SOUTH KOREA: Embezzlement Scandal Digs Chang Jae-Ku’s Grave Deeper

After making headlines in June for dismissing the unionized reporters who called for his investigation, Chang Jae-Ku is once again in the spotlight, and his streak of misbehavior continues.

The newspaper owner and chairman of the Hankook Ilbo media group now faces charges for embezzling US$11.6 million for his personal use and and additional US$26.82 million in company benefits to pay off debts.

On August 8, Seoul Central District Court approved the appointment of a new manager to run the newspaper and minimize further financial loss at the request of 201 newspaper employees.

The fate of Hankook Ilbo and its chairman are both quite unclear, but our guess is that neither are going down without a fight.

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