The prosecution on Monday sought to add two years to the prison term of the convicted chairman of SK Group in an appeals trial, accusing him of "deriding" the justice system.
Chey Tae-won, 53, is currently serving a four-year prison term from January for embezzling company money to make personal investments in stock futures and options in 2008, but the prosecution is requesting a six-year term.
Chey, who inherited the country's third-largest conglomerate from his father, allegedly misappropriated 49.7 billion won (US$44.7 million) with the help of his younger brother, a senior vice chairman of the business group.
The prosecution had come under fire when it sought a four-year prison term against the tycoon at a lower court trial, the most lenient sentencing recommended by the Supreme Court for that type of crime.
The prosecution argued that Chey, despite his repeated change of testimony, was in on the crime as the leader and final decision maker. It said Chey tried to cover up his crime, behaving in a way that mocked and derided the justice system.
The prosecution asked for a five-year sentence for his younger brother, Chey Jae-won, the same term as requested in the lower court trial. The younger Chey was acquitted by the lower court for lack of evidence that he participated in the crime.
"I have to take responsibility for ordering wrong investments," the chairman told the court. But he again denied he was directly involved in embezzling company money.
