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BUSINESS
December 11, 1989 | SAM JAMESON, TIMES STAFF WRITER
In the 1970s, textiles dominated South Korea's industry. In the 1980s, consumer electronics emerged. And if the government is correct in its predictions, high technology will dominate the 1990s, with South Korea making an international impact in at least five new fields. After a year of study, a commission set up by the Ministry of Trade and Industry completed a report that called for spending about $39.5 billion on high tech between 1990 and 1994. More than 40%, or $16.
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ENTERTAINMENT
January 9, 2011 | By John M. Glionna, Los Angeles Times
She was a young actress with designs on mega-stardom. But to realize her dreams, Jang Ja-yeon was resigned to take her place in the seamy realm of the South Korean sexual casting couch. In the end, the disgrace proved too much. In the seven-page note she wrote before her March 2009 suicide, the 27-year-old TV sitcom regular described how her manager forced her to have sex with industry VIPs such as directors, media executives and CEOs, many of whom she cited by name. Jang's death stunned this nation transfixed by celebrity and all its trappings.
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BUSINESS
April 8, 1991 | LESLIE HELM, TIMES STAFF WRITER
In the low, rolling hills here behind the city of Taejun, 100 miles north of Seoul, is a spacious research park marked by wide, empty roads winding past soccer fields, parks and an occasional fenced-in government compound. After the bustle of Seoul, it feels almost deserted. It nearly was. Taedok Science City was planned 18 years ago on the model of Silicon Valley to be a "cradle" of research, bringing together the best Korean minds from academic, government and private research institutes.
BUSINESS
August 18, 2001 | MARK MAGNIER, TIMES STAFF WRITER
Unix Electronics Co. Managing Director J.W. Seo said he was heading home from work listening to some music in light traffic a few weeks ago when his cell phone rang with the bad news. "You need to cut your price by 30%," a major British importer told him. "Customers over here just aren't in a buying mood, and we're getting hammered by low-cost Chinese competitors." Seo felt trapped. Cutting the price of his electric foot massagers by 30% was not an option because he has only a 10% profit margin.
BUSINESS
June 12, 1995 | From Associated Press
Samsung, Hyundai and other conglomerates have wheeled and dealed for decades, gobbling up businesses, making fortunes and fueling South Korea's rapid rise in industrialization. But President Kim Young Sam, worried that they are becoming too powerful and could hurt the economy by smothering smaller competitors, is trying to tame the tigers.
BUSINESS
January 27, 1992 | From Times Staff and Wire Reports
Joint North-South Ventures Set: South and North Korea have agreed to pursue joint manufacturing projects as a follow-up to their recent reconciliation agreement, a business leader said. Kim Woo-choong, chairman of South Korea's Daewoo business group, said North Korea's leaders agreed to set up joint ventures to produce textiles, toys and other consumer goods. He said Pyongyang also wanted to form ventures to manufacture electronic goods and develop mineral resources.
BUSINESS
March 22, 1993 | SAM JAMESON, TIMES STAFF WRITER
In December, Hyundai tycoon Chung Ju Yung called Kim Young Sam, his government party rival for the presidency of South Korea, "a birdbrained leader of crooks." After finishing a distant third in last month's election with only 16% of the votes, Chung, 77, declared that it would have been a disaster for South Korea if he had won. He apologized for deriding Kim and praised the new president as a politician with a 40-year record of honesty. The about-face, insiders say, was not voluntary.
BUSINESS
December 6, 1995 | TERESA WATANABE, TIMES STAFF WRITER
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.
BUSINESS
December 6, 1995 | DAVID HOLLEY, TIMES STAFF WRITER
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.
NEWS
November 4, 1995 | SAM JAMESON, TIMES STAFF WRITER
Confessing that they regularly made under-the-table payments to a series of presidents in the past, South Korea's largest conglomerates apologized Friday and pledged to never again provide illicit political funds. They also declared that President Kim Young Sam, who is known as a reformer, has halted the practice of businessmen contributing to slush funds that "became a custom . . .
BUSINESS
June 12, 1995 | From Associated Press
Samsung, Hyundai and other conglomerates have wheeled and dealed for decades, gobbling up businesses, making fortunes and fueling South Korea's rapid rise in industrialization. But President Kim Young Sam, worried that they are becoming too powerful and could hurt the economy by smothering smaller competitors, is trying to tame the tigers.
BUSINESS
March 16, 1995
The Republic of Korea has shown impressive economic growth over the past 25 years, largely because of a sustained program of export-oriented policies. One of the world's poorest countries only a generation ago, South Korea is now the United States' seventh-largest trading partner and the world's 12th-largest economy.
BUSINESS
August 1, 1994 | From Associated Press
Right now, they're mere skeletons of buildings. But when the factories they will house start operating early next year, South Korea's electronics manufacturers say they will have cracked another industry dominated by Japan: flat-panel computer screens. "A great future lies ahead for Korean manufacturers in this field," said Park Yong-bok of the Ministry of Trade, Industry and Energy. "This is certainly the biggest market available for us since the semiconductor boom."
NEWS
November 4, 1995 | SAM JAMESON, TIMES STAFF WRITER
Confessing that they regularly made under-the-table payments to a series of presidents in the past, South Korea's largest conglomerates apologized Friday and pledged to never again provide illicit political funds. They also declared that President Kim Young Sam, who is known as a reformer, has halted the practice of businessmen contributing to slush funds that "became a custom . . .
BUSINESS
June 15, 1994 | JAMES FLANIGAN
If North Korea is threatening to invade and annihilate South Korea, why are Hyundai, Daewoo, Samsung and hundreds of other Korean companies expanding their businesses with renewed confidence? Because they don't believe North Korean dictator Kim Il Sung's mammoth army is going to invade the South. Rightly or not, the South Koreans see Kim's nuclear ploy as a bid for recognition from the United States.
BUSINESS
March 22, 1993 | SAM JAMESON, TIMES STAFF WRITER
In December, Hyundai tycoon Chung Ju Yung called Kim Young Sam, his government party rival for the presidency of South Korea, "a birdbrained leader of crooks." After finishing a distant third in last month's election with only 16% of the votes, Chung, 77, declared that it would have been a disaster for South Korea if he had won. He apologized for deriding Kim and praised the new president as a politician with a 40-year record of honesty. The about-face, insiders say, was not voluntary.
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