by Lee Jungyun
Published 26 Apr.2023 18:23(KST)
An Interpol red notice has been issued for Bae Sang-yoon, chairman of KH Group, who is under prosecution investigation for breach of trust involving approximately 400 billion KRW.
According to the legal community on the 26th, the Violent Crime Investigation Division of the Seoul Central District Prosecutors' Office (Chief Prosecutor Shin Jun-ho) obtained an arrest warrant for Chairman Bae on charges of breach of trust and embezzlement, and requested an Interpol red notice this month.
Chairman Bae, who is known to be staying in Southeast Asia, left the country last year for business reasons and has not returned since.
During the investigation of the 'Pyeongchang Alpensia Resort bidding interference' case, prosecutors uncovered allegations that Chairman Bae caused approximately 400 billion KRW in damages to affiliates to secure funds for acquiring the Alpensia Resort. Prosecutors are also examining allegations that he embezzled company funds amounting to around 60 billion KRW.
Chairman Bae's side stated, "He intends to return (to Korea) as soon as the matter is resolved to the fullest extent," and added, "He will actively cooperate with the investigation upon his return."
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