Hyundai Motor Co. Chairman Chung Mong-koo (File Photo)

    BEIJING, April 29 (Xinhuanet) -- The Supreme Public Prosecutors office of South Korea arrested Chung Mong-koo, the chairman of the country's top auto maker Hyundai Motor group on Friday on charges of embezzlement and breach of trust.

    The prosecutors alleged Chung used about 130 billion won (roughly 137 million U.S. dollars) in company money to create a slush fund to win favours from government officials. They also accused him of breach of trust and incurring about 400 billion won in damages to the company.

    Embezzlement and misappropriation of corporate funds in cases involving more than 130 billion won can carry life jail terms in South Korea.

    Officials have also drawn a bead on Chung's 35-year-old son, Chung Eui Sun, the president of Hyundai affiliate Kia Motors Corp.(1 U.S. dollar=942 won)  Enditem

    (Agencies)

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