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Posted by Bhumika Ghimire Apr 27, 2006 |
According to the International Herald Tribune, "Prosecutors said Thursday that they were seeking a warrant of arrest for Hyundai Motor's chairman, Chung Mong Koo, on fraud and corruption charges, overriding the pleas of suppliers and employees to show leniency to avoid harming one of the country's most important conglomerates."
His supporters fear that this move against Mr. Koo will destabilize the world's seventh largest auto marker, in turn affecting the South Korean economy.