South Korea Jin Air shares slide after report of potential license cancellation

Shares in South Korea’s budget carrier Jin Air tumbled as much as 9% to a six-week low Wednesday after a South Korean TV channel reported the transport ministry is considering cancelling the airline’s license. The transport ministry internally discussed last week whether to cancel Jin Air’s license after discovering Cho Hyun-min, the daughter of the chairman of Jin Air’s parent Hanjin Group, had been a registered board member of the airline despite being a US citizen, violating South Korean transport law, TV channel KBS reported Tuesday. A spokeswoman for Jin Air said the company is cooperating with the investigation and declined further comment. <br/>