South Korean court jails former president Park for 24 years

Agencies
April 6, 2018

Seoul, Apr 6: A South Korean court jailed former President Park Geun-hye for 24 years on Friday over a scandal that exposed webs of corruption between political leaders and the country’s conglomerates.

Park became South Korea’s first democratically elected leader to be forced from office last year when the Constitutional Court ordered her out over a scandal that landed the heads of two conglomerates in jail.

The court also fined Park, the daughter of a former military dictator, 18 billion won ($16.9 million) after finding her guilty of charges including bribery, abuse of power and coercion.

“The defendant abused her presidential power entrusted by the people, and as a result, brought massive chaos to the order of state affairs and led to the impeachment of the president, which was unprecedented,” judge Kim Se-yoon said as he handed down the sentence.

The court ruled that Park colluded with her old friend, Choi Soon-sil, to receive 23.1 billion won from major conglomerates including Samsung and Lotte to help Choi’s family and bankroll non-profit foundations owned by her.

Prosecutors sought a 30-year sentence and a 118.5 billion won ($112 million) fine for Park.

Park, 66, who has been in jail since March 31 last year, has denied wrongdoing and was not present in court.

The judge said Park had shown “no sign of repentance” but had instead tried to shift the blame to Choi and her secretaries.

“We cannot help but sternly hold her accountable,” Kim said.

Park apologized at her trial for seeking help from Choi, who had no policy or political experience, but that was as close as Park came to admitting any guilt.

The sentence will be a bitter blow for Park, who returned to the presidential palace in 2012 as the country’s first woman leader, more than three decades after she left it following the assassination of her father.

Her ouster from office last year led to a presidential election won by the liberal Moon Jae-in, whose conciliatory stand on North Korea has underpinned a significant warming of ties between the rival neighbors.

Moon’s office said Park’s fate was “heartbreaking” not only for herself but for the country, and added that history that was not remembered history would be repeated.

“We will not forget today,” the office said.

Up to 1,000 Park supporters gathered outside the court, holding national flags and signs calling for an end to “political revenge” against her.

SUPPORTERS, OPPONENTS

Prosecutors accused Park of colluding with Choi to receive 7 billion won from Lotte Group for favors, while pressuring big businesses to bankroll non-profit foundations run by Choi’s family and confidants.

Park was also charged with taking bribes totaling 29.8 billion won from Samsung, the world’s biggest maker of smartphones and semiconductors.

Choi was convicted and jailed for 20 years after a separate trial in February.

The chairman of the Lotte Group, the country’s fifth-largest conglomerate, Shin Dong-bin, was jailed for two years and six months.

Samsung Group heir Jay Y. Lee was jailed for a similar term on charges of bribery and embezzlement but in a surprise decision in February, an appeals court freed him after a year in detention.

Park’s supporters and opponents reflect divisions in a society still haunted by Cold War antagonism.

Most supporters are older conservatives who remember her father’s authoritarian 18-year rule, beginning in 1961, when their country began its remarkable surge towards becoming an economic power.

Younger, liberal voters, who staged months of protests against Park before her ouster, will be hoping the verdict will mark a major step towards ending the self-serving collusion between political leaders and the chaebol conglomerates.

Park is the latest former leader of South Korea to run afoul of the law.

Her predecessor, Lee Myung-bak, is also being investigated for corruption.

Chun Doo-hwan, a former military dictator, was found guilty of mutiny, treason and corruption in 1996. He was sentenced to death but released after two years under a presidential pardon.

Chun’s successor, Roh Tae-woo, was also convicted of treason, mutiny and corruption in 1996 and jailed for more than 22 years but served just over two years before being released.

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Agencies
February 16,2020

New Delhi, Feb 16: Aam Aadmi Party (AAP) national convener Arvind Kejriwal was on Sunday sworn-in as the Chief Minister of Delhi for the third time in a row at Ramlila Maidan here, after his party registered a massive victory in the recently concluded Delhi Assembly polls.

Kejriwal was administered the oath of office and secrecy by Delhi Lieutenant Governor Anil Baijal.

The sprawling Ramlila Maidan reverberated with sounds of thousands of people cheering for the AAP leader.

Kejriwal who received a hero's welcome here had extended an invitation to the people of Delhi urging them to attend the swearing-in ceremony to witness "the son of Delhi" taking oath today.

The AAP nearly repeated its 2015 performance in the elections, sweeping the Assembly polls winning 62 seats in the 70-member Assembly, in the face of a high-voltage campaign by the BJP, which fielded a battery of Union Ministers and Chief Ministers in its electioneering spearheaded by Home Minister Amit Shah. 

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News Network
February 10,2020

New Delhi, Feb 10: Former Jammu and Kashmir chief minister Omar Abdullah's sister on Monday moved the Supreme Court to challenge his detention under the Public Safety Act.

Senior advocate Kapil Sibal, appearing for the petitioner, mentioned the matter for urgent listing before a bench headed by Justice N V Ramana.

Sibal told the bench that they have filed a habeas corpus petition challenging the detention of Abdullah under the PSA and the matter should be heard this week.

The bench agreed for urgent listing of the matter.

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News Network
February 1,2020

Washington, Feb 1: The Indian economy experienced some abrupt slowdown in 2019 due to turbulence in non-banking financial institutions and major reform measures such as GST and demonetisation, but it is not in a recession, IMF Managing Director Kristalina Georgieva has said.

"The Indian economy indeed has experienced an abrupt slowdown in 2019. We had to revise our growth projections, downwards to four percent for last year. We are expecting 5.8 per cent (growth rate) in 2020 and then an upward trajectory to 6.5 percent in 2021," Georgieva told a group of foreign journalists here on Friday.

"It appears that the main reason for this slowdown was the non-banking financial institutions experiencing a turbulence," she said on the eve of Union Finance Minister Nirmala Sitharaman presenting the annual budget in Parliament on Saturday.

She said India had undertaken some important reforms that over the longer term would be beneficial for the country, but they do have some short-term impact.

"For example, coming with the unified tax system, and the demonetisation that took place. These are steps that over time are beneficial, but of course they might, might be somewhat disruptive over short term," Georgieva said in response to a question.

The International Monetary Fund (IMF) Managing Director said that there is not a lot of fiscal space in India. “But we also recognise that the policies of the government on that side, on the fiscal side have been prudent. We will see how the reading of the budget, the submission of the budget goes, tomorrow,” she said.

In the medium-term, she said, the IMF remains optimistic about India. “This is why we see that upswing potential for the growth in the country,” she said.

Georgieva said that the current economic slowdown cannot be described as a recession. "No.... You're far from that. But it is a significant slowdown, not the recession," she said.

The IMF managing Director noted that the consumption in India also slowed down and that contributed to the overall slowdown in the economy. The IMF would be keen to see what India does to get relatively sound macroeconomic fundamentals to pay off in terms of better growth trajectory, she said ahead of the budget.

One thing that is important for India is that budgetary revenue have been below target. "The country knows that. The finance minister knows it. They need to increase budgetary revenue collection so they can improve their fiscal position. I said it's tight on the spending side, but I also want to stress that there is room to improve collection on the revenue side," she said.

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