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World IN BRIEF : SOUTH KOREA

President Gives Up Post as Head of Party

September 25, 1997|From Times Wire Reports

President Kim Young Sam resigned as head of the ruling New Korea Party, giving the party's presidential candidate a chance to serve in the post before elections. Kim said he wants Lee Hoi Chang to have more authority over the badly divided party before the presidential election in December. Lee is expected to take over during a party congress next week. Meanwhile, an appeals court in Seoul upheld a 15-year prison sentence for Chung Tae Soo, the owner of the bankrupt Hanbo conglomerate who was convicted of embezzlement and bribery. The court reduced sentences for three others.

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