Where Will Bribe Scandal Steer Hyundai?
Just a month ago, Hyundai Motors Chairman Chung Mong Koo was one of the most respected CEOs in both Korea and the global auto industry. He had, after all, transformed Korea's largest carmaker from the butt of talkshow jokes about shoddy workmanship into a leader in customer satisfaction surveys. And from next-to-nowhere a decade ago, he had built the Hyundai Motor Group into the world's No. 7 auto maker. So great was his confidence that he predicted the group could leap into the No. 5 spot within five years.
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