Embezzlement Conviction of South Korean Business Leader

Hyundai Chairman Is Convicted
Of Embezzlement, Other Charges
By EVAN RAMSTAD and LINA YOON

February 4, 2007 9:38 p.m.

SEOUL — A South Korean court found Hyundai Motor Co. chairman Chung Mong Koo guilty of embezzlement and fraud and sentenced him to three years in prison, breaking a pattern of leniency for high-profile executives convicted of white-collar crime and showing an increasing resolve in raising the standards of corporate governance for the nation’s big companies.

For more on this breaking story, see the Wall Street Online Journal.

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