Prosecutors seek 6-year jail for convicted Hyundai chief

19 June 2007

Mumbai: 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.

Chung''s 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.

Chung''s 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 overseas.

In 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.

Chung''s 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.

Chung himself pleaded for the chance to avoid jail and make amends.