VOA标准英语2008年-S. Korean Court Overturns Ruling in Bellwether

（单词翻译）

A South Korean court has overturned the conviction of an American investment firm executive for financial crimes related to the purchase of a South Korean bank. It is the latest twist in a case that has come to symbolize¹ South Korea's occasionally challenging disposition² towards outside investors⁴. VOA Seoul Correspondent Kurt Achin reports.
　
Paul Yoo, head of Lone⁵ Star's South Korean operation, center, exits Seoul Court following his release, 24 Jun 2008

Tuesday's ruling by a South Korean appeals court overturns a five-year prison sentence handed down, earlier this year, to Paul Yoo - a Korea-based executive for the U.S. private equity⁶ firm, Lone Star.

Yoo had been convicted of conspiring⁷ to spread false information about assets belonging to Korea Exchange Bank. Lone Star bought a controlling interest in the bank, five years ago.

Prosecutors⁸ argued Yoo and KEB executives collaborated⁹ to drive down share prices of the bank's separate credit card unit, to make it easier to merge¹⁰ the unit back into the bank.

Yoo and Lone Star have insisted they did nothing wrong. A South Korean judge said Tuesday there was not enough evidence to sustain the convictions. He also canceled nearly $50 million in fines split between Yoo and KEB.

The Lone Star case has come to symbolize challenges that come with investing in South Korea, which has at times been seen as hostile to foreign influence and capital. Kim Sang-jo, an international trade professor at Seoul's Hansung University, says the timing¹¹ of the verdict could cause such hostility¹² to escalate¹³.

He says South Koreans are already distrustful of the United States, in connection to a controversy¹⁴ about American beef imports. He says, even though the ruling was made in a purely¹⁵ legal context, it could fuel anti-American hostility further.

Lone Star is trying to broker¹⁶ a six-billion-dollar-plus sale of Korea Exchange Bank to Europe's HSBC, but HSBC executives have warned they may pull out of the bid, if it is not completed by next month.

South Korean financial regulators are delaying approval of the Korean Exchange Bank sale, pending¹⁷ appeals of Tuesday's verdict. Professor Kim says that might be a mistake.

He says, even though a court has ruled Lone Star is not guilty, regulators are dragging their feet. He says that must come as a disappointment to foreign investor³ and that it may get harder for South Korean President Lee Myung-bak to attract the kind of international investment he is hoping for.