Hyundai Motor Group Chairman Chung Mong-koo is in police custody under arrest on charges of embezzlement and misappropriation of company funds. Prosecutors reportedly are seeking to indict his son, Kia Motor Corp. President Chung Eui-sun, without detaining him. At issue are alleged bribes said to have been paid to public officials to help group companies and their officials, including the auto makers, acquire various licenses, dump debt and earn windfall profits through the sale and ...
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