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Over a month after more than 300 people died when the Sewol ferry capsized and sank off the coast of South Korea, the government is offering over a quarter of a million pounds for information leading to the capture of the ferry company’s fugitive owner.
73-year-old Yoo Byung-un, the head of the family that controls the Chonghaejin Marine Company, is wanted on charges of professional negligence, embezzlement, and tax evasion.
The sum is a tenfold increase from the 50 million Won (£29,300) authorities had initially offered, and is the maximum amount allowed by criminal law as a reward for a fugitive.
“This is the largest amount ever offered by an investigative authority as reward,” said a prosecution official involved in the case.
The boost comes after Yoo failed to appear at the Incheon District Court on 20 May, according to Korea JoonAng Daily .
Show all 50 1 /50South Korea ferry disaster South Korea ferry disaster South Korea ferry disaster A woman ties a yellow ribbon dedicated to dead and missing passengers onboard sunken passenger ship Sewol to a pillar at Yellow Ribbon's Garden set up at Seoul City Hall Plaza
South Korea ferry disaster South Korea ferry disaster A South Korean man walks past a well-wishing ribbon in Seoul
South Korea ferry disaster South Korea ferry disaster High school student who are members of the Youth section of the Seoul Alpine Federation, climb to display a sign reading 'My dear friend I will remember you forever' while hoping for the safe return of the sunken ferry Sewol's missing passengers as they hang on a rope bridge on the Ansan mountain in Seoul
South Korea ferry disaster South Korea ferry disaster High school student hold a sign reading 'My dear friend I will remember you forever' while hoping for the safe return of the sunken ferry Sewol's missing passengers as they hang on a rope bridge on the Ansan mountain in Seoul
South Korea ferry disaster South Korea ferry disaster File image: A diver gets out from the sea after attempting to search for the missing passengers at the site of the sunken South Korean ferry 'Sewol' off Jindo on 26 April, 2014
AFP/Getty Images
South Korea ferry disaster South Korea ferry disaster A diver jumps into the sea during a search and rescue operation for the sunken ferry Sewol's missing passengers in waters off Jindo Island
South Korea ferry disaster South Korea ferry disaster A diving bell, a rigid chamber used to transport divers to lower depths in the ocean is moved to be used in the search and rescue operation for the capsized ferry Sewol's missing passengers at a Jindo Island port
South Korea ferry disaster South Korea ferry disaster Family members of missing passengers of the sunken Sewol ferry await news on relatives at Jindo-port on Jindo Island
South Korea ferry disaster South Korea ferry disaster A hearse is pictured during the funeral of one of the student victims of sunken Sewol ferry at the funeral hall in Ansan
South Korea ferry disaster South Korea ferry disaster Four crew members of the sunken ferry Sewol enter a court in Mokpo in southwestern South Korea
South Korea ferry disaster South Korea ferry disaster Divers operate at the site where the capsized passenger ship Sewol sank in the sea off Jindo, during the search and rescue operation in the sea off Jindo
South Korea ferry disaster South Korea ferry disaster A representative of civilian divers holds a news conference at a Jindo Island port, to complain about alleged inefficiency in the search and rescue operation for the missing passengers from the capsized ferry Sewol
South Korea ferry disaster South Korea ferry disaster A grief-fuelled moment for a father of a victim of the Sewol ferry accident at a joint incense-burning altar set up at Ansan Olympic Memorial Hall in Ansan
South Korea ferry disaster South Korea ferry disaster A family member of a victim, holding a portrait wrapped in white sheet, cries after paying tribute in Ansan at a temporary group memorial altar for victims of capsized passenger ship Sewol
South Korea ferry disaster South Korea ferry disaster A girl weeps as she reads messages wishing for the safe return of missing passengers of sunken passengers ship at Danwon high school in Ansan
South Korea ferry disaster South Korea ferry disaster Students attach messages wishing for the safe return of missing passengers of sunken passengers ship at the Ansan Olympic Memorial Hall in Ansan
South Korea ferry disaster South Korea ferry disaster A family member of a missing passenger of capsized passenger ship Sewol cries after she identified her family member on a list of newly found bodies on a noticeboard at makeshift accommodation at a gymnasium in the port city of Jindo
South Korea ferry disaster South Korea ferry disaster A mother of a passenger aboard the sunken ferry Sewol in the water off the southern coast cries after confirming her daughter's name on the list of the victims found dead at a port in Jindo
South Korea ferry disaster South Korea ferry disaster Relatives of a passengers aboard the sunken ferry Sewol and Buddhist monks pray for the safe return of missing passengers at a port in Jindo
South Korea ferry disaster South Korea ferry disaster The orange sun begins to set above searchers and divers looking for bodies of passengers believed to have been trapped in the sunken ferry Sewol in the water off the southern coast near Jindo
South Korea ferry disaster South Korea ferry disaster A weeping relative of a passenger aboard the sunken Sewol ferry prays as she awaits news on her missing loved one at a port in Jindo
South Korea ferry disaster South Korea ferry disaster Relatives of a passenger on board the capsized South Korean ferry Sewol weep at an area where family members of victims of the disaster are gathered at Jindo harbour
South Korea ferry disaster South Korea ferry disaster Family members of missing passengers in the sunken ferry Sewol returning from a visit to the ferry sinking site, at a port on Jindo Island, in the southwestern province of South Jeolla
South Korea ferry disaster South Korea ferry disaster Relatives of victims of the 'Sewol' ferry attend a prayer session in a tent at Jindo harbour
South Korea ferry disaster South Korea ferry disaster A funeral service for three Danwon High School students killed in the sinking of the ferry Sewol takes place at the school compound in Ansan, south of Seoul
