[Property under borrowed names] Agricultural cooperative and church members used to increase family property?

1. What has been falsely reported?

Multiple media outlets published false reports with claims related to the status of the late chairman Yoo Byung-eun, such as, 'The Agricultural Cooperative and church members were used to increase family property.' Through discussions with the Press Arbitration Commission and those directly related to the press, the media was corrected or deleted. Examples of false reports are as follows:

 

2. Reports vs. Facts

 

Agricultural cooperative and church members were used to increase family property.

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The land owned by the farming corporation is owned by members of the Korean  Evangelical Baptist Church for the cultivation of organic agricultural products, and there is no truth in the statement that this was disguised by Chairman Yoo’s family. Further, it is not true that profits from the Agricultural cooperative went to the family of former Chairman Yoo.

 

 

 

 

 

3. Related corrections and counter-arguments

<Gwangju Ilbo, November 02, 2014>

[A counter-argument report related to  “Ownership of the Evangelical Baptist Church’s Agricultural Cooperative”]

In an article from the past April 28th online newspaper titled, “[Sewol ferry disaster - spurs search and seizure investigation],  Unreasonable ship expansion and poor initial management,” by ‘Jeong Jo Joon’”, they reported “Currently, Chairman Yoo's family is under suspicion of possessing land under the disguise of an agricultural cooperative. As a farming corporation, they would have no restrictions on the purchase of farmland and would be exempt from acquisition and income tax, and so, the former Chairman Yoo’s family is being suspected of leading the association to increase their wealth.” In response, the Evangelical Baptist Church has revealed that the land owned by the corresponding farming corporation is owned by members of the Evangelical Baptist Church for the cultivation of organic agricultural products, and thus, there is no truth in the statement that this was disguised by Chairman Yoo's family. This article was revised following the Press Arbitration Commission.

 

 

<Sky Daily March 5, 2018>

A counter-argument report regarding the late Chairman Yoo Byung-eun

A counter-argument report regarding the late Chairman Yoo-Byung-eun

on the article written in the ‘Real Estate’ section of our internet newspaper on July 31, 2017, which was titled, “The famous royal family during the days of MB and Park Geun-hye,'Billionaire fantasy island.'” They reported that “The late Chairman Yoo’s family is suspected on many grounds of being the true owners of all of the property relating to the Agricultural Cooperative,” and “The true owner of the Agricultural Cooperative is the late Chairman Yoo’s family.” After confirming the truth, we were informed that former Chairman Yoo Byung-eun was not the owner of the Agricultural Cooperative. This will correct the report.

 

 

<YTN April 24, 2014>

[A counter-argument report regarding the Korean Evangelical Baptist Church and the late Chairman Yoo Byung-eun]

In the above article, YTN reported that `the late Chairman Yoo Byung-eun is the true  owner of Chonghaejin Marine Co.'' but representatives of Chairman Yoo’s family informed us that he did not own any shares in Chonghaejin Marine Co., nor in Chonhaiji Co, or I-One-I Holdings in the name of former Chairman Yoo. Representatives of the bereaved family informed us regarding the YTN reports that claims that “Suspicions are becoming greater that the former chairman Yoo’s family used the Agricultural Cooperatives and the members of the church to increase their wealth” are false.

 

 

 

 

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