from BBC News
The chairman of Hyundai Motor Company, one of South Korea’s biggest firms, has been sentenced to three years in jail for embezzlement and breach of trust.
Chung Mong-koo, 68, was accused of amassing a multi-million dollar slush fund for personal use and to pay lobbyists and politicians.
A spokesman for South Korea’s top auto maker said the ruling was disappointing and that an appeal would be filed.
The court allowed Chung to remain on bail while he fights the appeal.
Before the verdict, analysts said the conviction could harm South Korea’s car sector and the wider economy.