[THE INVESTOR] A former chief of state-run rail operator Korea Railroad Corp. was sentenced to jail on July 21 for receiving illegal political funds from a businessman.

The Seoul Central District Court sentenced Huh Joon-young to 10 months in prison, suspended for two years, for receiving a total of 80 million won (US$70,000) from a man identified only by his surname Sohn, between April 2012 and September 2014. The court also ordered Huh to forfeit the money.

The 63-year-old was indicted in April on charges of receiving 20 million won in bribes from Sohn in 2011, in return for helping him clinch business contracts related to a now-scrapped urban development plan in Seoul’s Yongsan district in addition to the illegal political funds allegations.

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