Caught by the system: legal ambiguities trap ruling party MP

Article Abstract:

Lee Tae Sup graduated from Seoul National University with sterling credentials in chemical engineering adequate enough to propel him to prominence in a business career. At 38 years old, Lee had already risen through the ranks to become president of Daewoo Engineering Co. However, his diversion into a political career has left Lee a battered member of parliament convicted on bribery charges. Lee's situation reflects the political status quo of South Korea where members of parliament have been trapped by the ambiguity between political donations and bribes.

Cases, Campaign funds, Ethical aspects, Political corruption, Bribery, Lee Tae Sup

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Pick one: snubbing Pyongyang, Cambodia warms to Seoul

Article Abstract:

Cambodia's Korean affections are swinging from Pyongyang to Seoul in the wake of the April arrest in Phnom Penh of a Japanese terrorist long sheltered by North Korea. Cambodian King Norodom Sihanouk's close ties to N Korea have long prevented a closer relationship with S Korea, but events may now be passing him by. Agreements signed in July 1996 portend the training in Seoul of Cambodia's new bureaucrats, and could lead to increased trade and foreign investment, perhaps including major power projects like those in Laos.

North Korea, North Korean foreign relations, South Korean foreign relations, Cambodia, Cambodian foreign relations

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Steel yourself: Halla group stakes its future on industrial complex

Article Abstract:

Chung In Yung's heavily indebted Halla group seems incapable of turning a profit but lenders say it could do well if it sold its Inchon shipyard and the heavy-industry portion of Halla Engineering. Unfortunately, Chung remains wedded to his concept of a heavy-industries group capable of building nearly anything. The group's total debt-equitry ratio is 15:1, and it paid 201 billion won in interest in 1993. Debt is worse now, and the group lost 120 billion won on sales of 3 trillion in 1994.

Management, Conglomerate corporations, Chung In Yung, Halla Engineering and Heavy Industries Company Ltd.

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