With North Korea escalating its threats to test a ballistic missile, South Korean President Park Geun Hye was conferring with Bill Gates on another pressing matter. Seated across from Microsoft Corp.’s billionaire co- founder on April 22 at a formal dining table in the Blue House, her official residence, Park picked the tech mogul’s brain about how to nurture entrepreneurs to keep the world’s 15th-largest economy humming.
South Koreans go to the polls tomorrow in local elections that are likely to give a victory to President Lee Myung Bak ’s party, endorsing his hard-line stance against North Korea for the torpedoing of a warship.
South Korean President Lee Myung Bak ’s administration reversed course on a $13 billion plan to develop a new city after lawmakers rejected a proposal to get businesses instead of government agencies to move there.
South Korea’s financial watchdog came under increased scrutiny over its monitoring of savings banks after Prime Minister Kim Hwang Sik said it resisted probes by the state auditor into the lenders last year.
The head of South Korea’s ruling Grand National Party offered to resign today, saying he is “humbly accepting” the people’s decision in local elections. GNP leader Chung Mong Joon said he would step down in a statement today on the party’s Web site.
South Korea’s embattled ruling Grand National Party softened its stance toward North Korea in a new policy platform that seeks to appeal to voters ahead of this year’s parliamentary and presidential elections.