Social Affairs
US Court orders late Sewol ferry owner‘s family to pay off debt
April 19, 2017
The family of Yoo Byung-eun, the late operator of the sunken ferry Sewol, must repay Korea Deposit Insurance Corp. 19 billion won ($16.7 million), a New York state court ruled in November, court records showed Wednesday.The court took side with South Korea’s state-run KDIC, which filed a lawsuit against family members of Yoo, the late chairman of Chonghaejin Marine, to take responsibility for his unpaid debt from the financial crisis in 1997.KDIC redirected the blame to Yoo’s second-eldest son Y