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January 18, 2013

Audit slams S. Korea's $20 bn river project
Seoul (AFP) Jan 18, 2013
South Korea's state auditor on Friday panned President Lee Myung-Bak's $20 billion effort to dredge, dam and beautify four major rivers, saying it was riddled with costly flaws. Revitalising the Han, Nakdong, Geum and Yeongsan rivers was the centrepiece of the outgoing president's "Green New Deal", a bold plan to create jobs after the 2008 global downturn. Started in 2009, the 22.2 trillion won ($20.1 billion) project saw the construction of 16 weirs and dams along the four rivers that were stra ... read more

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