May 18, 1997 |
President Kim Young Sam's son was arrested on bribery and tax evasion charges Saturday, humiliating his father, who had made fighting corruption a theme of his presidency. Kim was quick to apologize for his son's alleged wrongdoing and urged the nation to put the scandal behind it so as to focus on other national problems, such as an economic slump and relations with rival North Korea. But this is an election year, and opposition parties vowed to uncover more corruption in the government.
February 19, 1997 |
South Korean prosecutors today announced the indictment of 10 people--but no high-ranking political figures--in a bribery investigation that has been widely denounced here as a whitewash. President Kim Young Sam's son Kim Hyon Chol, a major target of allegations, was not expected to be questioned as a suspect in connection with the investigation of the Hanbo Group. The conglomerate, Korea's 14th largest, received more than $5.
December 2, 1996 |
South Korean President Kim Young Sam has given up golf and limited his lunches to noodles and other humble fare. He has disavowed political donations from business in a personal example that South Koreans should live clean and simple lives. Since his 1993 inauguration, Kim has pushed through a host of clean-government laws and targeted more than 1,100 officials--including two former presidents--in the biggest, broadest attack on corruption ever attempted here.
June 5, 1996 |
Prosecutors investigating a bribery scandal arrested the Ministry of Finance and Economy's director general, Han Taek Soo, two days after the arrest of the chief stock market watchdog, Paik Won Ku, on suspicion of taking $140,000 in bribes. Prosecutors accused Han, 46, who headed treasury operations at the ministry, of accepting a bribe of $64,100 from Korea Data Systems Co. in return for helping the company list on the Seoul stock exchange.
December 6, 1995 |
The Korean chaebol , or conglomerates, are so huge that the 30 biggest ones produce total sales equivalent to three-quarters of South Korea's gross national product. The business groups are so clannish that the founders or their families hold more than three-quarters of all chaebol positions of managing director and above.
December 6, 1995 |
Major South Korean conglomerates hit by indictments of their chairmen, who are suspected of bribing former President Roh Tae Woo, quickly vowed Tuesday to change their domestic business practices. But prosecutors made it clear they will do nothing to impede the rapid expansion of South Korea's industrial empires overseas, where their growth has become increasingly important to the domestic economy.