Arrest warrant sought for Korean Air chief on embezzlement, tax irregularities
Social affairsJul 2, 2018
Prosecutors sought an arrest warrant for Korean Air Lines Co. Chairman Cho Yang-ho on Monday on charges that include embezzlement and failure to report overseas assets.Cho, 69, has been under investigation over suspicion that he dodged over 50 billion won ($45 million) worth of inheritance tax and embezzled some 20 billion won from company funds by unfairly awarding business contracts to companies controlled by his family. Prosecutors believe he failed to report to tax authorities about his over