Korean Air chairman facing embezzlement charges
Korean Air chairman Cho Yang-ho has been indicted on embezzlement charges and will stand trial accused of pocketing KRW19.6 billion (USD17 million).
Prosecutors allege Cho siphoned off the money in fees generated by the carrier from its maintenance and duty-free businesses over the past five years.
It is just the latest scandal involving the Cho family to rock the airline as the government gets tough on corporate crime and intimidation.
Cho had been previously investigated over evading tax but charges were dropped as the time limit for a prosecution had passed.
Authorities began looking closer at the airline’s business practises after two of Cho’s daughters – both executives at Korean Air – were both embroiled in rage incidents.
Cho’s eldest daughter generated worldwide scorn in 2014 for forcing a plane she was on to return to the gate in New York after she took offence about how a packet of nuts were served.
A younger daughter was reprimanded for throwing water in the face of an ad agency worker during a heated business meeting.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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