celebrity.estateAn EGRET.LAW propertyWorld map3D timeline
Home / Divorce and feuds / A Doosan heir exposed his brothers' slush fund to win the chairmanship, was cast out of the…
Case file s419 · Divorce and feuds · 2009
2009
Died
Park Yong-oh, November 4, 2009
Place
Seoul, South Korea
Field
industrial conglomerate · Business and finance on the timeline
Legal tradition
Korean civil and criminal law · Civil law · Chinese and East Asian law
Historical event
Korea's 2005 chaebol governance reckoning
AI illustration: A Seoul boardroom with an empty chairman's chair, 2009
Illustration made with AI for celebrity.estate.

A Doosan heir exposed his brothers' slush fund to win the chairmanship, was cast out of the family, and died by suicide

Doosan Group was run in turn by the sons of its founding family. In July 2005 the eldest brother, honorary chairman Park Yong-kon, named Park Yong-sung as the next group chairman. Park Yong-oh, the former chairman, protested and disclosed illegal practices inside Doosan. Prosecutors found that three brothers had worked together from 1995 to create a 32.5 billion won ($31 million) slush fund by overpaying construction contractors and routing the excess back. Doosan paid a 2 billion won fine. Park Yong-sung stepped down and received a suspended three-year sentence. Park Yong-oh was also convicted and given a suspended sentence. He and his two sons were cut off by the family. In 2009 he was chairman of Sungjee Construction, which had business setbacks, and his son was under investigation for stock manipulation. Police found him hanged in his Seoul apartment. Doosan's share price did not move. The family later restored him to its genealogy and Doosan's leadership passed to the next generation†.

What the law took from it

Exposing the family's secrets can win an argument and still lose the family.

Cite as: celebrity.estate, “A Doosan heir exposed his brothers' slush fund to win the chairmanship, was cast out of the family, and died by suicide,” story s419, https://www.celebrity.estate/a-doosan-heir-exposed-his-brothers-2009, updated 30 October 2026.

Related cases

Each one shares a person, a kind of fight, a subject, a period or a place with this case. The line under each headline says which.

AI illustration: A petrochemical complex on the Taiwan coast2008 · Taipei and BermudaFormosa Plastics' founder died without a will, and his son sued to unwind $15 billion placed in Bermuda trustsShared: also Divorce and feuds; 1 year apart; also East AsiaWang Yung-ching founded Formosa Plastics and became one of Taiwan's richest men. He died in 2008 in New Jersey, reportedly without a will. Much of his wealth had been moved into Bermuda trusts holding Formosa Plastics shares.Internet Archive and 3 moreAI illustration: The Supreme Court of Korea in Seoul2015 · SeoulA Korean court ordered SK Group's chairman to pay his ex-wife 1.38 trillion won, and the Supreme Court threw it outShared: also Divorce and feuds; 6 years apart; also East AsiaChey Tae-won, chairman of SK Group, married Roh Soh-yeong, daughter of former president Roh Tae-woo, in 1988. They separated in 2011.BBC and 3 moreAI illustration: Lotte World Tower above the Seoul skyline2020 · Tokyo and SeoulLotte's 93-year-old founder fired his younger son, the shareholders kept the son, and a court put the father under guardianshipShared: also Divorce and feuds; 11 years apart; also East AsiaShin Kyuk-ho founded Lotte in Japan and built it into a conglomerate controlled through Tokyo-based Lotte Holdings. His elder son, Shin Dong-joo, ran the Japanese side; his younger son, Shin Dong-bin, ran Korea.The Korea Herald and 2 moreAI illustration: Airliners at Incheon International Airport, 20192019 · SeoulKorean Air's "nut rage" heiress joined an activist fund to oust her brother, and lost the shareholder voteShared: also Divorce and feuds; 10 years apart; also East AsiaCho Yang-ho, chairman of Hanjin Group and Korean Air, died in 2019, and his son Cho Won-tae became chairman.The Korea Times and 2 moreAI illustration: The International Commerce Centre tower above Hong Kong harbour at night2018 · Hong KongSun Hung Kai's chairman was removed by his mother and brothers, who said he was mentally ill, and cut from the family trustShared: also Divorce and feuds; 9 years apart; also East AsiaKwok Tak-seng founded Sun Hung Kai Properties and left control in a family trust. His eldest son Walter Kwok became chairman, with brothers Thomas and Raymond as vice-chairmen.familybusinessmagazine.com and 2 moreAI illustration: A pharmaceutical factory in Punjab, India, 20162016 · New Delhi and SingaporeThe Ranbaxy brothers sold their drug company for billions, owed the buyer Rs 3,500 crore, and were arrested over their lenderShared: also Divorce and feuds; 7 years apart; also East AsiaMalvinder and Shivinder Singh inherited control of Ranbaxy, India's largest drugmaker, and sold it to Japan's Daiichi Sankyo in 2008.scroll.in and 2 more