SEOUL, Mar. 14 (Korea Bizwire) — Former President Lee Myung-bak stood before a barrage of camera flashes Wednesday as he appeared at a prosecutors’ office for corruption questioning, adding a humiliating last chapter to his otherwise successful career as a business CEO, lawmaker, mayor and president. Lee first became publicly known when he served as [...]
SEOUL, March 6 (Korea Bizwire) – Former President Lee Myung-bak has been asked to appear for questioning next week over a string of suspicions of bribery and other irregularities, officials said Tuesday. The Seoul Central District Prosecutors’ Office subpoenaed Lee to come to the office for questioning as a suspect at 9:30 a.m. on March 14, officials said. “It is essential to investigate Lee in order to uncover [...]
SEOUL, Jan. 31 (Korea Bizwire) – The presidential office Cheong Wa Dae formally invited former President Lee Myung-bak Wednesday to PyeongChang Olympic ceremonies that will include an opening reception for visiting heads of state. The invitation was delivered in person by Han Byung-do, senior secretary for political affairs to President Moon Jae-in. Cheong Wa Dae earlier said the invitation to the opening and closing ceremonies of the Feb. 9-25 PyeongChang Winter Olympic Games was [...]
SEOUL, Jun. 12 (Korea Bizwire) — South Korea’s state audit agency is expected to soon announce the launch of its probe into a controversial project ordered by a former president to refurbish the country’s four main rivers, sources said Sunday. The move comes as President Moon Jae-in on May 22 ordered a “policy inspection” on [...]
SEOUL, Jun. 30 (Korea Bizwire) — The recent drought in Korea, still not mitigated by rain on June 25 and 26, is so severe that it is triggering the development of serious algal bloom in the Han River and rivers in Daegu and Gangwondo, causing stranding masses of fish in Goyang. Fishermen around the Han [...]
SEOUL, June 25 (Korea Bizwire) – When former President Lee Myung-bak tried to persuade Koreans about the benefits of his Four Major Rivers Restoration Project, he spoke of the practical usage of the water resources in the rivers. To avoid widespread suspicion that the project would be a canal linking the Han River and Nakdong River, he [...]
SEOUL, May 6 (Korea Bizwire) – The official English title of Korea’s finance ministry is theMinistry of Strategy and Finance. It used the term “strategy” to stress its role in planning future strategy for Korea’s economy. However, it is not easy for non-Koreans to fully grasp its role based solely on the title. During the [...]
SEOUL, April 3 (Korea Bizwire) — Three South Korean state-run energy companies have suffered billions of dollars in losses from overseas resources development projects since 2003, the state audit agency said Friday. The outcome by the Board of Audit and Inspection of Korea (BAI) comes as prosecutors are probing several local firms for alleged embezzlement [...]
SEOUL, Dec. 9 (Korea Bizwire) – A recent job posting on a recruiting site that excluded job seekers from a certain region is causing controversy. On December 3, the recruiting site posted a job offer from Namyang Industry, a top-tier partner company of Hyundai-Kia Motor Group, seeking male applicants for work in auto parts factories. [...]
SEOUL, July 31 (Korea Bizwire) – The biomimetic “robot fish” developed during the previous Lee Myung-bak Administration designed to monitor water quality in the nation’s major river systems proved to be malfunctioning or incapable of carrying out the functions as they were supposed to perform. Korea’s Board of Audit & Inspection said on July 30 that its investigations [...]