Filed under: Government/Legal, Hyundai, Kia, Earnings/Financials
Kia chief spared indictment in Korean bribery scandal
The South Korean government has decided not to pursue an indictment against Chung Eui Sun, president of Kia Motors. The move not to prosecute apparently stemmed from the fact that his father, Chung Mong Koo (Hyundai Motor chairman) was the one with final authority, and he is being indicted in the bribery scandal.
A spokesman from the prosecutor's office indicates that Chung Mong Koo has confessed to some of the charges, though more specifics were not disclosed.
[Sources: The Standard; Hankooki]
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Reader Comments (Page 1 of 1)
GhostDoggy 9:37AM (6/10/2006)
This is starting to remind me of Adelphia cable and the Riga family scandal that bankrupt the company.
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