President's son-in-law grilled over insider trading allegations

SEOUL, Dec. 30 (Yonhap) -- A son-in-law of President Lee Myung-bak, also vice head of South Korea's largest tiremaker, is being investigated on suspicion that he used insider information to make illegal profits, the prosecution said Tuesday.

Cho Hyun-bum, vice president of Hankook Tire Co., was grilled over whether he
made illegal gains in ND Corp., an overseas energy developer, by exploiting
insider information. He reportedly denied the suspicions.
Cho, who bought the stakes in ND Corp. in April last year, is also suspected of
taking part in other murky stock trades pushed by young entrepreneurs related to
conglomerate owners.
In recent months, rumors have circulated that corporate heirs and their relatives
raked in huge profits through insider trading, mostly targeting venture firms.
Koo Bon-ho, a cousin of LG Group Chairman Koo Bon-moo, was arrested and indicted
in June on charges of pocketing billions of won by spreading false rumors about
his investments.
Park Joong-won, son of a former Doosan Group chairman, was charged in July on
allegations of rigging shares of a nano technology developer.
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