Prosecutors said Wednesday they have sought an arrest warrant against the chief of state-run Korea Gas Corp. on suspicion of bribery and breach of trust.
   
Jang Seok-hyo, the chief executive officer of KOGAS, is suspected of embezzling billions of won (millions of U.S. dollars) from a tugboat company he headed between July 2011 and July 2013, prosecutors said.
   
Jang allegedly had fake receipts issued for client entertainment expenses while serving as chief of the company.
   
The KOGAS chief is also suspected of spending some 150 million won with a corporate credit card belonging to a company in a contract with KOGAS in exchange for business favors.
   
"After investigating (the case) for several months, we concluded that there is some evidence of the charges and decided to seek a warrant," a prosecution official said, speaking on condition of anonymity. (Yonhap)