Hyundai boss gets three years
The head of South Korea’s Hyundai Motors
has been jailed for three years after being convicted of
embezzlement.
Not the only Shark at Hyundai
The head of South Korea’s Hyundai Motors has been jailed for three years after being convicted of embezzlement.
Prosecutors had demanded a six-year jail term for Chung Mong-koo, chairman of the world’s number six car-marker, for embezzling company funds and other charges.
The presiding judge said the lesser sentence was justified because of Chung’s “big contributions to the development of the country’s economy” and his involvement in charity.
Passing sentence judge Kim Dong-oh said Chung’s actions were “clearly criminal acts” that required a firm punishment.
Are we supposed to conclude that South Korea is different from the U.S.? That corporate corruption exists separate and insulated from political corruption?
Posted: Mon - February 5, 2007 at 11:36 AM