Prosecutors on Tuesday sought a six-year prison term for food and entertainment conglomerate CJ Group chairman for alleged corporate crimes.
Lee Jay-hyun was indicted on charges of embezzling around 165.7 billion won (US$156 million) to create slush funds and evade taxes in the process.
Prosecutors also demanded that the chief of the country's 14th-largest conglomerate pay a fine of 110 billion won.
The 53-year-old tycoon is currently standing trial without being detained after a Seoul court extended the suspension of imprisonment, citing his poor health. Lee underwent a key transplant surgery.
A sentencing trial for Lee is scheduled to be held at the Seoul Central District Court in early February, court officials said.