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Business Leaders Ask Government to Pardon 54 Executives Behind Bars

Business Leaders Ask Government to Pardon 54 Executives Behind Bars

Posted July. 04, 2007 03:43,   


Five groups of business leaders in Korea, such as the Federation of Korean Industries, reportedly have asked Cheong Wa Dae to pardon 54 business executives who are serving time on charges of window dressing and bribery among others. As a tradition, the government has pardoned inmates on the Korean Independence Day.

According to a press release yesterday, the business leaders submitted a petition to the Cheong Wa Dae last week, asking for the release of 54 “serving” business leaders, including former Daewoo Chairman Kim Woo-jung.

The leaders previously filed a petition for the 37 businessmen, who are also included in the present petition. They are former Haitai Chairman Park Geon-bae, former Shindongah Group Chairman Choi Sun-yeong, Halla Construction Chairman Chung Mong-won, Sun and Moon Chairman Moon Byeong-wook, and Taekwang Chairman Park Yeon-cha to name just a few.

Besides them, an additional 17 businesspersons are included in the present petition, including Sungwon Construction Chairman Jeon Yun-soo, Korean Line Corporation Chairman Lee Jin-bang, and other “relatively medium-sized” corporate leaders and CEOs.

Hyundai-Kia Chairman Chung Mong-koo and Hanwha Chairman Kim Seung-yeon are not mentioned in the petition, since their cases are still pending.