South Korean prosecutors have sought a sentence of 15 years in prison for Kim Woo-choong, the founder and former chairman of collapsed conglomerate Daewoo, for alleged accounting fraud and embezzlement.
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According to The Associated Press (AP), prosecutors also requested the Seoul Central District Court to order the 69-year-old Kim to forfeit 23.4 trillion won ($US25bn).
The report said Kim was indicted on charges of multi-trillion won accounting fraud, illegal financing, and diverting funds out of the country and is also accused of embezzlement and breach of trust.
The court is expected to deliver a ruling at the end of the month, AP noted.
Daewoo was one of the largest conglomerates in South Korea until it collapsed under massive debts in the wake of the 1997-98 Asian financial crisis.
Most of its car-making operations were subsequently acquired by General Motors and most vehicles made are now sold under the Chevrolet brand outside Korea.
Kim fled the country in 1999, living mostly in France until returning to South Korea last June to face charges, The Associated Press added.
