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| 구광모 LG 회장 (사진=LG) |
[Alpha Biz=(Chicago) Reporter Kim Jisun] It has been confirmed that LG Group Chairman Koo Kwang-mo replied to the court to the effect that "the period of exclusion of the lawsuit has passed" regarding the calculation of the inheritance of late former LG Group Chairman Koo Bon-moo, who is in dispute with his mother and younger sisters.
According to the business community, Koo Kwang-mo's agent submitted a response to the Seoul Western District Court on the 3rd in relation to an inheritance recovery suit filed by Koo's mother, Kim Young-sik, her younger sister Koo Yeon-kyung, head of the LG Welfare Foundation, and Koo Yeon-soo.
The term "exclusion period" means the statutory period during which a right can be exercised. The right to claim the recovery of inheritance shall expire three years after the infringement of the right of inheritance and ten years after the infringement of the right of inheritance.
The inheritance process for LG shares held by former chairman Koo Bon-moo was completed in November 2018. It has been four years since February this year that Mrs. Kim and CEO Koo Yeon-kyung recently filed a lawsuit.
LG says there is no problem as the inheritance process has been completed according to mutual agreement.
Chairman Koo is also said to have included in his answer that "there is no need to review the original bill because it does not meet the requirements for a lawsuit." The court plans to decide whether to proceed with the hearing by compiling opinions from both sides in the future.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
