Hyundai Boss Receives a Fine of 43 Million Euros
Chung Mong-koo, Hyundai boss will have to pay a fine of 43 million company. Head company Hyundai, Chung Mong-koo (pictured), is obliged to pay the company 43 million to offset damage to the company following the wrong decisions taken at management level.
The decision was made after boss Hyundai, Chung Mong-koo was convicted of embezzlement and breach of trust in prison suspended for 3 years before being grace of South Korean President Lee Myung-bak.
"It is a case management problem reflects a family that focus on decisions in favor of majority shareholders and directors.
One of those on trial Hyundai boss, group Solidarity for Economic Reform, said the decision will aopel civil court, provided that the amount that Chung Mong-koo have to return is too small compared the damage caused company.
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