Hyundai officials arrested

Two top officials of Hyundai motor company have been arrested by Korean police investigating an illegal slush fund used to bribe public officials.

22nd April, 2006

Two top officials of Hyundai motor company have been arrested by Korean police investigating an illegal slush fund used to bribe public officials.

A former deputy governor of the Korean Development Bank was also arrested. It is alleged that Hyundai embezzled millions of dollars from affiliates.

The money was used to help the company gain approval of construction permits.

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