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Court clears Hyundai executive of lobbying for Lone Star's KEB takeover
SEOUL, Nov. 27 (Yonhap) -- A district court cleared a Hyundai Group executive on Thursday of charges that he lobbied a government official for the 2003 sale of Korea Exchange Bank (KEB) to U.S. equity firm Lone Star Funds.
The not-guilty verdict for Ha Jong-sun, president of Hyundai Group Strategic Planning and Development Office, was the latest court decision that upheld Lone Star as the bank's legitimate owner after years of legal disputes.
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