South Korea newspaper owner arrested for embezzlement
SEOUL (AFP) - Police have arrested the chairman of one of South Korea's major newspapers on charges of embezzling millions of dollars, prosecutors said on Tuesday.
Chang Jae Ku, owner of the Hankook Ilbo media group which includes several well-known dailies, magazines and a cable channel, was arrested on Monday night.
Chang, 65, is accused of embezzling company funds worth 13 billion won (S$14.7 million) for his personal use and causing the group a further financial loss of 30 billion won by offering business benefits to his creditors.
The labour union of the Hankook Ilbo - the group's flagship newspaper - had asked Seoul prosecutors to investigate Chang back in April.