TY  - CHAP
AB  - The Hanbo (meaning Korean treasure) scandal or “Hanbogate” occurred on January 23, 1997, with the bankruptcy of Hanbo Iron and Steel Company, the second largest steel company and 14th largest conglomerate in South Korea, as its debt had accumulated to US$5.6 billion. Hanbo's bankruptcy triggered an investigation by the Public Prosecutor's Office that resulted in the imprisonment for 15 years of Hanbo's founder, Chung Tae-Soo, for bribing politicians and bankers to pressure banks to extend hugh bank loans to Hanbo. Nine other persons were also convicted including Chung's son, who was jailed for three years for bribery and embezzlement, and Kim Hyun-Chol, the second son of President Kim Young-Sam, who was sentenced to three years jail and fined US$1.5 million (New York Times, 1997).
VL  - 20
SN  - 978-0-85724-819-0, 978-0-85724-820-6/0732-1317
DO  - 10.1108/S0732-1317(2011)0000020016
UR  - https://doi.org/10.1108/S0732-1317(2011)0000020016
AU  - Quah Jon S.T.
ED  - Jon S.T. Quah
PY  - 2011
Y1  - 2011/01/01
TI  - Chapter 9 South Korea
T2  - Curbing Corruption in Asian Countries: An Impossible Dream?
T3  - Research in Public Policy Analysis and Management
PB  - Emerald Group Publishing Limited
SP  - 307
EP  - 340
Y2  - 2024/04/27
ER  -