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Friday, June 17, 2005

More on Mr Kim

I had to say a few more words about Kim Woo-chung's return to Korea on Tuesday, particularly since there are some interesting developments in this Korea Times article from yesterday.

First there's the British angle, that I didn't know anything about, but with the reputation of the City, somehow doesn't surprise me. Apparently Kim Woo-chung was stashing his cash here in London in a subsidiary called (imaginatively enough) the British Finance Centre.

Next, there's this amazing nugget:
Investigators disclosed that Kim has worked as an adviser to French rolling stock maker Lohr and received 600,000 euros from the company over the last three years. He also reportedly spent 400,000 euros during his time overseas.
So, let me get his straight, this fugitive from Korean justice, who had allegedly stolen billions of dollars, was working all this time as an advisor to a French train company. And, as if that wasn't enough, he still managed to turn a profit of 200,000 euros while he was on the run. As I said before, this man is the perfect capitalist.

Finally, an amusing manp'yông (political cartoon) from Voice of the People that indicates I wasn't too far from the mark with my flippant comment about kimchi:

Kim, speaking on TV says that he returned because he was homesick and wanted ramyôn (instant noodles), while a victim of the Daewoo collapse sits in his room speechless, eating ramyôn (a sign of poverty).


At June 20, 2005 2:13 AM, Anonymous tak said...

Yeah, the best way to make money is outside the law. Amazing about his role as an advisor for a French company. And that cartoon's a gem.

At June 20, 2005 10:39 AM, Blogger kotaji said...

For big capitalists like Kim Woo-chung it seems as though 'inside the law' and 'outside the law' is a somewhat redundant distinction. Until of course public outrage or your competitors catch up with you and the state is forced to do something.

The tradition of those satirical cartoons is quite strong in Korea, every paper has them. Perhaps I should start paying a bit more attention to them: maybe a weekly selection. (No promises).


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