The Position of Top Executives of Tire Giants is Threatened
It is reported that the case of unfair support provided by Hankook Tire to its subsidiaries continues to ferment.
Recently, the local prosecutor's office obtained a search warrant for the accounts of some senior executives of the company. The scope of the search included the relevant accounts of Zhao Xianfan, Chairman of Hankook. The prosecution is considering exercising its right of prosecution, accusing him of being suspected of making illegal profits and misappropriating them for other purposes.
It is reported that Zhao Xianfan bought about 23.59% of the company's shares with profitable funds. If the accusation is confirmed, it may threaten his current position in the company. On January 2, Hankook Tire Trade Union held a press conference in front of the procuratorial office. The organization said that Zhao Xianfan had been involved in corruption scandals for many times, which had seriously affected the company's image.
They asked him to resign his management position immediately and accept the investigation of relevant departments. It is understood that in December 2022, Zhao Xianfan received a summons from the local procuratorate. At that time, he was a witness involved in the case and had not received any criminal charges.
