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Hyundai Motor CEO Gets Suspended Jail Term

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  • Published Jun 3, 2008 4:41 pm KST
  • Updated Jun 3, 2008 4:41 pm KST

A Seoul high court Tuesday confirmed its previous suspended jail term for the chairman of South Korea's top automaker but ordered him to perform community service involving manual labor.

In a retrial ordered by the Supreme Court, the court gave Hyundai Motor Chairman Chung Mong-koo a suspended five-year term for embezzlement and breach of trust.

The court ordered 300 hours of community service for Chung instead of obliging him to give lectures or contribute business articles to newspapers as punishment.

In April, the Supreme Court ordered a retrial of Chung's case, saying that part of an earlier ruling by a lower court for him was legally inappropriate.

In the appeals court ruling, Chung was also ordered to carry out his earlier promise to contribute 840 billion won ($827 million) to charities.

Chung, 69, was sentenced to three years in prison in February last year for breach of trust and embezzling 90 billion won ($87.4 million) in company funds through fraudulent accounting.

It was not immediately known whether prosecutors, who had sought a six-year prison term for Chung, would appeal the latest ruling.

Hyundai Motor and its affiliate Kia Motors have a combined market share of 75 percent in South Korea.