Korean tycoon's kids lose court fight over millions as judge calls deal abuse

The Suwon District Court declared an inheritance contract void after determining that three adult children coerced their father into signing it during his medical recovery. The businessman had undergone heart surgery and signed the document at 1 a.m. while still experiencing physical weakness from the procedure. His children demanded he transfer all proceeds from his apartment sale within the terms of the April 2023 agreement. The contract required the father to surrender any hidden assets within seven days of discovery. Court officials found this timing and these conditions constituted clear evidence of duress against the vulnerable parent.

The wealthy company founder had previously distributed 1.6 billion won to his children before 2022 and lived with his girlfriend in the disputed apartment after his wife died. The property sold for 2.9 billion won, with 1.8 billion won going toward a new commercial-residential unit that the father legally designated for his grandchildren. His children filed suit demanding the entire sale amount despite his previous generosity. The court referenced Article 103 of the Civil Act, which invalidates agreements that violate public morality and social order. Judges described the children's financial surveillance of their father through company employees as abnormal behavior that likely impaired his decision-making capacity.