SEOUL Jan 31 SK Holdings Co Ltd's
chairman Chey Tae-won was sentenced to 4 years in jail for
embezzlement, a South Korean court has ruled.
The prison term reflects the country's harsher stance
towards misdeeds by powerful corporate leaders. Shares in SK
Holdings closed down nearly 3 percent before the ruling was
SK Holdings is a holding company of the country's
third-largest conglomerate, SK Group.
Prosecutors last year accused Chey, 52, and his brother of
embezzling part of over 200 billion won ($184 million) of
corporate funds that SK Group companies had invested for
($1 = 1085.4750 Korean won)
(Reporting by Joyce Lee; Editing by Edmund Klamann and Jeremy