Chairman of Hyundai Motor Approved for Release
There is soaring denouncement against a Korean court that has approved a request for release of jailed Hyundai Motor Chairman Chung Mong-koo (68) who was imprisoned for 61 days for embezzling 79.7 billion won from his company and affiliates. A source from a civic group said that this is very different from the prosecution’s assertion that it will severely punish any tycoon’s financial crime.
Kim Dong-ho, a head prosecutor who investigated the Hyundai embezzlement scandal, explained yesterday that he decided to release imprisoned Chung on 1 billion won bail.
The court added, “We made the decision in light of multiple viewpoints including the national economy, the principle of nonrestraint criminal judgment, and his health condition. Staff of Hyundai Motor have asserted that his trial, which began earlier this month, has impacted major expansion plans by the automaker including the construction of new plants in Eastern Europe.
As soon as Chung was released yesterday, he was rushed straight to Youngdong Severance Hospital. A staff member of Hyundai Motor, waiting to see his boss released, said that they thanked the courts for the decision to allow the 1 billion won bail.
Some civic groups and citizens denounced his release from prison. Park Wan-gi of a civic group said, “We want the court to punish white color crimes severely. And we expect this bail measure will not influence his judgment.” Kim Sang-jo pointed out that if the court permitted him to be released because of bad influence on the national economy, this case shows clear evidence the decision of the court is very lenient toward conglomerate crime.
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 / 입력시간: 2006. 06.30. 09:44
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