Derivative suit against Sung Shin Cement Co., Ltd.

   Hit. 557

Sungshin Cement Co., Ltd. (hereinafter referred to as the “Company”) was imposed a penalty surcharge of \43.7 billion by the Fair Trade Commission and a fine of \150 million as a criminal punishment by the court for colluding on the price of cement during the period from March 2011 to April 2013. 

As this contributes to the loss of Company caused by directors, Company’s shareholders have come to file a derivative suit against directors for having engaged in or neglected such collusive acts in accordance with Article 403 of the Commercial Law in order to recover Company’s losses.