top of page
Search

Former LD Carbon executives accused of fraud

  • Writer: Notch
    Notch
  • 13 minutes ago
  • 1 min read

LD Carbon, a South Korean tire pyrolysis company, has filed a criminal complaint against its former chief executive and two senior finance officials, accusing them of embezzling corporate funds and misuse of government subsidies. The complaint was filed to the Suseo Police Station in Seoul and names former CEO Hwang Yong-kyung, CFO Lee Chung-jin, and Finance Manager Han Seung-yeon as suspects in an alleged scheme dating to 2022/2023. The charges involve unauthorized financial bonuses and salary kickbacks and followed the company's Series A funding round in 2022, which raised KRW 18.5 billion (US$14.7M). Following the complaint, a probe has been initiated.



 
 
 

Recent Posts

See All
Goodyear to close Fayettville

Tire Business reports that Goodyear plans to shut down its tire plant in Fayetteville, NC by the end of 2027, a decision that will idle more than 2,000 workers. Details of the closure are still under

 
 
 
Cabot announces carbon black plant closures

European Rubber Journal reports today that Cabot plans to shut down its carbon black plant in Campana, Argentina and cease production on several lines at its carbon black plant in Botlek, Netherlands.

 
 
 
Orion seeks silver lining in Mideast tension

ERJ has an article highlighting recent comments by Orion SA's CEO Corning Painter regarding potential impacts of the geopolitical disruption in the Middle East on carbon black markets. While cautionin

 
 
 

Comments

bottom of page