According to a report by The Associated Press, the country of South Korea is offering a huge reward for any information that will lead to the finding of the billionaire owner of the Sewol ferry that sank last month. Authorities have said that Yoo Byung-eun owned the Sewol ferry, which led to the deaths or misplacement of over 300 people, who are mostly children and teachers of a high school.
The 73 year-old and his son reportedly caused a domestic media frenzy since being linked to the sunken ferry. Police, under the information that Yoo is a member of a church critics have labeled as a cult, tried to find Yoo at a sprawling church compound near Seoul. Law enforcement were unable to enter immediately as they were blocked by hundreds of church followers, which resulted to a days-long, tense standoff. Police was finally allowed and Yoo was not found in the premises, AP said.
It has been believed that Yoo might have fled to a home of another church follower following the police manhunt. By then, police and prosecutors have jointly announced a 50 million won ($50,000) reward for information about the whereabouts of Yoo's location and 30 million won ($30,000) for details about his son.
AP said Yoo has been slapped with charges of tax evasion, embezzlement and professional negligence. Yoo's son, Dae-gyun, has been charged with embezzlement. According to prosecutors, they suspect that the sinking of the ferry on April 16 may have been attributed to the illicit funneling of the funds of the ferry's current operator, Chonghaejin, to Yoo's family. The move would then have the ferry operator curb costs on safety and personnel.
South Korean President Park Geun-hye appeared to have took what is considered to be one of the country's greatest tragedies personally. In a televised national address, Reuters said Park fought to read her statement, holding back sobs while tears were flowing down her face when she said, "I apologize to the nation for the pain and suffering that everyone felt, as the president who should have been responsible for the safety and lives of the people."
