Park digs in; tycoons deny seeking favours
Korean president says if impeached, she would wait for a court to uphold the decision
Seoul
SOUTH Korean President Park Geun-hye, engulfed in an influence peddling scandal, said if she was impeached she would wait for a court to uphold the decision, a party official said on Tuesday, a sign that a political crisis could drag on for months.
Ms Park's embattled presidency faces a critical juncture, with Parliament expected to hold an impeachment vote on Friday. Even if the motion is passed, it must be upheld by the Constitutional Court, a process that could take at least months.
Separately, South Korea's most prominent corporate chiefs told a parliamentary panel they had not sought favours when they made contributions to two foundations at the heart of the scandal, even as one of them acknowledged it was hard to say "no" to the government. "It's a South Korean reality that if there is a government request, it is difficult fo…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
South Korea readies new system to detect illegal short-selling
US births retreat after pandemic-era growth
Markets are embracing India’s Modi for what he won’t do
Blinken to meet businesses in Shanghai as he kicks off a tough China trip
Indonesia’s central bank surprises with ‘pre-emptive’ rate hike to cushion falling rupiah
South Korea’s economic growth beats forecast as exports rise