As the investigation unfolded in the last month, the Chungs apologized to the public and announced that they would donate US$1.1 billion in personal assets to charity.
The move came after a similar one by Samsung. Last year, audiotapes emerged revealing Samsung executives giving illegal donations during the 1997 presidential election. The conglomerate's chairman, Lee Kun-hee, left South Korea for the US for several months until he was cleared of wrongdoing. Immediately after Lee returned here and asked South Koreans for forgiveness, Samsung announced in February that it would donate US$840 million to charity.
Like the Hyundai chairman, Lee Kun-hee was also under investigation for illegally trying to transfer the conglomerate's control to his son, Lee Jae-yong.
Samsung, Hyundai and other conglomerates are credited with helping to build South Korea's economy, but critics say they exercise too much power over the country's economy and politics.
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