Hyundai Execs Ordered To Repay Co. $73M

Law360, New York (February 25, 2011, 7:30 PM EST) -- A South Korean court overseeing a shareholder case on Friday reportedly ordered Hyundai Motor Co. Chairman Chung Mong Koo and another executive to pay about 82.6 billion won ($73.3 million) in damages to their company for unfairly helping certain affiliates.

Chung will pay 90 percent of the total, or 74.6 billion won, while Kim Dong-jin, the vice chairman of Hyundai affiliate Hyundai Mobis, will pay 10 percent of the total, or 8 billion won.

“Chairman Chung must shoulder the responsibility of compensating for damage to Hyundai...
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