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Hyundai Chairman Chung Mong-Koo Arrested


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SEOUL, South Korea - April 28, 2006: Associated Press

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Hyundai Chairman Chung Mong-koo (file photo)

is reporting that Korean prosecutors have arrested Hyundai Motor Co. Chairman Chung Mong-koo in an embezzlement and slush fund scandal that threatens to engulf South Korea's #1 automaker.

The report states that the arrest was announced by a prosecution spokesman.