South Korea ferry disaster South Korea ferry disaster South Korean rescue members carry the body of a victim recovered from the "Sewol" ferry to an ambulance at a harbour in Jindo
South Korea ferry disaster South Korea ferry disaster An ambulance (L) transporting the bodies of victims recovered from the "Sewol" ferry drives past policemen at a harbour in Jindo
South Korea ferry disaster South Korea ferry disaster South Korean rescue workers carry the body of a victim of the ferry Sewol sinking at Jindo-port on Jindo Island in the southwestern province of South Jeolla
South Korea ferry disaster South Korea ferry disaster South Korean coast guards and rescue workers are seen at the accident site of the capsized South Korean ferry Sewol in Jindo
South Korea ferry disaster South Korea ferry disaster A South Korean coast guard helicopter flies over the accident site of the capsized South Korean ferry Sewol in Jindo
South Korea ferry disaster South Korea ferry disaster South Korean Special Forces and Coast Guard members are seen operating in the search and rescue operation for the missing passengers of the Sewol sunken ferry, at sea at the accident site, about 20km off Jindo-port on Jindo Island in the southwestern province of South Jeolla
South Korea ferry disaster South Korea ferry disaster A massive rescue and search operation underway in waters around the ferry Sewol's sinking site at sea, about 20 km off Jindo-port, Jindo Island, in the southwestern province of South Jeolla
South Korea ferry disaster South Korea ferry disaster Sailors of the sunken ferry Sewol enter a court in Mokpo, South Jeolla Province
South Korea ferry disaster South Korea ferry disaster Lee Joon-seok (3rd L) the captain of the ferry Sewol that sank off South Korea, and two crew members prepare to leave a court which issued their arrest warrant in Mokpo, south of Seoul
South Korea ferry disaster South Korea ferry disaster Lee Joon-seok (C) the captain of the sunken ferry boat Sewol in the water off the southern coast, arrives at the headquarters of a joint investigation team of prosecutors and police in Mokpo, south of Seoul
South Korea ferry disaster South Korea ferry disaster A local resident weeps during a prayer to wish for the safe return of passengers of the sunken ferry Sewol during an annual Easter service in Jindo, South Korea
AP
South Korea ferry disaster South Korea ferry disaster A woman writes a message for missing passengers on the capsized Sewol passenger ship, which sank in the sea off Jindo, South Korea
Reuters
South Korea ferry disaster South Korea ferry disaster Family members and friends of missing passengers of the Sewol ferry sinking attend a funeral service for a student killed in the accident, at Danwon High School in Ansan, South Korea
EPA
South Korea ferry disaster South Korea ferry disaster Family members and friends of missing passengers of the Sewol ferry sinking attend a funeral service for a student killed in the accident
EPA
South Korea ferry disaster South Korea ferry disaster Family members and friends of missing passengers of the Sewol ferry sinking attend a funeral service
EPA
South Korea ferry disaster South Korea ferry disaster Rescue workers carry the bodies of passengers who were on the capsized Sewol passenger ship
Reuters
South Korea ferry disaster South Korea ferry disaster A relative of a missing passenger aboard the sunken ferry Sewol consoles another relative as they try to march toward the presidential house to protest the government's rescue operation in Jindo, South Korea
AP
South Korea ferry disaster South Korea ferry disaster South Korean rescue team members on a boat sail to rescue missing passengers believed to have been trapped in the sunken ferry Sewol near the buoys which were installed to mark the vessel in the water off the southern coast near Jindo, south of Seoul, South Korea
AP
South Korea ferry disaster South Korea ferry disaster Police officers stand in two lines between which rescue workers carry the bodies of passengers who were on the capsized Sewol passenger ship
Reuters
South Korea ferry disaster South Korea ferry disaster Family members react after hearing confirmation that a relative was found dead at the site of the Sewol ferry sinking, in Jindo Gymnasium, South Korea
EPA
South Korea ferry disaster South Korea ferry disaster South Korean Coast Guard rescue team members collect the bodies of victims of the Sewol ferry sinking at the accident site about 20km off Jindo-port on Jindo Island
EPA
South Korea ferry disaster South Korea ferry disaster The South Korean coast guard searches for missing passengers at the site of the sunken ferry off the coast of Jindo Island
Getty Images
South Korea ferry disaster South Korea ferry disaster South Korean rescue team boats and fishing boats try to rescue passengers of the sinking Sewol ferry, off South Korea's southern coast,near Jindo, south of Seoul
AP
South Korea ferry disaster South Korea ferry disaster South Korean coast guard officers try to rescue passengers from the Sewol ferry as it sinks in the water off the southern coast near Jindo, south of Seoul, South Korea
AP
South Korea ferry disaster South Korea ferry disaster Relatives of missing passengers aboard the sunken ferry Sewol struggle with policemen as they try to march toward the presidential house to protest the government's rescue operation in Jindo, South Korea
AP
Prosecutors claim that the Sewol ferry was structurally unsound after it was remodelled to increase its capacity, and was massively overloaded with cargo before it sank.
The investigating authorities believe that as its crew attempted to make a sharp turn, it failed to restore its balance, and capsized.
Nearly six weeks after the disaster, 288 bodies have been recovered and 16 people are missing. Most of the people on board were high school students.
The raise in the ransom sum came prior to the capture of the tycoon’s daughter, Yoo Somena, who was arrested on Tuesday at her home near the Champs-Elysees in Paris, according to French officers.
South Korean officials had issued an arrest warrant for the 47-year-old on suspicion that she was involved in embezzlement from 2004 to 2013, the officials said.
The authorities have also offered 100 million won for tips leading to the arrest of one of the sons. The other is believed to be in the United States. The trio have all allegedly evaded summons to appear for questioning and have arrest warrants outstanding.
Additional reporting by agencies
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