Hyundai chairman returns to work
Hyundai Motor's chairman returned on Friday to the helm of South Korea's largest carmaker after spending three months in jail.india Updated: Jul 14, 2006 14:09 IST
Hyundai Motor's chairman returned on Friday to the helm of South Korea's largest carmaker after spending three months in jail and also hospitalised following a slush fund scandal that has caused delays in Hyundai's expansion projects. Chung Mong-koo Chung, 68, was released on bail late last month, two months after his arrest on charges of embezzling money from affiliates to create slush funds. He was immediately hospitalised for a health exam for high blood pressure, a lung problem and dizziness, and was released Thursday.
The executive resumed work Friday morning with a meeting with Bob Riley, governor of the US state of Alabama.
The two "exchanged views on ways to expand and further develop Hyundai's project in Alabama," the company said in a statement. The automaker opened a plant in Alabama last year.
Chung's absence apparently caused with problems with the company's decision-making process.
Following Chung's arrest, Hyundai has indefinitely postponed a groundbreaking ceremony for a new plant in the Czech Republic. Affiliate Kia Motors Corp. also delayed a similar ceremony for a factory in the US state of Georgia.