Former Hanjin chairman faces prosecutors’ insider trading charges

Choi Eun-young, the former head of Hanjin Shipping, appeared before prosecutors in Seoul today, accused of insider trading.

Choi, and her daughters, sold their stockholding in the Korean line days ahead of the company announcing a resturcuting, with prosectors convinced the sell off came from a tip off from sources within the shipping line.

“I will fully cooperate with the investigation,” she told reporters before entering the prosecutor’s office.

Choi’s home and offices have been raided earlier in the year, and prosecutors have also been talking to officials at Hanjin Shipping as they pursue their insider trading investigations.