Cho Yang‑ho’s Biggest Downfall: From Supper Parties to Supreme Court
In a plot twist that feels straight out of a dramatic series, Cho Yang‑ho, the long‑time Chairman of Korean Air Lines, has landed in legal hot water. Prosecutors in Seoul laid a pile of charges on him, from embezzlement to breach of trust, and you might wonder—what did a pilot of a heavy aircraft end up doing? Turns out, he’s been trading more than runways.
The Courtroom Tarzan
- “Kidnapped aviation deals” — Cho allegedly ran a trading company that brokered aircraft equipment and in‑flight duty‑free goods, racking up a 19.6 billion won (£24 million) commission from 2003 to 2018.
- This shady racket cost Korean Air the same amount, a financial setback that had airline shares wobble in the market.
- Despite the indictment, Korean Air kept a tight‑lipped silence, and Cho himself was unreachable for comment.
Family Feuds and Flight‑level Drama
- Emily Cho’s “drink‑smack” incident — The youngest daughter basically threw a beverage at a business meeting, but the moochers didn’t bother to press charges, leading the court to drop all accusations.
- Heather Cho’s “nut‑watching” jail time — Back in 2014, she was imprisoned for demanding the return of an aircraft because she was served nuts in first class. Talk about having high standards.
Chaebol’s Contorted Echo Chamber
Cho’s troubles are part of a wider pattern. Since President Moon Jae‑in promised to crackdown on family‑run conglomerates, other big names have faced the same scrutiny. Highlights:
- In early March, Shin Dong‑bin of Lotte Group was found guilty of bribery and influence‑peddling, even implicated in the ouster of former President Park Geun‑hye.
- Same bribery scandal also led to the conviction of Jay Y. Lee from Samsung, though both men await final judgment from the top court.
Market Reaction: Takeoffs & Landings
On Monday, Korean Air’s shares slid 0.6 %, while its parent company, Hanjin Kal Corp, saw a 2 % dip—part of the ripple effect of a CEO’s legal woes.
So, there you have it. From boardrooms to boarding gates, the saga of Cho Yang‑ho reminds us that no privileged position above the flight rules is safe—at least, until you spill a drink in a meeting or serve nuts to the wrong crowd.
