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Keyword: chungmongkoo

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  • South Korea - Arrest warrant sought for Hyundai Motor chairman

    04/26/2006 11:16:47 PM PDT · by HAL9000 · 1 replies · 251+ views
    Yonhap News (South Korea) ^ | April 27, 2006 | Shim Sun-ah
    SEOUL, April 27 (Yonhap) -- South Korea's prosecution on Thursday requested an arrest warrant for embattled Chairman Chung Mong-koo of the Hyundai Motor Group, who is accused of creating a huge slush fund to bribe politicians and government officials for business favors. Chung's only son and heir Eui-sun, the president of Kia Motors Corp., will be indicted without physical detention on the same charges, prosecutors said. Kia is a key affiliate of the country's second-largest conglomerate. "We sought a warrant in the morning to detain Chairman Chung on charges of embezzling 100 billion won from the company coffers to...