Daewoo founder pardoned for accounting fraud

The founder of Daewoo has been pardoned for his role in the failure of the
motor manufacturer in 2006.

Kim Woo-choong was convicted and sentenced to ten years in jail for
accounting fraud in 2006. Daewoo, once South Korea’s second-largest
conglomerate, collapsed under a $80bn (£40.3bn) debt.

Roh Moo-hyun, the outgoing South Korean president, pardoned other businessmen
and 74 politicians in a traditional New Year amnesty, the FT reports.

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