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Hanbo Scandal
The Hanbo scandal (also known as Hanbogate) refers to the late-1990s corruption involving senior South Korean government officials and top executives of the Hanbo Steel (한보그룹) conglomerate, then South Korea’s second biggest steelmaker and 14th biggest conglomerate based on the book value of their assets. The resulting scandal and trial of the first half of 1997 has been described as one of the largest ever scandals in South Korea. History Hanbo Steel received illegal preferential treatment from the government of Korean president Kim Young-sam, primarily through loans issued by banks under pressure from bribed high ranking politicians and bankers. Losses from corruption and bribes are estimated at US$6 billion. Following a trial, by early June 1997 the company's founder, , was sentenced to be jailed 15 years. His son, Chung Bo Keun, was jailed for three years. Eight other prominent figures, including former Home Minister Kim Woo Suk, several presidential aides and parlia ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hanbo Steel , a Swedish dance
{{disambig, given name ...
Hanbo may refer to: * Hanbo Steel, a South Korean company most prominent for the 1997 Hanbo scandal (Hanbogate) * Hanbo Securities, original name of South Korean company NH Investment & Securities * Hanbō (), a staff used in martial arts * Hanbō (), a kind of ''men-yoroi'' (Japanese facial armour) People with the name Hanbo include: *Wang Xihou (1713–1777), courtesy name Hanbo, Chinese scholar executed by the Qing Dynasty * Li Hanbo (born 1991), Chinese football midfielder See also *Hambo The hambo is a traditional dance that originated in Sweden in the late 19th and early 20th centuries. It is a couple dance in time, danced to music played with a strong accent on the first beat and a tempo that varies from moderate to fast (100 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kim Young-sam
Kim Young-sam (; or ; 20 December 1927 – 22 November 2015) was a Demographics of South Korea, South Korean politician and activist who served as the seventh president of South Korea from 1993 to 1998. From 1961, he spent almost 30 years as one of the leaders of the South Korean opposition, and one of the most powerful rivals to the authoritarian regimes of Park Chung-hee and Chun Doo-hwan. Elected as president in 1992, Kim became the first civilian to hold the office in over 30 years. He was inaugurated on 25 February 1993, and served a single five-year term, presiding over a massive anti-corruption campaign, the arrest of his two predecessors, and an internationalization policy called ''Segyehwa''. At the final years of his presidency, Kim had been widely blamed for the collapse of the Seongsu Bridge and the Sampoong Department Store and the downturn and recession of the South Korean economy during the 1997 Asian financial crisis, which forced South Korea to accept te ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kim Woo Suk
Kim or KIM may refer to: Names * Kim (given name) * Kim (surname) ** Kim (Korean surname) *** Kim family (other), several dynasties **** Kim family (North Korea), the rulers of North Korea since Kim Il-sung in 1948 ** Kim, Vietnamese form of Jin (Chinese surname) Languages * Kim language, a language of Chad * Kim language (Sierra Leone), a language of Sierra Leone * kim, the ISO 639 code of the Tofa language of Russia Media * ''Kim'' (album), a 2009 album by Kim Fransson * "Kim" (song), 2000 song by Eminem * "Kim", a song by Tkay Maidza, 2021 * ''Kim'' (novel), by Rudyard Kipling ** ''Kim'' (1950 film), an American adventure film based on the novel ** ''Kim'' (1984 film), a British film based on the novel * "Kim" (''M*A*S*H''), a 1973 episode of the American television show ''M*A*S*H'' * ''Kim'' (magazine), defunct Turkish women's magazine (1992–1999) Organizations * Kenya Independence Movement, a defunct political party in Kenya * Khalifa Islamiyah Mindana ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Korea First Bank
