Budget 2018-19

  Chun had multiple myeloma, a blood cancer which was in remission, and his health had deteriorated recently, his former press secretary Min Chung-ki told reporters Former South Korean President  Chun Doo-hwan , whose iron-fisted rule of the country following a 1979 military coup sparked massive democracy protests, died on Tuesday at the age of 90, his former press aide said. Chun had multiple myeloma, a blood cancer which was in remission, and his health had deteriorated recently, his former press secretary Min Chung-ki told reporters. He passed away at his Seoul home early in the morning and his body will be moved to a hospital for a funeral later in the day. A former military commander, Chun presided over the 1980 Gwangju army massacre of pro-democracy demonstrators, a crime for which he was later convicted and received a commuted death sentence. His death came about a month after another former president and his coup comrade Roh Tae-woo, who played a crucial but controvers...

  Pandemic has taken a double hit on K-beauty. Social distancing and remote work have lessened demand for makeup and led to store closures Three years ago, Suh Kyung-bae was the second-richest person in South Korea. Today he’s barely Top 10, a stark reversal in a K-beauty boom known for minting billionaires, not breaking them. Suh’s $3.6 billion fortune — down from roughly $8 billion in 2017 — is largely comprised of shares in his family’s cosmetics conglomerate, Amorepacific Group, which have fallen more than 40% from a mid-January high. The parent of brands like Innisfree, Laniege and Sulwhasoo, Amorepacific was struggling even before Covid-19, and the pandemic has ushered in a slew of lifestyle changes that have made cosmetics less central to women’s daily routines. That’s brought a halt to the wealth created by the rapid rise in popularity of Korean beauty products and the deal-making frenzy that followed. From 2010 to 2014, foreign companies spent at least $215 million to acqu...