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South Korea’s ex-leader Park abused power to gain bribes, prosecutor tells court

May 23, 2017 By Christine Kim SEOUL (Reuters) – South Korea’s former leader Park Geun-hye abused her power and pressured companies to pay her tens of millions of dollars in bribes, a prosecutor told a Seoul court at the start of her corruption trial on Tuesday. If found guilty of taking bribes from business leaders including Samsung Group [SAGR.UL] scion Jay Y. Lee, one of the key accusations that led to her impeachment, Park faces more than 10 years in jail. Park, the country’s first democratically elected leader to be…

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South Korea will stabilize markets if needed: vice finance minister

March 11, 2017 SEOUL (Reuters) – South Korea’s vice finance minister on Saturday said the government will take measures to stabilize markets as needed against any volatility that could arise from the Constitutional Court’s ruling to remove President Park Geun-hye from office. “The government-wide task force designed to respond to urgent economic matters will closely monitor financial markets and currencies 24-hours a day and respond swiftly, decisively when abnormalities are seen,” Choi Sang-mok told government officials, according to a statement released after the meeting. South Korean shares ended at a…

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