Asia | Korea | Corruption

South Korea’s Park Geun-hye sentenced to 24 years in jail

A South Korean court has sentenced former President Park Geun-hye to 24 years in prison after she was found guilty of corruption. The disgraced former president was found guilty of several corruption charges, abuse of power and coercion in a verdict issued on Friday. She was also fined $16m. WATCH: Warrant issued for S Korea’s ex-president on corruption charges (2:13) It was alleged in the trial that Park, 66, colluded with a friend, Choi Soon-sil, and a former presidential aide, in pressuring big businesses to donate to two foundations set up to back her policy initiatives.

Asia | Korea | Corruption

South Korea’s President Has Been Removed From Office After Court Upholds Impeachment

Source: ZeroHedge.com

South Korea's constitutional court has voted unanimously, 8-0, to uphold the impeachment of President Park Guen-hye, removing her from office after a 92-day leadership crisis and triggering a presidential election in the weeks to come. A snap election my be held within 60 days. The ruling, which was announced by the court's acting chief and televised live, made Park the nation's first democratically elected leader to be ousted. She was impeached by parliament on Dec. 9 on charges of letting a close friend meddle in state affairs, colluding with her to extort money from conglomerates, and ne

Asia | Korea | Corruption

South Korean lawmakers vote to impeach President Park Geun-hye

Source: Fox News

South Korean lawmakers on Friday impeached President Park Geun-hye, a stunning and swift fall for the country's first female leader amid protests that drew millions into the streets in united fury. After the vote, parliamentary officials hand-delivered formal documents to the presidential Blue House that stripped Park of her power and allowed the country's No. 2 official, Prime Minister Hwang Kyo-ahn, to assume leadership until the Constitutional Court rules on whether Park must permanently step down. The court has up to six months to decide. Park will be formally removed from office if

Asia | Korea | Corruption

S. Korean President Faces Possible Last Day in Power

Source: ABC News

South Korean President Park Geun-hye entered what could be her last day in power Friday, as lawmakers geared up for what's widely expected to be a successful impeachment vote amid a corruption scandal that has left her isolated and loathed. The opposition feels confident that they'll get an impeachment Friday, the last day of the current parliamentary session, because dozens of members of Park's ruling party have said they'll vote against the woman who was once their standard bearer. It's possible that the vote could be delayed or fail, but lawmakers from both parties face huge pressure

Asia | Korea | Corruption

Massive South Korean protests calling for President Park ouster continue in Seoul

Source: CNN

Massive protests roiled Seoul for the second consecutive weekend as hundreds of thousands of angry South Koreans took to the streets Saturday calling for President Park Geun-hye's resignation. The march, which included families with young children, students -- some in school uniforms -- and union members, came as opposition to Park mounts following her unprecedented admission that she shared classified information with someone who lacked the necessary security clearance.

Asia | Korea | Corruption

South Korea’s first woman PM jailed for illegal funding

Source: The Star

South Korea’s first female prime minister was headed for jail Thursday after the Supreme Court upheld a conviction and two-year prison sentence for accepting illicit political funds. Now 71, Han Myeong-Sook served one year as prime minister from April 2006 under the administration of then-president Roh Moo-Hyun. In 2010, she was tried on charges of receiving 880 million won ($760,000) from a businessman in illegal campaign funding for her eventually unsuccessful 2007 bid to secure her party’s presidential nomination. Han was acquitted by a district court which found the businessma