Hyundai Chairman Gets 3 Years in Prison

Hyundai Automotive Group Chairman Chung Mong-koo was sentenced to three years in prison Monday for embezzling about 90 billion won ($96 million) in company funds and causing 210 billion won in loss to group affiliates through breach of trust.Chung, 68, was arrested last April after prosecutors claimed he was involved in a series of financial irregularities since 2002, including raising 69.3 billion won in slush funds through six group affiliates and using the money to unlawfully transfer corporate wealth to his family.