Police summon ex-Taekwang chief over allegations of embezzlement

Former Taekwang Group Chairman Lee Ho-jin /Yonhap

Police summoned former Taekwang Group Chairman Lee Ho-jin, Saturday, to look into allegations of embezzlement and breach of trust, officials said.

Lee has been under investigation on suspicion of creating a slush fund of over 2 billion won ($1.5 million) through affiliates of the textile-to-media conglomerate.

The summons comes after police raided Lee's home and Taekwaong Country Club in Yongin, south of Seoul, and placed an overseas travel ban on the former chairman.

Lee had formerly served a three-year prison term for embezzlement, breach of trust and tax evasion before being released in October 2021. (Yonhap)