Ex-president of Kia Faces Possible 12 Year Sentence

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Ex-president of Kia Faces Possible 12 Year Sentence

The Central Investigation Department of the prosecutor's office proposed 12 years' imprisonment for Kim Sun Hong, the former president of Kia on September 28. Kim was prosecuted on suspicion of misappropriation of funds and embezzlement.
Prosecutors also demanded seven years' imprisonment for the former high-ranking executives of Kia including Lee Ki Ho, Han Sung Jun, and Park Je Hyuk. Prosecutors said, 'The former executives of Kia deceived the financial institutions with window-dressing settlements and borrowed plenty of money which resulted in financial insolvency.'
The lawyers for ex-executives of Kia said, 'Some officials and bankers are responsible for Kia's insolvency because they helped a certain chaebol try to buy Kia.' Kim, the former Kia president commented, 'I apologize to all persons who suffered from the insolvency of Kia.'
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