[an error occurred while processing this directive]
BBC News
watch One-Minute World News
Last Updated: Monday, 13 June, 2005, 06:29 GMT 07:29 UK
Fugitive Daewoo boss to fly home
Daewoo ex-chairman Kim Woo-Choong in 1998
Kim Woo-Choong was Daewoo's chairman and founder
The fugitive ex-boss of Daewoo Group will return to South Korea on Tuesday and plans to surrender to prosecutors, according to the South Korean media.

Kim Woo-Choong fled abroad six years ago after Daewoo Group, one of South Korea's biggest conglomerates, collapsed with debts of $80bn.

Seven other former Daewoo executives were found guilty of fraud, and Mr Kim could face similar charges.

He is expected to arrive at Incheon International Airport from Vietnam.

"It is up to the prosecutors what happens but he will be ready to give himself up to them," Baik Kee-Seung, a spokesman for Mr Kim, was quoted by the Agence France Presse news agency as saying.

The Daewoo conglomerate's best known subsidiary, Daewoo Motors, is now owned by US carmaker General Motors.

Mr Kim's whereabouts have been a mystery, though there have been reports of him living in Vietnam and Europe.

Mr Baik said the 69-year-old tycoon was in poor health.




SEE ALSO:
GM sues Chinese firm for copying
09 May 05 |  Business
Daewoo fugitive assets uncovered
08 Nov 01 |  Business


RELATED INTERNET LINKS:
The BBC is not responsible for the content of external internet sites


PRODUCTS AND SERVICES

News Front Page | Africa | Americas | Asia-Pacific | Europe | Middle East | South Asia
UK | Business | Entertainment | Science/Nature | Technology | Health
Have Your Say | In Pictures | Week at a Glance | Country Profiles | In Depth | Programmes
Americas Africa Europe Middle East South Asia Asia Pacific