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Hyundai at risk of collapse?

by Nick Aziz

A widening corruption investigation into Hyundai could lead the automaker to collapse, according to the Korea Times. On Friday, two people including the former deputy governor of the state-run Korea Development Bank were reportedly taken into custody for having taken bribes to write off bad debt of Hyundai affiliates amounting to some 55 billion won in 2001, the newspaper reports. The report said observers fear "the second largest business group in Korea may be driven into collapse by this investigation on the verge of expanding."