Thus climaxed a family boardroom drama that has rocked Hyundai, the largest chaebol , and Korean business.
Agnew noted that significant corporate reform was taking place in Seoul, despite claims that taking on the much-vaunted chaebol , or conglomerates, would be impossible.
Nokia was originally the Finnish equivalent of a Korean chaebol , a conglomerate that manufactured all sorts of things, from paper to rubber to chemicals to TV sets.
Prosecutors say Kim covered up the diversion of hundreds of millions of dollars from the chaebol 's shipbuilding and trading companies to bankroll the car company.
Daewoo is the second-largest conglomerate, or chaebol , in South Korea.
What's more, he has the backing of the chaebol , the giant conglomerates that clashed so often with Kim and his Cabinet ministers.
As the administration pressed for the dismantling of the corporate conglomerates or chaebol , thousands of workers were thrown out of work and into poverty, as South Korea has little in the way of a welfare system.
Could this hatmaker-turned-bus-manufacturer be teaching Korea's mighty chaebol a lesson?
The transformation is still a work in progress, but if these pioneers can show the way for their peers, Korea's midsize companies may soon rival the chaebol as the country's economic engine.
In April, the government began letting nonbank financial arms of the chaebol vote their shares held in affiliate companies.