Hyundai Chief Chung Offers $1.1B Apology - Forbes.com: "ondon -
Clean hands? Human hubris so often leads to doom, yet Hyundai Motor Chairman Chung Mong-koo's decidedly Faustian deal may turn him from supervillain to superhero in one fell swoop.
Chung's offer to donate about one trillion won ($1.1 billion) to charity as part of an apology for the illegal lobbying scandal that has hit the group is an eleventh-hour gesture that may save his skin. To ward off any suspicion that Chung is seeking irregular means to turn control of the group over to his son Chung Eui-sun, the two have decided to make a charitable donation of their entire 60% shareholding in Glovis, a Hyundai logistics unit."
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