Tuesday , May 18 2021

The main Korean plane dies at the LA hospital

SEOUL – Korean Correctional Air Lines Cho-Cho-Yang-ho, died on Sunday in a hospital in Los Angeles, the company said on Monday.

Cho, who was also chairman of the Hanjin Group, one of the largest family conglomerates in South Korea, died of lung disease. She was 70 years old.

Cho chaired a burning time in Korean Air, hit by a series of scandals related to his family.

Cho family hit the world in 2014 when Cho Hyun, chair of the Korean daughter and vice president of Korean Air, made the plane return to the gate because she was upset about the way her nose was served. Later he was charged with obstructing aviation security and closure.

Recently, members of the family, including the president, have been involved in scandals involving bribery, embezzlement and smuggling charges. Last year, Cho was charged with embezzlement and a breach of trust. He dismissed charges against him.

Hanjin also faced the challenge of the first domestic activist fund of South Korea, Korea's Corporate Governance Improvement, which called the parent company of the aviation company to set up an independent board to appoint the highest leadership. KCGI also encourages Hanjin Group to sell its hotel chain that is less successful and reduces its debts to boost investor value.

At the end of last year, the fund assumed a significant stake in Hanjin KAL, a holding company owned by an airline.

Cho's death came two weeks after being expelled from the management of the largest aviation company in the country due to his alleged embezzlement of corporate assets.

The late Hanjin president has been in the aviation industry forever since his father Cho Choong-hoon bought and privatized Korean Air 50 years ago. Cho Yang-ho was appointed President and CEO of Airline Company in 1999.

His wife Lee Myung-hee and son Won-tae, daughter, Hyun-ah and Hyun-min survived and five grandchildren survived.

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