Hyundai Motor chairman Chung Mong-koo was convicted of embezzling $200 million from his company. He was sentenced to three years in prison but will go free as the sentence was suspended.

This is the state of corporate governance in Korea.

So if you are convicted of embezzling $200 million from your company (stockholders), hurt its sales and reputation to the tune of another $200 million, then promise to donate $1 Billion to charity, you are able to avoid jail and REMAIN CHAIRMAN OF THE COMPANY YOU STOLE FROM.

What a joke. Investors, avoid Hyundai stock. Boycott Hyundai cars.

.................................................. .............................
"The Seoul High Court sentenced Chung to three years in prison but suspended the term for five years. The W840 billion will be used to protect the environment and build cultural facilities for low-income classes. Chung also has to give more than two hours of lectures on corporate management to the Federation of Korean Industries and contribute writings on the same issue to newspapers.

The bench upheld the guilty verdict but suspended the jail term, saying the risk to the Korean economy by putting him in jail was too great."