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. Last Updated: 07/27/2016

Airline Chief Probed




SEOUL, South Korea -- State prosecutors Monday questioned the head of Asiana Airlines for allegedly making illegal profits in stock trading.


Park Sam-koo, president of South Korea's No. 2 airline, was suspected of having made 920 million won ($767,000) in illegal profits between April and November last year, prosecutors said.


Park allegedly used his own money to buy stocks of Kumho Tire, an affiliate of Asiana, at a low price and sold them to Kumho Petrochemical, another affiliate, at a much higher price.


Prosecutors said Park illegally used inside information to acquire the shares before the price of Kumho Tire shot up following an announcement that the tire maker would acquire a construction arm of the Kumho group.


Park's two brothers - Jung-koo, chairman of Kumho group, and Sung-yong, honorary chairman of the conglomerate - were also involved in the scheme, prosecutors said.