04/27/2006, 10:33 AM

Hyundai News

South Korea seeks to arrest Hyundai boss

It looks like the problems at Hyundai are just beginning to unfold. South Korean prosecutors yesterday sought an arrest warrant for Chung Mong-koo. He is charged with misusing company funds, striking a blow to the country’s family-run chaebol conglomerates. Recently, the Korea Times said Hyundai was at risk of collapse. The Leftlane Perspective: This is turning out something like the Stefan Eriksson debacle — except this one could actually impact the industry.

 
 

04/27, 10:36 AM

posted by:

Mike

its a shame too, H & Kia were starting to turn out some REALLY nice products… starting to become incredibly competitive.

04/27, 11:46 AM

posted by:

Scootness

Leave it to Chung Mongkoo to screw it up for everyone. HA! C’mon…how do they think up these names! I mean honestly!

04/27, 12:13 PM

posted by:

TW

I doubt if the Korean Government will allow Hyundai to collapse. Too much at stake, particularly when in their culture they hate to “loose face”.

04/27, 5:46 PM

posted by:

gsh

owned…thats all i have to say

04/28, 7:06 AM

posted by:

Niels

Personally, I saw it coming, but not from misusing company funds and aggressively spending money. Their cars are just cheap garbage anyhow.

 
 
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