The Big Boss of Hyundai is Fined

-Seoul, Because of the large loss making company, Hyundai Motor Chairman who is also one of the richest men in South Korea's Chung Mong-Koo was fined millions of dollars. As quoted by AFP on Monday (8/2/2010) The court ordered the City of Seoul Chung Mong-Koo to pay at least U.S. $ 60 million for taking the decision to make Hyundai loss. Chung Mong-Koo previously sued by minority shareholders and NGOs Hundai Solidarity for Economic Reform in the year 2008. They demanded that Chung Mong-Koo and Kim Dong-Jin, Vice President Hyundai Mobis to pay the Hyundai suffered losses in 2001 due to the sale of the company Hyundai Airspace Aircraft Co. and Hyundai Hysco. "This case shows the problems experienced by companies run by families who simply focus on the interests of major shareholders and executives only," the statement Seoul court.