May 11, 1998 (April 16) Tiger years, Korean Kia poor management close, chairman arrested for corruption and dereliction of duty. May 11, 2011,

1998 (? v history today?? com) Korean Prosecutor's Office decided to arrest former chairman of the Kia Group Jinshan Hong inventory serving him during corruption and malfeasance, pursued his Kia Group fall into the responsibility of operating crisis. (Lssdjt.cn)
Jinshan Hong began in 1993 as the Kia Group Chairman. In July 1997, ranked eighth in the large enterprise groups in Korea Kia Group into a business crisis. At that time, in order to timely processing of the Kia Group, the government and creditors, led by several major banks have repeatedly urged Jinshan Hong give up the right to operate, but Jinshan Hong refused to give up. With the worsening of the financial situation of the country, the Government had to force announced in October 1997, the collapse of Kia Group. (����d��y����h�� $ �Ө�ry.c��m)
Korean judiciary investigation that large enterprises pivotal as Korea, Kia Group delays of Korea from the adverse effects of the financial crisis. In addition, in order to maintain their right to operate Jinshan Hong, who embezzled public funds to purchase shares of the Company, and used his authority to provide payment guarantees for their friends and relatives. His behavior had constituted the crime of dereliction of duty and embezzlement.