Abstracts » Business, international

Ten indicted in Hanbo case

Article Abstract:

Hanbo Steel Industry Co.'s demise has resulted in the filing of charges against 10 businessmen, bankers and politicians in South Korea. The Hanbo Steel fiasco, which was dubbed "Hanbogate" by the press, reflects the deep-rooted corruption that is prevalent in politics, business and banks in the country. Charged in connection with the scam include Shin Kwang Shik of Korea First Bank, Woo Chan Mok of Cho Hung Bank and former Korea First Bank President Lee Chul Soo. Also indicted were legislators Hong In Kil, Chung Jae Chul, Kwon Ro Gap and Hwang Byung Tae, former cabinet minister Kim Woo Suk, and Hanbo founder Chung Tae Soo.

Primary Iron & Steel, Iron and Steel Mills and Ferroalloy Manufacturing, Blast Furnace and Basic Steel Products, Finance, Steel industry, Hanbo Steel Industry Co.

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As Asia's sprinters slow, economists take it in stride

Article Abstract:

Economists anticipate that the economic growth rate of Asia's industrial leaders, Singapore, Hong Kong, Taiwan and South Korea, will decline by 4-5% in the mid-1990s. Although such forecasts have caused concern in Asia, the economists stress that the downturn is based on sound economic realities. They attribute the downturn to the lack of land and cheap labor in the 'Asian tigers.' They strongly advised businesses in these countries to revise the investment and management practices to cope with the changing economic situation in Asia.

Taiwan, Economic aspects, Forecasts and trends, Singapore, Economic development, Hong Kong

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Some South Korean plants earn ugly reputations

Article Abstract:

A growing number of South Korean companies abroad are being accused of unfair labor practice. Employees at the Sejen Electronic Co. plant in Zhuhai, China, for instance, are prohibited from talking while bathroom breaks are only allowed every two hours. Elsewhere in Asia, Europe and Latin America, South Korean supervisors are being known for overworking employees, union busting, physical abuse and maltreatment of employees.

Evaluation, Human resource management, Foreign corporations, Unfair labor practices

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