CASH REWARD TO FIND SEWOL FIRM FAMILY HEAD

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SEOUL: South Korean prosecutors offered a cash reward of almost $50,000 on Thursday for information on a fugitive billionaire wanted in a probe into last month’s ferry disaster that killed hundreds. It came a day after prosecutors raided a religious compound where they believed Yoo Byung-Eun — the reclusive patriarch of the family that owns ferry operator Chonghaejin Marine — was hiding, but failed to find him. They suspect that Yoo, 73, is responsible for unsafe business practices which contributed to the ferry’s sinking last month, including overloading the ship and remodeling it to squeeze in more passengers and cargo. “A cash reward will be provided to those reporting him to authorities,” an official at the prosecutors office in Incheon told Agence France-Presse.

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AFP

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