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South Korean officials raided Korean Air headquarters for misappropriation of family property




SEOUL (Reuters) – South Korean prosecutors have attacked Korean Air Lines Co Ltd's headquarters for alleged embezzlement and breach of trust by members of its own family, the Yonhap News Agency reported Thursday.

A company spokesman told Reuters that an investigation team was at headquarters, but declined to comment. A spokesman for the prosecution could not be reached immediately for an opinion.

The investigation is the most recent study of the aircraft carrier family, which was scrutinized in April after chairman Cho Hyun-min's daughter reportedly poured water at a business meeting.

Cho Hyun-min is Heather Cho's younger sister, who was arrested in 201

4 for demanding the return of a Korean plane at a New York airport after losing control when she went crazy in first grade.

The Seoul District Procuratorate is currently investigating allegations of tax evasion, embezzlement and breach of trust by Korean Air Force Chairman Cho Yang-ho and family members, Yonhap said, citing sources of prosecution.

The prosecution began investigating possible family tax evasion after the Seoul Bureau had questioned the South Korean tax authorities as to whether Chairman Cho paid taxes on his father's overseas assets, Yonhap said.

Prosecutors are also tracking suspicious cash flows within the accounts of Cho family members and employees, Yonhap reported.

Chairman Cho stepped down from his post as co-chief executive at subsidiary Jin Air Co Ltd. earlier this month. back as public pressure for Cho family members grew to step down from leadership positions.

(Reporting by Haejin Choi; Additional Reporting and Writing by Joyce Lee; Editing by Stephen Coates and Christopher Cushing)


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