Kim Woo-choong, the founder of the now bankrupt and splintered Daewoo Group, has been placed on Interpol's Internet Wanted List. Interpol stated that an arrest warrant has been issued for the 68-year-old man on charges of fraud leveled against the tycoon in 1999. Kim Woo-choong fled Korea after the conglomerate collapsed in late 1990s under debts amounting to $80 billion.
South Korea’s National Police Agency requested Interpol to make public Kim's arrest warrant. Prompting the request were recent sightings of Kim in various locations, including Germany, the United States, Vietnam, and Sudan. In fact, some have even reported that Kim has on occasion slipped back into South Korea.
Kim, who established the Daewoo empire benefited from two decades of government-supported industrial and manufacturing drive in the 60s and 70s. Kim and Daewoo’s entrepreneurial achievements collapsed in the wake of the 1997 financial crisis.
Some Korean speculate that the once popular tycoon may be planning to stay abroad until 2009 when the 10-year statutory limitation will expire for the charges against him.
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