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S.Korea demands 6 yrs in jail for Hyundai head

From Reuters| June 20,2007

South Korean prosecutors on Tuesday sought a six-year jail term for Hyundai Motor Group's chairman for embezzlement at a court hearing of his appeal against a three-year sentence handed down in February.

In February, a South Korean court sentenced Chung Mong-koo, the chairman of the world's No.6 automaker, to three years in jail, saying it found him guilty of embezzlement and breach of trust.

But the court decided not to revoke Chung's bail terms, citing the need to protect the national economy and to give him time to prepare his appeal.

He filed an appeal against the sentence, while South Korean prosecutors issued a counter appeal asking for the original sentence to be increased.

Chung has been on trial on charges including embezzlement of company funds, incurring losses at group companies and operating slush funds.

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