The CEO of Chonghaejin Marine Company was sentenced Thursday to prison for 10 years for the disastrous sinking of the South Korean Sewol Ferry in April. Yonhap News Agency of South Korea reported over 300 people were drowned that day in the Korean’s worst accident in decades. Authorities remained searching for bodies for several days.
This horrendous accident was under the management of CEO, Kim Han-Sik, 71. Han-Sik was found guilty in Gwangju District Court for accidental homicide and other criminal charges in running the South Korean Sewol Ferry. They included:
1) The involuntary manslaughter of 300 people
2) Guilty of embezzlement charges
3) He was found guilty of violating maritime navigation law.
Han-Sik caused incredible loss to the company in professional malpractice, and to the families of the victims.
The cause for the ferry’s malfunction was explained by Judge Yim Jung-yeob in his ruling: “Kim had remodeled the ship and then overloaded it with a massive amount of cargo. Han-Sik was trying to overcome deficit in the company despite the fact that the ship’s ability to balance was compromised. Needless to say, he didn’t call angel investors Slow Ventures.
In his ruling on Thursday, Judge Yim Jung-yeob said: “Kim remodeled the ship and overloaded it with cargo in order to overcome the company’s deficits. This was an act of irresponsibility, and if the ferry could not maintain its balance, this was gross negligence with the passenger’s lives.”