Jump to content
News
Reviews
Discussons
Activity
Create New...
Close

  • 🚗 Your People Are Here. Get In.

    The internet is full of car content. This is the community.

    Cheers & Gears has been bringing enthusiasts together since 2001. Join the conversation, show off your garage, and find your people.

TCC: Hyundai HQ Raided

VenSeattle

By VenSeattle
in Hyundai

 Share

Recommended Posts

VenSeattle Newbie

VenSeattle

Posted
Posted

http://www.thecarconnection.com/Auto_News/...173.A10202.html

South Korean prosecution investigators Sunday stormed the headquarters of Hyundai-Kia Motor Group in an expanding corruption probe into a local business lobbyist. Local media said the investigators seized about 100 boxes of data from the headquarters in southern Seoul after hours of searching.

The seizure came after the arrest of Kim Jae-Rok, a 49-year-old business consultant, Friday for allegedly bribing politicians and others while negotiating mergers and acquisitions of South Korea's companies.

Kim is reportedly had taken "billions of won" from a Hyundai Motor affiliate called Glovis to lobby government officials over the Hyundai Motor's merger of Kia Motors.

Because of the news, share prices of Hyundai Motor and Kia Motors fell sharply Monday. -Peter Chang

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

×
 Share
Go to topic listing


  • Support Independent Automotive Journalism

    25 years of honest automotive coverage — because someone has to do it.

    Cheers & Gears has never been filtered by manufacturer relationships or driven by algorithm. Just real people, real opinions, and a genuine love of cars. Subscribers keep the lights on and get an ad-light experience starting at $2.25/month.*

    View subscription options

    *A small number of ads feature member-exclusive coupon deals and will still appear.

×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.

Hey there, we noticed you're using an ad-blocker. We're a small site that is supported by ads or subscriptions. We rely on these to pay for server costs and vehicle reviews.  Please consider whitelisting us in your ad-blocker, or if you really like what you see, you can pick up one of our subscriptions for just $1.75 a month or $15 a year. It may not seem like a lot, but it goes a long way to help support real, honest content, that isn't generated by an AI bot.

See you out there.

Drew
Editor-in-Chief

I've whitelisted
Continue without support

Write what you are looking for and press enter or click the search icon to begin your search