A Seoul court held a hearing Wednesday to decide whether to issue an arrest warrant for Cho Yong-byoung, chairman of Shinhan Financial Group Company.
Cho, who is facing charges of unfair hiring among others, appeared for a court arraignment at the Seoul Eastern District Court around 10:30 a.m.
Prosecutors suspect that while under Cho’s leadership between 2015 and 2017, Shinhan Bank gave undue favors to over 90 applicants who were the children of influential people or company executives.
Two former Shinhan Bank officials have been arrested and indicted for their roles in the unfair hiring practice.
The court is likely to deliver its decision late Wednesday or early Thursday.
[Photo : YONHAP News]