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Former Haitai Group CEO Found Guilty

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By Park Si-soo

Staff Reporter

A former business leader was found guilty Monday of embezzling corporate funds.

The Seoul Central District Court sentenced Park Kun-bae, a former chief administrator of Haitai Group, to an eighteen month prison term..

Park was indicted last November for embezzling 3.5 billion won from six Haitai subsidiaries.

``It is clear he directly or tacitly pressed the then heads of the six subsidiaries to support his embezzlement by using his corporate management power,'' the court said.

pss@koreatimes.co.kr