Word: hyundai
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Dates: during 2000-2009
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...process issues. These are all tricks that are being played on us." COLIN POWELL, U.S. Secretary of State, dismisses a third progress report on Iraq by U.N. weapons inspectors "As a person, I feel miserable and my heart is aching." KIM DAE-JUNG, South Korean President, apologizes for the Hyundai scandal, in which loans to the company were secretly funnelled to North Korea "India desires to dominate the region. It is a desire that will never be fulfilled." SHEIKH RASHID AHMED, Pakistani Information Minister, lashes out following India's third missile test in recent months, as Indo-Pak rhetoric heats...
...This doesn't seem to have registered in Seoul, where the escalating crisis hasn't deterred South Korea from pushing ahead with plans to funnel more economic aid to the North. Last week, executives from South Korea's Hyundai Asan, a subsidiary of the giant Hyundai conglomerate, were taken in buses across the border on a road built to improve access to a tourism development in the North. The caravan over the first new route across the DMZ since the end of the Korean War was a poignant, intensely emotional moment for Koreans. Hyundai Asan plans to pour $250 million...
...crowning achievement?his 2000 Nobel Peace Prize?may thus be tainted by charges of checkbook diplomacy. After a three-month investigation, the Board of Audit and Inspection of Korea declared that, just a week before the summit, $332 million was transferred from the state-run Korea Development Bank into Hyundai Merchant Marine, a subsidiary of the Hyundai conglomerate, which has connections to the North. The business kept $146 million for itself, while $186 million was paid directly to North Korea. President Kim, entering his final month in office, could only offer rationalizations. "The unique circumstances of South and North Korean...
...opponents see it, Kim's obsession with inter-Korean cooperation has badly backfired. "Hyundai's money not only saved a regime on the verge of economic collapse but also might have been spent for enforcing their WMD [weapons of mass destruction] program," claims opposition Grand National Party lawmaker Eom Ho-sung. Convinced the financial gambit was a collaboration between the National Intelligence Service, the Blue House and the Hyundai Corporation, the party is calling for an independent inquiry. Even President-elect Roh Moo Hyun, who promised in his campaign to keep the "Sunshine Policy" alive, has voiced his support...
...They refused to believe that I wasn’t rich,” he marvels. “I was like, ‘I’m driving a Hyundai, for God’s sake...