Law-enforcement officers swoop on Korean Air Lines offices
Seoul – South Korean prosecutors raided the Korean Air Lines Co Limited headquarters yesterday over suspected tax evasion, embezzlement and breach of trust by members of its founding family, in what has become the broadest-ever chaebol probe.
The investigation is the latest involving the family-controlled conglomerate after a tantrum in April by the chairperson’s daughter reignited public resentment toward the perceived unchecked behaviour of chaebols’ powerful family-owners.
Cho Hyun-min’s alleged throwing of a drink at a businessperson sparked protests which, coupled with a liberal government willing to pursue wrongdoing among the elite, has led to an unprecedented number of family members being subject to multiple investigations, analysts said.
Cho is the younger sister of Heather Cho. Heather was jailed in 2014 after losing her temper over the way she was served nuts in a first class cabin.
Meanwhile, separately yesterday, police sought an arrest warrant for matriarch Lee Myung-hee on assault charges.
Economics professor Park Sang-in said workers at Korean Air Lines coming forward against the owner-family has particularly fuelled the probes. “The family appears to have a lot of issues, as one investigation is leading to another, supported by testimonies from workers.”
Park said: “Family members running conglomerates are now more cautious about any emperor-style management.” – Reuters