Skip to main content
CNN EditionWorld
The Web    CNN.com     
Powered by
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
SERVICES
 
 
 
SEARCH
Web CNN.com
powered by Yahoo!

Hyundai tour boss 'jumps to death'

Chung Mong-hun, right, was a son of Hyundai founder Chung Ju-yung.
Chung Mong-hun, right, was a son of Hyundai founder Chung Ju-yung.

Story Tools

more video VIDEO
CNN's Sohn Jie-Ae reports on the death of Hyundai executive.
premium content

SEOUL, South Korea -- A top executive at South Korea's Hyundai Group, who is being probed in connection with a scandal over secretive payments to North Korea, has been found dead after jumping to his death.

Chung Mong-hun, chairman of Hyundai Asan Co., a company that focuses on business projects in the North, killed himself at about 6 a.m. Monday (2100 GMT Sunday) by leaping from his 12th-floor office in central Seoul, local police told The Associated Press.

A female secretary found Chung dead on the ground at the company's headquarters. The 54-year-old was the son of the late Chung Ju-yung, founder of what was once South Korea's largest business group.

State and private media reported Chung had left a four-page will for his wife and for Hyundai Asan, but without saying why he took his life, Reuters reports.

The suicide note sought forgiveness and urged joint economic ventures with North Korea.

The top South Korean executive was on trial for charges stemming from allegations his company helped former President Kim Dae-jung's government secretly pay North Korea $100 million to get Pyongyang to agree to a landmark summit.

Pyongyang hosted the three-day summit for leaders of both Koreas in June 2000.

Kim won a Nobel peace prize of his efforts of reconciliation with the North.

Chung was also being investigated for alleged doctoring of company books and siphoning billions of dollars into slush funds. He was forbidden to leave the country and had faced a number of court proceedings.

So far, eight former government officials and Hyundai workers have been indicted in the scandal. If convicted, some could face up to five years in prison.

Hyundai Asan is separate from Hyundai Motors, though they both used to be branches of the Hyundai Group.

After Hyundai Group founder Chung Ju-yung died in 2001, the various branches of the company spun off and became separate entities.

Mong-hun was the younger brother of current Hyundai Motors chairman Chung Mong-koo.

Hyundai Asan handles Hyundai's North Korean projects as well as various tourism activities, including tours to the North's Mt. Kumgang resort.

-- CNN Correspondent Sohn Jie-ae contributed to this report.


Story Tools
Subscribe to Time for $1.99 cover
Top Stories
Iran poll to go to run-off
Top Stories
CNN/Money: Security alert issued for 40 million credit cards
 
 
 
 

International Edition
CNN TV CNN International Headline News Transcripts Advertise With Us About Us
SEARCH
   The Web    CNN.com     
Powered by
© 2005 Cable News Network LP, LLLP.
A Time Warner Company. All Rights Reserved.
Terms under which this service is provided to you.
Read our privacy guidelines. Contact us.
external link
All external sites will open in a new browser.
CNN.com does not endorse external sites.
 Premium content icon Denotes premium content.
Add RSS headlines.