By Cho Jae-hyon
The prosecution will summon SK Group Chairman Chey Tae-won Monday to question him over allegations that he embezzled 100 billion won ($87 million) worth of corporate funds in collusion with his younger brother.
The summons came days after his brother Jae-won, vice chairman of the group, was questioned two times on Dec. 1 and 7. It is said that the younger brother has admitted to some claims, reversing his earlier denial of the embezzlement charges.
The two brothers are suspected of having colluded to embezzle part of 280 billion won earmarked by 18 SK affiliates for investment purposes. Prosecutors believe they misappropriated the money to offset about 300 billion won in losses from the chairman's investments in stock futures.
It will be the first time in about eight years that the head of the nation’s third-largest conglomerate will be summoned by the prosecution. In January, 2004, Shon Gil-seung, then chairman of the group, was called in over illicit business practices.
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