Head of Hyundai Motor Jailed....

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The head of Hyundai Motor was sentenced to three years in jail for embezzling funds from the car maker, dealing another blow to a company battling a rising won and restive labour unions.

The surprise ruling - the expectation was that Hyundai Motor Chairman Chung Mong-koo would get a suspended jail sentence - initially sent shares in the country's top carmaker down over 3 per cent today as investors worried about a management vacuum.

Mr Chung (68) wearing a dark grey suit, appeared shaken after the verdict. He quickly left the courtroom, which was filled to capacity with Hyundai group employees, including Mr Chung's son, Chung Eui-sun, the president of sister company Kia Motors.

Mr Chung, who will be appealing the sentence, was arrested last April on allegations that Hyundai and its affiliates set up slush funds to pay for political favours.

Hyundai shares fell as much as 3.15 per cent following the sentencing but recovered to close flat at 69,800 won.

Shouldn't it be for buildin sxxtbox cars????