5i i55 55515 l5§5zt im sally bundock. In a moment well be talking about whats going on in australias banks, as westpac faces trial over lending practices. But first its the scandal thats engulfed a nation. Former south korean President Park geun hye is being questioned w. W by prosecutors over a Corruption Scandal that brought her down. E elggfgfs lt from the government. But the scandal has also raised questions about the role of the so called chaebols within korean society. These influential groups the domestic economy. To put this in perspective, samsung alone accounts for 30 of the entire value of the korean the government claims that its biggest Trading Partner Sanctions on the country. 5 ,. Over its decision to host the United States Thaad Mieeile defence svstemv. , Hejoins Me On The Line from singapore. 553 you for being on the programme. 5. E, 553 you for being on the programme. If, e, 553 you for being on the programme. If w5 first of programme. If we first of all start with the issue of chaebols. Many are that the impeachment at. Park and that the boss of President Park and that the boss of samsung is what will cause this to change. Will it . fi efe §§§¥e§ have change. Will it . fi efe eee¥ee have had change. Will it . fi efe eeeeee have had problems with chaebols we have had problems with chaebols we have had problems with chaebols we have had president ial pardons and nothing s been done about it. The difference this time around is the level of public disquiet we have had with the impeachment of President Park and now the prosecutors and the issues going on at samsung. This should give the new leadership when they come in a strong mandate for corporate reform. We see this situation as being slightly different to historical instances and hopefully more positive responses going forward. And hopefully more positive responses going forwardm and hopefully more positive responses going forward. It is interesting because many are watching this very closely because they are waiting to see if this will be the trigger to see if thece is a be the trigger to see if there is a historic change as to how business is done in south and yet it is done in south korea and yet it seemed to be business as usual. The south korean Stock Market Climbing Up south korean Stock Market Climbing Up and up to date, samsung shares going up em up. We will all still going up and up. We will all still buy the goods all over the world, the likes of samsung and hyundai. Jiffff the stock marlfl have absolutely. The Stock Markets have e absolutely. The Stock Markets have z buoyed by absolutely. The Stock Markets have if buoyed by the idea absolutely. The Stock Markets have . Buoyed by the idea that been buoyed by the idea that corporate reform is coming. These eereerete reform,isfiomingjhesel are still International Companies very strong brand. You only need and very strong brand. You only need e55 and very strong brand. You only need i look at finland and the impact and very strong brand. You only need i look at i ofand and the impact and very strong brand. You only need i look at i of nokia d the impact and very strong brand. You only need i look at i of nokia had a impact and very strong brand. You only need i look at i of nokia had and pact and very strong brand. You only need i look at i of nokia had and the the decline of nokia had and the impact of other companies collapsing. Impact of other companies colla psing. e5555 . Impact of other companies collapsingi has struggled after nokia. Generate growth after nokia. Fenland. South korea this. The financial crisis, growth since the financial crisis, growth has stagnated. This is probably due to the fact that all these chaebols around the sector. 55. 5 is around the services sector. There is fear in around the services sector. There is fear in the around the services sector. There is fear in the long term, the fear that in the long term, 5s may the fear that in the long term, eh. may be a japanese the fear that in the long term, eh may be a japanese style period there may be a japanese style period of stagnation. It is a hot topic for the new administration when they come in. In the meantime, add to that these spats that isi merging that these spats that is a merging between 5555 korea china. Between south korea and china. Businesses are saying that actually we are seeing sanctions imposed on a korean businesses in mainland south korean bush4555955551 zmaefieafide for south korean businessesi n zmaeneande for example. Thna. For examgle are eqiieeibe55 555 thna. For examgle are concerns of 5 thna. For examgle are concerns of deployment thna. For egamgle are concerns of deployment of there are concerns of deployment of 1l. I there are concerns of deployment of if . Ante Missile System there are concerns of deployment of f ante Missile System that the ante Missile System that already we have seen the chinese and we have seen the chinese respond and they have 255 a 5 we have seen the chinese respond and they have a ban i we have seen the chinese respond and they have a ban on chinese they have imposed a ban on chinese tour groups e; south they have imposed a ban on chinese tour groups e; south korea. A tour groups visiting south korea. A number of tour groups going to south they korea are china and they spend more than the average tourist in south than the average tourist ineontir as than the average tourist irraoutir as well. On paper korea as well. The imnaft on nanerl relatively korea as well. The imoaft on oaoerl relatively strong but we must seems relatively strong but we must consideritis. Seems relatively strong but we must consider it is a. Seems relatively strong but we must consider it is a relatively seems relatively strong but we must leashes it is a relatively immature i consider it is a relatively immature Tourism Sector in south korea. Only about 3. 5 of revenues come about 3. 5 of Export Revenues come from it has stoked about 3. 5 of Export Revenues come from it has stoked fears, from tourism. It has stoked fears, though, of further actions from china. Clearly trade is a significant topic. The south korea and exports around 130 Billion Us Dollars of goods to china. It is a Roundabout 25 of total goods and exports. We do not see china in posing significant trade barriers, however, the integration of south korean products into the chinese supply chain means that any type of response on supply trade punitive response on supply trade might be self defeating in terms of the chinese business. Nevertheless, south korea is stuck between a rock and a hard hard place. We have seen rex tillerson, the us secretary of state, on his visit to asia are. All right. It is a difficult situation in terms of balancing between relations at china and the us. Banks, all of us. Sorry to interrupt you but time is getting the better of us. The us is in other news the Us Government is expected to announce on tuesday, that with immediate effect, its banning certain of countries in the middle east and north africa. Speaking off the record, Government Officials said the prohibition would apply to devices larger than a mobile phone on non stop flights frsmflteni airports in eight unspecified countries. The Guardian Newspaper is reporting that several uk banks processed nearly 740m from a vast Money Laundering operation, run by russian criminals with links to the russian government and the kgb. Hsbc, the royal bank of scotland, lloyds mfayeand ceuttsjeeesomel of the banks facing questions over what they knew about the international scheme. Documents seen by the guardian show that at least 20bn appears to have been moved out of russia during a four year period between 2010 and 2014. To delivery drones