Former Daewoo Head, Kim Woo-Choong to Return to Korea
Rumors have surfaced that former Daewoo chairman Kim Woo-choong will return to Korea. According to Chosun Ilbo, a team of government prosecutors has already started preparing the case against the Daewoo founder.
One of Kim's Woo-choong lawyers said the former Daewoo chairman's health had been deteriorating after a long time and he had made up his mind to come home.
Kim has lived abroad for the last five years, ever since he disappeared following a completion ceremony for a Chinese car parts factory in October 1999. Shortly after that Daewoo went bankrupt with over $60 billion in debts.
The South Korean Supreme Court sentenced the former presidents of Daewoo subsidiaries $23 billion in fines and imprisonment for accounting fraud.
Some feel that because Kim is finally ready to return Korea that he has already worked out an amnesty deal with the government.
One of Kim's Woo-choong lawyers said the former Daewoo chairman's health had been deteriorating after a long time and he had made up his mind to come home.
Kim has lived abroad for the last five years, ever since he disappeared following a completion ceremony for a Chinese car parts factory in October 1999. Shortly after that Daewoo went bankrupt with over $60 billion in debts.
The South Korean Supreme Court sentenced the former presidents of Daewoo subsidiaries $23 billion in fines and imprisonment for accounting fraud.
Some feel that because Kim is finally ready to return Korea that he has already worked out an amnesty deal with the government.
Comments
Post a Comment