Articles by Lee Sun-young
Lee Sun-young
milaya@heraldcorp.com-
Ex-top bank regulator questioned over scandal
Kim suspected of peddling influence to help savings bankA former chief of Korea’s financial regulator appeared before prosecutors Thursday to face questioning over allegations of influence peddling in a widening investigation into corruption at mutual savings banks. Kim Jong-chang, who was until March governor of the Financial Supervisory Service, is suspected of exerting his influence to help Bus
Social Affairs June 9, 2011
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Accounting firms next to face scrutiny
Prosecutors suspect lax or corrupt auditing worsened savings banks problemsProsecutors investigating corruption at mutual savings bank are set to scrutinize accounting firms which they say stood by while the lenders engaged in massive illegal lending and cooked books to conceal their true financial status. Investigators on Wednesday raided an office of Deloitte Anjin LLC in Gwangju, South Jeolla P
Social Affairs June 8, 2011
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[News Focus] Lee backs prosecution over key unit
The parliamentary move to scrap the state prosecution’s elite investigation unit faces a murky outlook after the presidential office sided with prosecutors Monday to oppose plans to scrap it. The presidential office of Cheong Wa Dae threw its weight behind Prosecutor General Kim Joon-gyu who argued that removing of the Central Investigation Department at the Supreme Public Prosecutors’ Office woul
Social Affairs June 7, 2011
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Top prosecutor says bank scandal probe will continue
Presidential office urges GNP to consider unit repeal with cautionProsecutors will continue with corruption investigations at mutual savings banks to the end, despite the move by politicians to scrap the state prosecution’s central investigation unit, Prosecutor General Kim Joon-gyu said Monday. “If a ship sails to a wrong destination, the captain should take the responsibility. There is no reason
Politics June 6, 2011
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Inside Korea’s CSI headquarters
Forensic agency boasts world-class science to catch the bad guys“Mondays are busy here. A lot of dead bodies from the weekend,” said Chung Hee-sun with a friendly smile, as we sat down for an interview in her office in western Seoul. Behind her, the motto “Science sheds light on the truth” hung on the wall. “My staff told me that we had a famous singer in for an autopsy over the weekend,” she cont
Social Affairs June 3, 2011
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Ex-FSS chief faces probe in savings bank scandal
The prosecution plans to summon for questioning a former chief of the nation’s financial watchdog in a widening investigation into corruption at Busan Mutual Savings Bank. Kim Jong-chang, who was until March this year governor of the Financial Supervisory Service, is suspected of exerting his influence to help the lender survive regulatory inspections. Kim Jong-changThe FSS is the nation’s top fi
Social Affairs June 1, 2011
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Bank lobby probe closes in on senior officials, politicians
Rival parties agree to launch parliamentary investigationProsecutors are widening their probe into irregularities by Busan Mutual Savings Bank after picking up clues that the financially troubled bank had attempted to lobby many politicians and senior officials of the government, possibly including Cheong Wa Dae, to block financial regulators from ordering its closure.The prosecution said that it
Politics May 30, 2011
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Somali pirate Arai sentenced to life in prison
A Somali pirate who hijacked a South Korean freighter and shot its captain early this year was sentenced to serve the rest of his life in a Korean prison. The Busan District Court on Friday handed down life imprisonment to Mahomed Arai, 21, the leader of five pirates captured on the hijacked ship, Samho Jewelry, for attempted murder, maritime robbery and six other offenses. Three others -- Abdikha
Social Affairs May 27, 2011
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New English test plan faces backlash
Critics say revised college exam will worsen education crazeThe government’s plan to include English speaking and writing ability tests in the national college entrance exam has stoked worries that it will add fuel to the nation’s already red-hot craze for English education. The Education Ministry on Thursday unveiled a draft plan to introduce a new English aptitude test that will replace the Engl
Social Affairs May 27, 2011
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Ex-Lee attorney embroiled in savings bank scandal
President accepted BAI commissioner's resignationA confidant of President Lee Myung-bak is suspected of taking bribes from Busan Mutual Savings Bank in return for influence peddling over the financial regulators’ inspection of the lender, reports said Thursday.The prosecutors, who have been probing irregularities at the bank, have sent a subpoena against Eun Jin-su, a commissioner for the Board of
Social Affairs May 26, 2011
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GNP conflict deepens on tuition, N.K.
Floor leader meets education minister; reformist calls for easing Pyongyang stanceConflict among ruling Grand National Party legislators over policy directions intensified Wednesday, as the party’s new leaders pushed forward a plan to reduce college tuition fees despite resistance from the old guard. Rep. Hwang Woo-yea, floor leader and acting chairman of the conservative ruling bloc, met Wednesda
Politics May 25, 2011
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[News Focus] GNP embroiled in identity crisis, feud
Conflicts over free school meals, college tuition fee cut escalateAn identity crisis is deepening at the Grand National Party, after reformists who emphasize greater welfare for the working class took control of the ruling conservative bloc. On one side, the party’s two new chiefs ― floor leader Rep. Hwang Woo-yea and top policymaker Rep. Lee Ju-young ― are championing a plan to slash college tuit
Politics May 24, 2011
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Lee, volunteers celebrate accomplishments
President lauds World Friends Korea, stresses aid to developing countriesKorean volunteers celebrated the accomplishments they have made abroad in the brand of World Friends Korea on Monday.In a ceremony at Cheong Wa Dae, they also vowed to widen their assistance and aid to developing countries. “Already nearly 4,500 Koreans are volunteering in lots of countries, wearing the logos of World Friends
Social Affairs May 23, 2011
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