[THE INVESTOR] The former head of Korea’s leading tobacco-maker was acquitted of kickback charges by a Seoul court due to lack of credible evidence on June 23.

Min Young-jin, who headed KT&G from 2010 to 2015, was accused of receiving some 179 million won (US$151,000) in bribes from subcontractors, a company official and a foreign buyer between 2009 and 2012.

The Seoul Central District Court also acquitted him of allegations that he gave some 600 million won in bribes to a government official for business favors.

Following the court’s decision, Min, who had been in custody since December, was released.

Min, 57, is among several current and former executives of the tobacco-maker who are involved in the prosecution’s probe over alleged irregularities. He resigned in July when prosecutors launched the investigation.

(theinvestor@heraldcorp.com)