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SAT, 2014-11-29  KST

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Prosecutors look to seize assets of sunken ferry owner
Updated: 2014-06-27 23:01:45 KST


403 billion won or nearly 400-million U.S. dollars--that is how much the government wants to seize from the sunken ferry's de facto owner, Yoo Byung-eun.

The government said Thursday it had filed a request with the Seoul Central Court, and that if the request is granted, they will use the money to compensate the victims and families of the sunken Sewol-ho ferry.
This includes paying for funeral costs of the victims, most of whom were high school students.

In addition to Yoo, the government would also like the assets of eight crew members, including Captain Lee Joon-seok,and four officials from Chonghaejin Marine Company, the ferry operator, seized.

Yoo and his eldest son have been on the run for two months now and are currently on the nation's most wanted list.
Their corrupt business practices are seen as having played a role in the deadly ferry accident.
Authorities have so far arrested four of Yoo's family, including his wife.
Fifteen of the ferry's crew also remain in custody and are currently on trial on homicide charges for abandoning the ferry before its passengers were saved.
Out of the 476 passengers on the Sewol-ho, more than 300 have been confirmed dead or missing.
Connie Lee, Arirang News.

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