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09:34 GMT, Tuesday, 20 May 2008 10:34 UK

New attempt to jail Hyundai boss

Chung Mong-koo, Hyundai's boss

South Korean prosecutors have made new attempts to see the Hyundai boss convicted of embezzlement behind bars.

Prosecutors have reiterated that they want to see Chung Mong-koo go to prison for six-years.

The case was reignited in April, when South Korea's Supreme Court rejected a 2007 three-year suspended sentence given to Mr Chung as being unlawful.

Mr Chung failed to have a guilty verdict overturned, but the suspended sentence allowed him to keep working.

Tax evasion

The case has been dragging on for months, with concerns that if he goes to prison it would harm one of the country's key exporting companies - an argument his lawyers have exploited.

Hyundai Motor group makes up 7% of exports from what is Asia's fourth largest economy.

At the time that his sentence was suspended, chief judge Lee Jae-Hong said he had taken into consideration issues beyond the nature of his crimes, arguing that he was crucial for the economy.

The case comes soon after Lee Kun-hee, Samsung's chairman, announced he would leave his post following his indictment for tax evasion and breach of trust.

Certain South Korean firms have come under fire for being run like family operations, with complicated share ownership structures and inadequate transparency.



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Related to this story:
Guilty Hyundai boss escapes jail (06 Sep 07 |  Business )
Court insists on Hyundai sentence (19 Jun 07 |  Business )
Battered Hyundai sees profit fall (02 May 07 |  Business )
Hyundai's boss gets three years (05 Feb 07 |  Business )
Jail demand for Hyundai chairman (16 Jan 07 |  Business )
Hyundai chairman Chung indicted (16 May 06 |  Business )

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