The head of South Korean flag carrier Korean Air Lines Co — whose family have been embroiled in multiple scandals including one involving macadamia nuts — was yesterday indicted on charges of embezzling tens of millions of US dollars and other offenses.
Prosecutors charged chairman Cho Yang-ho with embezzling more than 20 billion won (US$18 million) and unfairly awarding contracts to companies controlled by his family members, Yonhap news agency said.
The super-wealthy owners of chaebols — the sprawling conglomerates that dominate the world’s 11th-largest economy — often attract controversy, but a series of scandals have made the Cho family one of the most notorious in South Korea.
Photo: Reuters
Cho is the chairman of Hanjin Group, which includes Korean Air and used to own the now-bankrupt Hanjin Shipping line.
He was also head of the organizing committee for the 2018 Pyeongchang Winter Olympics until stepping down two years before the Games.
The 69-year-old is also accused of taking 152 billion won from the state insurance agency in medical care benefits by illegally running a pharmacy under a borrowed name.
Initially, Cho was accused of evading inheritance tax of about 61 billion won when his father, Hanjin’s founder, died in 2002, but prosecutors said the statute of limitations had expired in 2014.
The date for Cho’s trial was not set and he was not detained ahead of the proceedings.
His two daughters, who held management positions at Korean Air, previously became viral sensations for temper tantrums dubbed the “nut rage” and “water rage” scandals, forcing Cho to issue a public apology and remove them from their posts.
Their mother, Lee Myung-hee, has been questioned by police several times in connection with allegations of assault against her employees including cursing, kicking, slapping and even throwing a pair of scissors.
Cho has already had brushes with the law, receiving a suspended jail sentence for tax evasion in 2000, and is awaiting a separate trial for diverting 30 billion won of company funds for renovating his house.
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