Police Search Korean Air Office as Moon Gets Tough on Conglomerates
- Chairman Cho Yang-ho accused of misusing company funds
- Spokesman says carrier will cooperate in the investigation
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South Korea’s police raided the head office of Korean Air Lines Co. in Seoul on Friday to probe alleged misuse of company funds, the first crackdown on a major local conglomerate after President Moon Jae-in came to power in May.
Police are investigating allegations that Chairman Cho Yang-ho, the head of Hanjin Group that controls Korean Air, had interior work done in his house between May 2013 and August 2014 and passed on the expenses to a hotel that was being built around the same time near the Incheon airport, the Korean National Police Agency said in a statement Friday. Korean Air will cooperate with the probe, a representative said, declining to elaborate.