By Lee Jin-joo SEOUL, May 30 (Reuters) - A South Korean court has sentenced the founder of the Daewoo group to 10 years in prison and forfeited 21.4 trillion won ($22 billion) for fraud and embezzlement in the country's biggest financial scandal. Kim Woo-choong, 69, had turned Daewoo into the second-largest conglomerate in the country before fleeing in 1999 as his empire was collapsing under more than $75 billion in debts. The Seoul Central District Court on Tuesday found him guilty of ...
Premium Content (PAID Subscription Required)
"South Korea jails Daewoo founder for 10 years" is part of the paid WardsAuto Premium content. You must log in with Premium credentials in order to access this article. Premium paid subscribers also gain access to:
All of WardsAuto's reliable, in-depth industry reporting and analysis
Hundreds of downloadable data tables including:
• Global sales and production data by country
• U.S. model-line inventory data
• Engine and equipment installation rates
• WardsAuto's North America Plant by Platform forecast
• Product Cycle chart
• Interrelationships among major OEMs
• Medium- and heavy-duty truck volumes
• Historical data and much more!
Current subscribers, please login or CLICK for support information.