News Manager
Milforums News Bot
By Narae Kim SEOUL (Reuters) - South Korean Prime Minister Chung Hong-won announced his resignation on Sunday over the government response to the ferry disaster, in which it was first announced that everyone had been rescued, focusing attention on poor regulatory controls. More than 300 people, most of them students and teachers on a field trip from the Danwon High School on the outskirts of Seoul, have died or are missing and presumed dead. South Korea, Asia's fourth-largest economy and one of its leading manufacturing and export powerhouses, has developed into one of the world's most technically advanced countries, but faces criticism that regulatory controls have not kept pace. Chung's resignation has to be approved by President Park Geun-hye, who has the most power in government.More...