South Korea's second largest business group's head returned home from his one week U.S. trip early Saturday morning to face investigation of alleged slush funds and illegal transfer of wealth to his son.

Chung Mong-koo, chairman of Hyundai Motor Group, arrived at Incheon International Airport, west of Seoul, earlier Saturday morning, reported South Korean Yonhap News Agency.

Chung made a brief statement in which he apologized for causing concerns, but that he had no knowledge of any slush funds connected to the company.

"I understand an investigation is going on now. As the prosecution is investigating I will be ready to answer their questions," Chung told reporters.

Chung abruptly left for the United States last Sunday, raising suspicions that he had fled the country to avoid the prosecution's investigation.

Moreover, the Supreme Prosecutor's Office also issued an exit ban on Chung's only son Chung Eui-sun, president of Kia Motor Co, earlier this week. Kia Motor is an important affiliate of Hyundai Motor Group.

However, the Hyundai Motor Group said the chairman visited the company's U.S. sales outlets and production sites and engaged in other management activities over the past week.

The business group is suspected of having established slush funds totaling billions of won, or millions of U.S. dollars, through its key affiliates to bribe influential politicians and government officials over the past several years.

Meanwhile, South Korean prosecution is also probing suspicion of Chung and his son's direct involvement in illicit wealth transfer schemes and stock deals.

Hyundai Motor Group is South Korea's second-largest conglomerate and controls more than 70 percent of the domestic auto market.

Source: Xinhua