Most Popular
-
1
Korea’s homegrown nanosatellite successfully launches into space
-
2
Ador CEO denies allegations, accuses Hybe of mistreating NewJeans
-
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
Hybe's multilabel system tested amid conflict with Ador
![[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
Rocket engine expert, ex-NASA exec to lead Korea's new space agency
-
7
SNU profs to suspend treatment for one day
-
8
Over-50s, men, single-person households take up majority of those filing for bankruptcy
-
9
SK hynix pledges W20tr to ramp up DRAM production at home
-
10
Medical reform committee kicks off despite boycott from doctors
The Seoul Central District Prosecutors’ Office on Tuesday sought an arrest warrant for Kang Duk-soo, former head of shipping and shipbuilding conglomerate STX Group, on suspicion of embezzlement and business malpractice.
Kang, 64, is believed to have funneled the funds of STX’s financially troubled shipbuilding unit to illegally support other ailing affiliates during his tenure as the group’s chief between 2003 and February 2014.
He also allegedly used the company funds to bribe politicians.
Kang had been grilled by the prosecutors on Friday and Sunday over his charges.
Prosecutors have also sought arrest warrants for three other former high-level executives under the same charges.
Prosecutors launched an investigation into Kang in February after the company filed a complaint against him and four other former executives.
Once among the country’s largest conglomerates, STX Group’s flagship affiliates have struggled amid a downturn in the shipping and shipbuilding sectors.
(From news reports)
Kang, 64, is believed to have funneled the funds of STX’s financially troubled shipbuilding unit to illegally support other ailing affiliates during his tenure as the group’s chief between 2003 and February 2014.
He also allegedly used the company funds to bribe politicians.
Kang had been grilled by the prosecutors on Friday and Sunday over his charges.
Prosecutors have also sought arrest warrants for three other former high-level executives under the same charges.
Prosecutors launched an investigation into Kang in February after the company filed a complaint against him and four other former executives.
Once among the country’s largest conglomerates, STX Group’s flagship affiliates have struggled amid a downturn in the shipping and shipbuilding sectors.
(From news reports)
![[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=)
