By Kang Shin-who
Staff Reporter
Prosecutors sought a 6-year prison term for Chung Mong-koo, chairman of Hyundai Automotive Group, Tuesday on charges of embezzlement and illegal stock dealing. The prosecutors' demand came after the Supreme Court last month ordered a review of a lower court's ruling that gave him a suspended jail term.
Chung has been convicted of embezzling over 90 billion won ($92 million) of company money to create a slush fund and transferring stocks to his son at bargain prices.
His case was returned to the Seoul High Court in April after the top court said that the lower court's verdict was inappropriate.
The appellate court had ordered Chung to provide community services, including lectures on the theme of law observation and suspended a three year jail term for five years.
However, the Supreme Court sent the case back to the lower court, calling the ruling on community services ``vague.''
In September, the high court ordered Chung to pay 840 billion won ($809 million) in donations, previously pledged by his family, deliver speeches about transparent management and write essays about transparent corporate governance.