South Korea police raid Korean Air headquarters in embezzlement probe
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
[SEOUL] South Korean police said on Friday it raided the headquarters of Korean Air Lines Co Ltd as part of an investigation into embezzlement and breach of trust.
A police official said it was a probe into allegations that company funds were used to pay for construction work at the home of Korean Air Chairman Cho Yang-ho. But he added that the investigation has not yet determined who the suspects were.
A Korean Air spokesman declined to comment. The firm's shares extended losses on the news to be down three per cent as of 0524 GMT.
REUTERS
Share with us your feedback on BT's products and services
TRENDING NOW
Autobahn Rent A Car directors declared bankrupt over S$50 million each owed to DBS
Higher costs, lower returns: Why are Singaporeans still betting on real estate?
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
Loyang Valley sold for S$880 million to SingHaiyi-led consortium
