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.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
February 5,2020

Chennai, Feb 5: The popular cine actor Rajinikanth has defended the Union Government on the Citizenship Amendment Act, saying it will not affect the Indian Muslims.

In a brief interaction with reporters this morning in Chennai, the matinee idol said if the Muslims are affected by the CAA, he would be at the forefront in their defence. He asked how will the legislation affect the Indian Muslims when they chose to stay back in the country to make it their motherland. Mr Rajinikanth also supported the National Population Register saying it has been in force even in the past.

On the NRC, Mr Rajinikanth said the Government has already made it clear that its nationwide rollout has not been even discussed so far. Mr Rajinikanth is nourishing political ambitions and has made it clear that he would plunge into politics ahead of the Tamil Nadu Assembly Elections in the state which is due in 2021.

Comments

Arif
 - 
Wednesday, 5 Feb 2020

This law violates the fundamentals of the Indian constitution. Whey they are seeing the Muslims angle first?

 

It looks that they are misinforming the public by diverting into a Muslim only issue. If that was the case, why so many non-Muslims are protesting? I looks like Rajini has back-end support to the center's CAA move.

 

Suresh SS
 - 
Wednesday, 5 Feb 2020

He is another crack, hamare desh main pagal logon ki kami nahi

Wellwisher
 - 
Wednesday, 5 Feb 2020

What can expect from ex KSRTC bus conductor

 

 
clear sign of ZERO knowedge with Indian constitution.

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
February 16,2020

Washington, Feb 16: India and the United States share "unshakeable" ties, said US Principal Deputy Assistant Secretary (PDAS), Alice Wells, on Sunday, adding that the upcoming visit of President Donald Trump will further strengthen the relationship between the two countries.

"The U.S. and #India enjoy a close partnership that grows stronger day by day. Together, we are breaking records. For example, we welcomed a record number of Indian exchange students to the US last year and hope to receive even more this year," said Bureau of South and Central Asian Affairs in a tweet attributed to Alice Wells.

"The ties between our countries are unshakeable, and we look forward to an even warmer relationship as @narendramodi hosts @POTUS later this month," it added.

Trump will pay a two-day state visit to India from February 24 at the invitation of Prime Minister Narendra Modi.

"India is at the heart of the Indo-Pacific region and plays an increasingly prominent role on the world's stage. The U.S. looks forward to partnering with #India at every step of the way, " Alice Wells further said.

According to the Ministry of External Affairs (MEA), Trump is expected to attend an event at the Motera Stadium in Ahmedabad on the lines of the ''Howdy Modi'' function that was addressed by the US President and PM Modi in Houston in September last year. Trump is slated to pay a two-day visit to India from February 24.

During the visit, Trump, who will be accompanied by First Lady Melania, will attend official engagements in New Delhi and Ahmedabad, and interact with a wide cross-section of the Indian society, the MEA said in a statement.

The announcement of Trump's first official visit to India was earlier made by the White House on Monday, which, in its statement, said that the US President and Modi had agreed during a recent phone conversation that the trip will "further strengthen the United States-India strategic partnership and highlight the strong and enduring bonds between the American and Indian people".

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
February 29,2020

New Delhi, Feb 29: India’s economy expanded at its slowest pace in more than six years in the last three months of 2019, with analysts predicting further deceleration as the global Covid 19 coronavirus outbreak stifles growth in Asia’s third-largest economy.

The gross domestic product (GDP) data released yesterday showed government spending, private investment and exports slowing down, while there is a slight upturn in consumer spending and improvement in rural demand lent support.

The quarterly figure of 4.7% growth matched the consensus in a Reuters poll of analysts but was below a revised - and greatly increased - 5.1% rate for the previous quarter.

The central bank has warned that downside risks to global growth have increased as a result of the coronavirus epidemic, the full effects of which are still unfolding.

Prime minister Narendra Modi’s government has taken several steps to bolster economic growth, including a privatisation push and increased state spending, after cutting corporate tax rates last September.

In its annual budget presented this month, the government estimated that annual economic growth in the financial year to March 31 would be 5%, its lowest for last 11 years.

Modi’s government is targeting a slight recovery in growth to 6% for 2020/21, still far below the level needed to generate jobs for millions of young Indians entering the labour market each month.

The annual GDP figure for the September quarter was ramped up from an earlier estimate of 4.5%, while the April-June reading was similarly lifted to 5.6% from 5%, data released by the Ministry of Statistics showed on Friday.

Capital Investment Drop

In the December quarter, private investment grew 5.9%, up from 5.6% in the previous quarter, while government spending rose by 11.8%, against 13.2% in the previous three months.

However, corporate capital investment contracted by 5.2% after a 4.1% decline in the previous quarter, indicating that interest rate cuts by the central bank have failed to encourage new investment. Manufacturing, meanwhile, contracted by 0.2%.

“It appears growth slowdown is not just cyclical but more entrenched with consumption secularly joining the slowdown bandwagon even as the investment story continues to languish,” said Madhavi Arora of Edelweiss Securities in Mumbai.

Many economists said that the government stimulus could take four to six quarters of time before lifting the economy and the impact of those efforts could be outweighed by the global fallout from the coronavirus epidemic that began in China.

“The coronavirus remains the critical risk as India depends on China for both demand and supply of inputs,” said Abheek Barua, chief economist at HDFC Bank.

Indian shares sank on Friday for a sixth session running, capping their worst week in more than a decade. The NSE Nifty 50 index shed 7.3% over the week, while the Sensex dropped 6.8%, the worst weekly declines since the 2008-09 financial crisis.

Separately, India’s infrastructure output rose 2.2% year on year in January, data showed on Friday.

A spike in inflation to a more than 5-1/2 year high of 7.59% in January is expected to make the RBI hold off from further cuts to interest rates for now, while keeping its monetary stance accommodative.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.