Right when the national prosecution was intensifying its investigation into Hyundai slush funds, chairman Chung Mong Koo got on a plane for San Francisco. Hyundai Motors explains that the left on a one week itinerary during which he will travel to the American state of Georgia to inspect progress on a factory there and to encourage sales in the region. It said the trip was planned long ago. Nevertheless, a lot of people think it has something to do with taking flight. People have long seen jaebeol tycoons suddenly take off for overseas in situations such as this, so that is not an unreasonable suspicion.
There is no need to rush to a conclusion. Just wait a week to see whether Chung was making his escape. He has long emphasized the importance on "on site management" and visited production plants with some frequency, so Hyundai's explanation does not automatically sound like a desperate excuse.
Whether Chung's choice of action was appropriate, however, is another issue. Whether in politics or in business, those who are considered part of the so-called "leadership class" need to behave in a responsible manner. He should explain himself straightforwardly if he feels wrongly accused, and bear responsibility if he has done wrong. Our society has always lacked that kind of thing. It is why people do not look at his departure approvingly. At Hyundai is highly concentrated around Chung. There are slush funds, and if by chance they were amassed without Chung's knowledge, you would expect him to be angrier than anyone else and punish those involved. There are also questions about the group's inheritance practice. All the more reason to behave prudently.
Chung needs to delay his return not a day more. He should come back and explain what needs to be explained and bear responsibility for what he should bear responsibility for. If he does not, he will just invite misunderstanding and speculation. It would be even better if he explains things personally before returning.
The Hankyoreh, 4 April 2006.
[Translations by Seoul Selection]
[Editorial] How Hyundai's Chung Can Avoid Causing Doubts |
