Hanwha Chief Goes Back to Work with Massive Deal

No sooner had disgraced Hanwha Group chairman Kim Seung-youn finished his community service sentence for corruption than the conglomerate announced it is buying four chemical and defense firms from the Samsung Group for W1.9 trillion (US$1=W1,108).

Hanwha will acquire a 32.4 percent stake in Samsung Techwin, which in turn owns a 50-percent stake in Samsung Thales, a joint venture with French arms manufacturer Thales International.

Hanwha Chemical and Hanwha Energy will buy a 57.6 percent stake in Samsung General Chemicals, which also has a 50-percent stake in Samsung Total Petrochemicals, a joint venture with the French oil company Total.

The deal, Korea's biggest since the 1998 Asian financial crisis, makes Hanwha Group the country's ninth-largest conglomerate with assets totaling W50 trillion.

Hanwha has promised to keep on all 8,200 current Samsung workers, but whether the tainted conglomerate can keep the pledge remains to be seen.

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Hanwha Chief Goes Back to Work with Massive Deal

No sooner had disgraced Hanwha Group chairman Kim Seung-youn finished his community service sentence for corruption than the conglomerate announced it is buying four chemical and defense firms from the Samsung Group for W1.9 trillion (US$1=W1,108).

Hanwha will acquire a 32.4 percent stake in Samsung Techwin, which in turn owns a 50-percent stake in Samsung Thales, a joint venture with French arms manufacturer Thales International.

Hanwha Chemical and Hanwha Energy will buy a 57.6 percent stake in Samsung General Chemicals, which also has a 50-percent stake in Samsung Total Petrochemicals, a joint venture with the French oil company Total.

The deal, Korea's biggest since the 1998 Asian financial crisis, makes Hanwha Group the country's ninth-largest conglomerate with assets totaling W50 trillion.

Hanwha has promised to keep on all 8,200 current Samsung workers, but whether the tainted conglomerate can keep the pledge remains to be seen.

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U.S. Defense Chief Resigns

U.S. Defense Secretary Chuck Hagel has resigned after nearly two years in the position.

President Barack Obama, speaking Monday at the White House with Hagel and Vice President Joe Biden at his side, said the defense secretary told him last month that it was time for him to complete his service.

Obama called Hagel a "steady hand" in helping his administration respond to the challenges of Ebola and Islamic State.

The president described Hagel as "no ordinary defense secretary" and said he has devoted himself to the United States' national security and its men and women in uniform for decades.

Hagel was the only Republican in Obama's Cabinet. He said serving as defense secretary was the "biggest privilege of my life." Hagel said he will remain in his position until his successor is confirmed.

He said that during his time as secretary, the defense department has "set the nation on a stronger course toward stability and prosperity."

U.S. President Barack Obama and Vice President Joe Biden (right) applaud Defense Secretary Chuck Hagel after the president announced Hagel's resignaton at the White House in Washington on Nov. 24, 2014. /Reuters

The New York Times, citing senior administration officials, first reported Monday that the resignation comes "under pressure" amid several foreign policy crises, including the ongoing battle against the Islamic State militant group in Syria and Iraq.

But the White House says the decision to leave the Cabinet was mutual.

"The decision that was announced today is the result of conversations that the president and the secretary have been having for more than a month now," said White House spokesman Josh Earnest. "And as a result of these conversations the two of them arrived together at the determination that new leadership should take over at the Pentagon."

Hagel is the first Cabinet member to leave office since the Republicans won the Senate earlier this month, giving the party full control of Congress in January.

Hagel was sworn in as defense secretary in February 2013, succeeding Leon Panetta.

The Army veteran served in Vietnam before working in the public and private sectors. He was elected senator in 1996, representing the state of Nebraska as a Republican until 2009.

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Ex-National Geographic photo chief Gilka dead at 96

(Reuters) - Robert Gilka, director of photography for National Geographic magazine for 22 years and a mentor to leading photojournalists, died on Tuesday at age 96, the National Press Photographers Association said.

