Doing business in Asia, Japan, China, Hong Kong, Taiwan, South Korea, and Russia.

China has its share of rich tycoons who have taken a dive.  I alluded to this in China Passes the UK.

South Korea's Daewoo wants to be sure that everyone knows that they have their share of greedy bosses as well.

The 69 year old Kim Woo Choong was sentenced to 10 years in prison and a 10 million won fine. It seems he was able to get some mercy for having shown up in a wheel chair and with an IV attached. The prosecuters wanted 15 years and forfeiture of $23 Billion!

South Korea owes much of their economic growth to the chaebol - family-controlled industrial groups like Daewoo and Samsung. Daewoo alone had brought some $50 billion worth of business to Korea by 1997.

However, it seems now that much of that growth was due to bribes of government officials and expansion based on borrowed money.

The legal system wants outsiders to know that they are cracking down on people like Kim.

One of America's big automakers has intimate ties with Daewoo...GM. Could this be more good news for GM?

I don't think so.

What do you think?

Now South Kor