Standard Chartered Korea (officially Standard Chartered Bank Korea Limited, formerly SC First Bank, Hangul: SC제일은행) is a banking and financial services company headquartered in Seoul, South Korea and a wholly owned subsidiary of Standard Chartered. It was created by the acquisition of the former Korea First Bank by Standard Chartered in 2005. History The bank started as Joseon Deposit Bank () in 1929. In may of 1950, it changed its name to Korea Deposit Bank (). In 1954, it made an acquisition of branches of the Korean Bank for Nurturing Industries (; a predecessor to Korea Development Bank). The bank was nationalized in 1961 by the military government. It became one of the 5 largest commercial banks in South Korea but it fell into financial trouble during the 1997 Asian financial crisis. It was acquired by Standard Chartered in 2005.https://encykorea.aks.ac.kr/Contents/CategoryNavi?category=field&keyword=%EA%B2%BD%EC%A0%9C%C2%B7%EC%82%B0%EC%97%85/%EA%B2%BD%EC%A0%9C&ridx ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1997 Asian Financial Crisis
The Asian financial crisis was a period of financial crisis that gripped much of East Asia and Southeast Asia beginning in July 1997 and raised fears of a worldwide economic meltdown due to financial contagion. However, the recovery in 1998–1999 was rapid and worries of a meltdown subsided. The crisis started in Thailand (known in Thailand as the ''Tom Yam Kung crisis''; th, วิกฤตต้มยำกุ้ง) on 2 July, with the financial collapse of the Thai baht after the Thai government was forced to float the baht due to lack of foreign currency to support its currency peg to the U.S. dollar. Capital flight ensued almost immediately, beginning an international chain reaction. At the time, Thailand had acquired a burden of foreign debt. As the crisis spread, most of Southeast Asia and later South Korea and Japan saw slumping currencies, devalued stock markets and other asset prices, and a precipitous rise in private debt. South Korea, Indonesia and Thailand were ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kia Motors
Kia Corporation, commonly known as Kia (, ; formerly known as Kyungsung Precision Industry and Kia Motors Corporation), is a South Korean multinational automobile manufacturer headquartered in Seoul, South Korea. It is South Korea's second largest automobile manufacturer, after its parent company, Hyundai Motor Company, with sales of over 2.8 million vehicles in 2019. the Kia Corporation is minority owned by Hyundai, which holds a 33.88% stake valued at just over US$6 billion. Kia in turn is a minority owner of more than twenty Hyundai subsidiaries ranging from 4.9% up to 45.37%, totaling more than US$8.3 billion. Etymology According to the company, the name "Kia" derives from the Sino-Korean characters (, 'to arise') and (, which stands for 亞細亞, meaning 'Asia'); it is roughly translated as "Rising from (East) Asia." History Origins and early expansion Kia was founded on June 9, 1944, as Kyungsung Precision Industry, a manufacturer of steel tubi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Daewoo
Daewoo ( ; Hangul: , Hanja: , ; literally "great universe" and a portmanteau of "dae" meaning great, and the given name of founder and chairman Kim Woo-choong) also known as the Daewoo Group, was a major South Korean chaebol (type of conglomerate) and automobile manufacturer. It was founded on 22 March 1967 as Daewoo Industrial and was declared bankrupt on 1 November 1999, with debts of about US$50 billion (equivalent to $ billion in ). Prior to the 1997 Asian financial crisis, Daewoo was the second largest conglomerate in South Korea after the Hyundai Group. There were about 20 divisions under the Daewoo Group, some of which survived as independent companies. History Beginning and development The Daewoo Group was founded by Kim Woo-choong in March 1967. He was the son of the Provincial Governor of Daegu. He graduated from the Kyonggi High School, then finished with an Economics Degree at Yonsei University in Seoul. During the 1960s, after the end of the Syngman Rhee g ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Daewoo Dissolution And Corruption Scandal
The Daewoo dissolution and corruption scandal was a 1999-2006 scandal in South Korea involving the bankruptcy of Daewoo, then-country's second largest company, and a subsequent corruption investigation, involving arrests, escapes and eventual conviction of dozens of company's top executives. The resulting scandal has been described as one of the biggest scandals in South Korea. Background Daewoo was a major South Korean conglomerate. Prior to the Asian financial crisis, Daewoo was the second largest conglomerate in Korea. By 1999, Daewoo went bankrupt, with debts of about US$50-80 billion. Corruption scandal Soon after the demise, South Korean prosecutors filed charges against over 40 top executives, in what BBC described as the Daewoo corruption scandal. This was related to the discovery that company's auditors concealed the amount of debt, and that bribes of about 470 billion won were involved (close to US$400 million). Loss from bribery and corruption has been estimated to over ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1997 Crimes In South Korea
