J ESCOM HOLDINGS,INC. [3779.T]
TOKYO, May 22 (Pulse News Wire) – J Escom Holdings,inc. (3779.T) announced today that its subsidiary, Smartcon Inc., received the final judgment in a damages lawsuit filed against Pak Myung Ok.
The decision was handed down on May 21, 2026, by the Seoul High Court. In the lawsuit initiated by Smartcon Inc. due to fraudulent transactions, the court ruled that Pak Myung Ok must pay approximately $1.1 million (¥147 million Korean won) plus interest at an annual rate of 5% until repayment is completed. Additionally, Smartcon Inc.
Must bear 75% of the litigation costs while Pak Myung Ok covers 25%. This ruling overturns part of the initial judgment, which had ordered Pak Myung Ok to pay approximately $0.9 million (¥98 million Korean won). However, the appeal also dismissed Smartcon Inc.'s other claims and Pak Myung Ok's counterclaims. Regarding future actions, J ESCOM HOLDINGS stated it is consulting with legal counsel but expects limited impact on performance since the related debt has already been fully recognized as a loss.
The company plans to pursue recovery of the debt and will promptly disclose any further developments.
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