Hanjin Group’s chairman Cho Yang-ho dies
- 5 years ago
조양호 한진그룹 회장 별세
The head of Hanjin Group, Cho Yang-ho,... took the reins of Korean Air in 1999... and helped to make it a globally recognized company.
Despite his achievements,... his career recently was marred by scandals involving his family members.... as well as charges of embezzlement.
Lee Min-sun has our top story. Hanjin Group announced on Monday morning that its chairman Cho Yang-ho died on Sunday at the age of 70.
Cho had been staying in the United States since last year to receive medical treatment. He reportedly died in a hospital in Los Angeles from a chronic disease while his wife, son and two daughters were by his side. The company didn't disclose the specific name of the disease but he is known to have had lung disease.
Cho took over as chairman of Hanjin Group in 2003. He succeeded his father who founded the group that owns the country's largest air carrier, Korean Air.
Cho is considered an expert in the aviation and transportation field as he spent over 45 years in the sector after joining Korean Air in 1974.
He also was deeply involved with the hosting of the 2018 Pyeongchang Winter Olympics.
However, Cho and his family have been facing a series of troubles.
Cho recently lost his board seat at Korean Air in a shareholders’ meeting last month. It was the first time that a founding family member of one of Korea's Chaebol or conglomerates has been removed from a key position by shareholders.
His family has been under investigation over multiple allegations including assault, embezzlement, and smuggling luxury goods.
Meanwhile, after the news spread, share of Hanjin Kal, the holding company of Hanjin Group soar up 22% as of 11:30 am Monday.
Lee Min-sun, Arirang News.
The head of Hanjin Group, Cho Yang-ho,... took the reins of Korean Air in 1999... and helped to make it a globally recognized company.
Despite his achievements,... his career recently was marred by scandals involving his family members.... as well as charges of embezzlement.
Lee Min-sun has our top story. Hanjin Group announced on Monday morning that its chairman Cho Yang-ho died on Sunday at the age of 70.
Cho had been staying in the United States since last year to receive medical treatment. He reportedly died in a hospital in Los Angeles from a chronic disease while his wife, son and two daughters were by his side. The company didn't disclose the specific name of the disease but he is known to have had lung disease.
Cho took over as chairman of Hanjin Group in 2003. He succeeded his father who founded the group that owns the country's largest air carrier, Korean Air.
Cho is considered an expert in the aviation and transportation field as he spent over 45 years in the sector after joining Korean Air in 1974.
He also was deeply involved with the hosting of the 2018 Pyeongchang Winter Olympics.
However, Cho and his family have been facing a series of troubles.
Cho recently lost his board seat at Korean Air in a shareholders’ meeting last month. It was the first time that a founding family member of one of Korea's Chaebol or conglomerates has been removed from a key position by shareholders.
His family has been under investigation over multiple allegations including assault, embezzlement, and smuggling luxury goods.
Meanwhile, after the news spread, share of Hanjin Kal, the holding company of Hanjin Group soar up 22% as of 11:30 am Monday.
Lee Min-sun, Arirang News.