Daehan chairman charged with embezzlement

Seoul: Huh Jae Ho, the chairman of fast emerging South Korean shipbuilder Daehan Shipbuilding, has been charged by the country's prosecutors with embezzlement of funds from affiliate Daeju Construction.
A $49m hole in the firm's tax dues plus the withdrawal of 10bn Won from the company's accounts brought the authorities knocking at Huh's door.
Daehan had made comments that one day it aspired to be the world's largest shipbuilder, a claim it has since moderated. [11/12/07]