Update: Request for Arrest of Hanjin Group’s Chair Denied

The Seoul District Prosecutor’s Office rejected the request for the arrest of the Chairman of Hanjin Group, Cho Yang-ho, Yonhap news agency reports.

The arrest was being sought on the grounds of an alleged breach of trust and misappropriation of funds from Korea Air Lines, part of Hanjin Group.

Specifically, Cho is suspected of using around USD 2.6 million for private purposes, including renovation of his home. Cho has denied the claims, according to local media.

Furthermore, the prosecutor said that more evidence needs to be provided to support the charges.

The group also included the defunct shipping company Hanjin Shipping, which was officially declared bankrupt by the Seoul Central District Court on February 17, ending its 40-year history.

Cho has presided over Hanjin Shipping during its demise, which has had a ripple effect on the container shipping business.

World Maritime News Staff

Share this article

Follow World Maritime News

In Depth>

Events>

<< Aug 2019 >>
MTWTFSS
29 30 31 1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30 31 1

CruiseConnect Global 2019

Attend CrewConnect Global and stay on for the CruiseConnect Summit to take part in an industry-wide conversation focused…

read more >

CEDA Dredging Days 2019

CEDA Dredging Days programme will follow its successful format of contributed peer-reviewed…

read more >

Offshore Wind Europe 2019

#OWEU19 is a meeting place for governments, developers and suppliers to grow the confidence in wind power. Perfect to grow your business by securing new customers, meeting officials and industry heads.

read more >

6th Mozambique Gas Summit & Exhibit

This year’s edition will have a revamped programme for attendees.

read more >