Late Korean Air Chief Executive Cho Yang-ho at a Pyeongchang Winter Olympics event in Seoul. Cho died Sunday at a hospital in Los Angeles. this week threatens to weaken his family’s grip on an aviation-to-logistics empire built over two generations.
At 50%, South Korea’s top inheritance tax rate is among the highest in the developed world, with an extra 20% tax levied when passing down shares owned by the largest investor. The 43-year-old son faces challenges as he prepares to possibly take over the running of a conglomerate that has been at the center of controversy in recent years. About two weeks before his death, Cho was ousted from Korean Air’s board amid charges of embezzlement, while Walter Cho’s two sisters were previously removed from managerial positions for abuse of power.
Hanjin Shipping Co., once South Korea’s biggest container line, collapsed in 2016 because of overcapacity in the industry, dealing another blow to the group. The National Pension Service has adopted a stewardship code to take a more active role as a shareholder in the companies, but proposed rule changes that would make it harder for founding families to exert control have been stuck in South Korea’s National Assembly since November 2018.
Well, after the embezzlement and tax evasion indictments, as well as the 'macadamia nut tantrum' scandal, I'm sure that Korean nationals wouldn't mind a chaebol shakeup
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Korean Air says chairman Cho Yang-ho dies at 70Korean Air chairman Cho Yang-ho has died, the South Korean airline said on Monda... 'Korean Air says chairman Cho Yang-ho dies at 70' and today he turned 68. gonna be a short two years. Pretty harsh people over there in Korea. RIP. Another visionary lost. KoreanAir
Source: Reuters - 🏆 2. / 97 Read more »
Korean Air CEO’s death sends grim chaebol messageCho Yang-ho has died at 70 just weeks after shareholders ousted him from the carrier’s board. The family-controlled holding company’s market value promptly soared by a fifth. Momentum for Korean corporate reform may be slowing, but this reaction suggests investors yearn for more.
Source: Breakingviews - 🏆 470. / 51 Read more »
Korean Air chairman Cho Yang-ho dies at 70The man who helped turn Korean Air into a global powerhouse has died. NOOOOOOOOOOOOOOOOOOOOOOO Cho Yang Ho. ....there’s a joke in there somewhere. 😏
Source: CNN - 🏆 4. / 95 Read more »
Korean Air Chairman Cho Yang-Ho Dies After Battle With IllnessCho Yang-ho, who turned South Korea’s biggest airline into a global operator but was facing trial over charges including embezzlement and tax evasion, died from a lung-related illness. He was 70 years old The father of the 'nut-rage' daughter. Nothing that Trump is not doing as president of the US Who killed him
Source: WSJ - 🏆 98. / 63 Read more »
Scandal-hit Korean Air CEO dies at 70, shares soarCho Yang-ho, 70, was on trial for corruption and his death comes less than two weeks after he was forced off the board by shareholders amid snowballing scandals surrounding his family members.
Source: trtworld - 🏆 101. / 63 Read more »
Yang Ho Cho, Korean Air boss whose tenure was marred by scandal, dies at 70Yang Ho Cho, the chairman of Korean Air, has died at a hospital in Los Angeles, the company said Monday. Cho had been indicted on multiple charges, and his death came two weeks after shareholders voted to remove him from the company's board.
Source: latimes - 🏆 11. / 82 Read more »
Scandal-prone Korean Air chairman dies weeks after ouster from boardKorean Air patriarch, chairman and CEO Cho Yang-ho died of a chronic illness on ... How high was the board? Ja, ja Rentner sein ist gefährlich ;)
Source: Reuters - 🏆 2. / 97 Read more »
Cho Yang-ho, embattled CEO of Korean Air, dies at 70Cho, who himself was under indictment, was embarrassed by explosions of rage by both of his daughters, which went viral and led to their resignations. This is what happens when you procrastinate. Life happens every day. You have to live it. Tomarrow is not promised. Rip man Rip man 😢
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Korean Air chairman Cho dies weeks after ouster from boardKorean Air patriarch, chairman and CEO Cho Yang-ho died of a chronic illness on ... i am sorry by the korean So Sympathies to the Cho family. Sorry for your family’s loss, and, to the world of an entrepreneur.
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Cho Yang-ho, indicted Korean Air chairman, dies at 70SEOUL, South Korea (AP) — Korean Air's chairman, whose leadership included scandals such as his daughter's infamous incident of 'nut rage,' has died due to illness, the company said... Isn’t that called...Karma? Vai tarde peste. JongUned
Source: AP - 🏆 728. / 51 Read more »