Lee Myuang Bak, President of South Korea, was inaugurated into office on February 25, 2008. Less than two weeks later, Lee is involved in a corruption scandal involving electronic giant Samsung. From the IHT: A corruption scandal at Samsung spread to the government of the new South Korean president, Lee Myung Bak, on Wednesday as a group of [...]

Every since authorities started cracking down on the $20 billion sex trade in South Korea, many industry workers have been moving abroad in an attempt to find comparable work. The English version of the Chosun Ilbo reports on what draws some of those workers abroad: Dedicated web groups are awash with advertisements drawing prostitutes abroad. A typical [...]

From the Korea Times:  The Korea Chamber of Commerce and Industry (KCCI) estimated that the underground economy accounts for about 30 percent of the GDP with the size of the market reaching nearly 250 trillion won. It said it is imperative for the government to reduce the black market size to that of developed countries, as underground [...]

A corruption scandal is hitting global electronics company Samsung and members of the South Korean Government as allegations of bribery are level across the board. From Newsweek: One of Asia’s pre-eminent family empires is under assault. Samsung (often called the Republic of Samsung, thanks to its dominant role in the South Korean economy) is at the vortex [...]

Reuters reports on the growing popularity of peer-to-peer websites in South Korea that allows subscribers to download movies or television episodes. User-generated content sites such as “ipop” (www.ipop.co.kr) have clubs where users can pay by the download or pony up monthly subscription fees of about 10,000 won to 20,000 won ($11 to $22) that will let [...]