The June 12 arrest of a former Ministry of Finance official, Byon Yang-ho, on charges of accepting bribes from an illegal Hyundai Motor Group slush fund, is potential dynamite in the case against Chairman Chung Mong-koo, Korean observers say. Chief Prosecutor Chae says Byon, former director general of the banking policy bureau of Korea’s Ministry of Finance, is charged with taking bribes from Hyundai officials in 2001 and 2002. Chae says in media reports Byon allegedly received payments ...
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