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| A court sentenced Kim Seung-youn to four years in jail |
A South
Korean court has sentenced Kim Seung-youn, chairman of the Hanwha group, to
four years in prison for embezzlement.
The court
said Kim had failed to show any remorse for using his position to benefit
himself and his family, causing the company financial losses.
His
sentence included a fine of 5.1bn won ($4.5m, £2.8m). A Hanwha spokesman said
he would appeal against the verdict.
Kim was
taken into custody immediately.
The move to
send him straight to prison was seen as unusual, as previous cases involving
top business officials had led to suspended sentences.
"We
did not expect that Chairman Kim would actually be imprisoned," a Hanwha
official was quoted as saying by Yonhap news agency.
The court
said that Kim used Hanwha affiliates to "unfairly support" companies
that he owned. It also said he used his influence to help companies run by his
brother.
"Chairman
Kim incurred losses to the company by taking advantage of his influence as the
Hanwha Group's major shareholder," the court said.
Kim was
convicted in 2007 for abducting and assaulting workers in a karaoke bar, but
his sentence was eventually suspended.
Hanwha is
one of the largest business conglomerates in South Korea. It has 53
subsidiaries that span manufacturing, construction and finance companies.
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