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WORLD
October 16, 2003 | From Times Wire Reports
A former aide to President Roh Moo Hyun was arrested on charges of receiving bribes from one of South Korea's largest conglomerates. Choi Do Sool is accused of taking $956,000 in bribes from SK Group, South Korea's third-largest conglomerate, shortly after Roh won election in December. The arrest came days after Roh announced plans to hold a national referendum to gauge public trust in his presidency.
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WORLD
October 16, 2003 | From Times Wire Reports
A former aide to President Roh Moo Hyun was arrested on charges of receiving bribes from one of South Korea's largest conglomerates. Choi Do Sool is accused of taking $956,000 in bribes from SK Group, South Korea's third-largest conglomerate, shortly after Roh won election in December. The arrest came days after Roh announced plans to hold a national referendum to gauge public trust in his presidency.
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BUSINESS
February 16, 1999 | From Bloomberg News
A unit of the SK Group, one of South Korea's biggest conglomerates, won a $1.2-billion contract with Siemens of Germany and Mexico's Grupo Tribasa to expand a Mexican oil refinery to meet rising demand. The three companies will build 10 plants and improve another five that will enable the state-owned Madero refinery to process an extra 112,000 barrels a day of Mexico's heavy Maya crude, a sulfur-laden oil that's hard to sell on international markets. The contract is part of an estimated $5.
BUSINESS
October 1, 1999 | From Bloomberg News
J.P. Morgan & Co., the fourth-largest U.S. bank, agreed Thursday to acquire a 10% stake in SK Securities Co., settling a $380-million lawsuit and ending more than a year of legal wrangling with several Korean financial institutions over derivatives losses, SK said. J.P. Morgan will invest $85 million in SK Securities by subscribing to the Seoul-based company's imminent $250-million share sale, which is partly aimed at raising money to pay J.P. Morgan an unspecified settlement fee.
BUSINESS
October 1, 1999 | From Bloomberg News
J.P. Morgan & Co., the fourth-largest U.S. bank, agreed Thursday to acquire a 10% stake in SK Securities Co., settling a $380-million lawsuit and ending more than a year of legal wrangling with several Korean financial institutions over derivatives losses, SK said. J.P. Morgan will invest $85 million in SK Securities by subscribing to the Seoul-based company's imminent $250-million share sale, which is partly aimed at raising money to pay J.P. Morgan an unspecified settlement fee.
BUSINESS
January 19, 1998 | EVELYN IRITANI, TIMES STAFF WRITER
Under pressure to trim back and reduce debt, the giant Samsung Group may give up its plan to build a 102-story office tower here but will continue a controversial automotive venture as well as its distribution, finance and semiconductor businesses, according to media reports Sunday and this morning. Executives from Samsung and four other giant chaebol, or conglomerates, are expected to deliver their blueprints for restructuring their enterprises to the government this week.
WORLD
January 10, 2004 | From Times Wire Reports
Prosecutors arrested the head of South Korea's third-largest conglomerate and six lawmakers in a widening corruption inquiry. The lawmakers face charges of collecting bribes from businesses or violating political finance laws. SK Group Chairman Son Kil-seung was arrested on charges of evading taxes and embezzling company funds. Son is also accused of giving the Grand National Party $8.3 million in illicit campaign funds and giving $956,000 to an aide to President Roh Moo Hyun.
WORLD
January 31, 2013 | By Emily Alpert
A South Korean executive was sentenced to four years in prison Thursday for embezzling more than $40 million from his conglomerate, the third-largest of the massive and powerful chaebols that have long dominated the South Korean economy. SK Group Chairman Chey Tae-won denied any wrongdoing and said he didn't know why he hadn't swayed the court. "I didn't do anything wrong. This is all I can say," the Yonhap news agency quoted Chey as saying. SK Group, in a statement cited by South Korean news reports, said it planned to appeal.
WORLD
March 27, 2010 | By John M. Glionna
When corporate ethics activist Kim Gun-ho heard that convicted tax evader Lee Kun-hee had returned as chairman of Samsung Electronics, he winced and thought: "Here we go again." And who could blame him? In recent years, executives at some of South Korea's top companies have been convicted of crimes such as accounting fraud, embezzlement and breach of duty. Their sentences reduced, many have returned to their jobs. Some never left them. "Most of the chairmen at the 10 biggest companies are convicts," said Kim, a senior official at the Citizens' Coalition for Economic Justice, which has lobbied for more accountability from South Korean companies.
BUSINESS
June 21, 1998 | EVELYN IRITANI, TIMES STAFF WRITER
In Min Kee's world, there is no time for self-pity or nationalist pride. He is prepared to offer Americans just about anything they want--at the right price. "We are here to sell," the manager from Korea Land Corp., a government real estate development agency, said during a recent stop in Los Angeles. "We can sell everything but our families."
BUSINESS
February 16, 1999 | From Bloomberg News
A unit of the SK Group, one of South Korea's biggest conglomerates, won a $1.2-billion contract with Siemens of Germany and Mexico's Grupo Tribasa to expand a Mexican oil refinery to meet rising demand. The three companies will build 10 plants and improve another five that will enable the state-owned Madero refinery to process an extra 112,000 barrels a day of Mexico's heavy Maya crude, a sulfur-laden oil that's hard to sell on international markets. The contract is part of an estimated $5.
BUSINESS
January 19, 1998 | EVELYN IRITANI, TIMES STAFF WRITER
Under pressure to trim back and reduce debt, the giant Samsung Group may give up its plan to build a 102-story office tower here but will continue a controversial automotive venture as well as its distribution, finance and semiconductor businesses, according to media reports Sunday and this morning. Executives from Samsung and four other giant chaebol, or conglomerates, are expected to deliver their blueprints for restructuring their enterprises to the government this week.
BUSINESS
May 29, 2005 | Don Lee, Times Staff Writer
After living in Seoul; Frankfurt, Germany; Los Angeles; and Beijing, Kim Hyun Soo decided to retire here, a port city in China's Shandong province that juts out toward Korea. The 69-year-old South Korean knew it would be economical. He pays about $75 a month for a full-time housekeeper, and a haircut costs 60 cents, shampoo included. What Kim never expected, though, was just how friendly locals would be toward Koreans.
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