Presidential scandal distracts Korea from economic woes

Seoul

THE bizarre scandal engulfing South Korea's President Park Geun-hye could hardly have come at a worse time for the country's economy.

The nation's biggest company is trying to control the damage from cancelling its flagship product, its largest container shipping line went into receivership, the head of its biggest retailer has been indicted on charges of embezzlement, exports are slumping, household debt is rising, and now this.

Just when the Asian industrial dynamo needs strong leadership, accusations of influence peddling have sparked calls for Ms Park to resign along with the prime minister and several cabinet members. Crowd…