Lone Star’s KEB Deal Said Illegal

By Na Jeong-juStaff Reporter Korea Times State auditors said Monday Lone Star Funds, a U.S. private equity fund, was not eligible to acquire Korea Exchange Bank (KEB) in 2003, but financial regulators approved the deal in violation of the law. Following its audit of Lone Star’s qualification to become the majority shareholder of KEB, the Board of Audit and Inspection (BAI) concluded it was illegal for the Financial Supervisory Commission (FSC) to approve the sale of KEB’s controlling stake to

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US Soldier Sentenced to 4 Years for Rape

Pvt. Geronimo Ramirez, a 23 year old U.S. Soldier, was sentenced to four years in jail for the rape and beating of a 67 year old women. The largest question in this case is not the obvious, but the fact that the Court only sentenced the soldier to 4 years in jail. Rape is only second to Murder and maybe attempted murder in seriousness. Rape affects the victim in the most proud way. This women’s life will be forever changed

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Secretary General of Con. Court Retires

So Sang Hong, Secretary General of the Constitutional Court, retired after serving the Court for six years and his nation for over 30 years as judge. He will serve as a practicing lawyer upon his retirement. Mr. So is known for his generosity, passion for law and his nation, intellectual honesty, and a keen awareness of the role of Constitutional Law in Korean society. I wish him a hardy good luck and hope he continues his contribution to this nation

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Quantifying the Value of Intellectual Assets

The Maeil Business News reported on the OECD Plenary session on Intellectual Assets and Value Creation on March 6, 2007. One of the interesting things coming out of the session is that: 40 percent of American firms’ valuation was in intellectual property during the 1980’s, whereas 70 percent of American firms’ value is in intellectual property these days, a total of $5 trillion. Richard Johnson said that innovation can be viewed differently, as its quantifiable value may be bought, sold,

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Blue Wall of Silence in the Land of the Morning Calm

The below article, appearing in the Chosun Ilbo today, displays the general attitude of many police in Korea. Police are too willing to protect other police who break the law. Here, a police Commissioner General allegedly was caught saying that police should “take it easy” on other police who violate drunk driving laws. Is the Commissioner General ordering his subordinates to not arrest police that drive drunk? As in most countries, drunk driving is one of the leading causes of

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U.S. Report on S. Korean Human Rights

The U.S. published its annual report on Human Rights. The report is on Human Rights in S. Korea is generally favorable, with only a few concerns. The U.S. major concerns were: 1. The National Security Law2. Limitations on the freedom of speech3. Violent protests4. Discrimation Against Women, Minorities, Foreigners etc.5. Prostitution and the Increase in Korean men going abroad to purchase sex6. Mistreatment of foreign spouses7. Human Trafficing8. Breach of contract by employers of foreign English teachers _____SeanHayes@ipglegal.com

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Warrant for Guards Sought for Immigration Fire

March 07, 2007 Joongang ilbo South Jeolla police said yesterday that a detainee at the Yeosu Immigration Office set the fire that killed 10 and injured 17 others last month, and sought arrest warrants for four security guards on charges of neglecting their duties.Police are investigating eight guards at the center who were on duty that night, Kim Jan-wan, chief of Yeosu Police, said yesterday in a briefing. The guards at the immigration center, operated by the Justice Ministry, did

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Can Legalization of Prostitution Work?

Korea Times Wednesday March 6, 2007 The column is entitled Lex Pro Bono and appears every Wednesday. Can Legalization of Prostitution Work? Dear Professor Sean Hayes:I am puzzled by the fact that prostitution is still rampant in Korea even though supposedly the police havecracked down on prostitution. Has the police trulycracked down on prostitution or is this just a publicrelations ploy? Puzzled Foreigner Dear Puzzled Foreigner: The police have cracked down on the visible and “underground” places of prostitution. However,

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Sex Offenders Not So Concerned About Victims’ Looks – Survey

Chosun Ilbo (Translation) March 6, 2007 A survey of convicted sex offenders found that they were more concerned about the possibility of nearby CCTV cameras than they were about their victims’ appearances. According to a doctoral dissertation by Nam Jae-sung of Dongguk University’s Police Administration department, when 272 sex offenders were asked what they were concerned about when committing their crimes, they rated CCTV cameras the most important thing, with an average score of 2.95 out of 4. The other

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Community Sites: a Portal to Crime

ChosunIlbo (translation) March 6, 2007 Some 30 cyber crime investigators from the national Police Agency gathered Monday to discuss the growing threat of crime posed by community sites. Community sites or discussion boards are both a blessing and a curse of the information superhighway. Allowing users to find like-minded people the world over, they also offer new opportunities for crime. Fraud, defamation, gambling, stalking, the sale of drugs and even murder, officers say, are facilitated by the Internet. In a

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