Seoul, 20 May 2008: South Korean prosecutors yesterday sought a six-year prison term for Chung Mong-koo, the Chairman of Hyundai Motor, after the Supreme Court last month ordered a review of a lower court's ruling that gave him a suspended jail term for embezzlement.

Chung's case returned to the Seoul High Court in April after the top court said that the lower court's verdict was not a legally appropriate punishment. The appellate court had ordered him to provide community service in the form of "corporate lectures," while suspending his three-year prison term for five years. The top court called the verdict "vague."

Chung was convicted of embezzling over $92 million (90 billion won) of company money to create a slush fund and transferring stocks to his son at bargain prices.