Dirty Games
Article Abstract:
Some observers are expressing reservations about the financial arrangements involved in holding the Feb 1998 Winter Olympic Games in Nagano, Japan. There have been claims that the bidding process was not undertaken fairly, and it has also been alleged that the administration of the event has been excessively controlled by influential businessmen, elected officials and bureaucrats. Many Olympic projects have gone far beyond their original budget, and those who have expressed concern have received threats.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1998
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Going for broke: Korea steels itself against failure
Article Abstract:
It is common for bankrupt companies in South Korea to continue to operate because they gain exemption from interest and principal repayments. This means that they have an unfair advantage over efficient companies. Owners of South Korean companies are very unwilling to declare bankruptcy, as this makes them vulnerable to criminal liability. Allowing a bankrupt company to continue operating means that capital is tied up in unproductive uses.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1998
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