SEOUL: Cho Hyun-bum, chief executive of Hankook Tire & Technology, South Korea’s top tyre maker, was arrested today on charges that include allegations of taking bribes, a court spokesman said.
Hankook Tire declined to comment. Hankook was not able to provide details of Cho’s lawyer.
Family-controlled Hankook Tire is one of the world’s top 10 tyre makers, whose customers include Hyundai, Ford and Volkswagen.
A court here had issued the arrest warrant for Cho late today. Yonhap News Agency reported that prosecutors charged him with taking around 500 million won (RM1.8mil) in kickbacks from suppliers and misappropriating funds at affiliates.
