Korea Aerospace CEO Resigns as Prosecutors Probe Chopper Project
- A helicopter project of the company is under investigation
- The aircraft maker is a unit of the Exim Bank of South Korea
This article is for subscribers only.
Korea Aerospace Industries Ltd., the country’s only aircraft maker, said Chief Executive Officer Ha Sung-yong will resign, taking responsibility for the “recent incidents” that led prosecutors to search its offices last week.
Ha will submit his resignation letter at a board meeting Thursday afternoon, and Korea Aerospace plans to ask its shareholders soon to select a replacement, the company said in an emailed statement. Ha was appointed as CEO of the state-owned firm in May 2013. Export-Import Bank of Korea is the biggest shareholder of Korea Aerospace.