April 26, 2024

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[THE INVESTOR] SPC Group announced on Aug. 7 that it is sacking Vice President Hur Hee-soo, who is also Chairman Hur Young-in’s son, after he was arrested for allegedly smuggling and smoking liquid marijuana.

Prosecutors are investigating the details, including whether he had an accomplice.

 

SPC Vice President Hur Hee-soo

“We apologize for the disgraceful incident,” SPC Group said in a statement. “Vice President Hur has been dismissed from the group, and will be permanently excluded from management.”

Hee-soo joined the firm in 2007. In 2016, a year after his elder brother became the group vice president, he was promoted to a similar position. Industry sources anticipated that the two brothers would fight for taking control of management, but after the news broke out of his misdemeanor, it is highly likely that his brother Hur Jin-soo will be confirmed as SPC Group heir.

Although the chairman has never given any indication of who he has in mind to take over the group Hee-soo was considered the more likely candidate as he was behind the success of US-based hamburger chain Shake Shack in Korea. On the opening day of the first store in Gangnam district in 2016, hundreds of people lined up to taste the delicacies. The store is said have posted the highest sales last year among 120 outlets worldwide.

By Song Seung-hyun (ssh@heraldcorp.com)