SEOUL (REUTERS) - South Korean police are seeking an arrest warrant for Cho Yang Ho, chairman of Hanjin Group, the parent of Korean Air Lines, on charges of breach of trust following their probe into construction work at his house, a police official said on Monday (Oct 16).
In July, police raided the headquarters of Korean Air Lines, South Korea's top airline, as part of an investigation into allegations that company funds were used to pay for the renovation work at Cho's home.
A Korean Air spokesman declined to comment.
In August, South Korean police raided a management office for residences of Samsung Electronics Chairman Lee Kun Hee and his family over alleged misappropriation of company funds used to pay for interior renovations.
A series of probes had taken place after President Moon Jae In came to power in May on the back of promises to reform the opaque "chaebol" business empires which dominate Asia's fourth-biggest economy.