by Jiyeun Lee (Bloomberg) Extravagant dinners with whiskey and wine, golfing weekends, pricey beef and seafood gift sets. South Korean companies are trying to figure out how to do without these common forms of business hospitality before the nation’s toughest-ever anti-graft law takes effect next month. Conglomerates LG Group and SK Holdings are among those preparing … [Read more...]
South Korea Finalizes Sewol Salvage Contract
The government of South Korea has finalized a deal with a China-led consortium for the salvage of the sunken Sewol ferry off Jindo island. South Korea's Ministry of Oceans and Fisheries announced the contract signing on Tuesday with Shanghai Salvage together with South Korea-based Ocean C&I. The Shanghai Salvage consortium beat out six others competing for the … [Read more...]
Angry and Divided, South Korea Mourns On Anniversary of Sewol Ferry Disaster
By Ju-min Park and Sohee Kim ANSAN, South Korea, April 16 (Reuters) - A day of mourning for the 304 victims of the Sewol ferry sinking was overtaken by acrimony on Thursday, as organizers called off a ceremony planned to mark its one-year anniversary to protest against the South Korean government's response to the disaster. The main group representing bereaved families … [Read more...]
South Korean President Promises to Raise Sunken Sewol Ferry
On the one year anniversary of the Sewol ferry tragedy, South Korean President Park Guen-hye has vowed to raise the sunken ferry as soon as possible. Speaking before a crowd at the port of Jindo, President Park Guen-hye said she will takes steps to expedite plans to salvage the ship, the clearest indication yet that the ferry will in fact be raised. "There was a recent … [Read more...]
South Korea Response to Ferry Disaster Has Been a Tragedy – View
(Bloomberg View) -- On April 16, 2014, more than 300 people died when a passenger ferry carrying mostly high-school students sank off the coast of South Korea. Sadly, inexcusably, the country has done too little in the year since to prevent another such tragedy. That’s not to say President Park Geun Hye’s government hasn’t tried to improve the nation's safety culture. While … [Read more...]