) has strongly criticized Kim Ki-yoo, former chairman of the Taekwang Group Management Council, for workplace harassment and unfair personnel practices, demanding strict punishment.

On the 13th, the union released a statement in front of Heungkuk Life Insurance's headquarters in Jongno-gu, Seoul, asserting that Kim severely damaged the group's organizational culture during his tenure with authoritarian behavior, verbal abuse, and unilateral personnel decisions.

The statement release was joined by affiliate unions, including the Taekwang Industrial Petrochemical Union and the Heungkuk Life Insurance Union.

Park Young-dae, chairman of the Taekwang Industrial Petrochemical Union, said, “Kim caused suffering to employees through abusive language and demeaning actions. His tyranny forced many employees to resign or face significant hardship.”

The Heungkuk Life Insurance Union also stated, “Kim's arbitrary personnel decisions without principles and excessive work orders caused severe stress throughout the organization,” adding that some employees even contemplated extreme measures due to psychological distress.

Kim’s major misconducts include the introduction of personnel policies without justification, indiscriminate disciplinary actions, sudden large-scale layoffs, non-payment of performance bonuses, and the forced dismissal of executives.

Meanwhile, Kim is under prosecution investigation for allegedly ordering an improper loan of approximately 15 billion KRW to acquaintances at Taekwang Group affiliates, Korea Savings Bank and Yegarim Savings Bank, last year.


https://www.sankyungtoday.com/news/articleView.html?idxno=49330

Taekwang Union Exposes Workplace Abuse by Former Chairman, Demands Strict Punishment