Word: koreans
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...Turning around Shenzhen?among China's most troubled banks, with some 9% of its loans officially nonperforming?won't be any easier than buying it. But Shan, 51, has been there before. In 2000 he helped Newbridge become the first foreign owner of a South Korean bank, Korea First; Newbridge managers doubled the bank's assets and strengthened its loan portfolio. In January Newbridge sold its 49% stake to Standard Chartered for $1.6 billion?nearly quadrupling the fund's investment...
Turning around Shenzhen--among China's most troubled banks, with some 9% of its loans officially nonperforming--won't be any easier than buying it. But Shan, 51, has been there before. In 2000 he helped Newbridge become the first foreign owner of a South Korean bank, Korea First; Newbridge managers doubled the bank's assets and strengthened its loan portfolio. In January Newbridge sold its 49% stake to Standard Chartered for $1.6 billion--nearly quadrupling the fund's investment...
...Republican heavyweight Tom DeLay's former chief of staff, Ed Buckham, in early 2001 to develop what Buckham's lobbying firm described as a "work plan." The goal, according to the first sentence of that five-page proposal, was nothing short of establishing "Chairman Kim as the leading Korean business statesman in U.S.-Korean relations...
...some tax-exempt organizations, the question is whether their charitable works are an end in themselves--or a means to one. KORUSEC's stated goals included working for peace on the Korean peninsula and building stronger ties between U.S. and Korean leaders. But KORUSEC strengthened Kim's own ties in Washington as well. As chairman of KORUSEC, Kim--virtually its only donor--was host to a procession of congressional delegations through Korea, sat in the House gallery as DeLay's guest of honor at President Bush's 2003 State of the Union address and later that year met with Vice...
...Joel Johnson--a former Clinton White House official who has since moved from Harbour to the Glover Park Group and taken the KORUSEC account with him--says he was hired "to recruit Democrats to go on trips." He insists, however, that the excursions were serious endeavors with briefings by Korean officials and a trip to the demilitarized zone. As for elevating Kim's image with the delegations, Johnson insists, "It was never the purpose ever stated to me." In the meantime, defining exactly what charity is, and how it should be bestowed, has become Washington's latest investigative mission. --With...