- City Fajr Shuruq Duhr Asr Magrib Isha
- Dubai 04:26 05:44 12:20 15:47 18:50 20:08
FILE - In this April 16, 2014 file photo released by South Korea Coast Guard via Yonhap News Agency, South Korean rescue team boats and fishing boats try to rescue passengers of the sinking ferry Sewol in the water off South Korea's southern coast, near Jindo. Jokes and concerts are out. So are school field trips and boisterous cheering at baseball games. As South Korea mourns one of its worst ever disasters, a ferry sinking on April 16 that will likely result in the death of more than 300 people, most of them high school kids, anything deemed frivolous or fun is frowned upon, and the backlash for breaking this collective somber mood can be harsh. (AP)
The family that has a major stake in companies that control the shipping operator whose ferry sank last week, likely to have killed hundreds, will take social and legal responsibility for the incident, its lawyer said.
The lawyer did not say that the family was assuming liability for what he termed a "tragic accident" and said that the family had not been summoned by prosecutors.
"Yoo and his family will take all legal and social responsibility for this tragic accident if they have to as major stakeholders of the company," Son Byoung-gi told Reuters.
Yoo Byung-un is the founder of a company that went bankrupt in the 1990s and whose shipping assets now form part of Chonghaejin Marine Co. Ltd. that is owned by investment funds controlled by his two sons, Yoo Dae-kyun and Yoo Hyuck-ki.
Prosecutors have raided both the company and Yoo's house as part of the search for evidence and financial regulators are looking at the company's borrowings and overseas businesses owned by Yoo and other family members.
"As far as I am aware, there are no financial irregularities such as tax evasion or asset transfers to the Yoo family," Son said.
Follow Emirates 24|7 on Google News.