Heads of Hanjin Group in another trouble in Inha University
Kim Yang Hyuk | mj@ | 2018-05-23 12:23:22

[Digital Times, Kim Yang-hyuk] Smuggling and tax evasion, the group`s own educational foundation, There has been controversy over the claim that it was taken while the total number of family members including Cho Yang-ho, chairman of the Hanjin Group are carrying out measles on suspicion of corruption.

There is a growing concern in saying that the president`s family should be completely excluded from school operation In and out of the campus, such as Inha University.

On May 22, Choi Soon-ja, the former president of Inha University, said, "I (with all the charges on my mind) had come out of it" in response to the request of the Ministry of Education.” Choi said, "It will be revealed all over time."

Jeongseok Inha Academy decided Choi to dismiss Choi as responsible for causing huge losses by investing in Hanjin Shipping as a university development fund. Choi, the chief executive of Hanjin Shipping, has the lowest BBB-rated credit rating of Hanjin Shipping in 2015, but he bought 8 billion won in bonds without disposing about 5 billion won . After the bankruptcy of Hanjin Shipping, all of the corporate bonds became idle pieces. Choi pointed out that he is not authorized to buy 8 billion won of corporate bonds and that the family member of the Hanjin Group, which controls the Chungsuk Inha Academy, is involved.

In this regard, Inha University officials insisted that "Chung Suk Inha Academy can not participate in school investment."

However, Chairman Kim Myung-in of the Inha University professor said, "The budget that the president can handle is over 50 million won." In other words, the president did not decide to buy corporate bonds.

Inha University changed from fourteen generations to four generations in ten years from the 11th to the 14th to the last. The term of office is four years, but the average has not changed for more than three years.

"Most of the members of the board of directors of Chung Suk Inha Institute are related to the chairman," said a professor at the university.

The board of directors of Jeongseok Inha Academy consists of 15 directors and 2 auditors, including Cho Yang-ho and his son Cho Won-tae.

Only two people are directly or indirectly related to Hanjin Group of these. All the rest are related to Hanjin Group affiliates, or Joongbok High School alumni, etc. Therefore, it is argued that the operation of the board of directors of Jeongseok Inha Academy is operated at will of the Hanjin Group. In addition, Korean Air`s president Cho Won-tae, who is a director of Chungsuk Inha Institute, is suffering from the suspicion of illegal incorporation of Inha University.

Meanwhile, the Inha University Alumni Association Alumni Association and the Incheon Peace and Welfare Solidarity Association have recently launched a campaign to rescue the family. Alumni Council has already appealed to the Blue House. Currently, more than 3,000 people are participating in these councils and civic groups, claiming `Special thanks to Inha University`, `Prohibition of relatives and affiliates`, and `Resigning from the Chungsuk Inha Institute`.

On the other hand, President Cho is already under pressure from all sides, accused of smuggling and tax evasion. The National Tax Service sees suspicions of smuggling and tariffs, and the IRS looks into suspicions that Brother Cho is inheriting the astronomical foreign property and not paying taxes. The Fair Trade Commission has also started to investigate the fact that the rich man, who does not have a position in Jin Air, paid the paper without permission and worked on it.

By Kim Yang Hyuk mj@

[ copyright ⓒ The Digitaltimes ]