Most Popular
-
1
Ador CEO denies allegations, accuses Hybe of mistreating NewJeans
-
2
Korea’s homegrown nanosatellite successfully launches into space
-
3
[Herald Interview] 'Amid aging population, Korea to invite more young professionals from overseas'
![[Herald Interview] 'Amid aging population, Korea to invite more young professionals from overseas'](//res.heraldm.com/phpwas/restmb_idxmake.php?idx=644&simg=/content/image/2024/04/24/20240424050844_0.jpg&u=20240424200058)
-
4
Nicaragua shuts down Seoul embassy
-
5
Medical reform committee kicks off despite boycott from doctors
![[Herald Interview] 'Amid aging population, Korea to invite more young professionals from overseas'](http://res.heraldm.com/phpwas/restmb_idxmake.php?idx=644&simg=/content/image/2024/04/24/20240424050844_0.jpg&u=20240424200058)
-
6
Hybe's multilabel system tested amid conflict with Ador
-
7
SNU profs to suspend treatment for one day
-
8
Rocket engine expert, ex-NASA exec to lead Korea's new space agency
-
9
SK hynix pledges W20tr to ramp up DRAM production at home
-
10
10-man S. Korea lose to Indonesia to miss out on Paris Olympic football qualification
The prosecution on Friday filed for an arrest warrant for SK Group vice chairman Chey Jae-won for alleged embezzlement.
According to Seoul Central Prosecutors’ Office, Chey Jae-won, the younger brother of SK chairman Chey Tae-won, is suspected of having orchestrated money-laundry of 49.7 billion won ($43.2 million) out of 280 billion won set aside by 18 affiliates of the group for investment into Benex Investment.
He is suspected of handing it to his elder brother who has allegedly spent as much as 300 billion won in failed stock futures investments.
Prosecutors earlier arrested Kim Joon-hong, head of Benex, for embezzling 100 billion won. The investigators believe that the money was part of SK’s investment and that Kim aided the illegal use of the SK funds.
By Bae Ji-sook (baejisook@heraldcorp.com)
According to Seoul Central Prosecutors’ Office, Chey Jae-won, the younger brother of SK chairman Chey Tae-won, is suspected of having orchestrated money-laundry of 49.7 billion won ($43.2 million) out of 280 billion won set aside by 18 affiliates of the group for investment into Benex Investment.
He is suspected of handing it to his elder brother who has allegedly spent as much as 300 billion won in failed stock futures investments.
Prosecutors earlier arrested Kim Joon-hong, head of Benex, for embezzling 100 billion won. The investigators believe that the money was part of SK’s investment and that Kim aided the illegal use of the SK funds.
By Bae Ji-sook (baejisook@heraldcorp.com)
-
Articles by Korea Herald
![[KH Explains] Korean shipbuilding stocks rally: Real growth or bubble?](http://res.heraldm.com/phpwas/restmb_idxmake.php?idx=652&simg=/content/image/2024/04/25/20240425050656_0.jpg&u=)
