Korean trader kills self in Manila over money woes

MANILA, Philippines - Faced with the prospect of going bankrupt a fourth time, a Korean businessman killed himself on Monday by stabbing himself and slashing his throat in the toilet of his office in Quezon City.

The police immediately ruled out foul play in the death of Kwan Su Park, also known as Anthony Park, 41, the co-owner and executive officer of First Standout Trading Inc., a car dealership on Roosevelt Avenue in Barangay (village) San Antonio.

This was after the footage taken by a closed circuit television (CCTV) camera installed in the office showed him taking a kitchen knife from the company dining area and making his way to the toilet.

PO2 Hermogenes Capili of the Quezon City Police District's Criminal Investigation and Detection Unit said that Park might have killed himself because his company was facing bankruptcy. According to employees, the firm had been on the brink of folding up three times before.

"Based on the CCTV video, nobody followed him to the [toilet]. He was the one who got the kitchen knife and locked himself inside the [toilet]," Capili added.

Park's wounded body was found around 2:30 p.m. on Monday by a company employee and brought it to St. Agnes General Hospital where Park was pronounced dead on arrival.

Capili said that before the discovery, Park's business partner, Jet Ruiz, arrived at the office to meet with him. When they failed to find Park, staff member Yoon Beom Kang conducted a search.

Upon checking the toilet, Kang found the door locked so he knocked repeatedly. When there was no response, he decided to force open the door and found his boss. Kang and other employees brought the company executive to the nearest hospital to try to save him but the effort proved futile.