By Emerging Money:
By Sean Geary
As a result of outperformance from the country's conglomerates, the South Korean economy (EWY) has performed strongly in spite of turmoil in global financial markets. As the country's presidential election nears, the increased focus on struggling small businesses could be bullish for the long-term prospects of the South Korean economy.
BUSAN, South Korea (Reuters) - In a cram school in the South Korean port city of Busan, 70 college students packed into a classroom, chanting "We can do it!" as they studied for an exam they hope will guarantee them a job for life with Samsung Group.
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What are Chaebols?
SEOUL, South Korea (AP) — When South Korean Chung Yu-suk read an article about retailer Lotte's chocolate ads featuring a Japanese figure skating star, he was so angered he started an online group urging Koreans to boycott their country's top retailer.
Scott Olson/Getty ImagesSamsung's leader Jay Y. Lee was grilled by South Korean prosecutors in a marathon 22-hour-plus session over his connection to a huge influence-peddling scandal that could topple South Korean President Park Geun-hye.
Lee did not sleep during the questioning — and neither did the two prosecutors questioning him, according to Reuters — finally leaving early on Friday morning.
SEOUL, South Korea — A South Korean court on Friday suspended the prison term of a former Korean Air executive whose onboard “nut rage” tantrum delayed a flight last year, immediately ending her incarceration.
The Seoul High Court said Cho Hyun-ah, who is the daughter of the airline’s chairman, did not violate the aviation security law when she ordered the chief flight attendant off a Dec. 5 flight, forcing it to return to the gate at John F. Kennedy Airport in New York.
SEOUL — The Korean Air Lines executive who delayed a flight in an incident dubbed “nut rage” bowed deep in apology Friday before facing questioning by transport officials. Her father, the airline’s chairman, also apologized and said he regrets he did not raise her better.
The apologies came in response to simmering public anger about the incident and the airline’s handling of it.