From an Asia Economy report dated June 5, 2018.
"Minority shareholders of Taeyang, the KOSDAQ-listed company known for the 'Sunfuel' butane gas brand, have brought a derivative suit against chief executive Chang-soo Hyun. According to industry sources on the 5th, Taeyang minority shareholders comprising Jaesun Yoon and six others brought a derivative suit last month seeking approximately KRW 42.3 billion in damages from CEO Hyun (a KRW 15.96 billion fine plus KRW 26.3 billion for usurpation of corporate opportunities and other matters). A derivative suit is one in which shareholders pursue a director's liability on the company's behalf, with the judgment taking effect for the company. If the shareholders win, the damages accrue to the company."
"In 2015 Taeyang was fined KRW 15.96 billion by the Fair Trade Commission for fixing prices with other butane gas manufacturers and sellers between 2007 and 2012. The Commission characterized the collusion as a 'very serious violation' and calculated the fine using a 7% base rate. Taeyang sued to have the fine revoked as improper, but lost. Attorney Seunghoon Chae, counsel for the plaintiffs, said: 'He was himself a party to the collusion, agreeing on portable butane gas prices with the heads of other companies and having his sales director implement it,' adding, 'That is an intentional violation of the law.'"
"The plaintiffs also claim that Taeyang divided up the market arbitrarily, causing loss to shareholders. According to the complaint, CEO Hyun arranged for Sean (unlisted), in which he is the majority shareholder, to supply portable butane gas only to the greater Seoul area and the regions south of Chungcheong, while Taeyang covered the remaining regions and export volumes.
Attorney Chae said, 'He usurped Taeyang's business opportunity for Sean, a company under his control.' CEO Hyun holds 91.12% of Sean."