Hanjin boss accused of misappropriating funds

Hanjin boss accused of misappropriating funds

Police are seeking the arrest of Cho Yang-ho, the CEO of Korean Air Lines and chairman of Hanjin Group, over his alleged misuse of company funds for renovating his home. Cho, who presided over the fall of Hanjin Shipping last year, is accused of siphoning off KRW3bn ($2.65m) to renovate his house in Seoul over a 15-month period from 2013 to 2014. Cho denies the accusations.

The Cho family have had their fair share of skirmishes with the law, most famously in late 2014 when Heather Cho, daughter of the Hanjin tycoon, became embroiled in what infamously became known as the ‘nut rage incident’. Having been dissatisfied with the way a flight attendant in first class served her nuts on the plane, she ordered the Korean Airways aircraft to taxi back to the airport’s gate before takeoff. She was subsequently found guilty in South Korean court of obstructing aviation safety and given a 12-month prison sentence.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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