Choi Eun-young, a former chairwoman of struggling South Korean ocean carrier Hanjin Shipping, is not seen as a flight risk and has pledged to cooperate in the insider trading investigation, according to multiple media reports.
A Korean court has rejected a request for an arrest warrant for a former chairwoman of Hanjin Shipping accused of selling stock April because she had inside knowledge the company would go through a financial restructuring.
The Yonhap news agency reported the Seoul Southern District Court said evidence gathered so far would be sufficient to incriminate Choi Eun-young, but that she “is not considered a flight risk, nor is it concerned that Choi would attempt to destroy evidence.”
Choi has said she and her daughters sold stock in Hanjin Shipping in April to repay debt, and has pledged to cooperate with the investigation.
Yonhap said they avoided about 1 billion won or $849,000 in losses by selling the stock.
Court rejects arrest warrant for former Hanjin chairwoman
