Former chairman of Kumho Asiana Group Park Sam-koo was arrested on Thursday on charges of unfair financial transactions among group affiliates during his chairmanship.

The Seoul Central District Court issued the arrest warrant for Park after a related hearing on Wednesday.

The court recognized the need to put Park under pre-trial detention, citing his flight risk and grounds to believe he committed the crimes as charged. 

Park is accused of unfairly mobilizing Asiana Airlines and other group companies to support Kumho Buslines, a leading provider of bus and freight transportation services that was controlled by him and his family.