Ministry - Hyundai plant to go ahead despite Chung arrest

01-05-2006

In other news, the Czech Trade and Industry ministry says the South Korean car-maker Hyundai still intends to go ahead with a new assembly plant in North Moravia despite the arrest last week of the company's chairman Chung Mong-Koo on embezzlement charges. Minister Milan Urban said the signing ceremony would now be held in Seoul, and not the town of Nosovice, where the one-billion-plant will be built. Mr Chung and Hyundai are accused of creating slush funds to pay politicians and officials for business favours.