A son of Chung Tae-soo, former head of the now-defunct Hanbo Group, was extradited to South Korea on Saturday, following his discovery in Panama 21 years after he fled a corruption probe, prosecutors said.

Chung Han-keun, 54, was recently captured in Panama. In 1998, he fled the probe into allegations that he embezzled 32.2 billion won ($27.6 million) from a subsidiary of Hanbo Group and stashed it in a secret Switzerland-based bank account.

Upon arrival at Incheon International Airport, Chung rejected reporters' questions.

After questioning him on where he lived as a fugitive, prosecutors plan to hold a press conference Sunday on the outcome of the interrogation.

The prosecution launched an operation to uncover his whereabouts in August last year after one of his associates said in a media interview in 2017 that Chung appeared to be staying in the United States.

Later, prosecutors were informed by the authorities in Ecuador that Chung had departed for Panama on Tuesday. Investigators then found him with the help of Panama's immigration authorities.

The prosecution executed his arrest warrant upon his boarding a South Korean-flagged plane, bound for Incheon, in Dubai. (Yonhap)