Daewoo dissolution and corruption scandal trillion won (US$10.3 billion), and smuggling US$3.2 billion out of the country. On 30 May 2006, Kim was sentenced to 10 years in prison after being convicted of fraud and embezzlement. On the last day of the trial, Kim tearfully addressed the court, "I cannot dodge my responsibility of wrongly buttoning up the final button of fate." On 30 December 2007, Kim was granted amnesty by President Roh Moo-hyun. Daewoo dissolution and corruption scandal Daewoo dissolution and corruption scandal refer to the 1999-2006 scandal in South Korea involving the bankruptcy of Daewoo, then-country's second largest company, and a subsequent corruption
Daewoo had ended. The group was reorganized into three separate parts: "Daewoo Corporation", "Daewoo Engineering & Construction " and "Daewoo International Corporation". They are active in many markets, most significantly in steel processing, ship building and financial services. The corporate entity known as "Daewoo Corporation" is now known as "Daewoo Electronics" and is focused solely on manufacturing electronics. Daewoo Electronics survives to this day, despite bankruptcy, with a new brand logo "DE", but many of the other subsidiaries and divisions have become independent or simply perished under the "reorganization" by the Korean government under Kim Dae Jung. In North America, Target