 In mid June 2014, Chonhaiji Co. Ltd., a ship block maker controlled by the sons of businessman Yoo Byung-eun, and the major shareholder of Chonghaejin Marine Company with 39.4%, lodged its application for receivership at the Changwon District Court.Chonhaiji had billion (~ million) in outstanding debt to main creditor Korea Development Bank.On 12 June 2014 a man's body was found in a field 415 kilometres south of Seoul.