A Seoul court on Friday allowed the convicted chairman of food and entertainment conglomerate CJ Group to stay out of prison for another two months, citing his poor health, court officials said.

The custody suspension of Lee Jay-hyun, who has been staying at a Seoul hospital since being temporarily released from prison, will be extended until April 30, said the officials at the Seoul Central District Court.

The court earlier this month sentenced the 54-year-old tycoon to four years in prison for misappropriating some 160 billion won ($150 million) in company assets to offshore slush funds and dodging taxes in the process.

The court, however, did not immediately lock up Lee, the country's 10th richest man, saying that he is not a flight risk.

After serving about a month in prison, the chairman was released from jail in August of last year after the court accepted his request to temporarily suspend his sentence.

The chairman, who underwent an organ transplant, claims that he suffers from multiple illnesses such as Charcot-Marie-Tooth disease, high blood pressure and high cholesterol in addition to a kidney disease.

The Charcot-Marie-Tooth disease is an inherited neurological disease characterized by a slowly progressive degeneration of muscles in the feet, lower legs and hands. (Yonhap)