SUMMARY
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Broadening their investigations, South Korean authorities searched the offices of the company that owns the South Korean ferry that sank, carrying more than 300 high school students. The family of Yoo Byung-eun, known in South Korea as the “millionaire with no face” appears to control Cheonghaejin Marine Company. CNN reported that the company has been struggling and reported losses in 2013. Days after the ferry Sewol sank on April 16, the company’s president apologized for the tragedy. Yoo and his two sons who control the shipping company via an investment vehicle and subsidiary, stayed away. As of early Thursday, April 24, 159 bodies had been retrieved, leaving 143 missing.
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