A local court has rejected an arrest warrant for Shinhan Financial Group Chairman Cho Yong-byoung, who is suspected of involvement in unfair hiring practices.
The Seoul Eastern District Court turned down the prosecutors' arrest request for Cho Thursday, saying there is no flight risk or concern of evidence destruction.
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 hiring irregularities.
[Photo : YONHAP News]