The chief executive of South Korean automaker KG Mobility Corp., formerly known as Ssangyong Motor, has offered to resign over embezzlement allegations, an industry source said Thursday. According to the source, CEO Jeong Yong-won tendered his resignation after police conducted a search and seizure on the company's headquarters in Pyeongtaek, south of Seoul, on Tuesday in connection with four company individuals, including Jeong, under suspicion. Jeong has expressed his intention to oversee ongoing internal projects, such as new vehicle model developments, to their end until leaving the company. A KG Mobility official said Jeong's position will be determined after the police investigation is concluded. Source: Yonhap News Agency
Myanmar Clears Path for Junta Leader to Become President
March 30, 2026