KOGAS Says Its CEO To Tender His Resignation On Monday


SEOUL, Jan 11 (Reuters) - State-owned Korea Gas Corp said on Sunday its president and chief executive Jang Seok-hyo will tender his resignation on Monday after the energy ministry asked the country's president to sack him.

Jang has been indicted on charges of bribery and breach of duty.

Jang was quoted in a KOGAS statement as saying he would tender his resignation so as not to be a burden on the company and the country's president, Park Geun-hye.

But he did not comment on the charges against him.

Last month, prosecutors indicted Jang on suspicion of breach of trust over a sum of 3.03 billion won ($2.79 million) at an LNG tanker tugboat company he headed before taking over as KOGAS chief executive in 2013.

He is also suspected of taking 280 million won in bribes as KOGAS chief executive.

Jang is scheduled to head the global gas promotion agency the International Gas Union from 2018 to 2021.

Asked if Jang would keep the job despite the indictment, a spokesman at the IGU told Reuters in an email: "The IGU doesn't have to run new elections, and South Korea (or KOGAS) has a right to nominate somebody else if present KOGAS CEO is not available".

($1 = 1,084.8200 won)

(Reporting By Meeyoung Cho and Kahyun Yang; Additonal reporting By Nerijus Adomaitis in OSLO; Editing by Robert Birsel)

Copyright 2016 Thomson Reuters. Click for Restrictions.


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