File:1997 Events Collage.png, From left, clockwise: The movie set of ''Titanic'', the highest-grossing movie in history at the time; ''Harry Potter and the Philosopher's Stone'', is published; Comet Hale-Bopp passes by Earth and becomes one of the most observed comets of the 20th century; Golden Bauhinia Square, where sovereignty of Hong Kong is handed over from the United Kingdom to the People's Republic of China; the 1997 Central European flood kills 114 people in the Czech Republic, Poland, and Germany; Korean Air Flight 801 crashes during heavy rain on Guam, killing 229; Mars Pathfinder and Sojourner land on Mars; flowers left outside Kensington Palace following the death of Diana, Princess of Wales, in a car crash in Paris., 300x300px, thumb rect 0 0 200 200 Titanic (1997 film) rect 200 0 400 200 Harry Potter rect 400 0 600 200 Comet Hale-Bopp rect 0 200 300 400 Death of Diana, Princess of Wales rect 300 200 600 400 Handover of Hong Kong rect 0 400 200 600 Mars Pathfind ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Political Scandals In South Korea
This article provides a list of political scandals that involve officials from the government or politicians of South Korea. Koreagate (1976) Koreagate is the name of a political bribery scandal revealed in 1976. It involves the Central Intelligence Agency South Korea (KCIA), Korean political figures and several U. S. congressmen. In 1971, U. S. President Richard Nixon announced his intention to withdraw U. S. troops from South Korea. The President of the Republic of Korea, Park Chung-hee, disagreed with Nixon's decision to withdraw soldiers from South Korea and felt that it was urgent to obtain support to preserve the remaining military presence of the United States. In 1976, KCIA spent millions of dollars to finance a project called Intrepid. The purpose of this program was to bring both President Nixon back on his decision and to ease the growing tensions between the two countries. KCIA bribed some U. S. congressmen through Korean businessman Tongsun Park to seek favors and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Corruption In South Korea
Corruption in South Korea is moderate compared to most countries in the Asia-Pacific and the broader international community. Transparency International's 2021 Corruption Perceptions Index scored South Korea at 54 on a scale between 0 (very corrupt) and 100 (least corrupt). When the 180 countries in the Index are ranked by score, South Korea is the 32nd least corrupt country, following the Bahamas, Qatar and Portugal. Notable cases President Park Geun-hye was found guilty in 16 charges, including abuse of power and bribery, then she was imprisoned for 25 years. Another former president Lee Myung-bak was also charged with corruption scandals involving major companies in 2018 and he was sentenced 17 years in jail. As a result of such scandals, coupled with other incidents, such as the Sewol disaster, a 2015 report released by the Organization for Economic Cooperation and Development (OECD) showed that " lmost 70 percent of South Koreans distrust their government, while less ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chaebol
A chaebol (, ; ) is a large industrial South Korean conglomerate run and controlled by an individual or family. A chaebol often consists of multiple diversified affiliates, controlled by a person or group whose power over the group often exceeds legal authority. Several dozen large South Korean family-controlled corporate groups fall under this definition. The term first appeared in English text in 1972. Chaebols have also played a significant role in South Korean politics. In 1988, a member of a chaebol family, Chung Mong-joon, president of Hyundai Heavy Industries, successfully ran for the National Assembly of South Korea. Other business leaders were also chosen to be members of the National Assembly through proportional representation. Hyundai has made efforts in the thawing of North Korean relations, despite some controversy. Many South Korean family-run chaebols have been criticized for low dividend payouts and other governance practices that favor controlling shareho ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
