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Samsung Life, Kyobo Shun U.S., Europe for Korea Bonds

on Wednesday, July 16th, 2008 at 12:00 am

Bloomberg- South Korean life insurers are shunning U.S. and European corporate bonds because of a rising risk of default and plowing money into domestic debt.
Samsung Life Insurance Co., Korea’s biggest insurer, is diverting $500 million into 10-year government bonds, said Koo Sung Hoon, head of investments at the company. Kyobo Life Insurance Co., the third-largest, […]

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Ex-Samsung chief handed 3-year suspended jail term

on Wednesday, July 16th, 2008 at 12:00 am

Reuters- Former Samsung Group chief Lee Kun-hee, one of South Korea’s most powerful businessmen, was handed a 3-year suspended jail sentence on Wednesday for tax evasion, but was cleared of other charges.
The court also fined Lee 110 billion won ($109 million), more than double the amount of […]

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