INCHEON, South Korea, April 24 South Korean
prosecutors said on Thursday that they had raided the shipping
safety watchdog as part of their expanded investigation
following the fatal sinking of a ferry.
The Sewol sank last week and more than 300 people, most of
whom are students and teachers from the same school, have
drowned or are missing presumed dead.
"The objective was to investigate malpractices and
corruption in the entire shipping industry," Song In-taek, head
deputy chief prosecutor at Incheon District Prosecution Service,
The raid took place on Wednesday when prosecutors also
raided the home of Yoo Byung-un, the head of a family that owns
the Chonghaejin Marine Co. Ltd, the company that operated the
Financial watchdog and prosecutors are looking into the
assets of Yoo's family for any possible embezzlement,
(Reporting by Ju-min Park; Editing by Nick Macfie)