He died in hospice care in Arlington, Virginia, following his third case of pneumonia this year, the NPPA said, citing photojournalist Bruce Dale.

"There is laughter and there are tears because Bob touched so many lives in remarkable ways," Chris Johns, National Geographic's editor in chief, told News Photographer magazine. "He encouraged us, set standards of excellence and instilled in us the desire to become better photographers and editors."

Many photographers considered him a legend for how he ran the photo operation at magazine renowned for its spectacular images.

In 2006, the Alexia Foundation, which promotes photojournalism, honored him with a lifetime achievement award.

Gilka was head of the Milwaukee Journal's picture desk starting in 1952 and joined the staff of National Geographic in 1958 as a picture editor, the NPPA said. He was named photography director in 1963 and retired from National Geographic in 1985.

After leaving the magazine, he was an adjunct professor of photojournalism at Syracuse University until 1992, the NPPA said.

(Reporting by Daniel Trotta in New York; Editing by Mohammad Zargham)

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Ex-National Geographic photo chief Gilka dead at 96

(Reuters) - Robert Gilka, director of photography for National Geographic magazine for 22 years and a mentor to leading photojournalists, died on Tuesday at age 96, the National Press Photographers Association said.

He died in hospice care in Arlington, Virginia, following his third case of pneumonia this year, the NPPA said, citing photojournalist Bruce Dale.

"There is laughter and there are tears because Bob touched so many lives in remarkable ways," Chris Johns, National Geographic's editor in chief, told News Photographer magazine. "He encouraged us, set standards of excellence and instilled in us the desire to become better photographers and editors."

Many photographers considered him a legend for how he ran the photo operation at magazine renowned for its spectacular images.

In 2006, the Alexia Foundation, which promotes photojournalism, honored him with a lifetime achievement award.

Gilka was head of the Milwaukee Journal's picture desk starting in 1952 and joined the staff of National Geographic in 1958 as a picture editor, the NPPA said. He was named photography director in 1963 and retired from National Geographic in 1985.

After leaving the magazine, he was an adjunct professor of photojournalism at Syracuse University until 1992, the NPPA said.

(Reporting by Daniel Trotta in New York; Editing by Mohammad Zargham)

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Dan Abrams to Anchor 'Nightline'; Terry Moran Becomes ABC Chief Foreign Correspondent

By Sara Morrison

LOS ANGELES (TheWrap.com) - Dan Abrams has been named "Nightline" anchor and chief legal affairs anchor, ABC News president Ben Sherwood announced Tuesday.

He replaces Terry Moran on the late-night magazine show; Moran will become ABC News' London-based anchor and chief foreign correspondent.

Abrams joined ABC in 2011 as a legal analyst and substitute "Good Morning America" anchor after several years in various positions at NBC. In 2009, he founded Abrams Media, which publishes sites such as Mediaite and Gossip Cop. He will step down as Abrams Media CEO to devote more time to his new position at ABC, ABC said. He will also have an expanded role at "GMA" and appear on "The Lookout."

Moran, will move to London "later this summer," according to ABC, bringing his time as "Nightline" co-anchor, which began in 2005, to an end.

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Dan Abrams to Anchor 'Nightline'; Terry Moran Becomes ABC Chief Foreign Correspondent

By Sara Morrison

LOS ANGELES (TheWrap.com) - Dan Abrams has been named "Nightline" anchor and chief legal affairs anchor, ABC News president Ben Sherwood announced Tuesday.

He replaces Terry Moran on the late-night magazine show; Moran will become ABC News' London-based anchor and chief foreign correspondent.

Abrams joined ABC in 2011 as a legal analyst and substitute "Good Morning America" anchor after several years in various positions at NBC. In 2009, he founded Abrams Media, which publishes sites such as Mediaite and Gossip Cop. He will step down as Abrams Media CEO to devote more time to his new position at ABC, ABC said. He will also have an expanded role at "GMA" and appear on "The Lookout."

Moran, will move to London "later this summer," according to ABC, bringing his time as "Nightline" co-anchor, which began in 2005, to an end.

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