Hyundai Motor's controlling family yesterday pledged to donate US$1bn of its own money to South Korean charities, as it apparently tries to stem a widening bribery scandal that has cast a shadow over its business plans.

As South Korea's largest automaker publicly repented for the controversy surrounding allegations that it used slush funds to seek business favours from the government, Lone Star, the US private equity fund that owns half of Korea Exchange Bank (KEB), followed suit.