• SKorea police seek arrest warrant for Hanjin chief


    SEOUL: South Korean police on Monday sought an arrest warrant for the chairman of Hanjin Group—a former chief organizer of the 2018 Winter Olympics—for embezzling millions of dollars of company funds. Cho Yang-Ho is under investigation for allegedly using three billion won (US$2.65 million) allotted for the construction of a new hotel to pay for the remodeling of his house in 2013. An arrest warrant has been requested on charges of breach of trust, a police official said. Hanjin Group is one of South Korea’s largest companies and the parent of Korean Air, the country’s flag carrier. But it has faced repeated troubles in recent years. Its sea transport arm Hanjin Shipping—once the seventh-largest in the world—was declared bankrupt in February. Cho last year stepped down from heading the organizing committee for the 2018 Winter Olympics in South Korea to address the “critical financial issues” at the unit. His daughter Cho Hyun-Ah was jailed in 2014 following a meltdown on board a Seoul-bound Korean Air flight that had just left the gate in New York. As the plane was taxiing to the runway, Cho, sitting in first class, became enraged when a flight attendant served her some nuts in a bag, rather than on a plate.



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