The Unification Ministry has reiterated that a former Hyundai Asan Corporation executive did not embezzle state money intended for inter-Korean economic cooperation.

Vice Unification Minister Rhee Bong-jo on Thursday said public funds for inter-Korean business cooperation were sent on December 31st last year to Hyundai Asan after Kim Yoon-kyu was charged with embezzlement.

Kim denied the charge but the Hyundai Group fired him.

In announcing the results of a ministry review on the group's internal audit report, Rhee also hit the conglomerate for leaking the incorrect report to the media that led to the false notion that state funds were embezzled.