The Words of the Elder Family

Korean court orders Tongil Foundation to pay 45.1 billion won to a UCI-owned company

Tim Elder
December 29, 2011
Tongil Foundation

A court in Korea today ordered Tongil Foundation to pay 45.1 billion won ($38,966.66) in damages to Y22, a UCI-owned company that is carrying out a project to develop land in Yoido. Originally, Y22 had sought 70 billion won, claiming that Tongil Foundation had damaged their project by filing suit against them.

Tongil Foundation filed the suit against Y22 to stop Y22 from going ahead with plans to sell buildings that Y22 was planning to build on the Yoido land. A district court ruled against Tongil Foundation in this case, and today's ruling can be seen as a natural outcome of that loss on the district court level.

Tongil Foundation's suit against Y22 has been appealed to the Seoul High Court, where the next hearing is scheduled for Jan. 27.

In a related criminal case filed by the Tongil Foundation against Chung Hwan Kwak, the prosecution has called Chung Hwan Kwak in for questioning on two separate occasions, with each session lasting more than ten hours.

Although disappointing, today's ruling on damages does not affect Tongil Foundation's determination to recover the Yoido Holy Ground in accordance with the desire of True Parents.

A lot of new information is coming to light as the various cases related to this matter move through the courts, and Tongil Foundation remains confident that the entire truth will be revealed. 

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