Prosecutors investigating an alleged political slush fund at Hyundai Motor Co. on Friday dropped charges against Chung Eui Sun, president of Kia Motors Corp., which is owned by Hyundai.
But they added two more breach-of-trust charges against his father, Hyundai Chairman Chung Mong Koo. Allegations that Chairman Chung embezzled money for the slush fund led to his being jailed in late April.
Prosecutors also brought charges against Hyundai's vice chairman, Kim Dong Jin, as well as its CFO and its senior vice president for domestic sales. The three are banned from traveling.
Supporters of Chairman Chung, 68, had hoped that Friday's hearing might lead to his release. Instead, he remains incarcerated. He awaits further hearings this week.
You may e-mail James B. Treece at [email protected]