Seoul Court Releases CEOs Tied to Local Projects
The chief executives of two companies behind major developments in Cambodia-who were jailed in Seoul in February for their part in a major South Korean financial scandal-have been partially cleared and released, according to a court official. Lee Sang-ho – the CEO of World City Co. Ltd., which is building the stalled CamKo satellite city project in Phnom Penh, and Lee Taehwan-chief of NSRIA Co. Ltd., the company that announced a billion dollar airport project for Siem Reap that never broke ground-were given five and seven years, respectively, in February. … Oh Yong-kyu, an information officer at Seoul High Court, said in an email yesterday that in an appeal hearing on Friday, the court delivered an innocent verdict for both men for their charges of malfeasance. …
