Prosecutors have demanded a six-year jail term for Hyundai Motor Co. chairman
Chung Mong-koo in his appeal trial against a three-year sentence handed down in
February for embezzlement.
crimes have dealt a serious blow not only to his company, but also to South Korea''s
image overseas, said a team of three prosecutors arguing the case. The sentence
is too light," prosecutor Lee Dong-ryul told the court.
lawyers have sought a suspended sentence, whereby the Hyundai chief would not
serve a prison time unless involved in other crimes. In other words, he will be
free on bail and running the world''s sixth-largest automaker, sometimes traveling
February this year, Chung, 69, was sentenced to three years in jail for breach
of trust and embezzling over $100 million worth of funds to set up a slush fund.
lawyers have called for leniency, citing the contributions Chung has made to the
South Korean economy. They said Hyundai is at a crucial stage and cannot afford
to lose Chung''s leadership as it expands aggressively overseas.
himself pleaded for the chance to avoid jail and make amends.
ask for an opportunity for me to contribute to the company and the national economy
one last time," he told the court.
one of South Korea ''s richest men, has repeatedly expressed regret and vowed to
donate $1.1 billion worth of personal
assets to society.
very sorry to have created big problems with this case and raising concerns of
the people," Chung told the court.
other Hyundai officials facing similar charges were also convicted in February,
but all were given suspended sentences.