South Korean court overturns Hanwha chief's 3-year jail term

SEOUL (REUTERS) - South Korea's supreme court overturned a three-year jail sentence against Hanwha Group chairman Kim Seung Youn for breach of trust and other charges on Thursday, sending the case back to a lower court.

The business tycoon had been convicted of using Hanwha affiliates to "unfairly support" companies he owned under assumed names, causing losses to South Korea's 10th biggest conglomerate.

In April, a Seoul appellate court reduced his sentence to three years from the four years imposed in August last year.

Kim was taken to prison after the first ruling last year but the sentence was suspended temporarily earlier this year because he was in poor health.