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Home >> World
UPDATED: 07:40, March 28, 2006
Hyundai Motor Group head banned from leaving S.Korea for affiliate's illegal lobbying
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Chung Mong-koo, chairman of Hyundai Motor Group, was banned from leaving South Korea in connection with an investigation to suspected illegal political lobbying by the group's affiliate, local media reported Monday.

SBS-TV, one of the three most influential TV stations in South Korea, reported in the evening that Chung, along with other high- ranking Hyundai Group's officials, including his son Chung Eui-sun, was banned from leaving the country. Hyundai Motor Group is South Korea's largest automaker.

"Following a 15-hour raid on the headquarters of the Hyundai Motor Group on last Sunday, the prosecution imposed an exit ban on about 20 group executives on Monday," the TV said.

"It has been confirmed that Chairman Chung and his son, as well as Hyundai Motor President Chae Yang-ki, were included on the exit ban list," said the report.

Chung Eui-sun is president of both Kia Motors Corp., a key affiliate of the Hyundai motor group, and auto parts maker Hyundai Mobis.

However, the report was not confirmed by the Supreme Public Prosecutors' Office.

The Supreme Public Prosecutors' Office had earlier apprehended Lee Ju-eun, president of Glovis Co., a Hyundai Motor logistics unit, and the company's top financial official, identified only by his family name Kwak, on suspicion that they provided billions of won in company funds to a lobbyist, who was arrested on a separate bribery charge, in return for helping Hyundai receive business favors from the government and financial institutions.

The lobbyist, Kim Jae-rok, was arrested last week on charges of bribing politicians and government officials.

Last Sunday, prosecution investigators raided the headquarters of Hyundai, Kia and two subsidiaries -- Glovis and Hyundai Autonet, which manufactures car audio equipment, and seized about 100 boxes of documents from them.

Source: Xinhua


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