Hyundai Securities chairman faces new law suit

The Korean Financial Supervisory Service will sue the chairman of Hyundai Securities.

The Korean Financial Supervisory Service will sue chairman of Hyundai Securities Company Lee Ick-chi for his alleged violations of foreign exchange transaction laws.

The FSS will bring up Lee's case in its regular meeting on Friday prior to taking formal action against him.

Lee is accused of writing a memorandum to Hyundai Heavy Industries vowing to compensate it for any damages the shipbuilding firm might suffer as a result of backing a loan to Hyundai Electronics from a Canadian...

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