Word: korea
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...Take the Asian financial crisis of 1997. In South Korea, the biggest corporate failure - the collapse of the humungous Daewoo Group - happened two years after the onset of the crisis, when healthy economic growth had already returned. The crisis had undermined the fundamental willingness of a reformed banking sector and reform-minded government to continue backing the country's bloated and financially irresponsible companies. Daewoo's problems originated before the Asian crisis, but they only exploded after the crisis...
Cannes has the yachts, sundance the ski chalets, Berlin the tormented critics. But if you're bored of those usual suspects, consider the continuous and colorful calendar of specialized screen festivals that take place in Asia. South Korea's Pusan International Film Festival - held in a port once known more for cuttlefish than cinematography - has won a permanent place of prestige in the global film industry's annual circuit of stars and schmoozers. There are plenty more below the radar, however, advancing good causes and, from time to time, good work. Here's a roundup of a half-dozen events...
...Nearly 60 years later, excavators working for South Korea's Truth and Reconciliation Commission have been unearthing remains there and at 11 other mass graves from the Korean War. By piecing together and acknowledging the massacres, they say, South Koreans can finally put a dark chapter in history to rest - and the evidence can help victims seek compensation from the government. The commission, however, does not have the power to arrest the perpetrators. (See pictures of brawling legislators in South Korea...
...From 1950 to 1953, communist forces from North Korea and the military-run South fought one of the bloodiest civil wars of the 20th century, leaving more than 2 million civilians dead. Troops from both sides carried out mass executions. But after the Korean War ended, a succession of military dictators through the 1980s in the South suppressed the accounts; those who suggested South Korean forces might have executed innocents - and even family members who exhumed their relatives for proper burials - were harassed or arrested for being communist sympathizers...
...South Korean project poses a unique problem. Formed a half-century after the war, many victims and perpetrators have already died, complicating the processes both of fact-finding and bringing justice. Critics have questioned the value of delving so deeply into a violent era, after South Korea has already moved on to become one of the world's wealthiest democracies. Still, the long-hidden information about tactics used in a brutal war has been coming into focus, and many believe it's helping a society heal from scantily bandaged wounds. "Once the brutal facts of these massacres...