Chun Il Yu quit as part of its court-led rehabilitation plan,the company said.

Three independent directors, Dong Moo Choi, Yun Jae Baek andJoon Woo Han, have also left.

The company’s legal administrator will now discusssuccessors with creditors.

Chun was only appointed two days before the company’sbankruptcy filing in Korea in June.

The owner’s $1bn-plus debt-for-equity rescue plan wasapproved last week in Seoul.