04/07/2008 15:20. Chung Mong-koo, chairman of the Hyundai-Kia Automotive Group, donated 480,000 shares in the company's logistic unit to a charity foundation as part of efforts to live up to his words after avoiding jail for embezzlement.

The 71-year-old CEO made the contribution of the Glovis stake, which is currently worth 30 billion won ($28.7 million), to the Haebichi Foundation, the automaker said Thursday.

``This is a decision to show how he is loyal to his promises,'' the company said.

The foundation said it aims to put forward various cultural and art projects, as well as charity activities including a special scholarship for the young... // 코리아타임즈