Daewoo founder pardoned for accounting fraud
Kim Woo-choong pardoned by president for corporate failure of motor manufacturer
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.