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.