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| Author: | Clifford, M. Lim, J. |
| Title: | Meltdown in Seoul |
| Journal: | Business Week
1997 : FEB 10, VOL. 3497:827, p. 20-21 |
| Index terms: | ECONOMICS KOREA FINANCE |
| Language: | eng |
| Abstract: | Hanbo's fall shakes the system. It was a scene that has become all too familiar in President Kim Young Sam's South Korea. Prosecutors trooped out of company headquarters in Seoul, carting box after box of documents, all part of the search for evidence of corruption. Grim-faced employees looked on, wondering what they would do next. Hanbo , a steel and construction conglomerate, had gone bankrupt. This time it was the largest corporate collapse in South Korean history. Korea has had scandal before, but no bankruptcy has exposed the weakness of the system with greater clarity. |
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