The head of Hanjin Shipping Holdings Co., South Korea's leading shipping conglomerate, has been found to be among the few that have a shell company in a tax haven, an independent news media said Monday, as it released its second list of overseas ghost-firm owners suggesting possible tax evasion or existence of slush funds.
Choi Eun-young, the chairwoman of the shipping giant, and its former chief executive Cho Yong-min, were included in the seven names of high-profile Korean business leaders who have established a paper company in the Virgin Islands and the Cook Islands, according to the Korea Center for Investigative Journalism (KCIJ).