Prosecutors question Korean Air chief for tax evasion
Cho Yang-ho, the chairman of Korean Air, appears at the Seoul Southern District Prosecutors Office for questioning Thursday. The Korea TImes photo by Choi Won-sukBy Kim Hyun-binProsecutors grilled Cho Yang-ho, the chairman of Korean Air, for alleged tax evasion, breach of trust and embezzlement, Thursday.Cho appeared at the Seoul Southern District Prosecutors Office at around 9:30 a.m.“I am sorry. I will fully cooperate with the investigation,” he told reportersCho and his sisters are accused of evading over 50 billion won ($44.7 million) in taxes on their inheritance of overseas assets from their father Cho Choong-hoon, the founder of Hanjin Group.Prosecutors also suspect Cho embezzled over 20 billion won, incurring losses for the company, and unfairly awarded contracts to companies controlled by his family members.Cho's wife and children are also under investigation for allegations of assault, smuggling luxury goods and illegally hiring Filipina housekeepers.Prosecutors have been looking into suspicions of the illegal use of company expenses. The company allegedly cover
Jun 28, 2018