Allegations of tax evasion and embezzlement are being investigated – the latest in a long list of scandals.
A team of 30 investigators have raided the offices of Korean Air in Seoul today as pressure mounts on one of South Korea’s richest families.
Adding to a long list of allegations and complaints that the family and the airline have been facing are now tax evasion and embezzlement, deepening turmoil at the Cho business dynasty already tainted by a series of scandals, Bloomberg reports.
The investigators seized documents from the offices of the company headed by Chairman Cho Yang-ho but refused to say anything more than that the investigation was continuing.
The raids are part of a trend of rising scrutiny by President Moon Jae-in’s administration into family-run conglomerates. Moon has promised to put a stop to the close ties between government and business in Korea.
The raid comes soon after widespread reports of bad behaviour by various members of the Cho family at Korean Air and in other affairs of the parent company Hanjin Group. These include the infamous “nut rage” and “water rage” incidents and allegations surrounding the behaviour of Cho’s wife.
The raid also follows a complaint by authorities that Cho, 69, has not paid taxes on a family inheritance, and the family allegedly embezzled millions from the company.