Son Heung-min applauds the fans after South Korea's defeat to Brazil in the World Cup last 16. AP
Son Heung-min applauds the fans after South Korea's defeat to Brazil in the World Cup last 16. AP
Son Heung-min applauds the fans after South Korea's defeat to Brazil in the World Cup last 16. AP
Son Heung-min applauds the fans after South Korea's defeat to Brazil in the World Cup last 16. AP

Son Heung-min sorry to South Korea fans for 'not living up to expectations' at World Cup


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South Korea captain Son Heung-min has apologised to the national team's fans for “not living up to their expectations” after exiting the World Cup at the last 16 stage on Monday night.

South Korea were soundly beaten 4-1 by Brazil at Stadium 974 in Doha, with all four Brazilian goals coming in the first half. The Asian team were much improved in the second half and Paik Seung-ho scored a 76th-minute consolation but the damage had already been done.

South Korea have still never won a World Cup knockout tie outside of their home country, where they reached the quarter-finals in 2002.

“I can only apologise to our fans for not living up to their expectations,” said 30-year-old Tottenham forward Son, who played in a mask in Qatar following facial surgery last month.

“We did our best but I think we played a very difficult game. Still, there is no doubt that all the players battled proudly, devoted themselves and worked hard to get this far.

“The players and staff really did their best to prepare for this match, so I hope you understand.”

Brazil v South Korea player ratings

  • BRAZIL RATINGS: Alisson Becker - 9: Super diving save after 16 minutes – and that was all in a one-sided first half. Another top save with his left shoulder straight after half time. And a third top save after 69. Finally beaten by a deflection for South Korea’s goal. One of the best goalkeepers in the world. Getty
    BRAZIL RATINGS: Alisson Becker - 9: Super diving save after 16 minutes – and that was all in a one-sided first half. Another top save with his left shoulder straight after half time. And a third top save after 69. Finally beaten by a deflection for South Korea’s goal. One of the best goalkeepers in the world. Getty
  • Eder Militao - 7. Brought off as a precaution since another yellow would have meant he missed the next game. Solid. AFP
    Eder Militao - 7. Brought off as a precaution since another yellow would have meant he missed the next game. Solid. AFP
  • Marquinhos - 7. Really hard-working. Quick reaction to pass in the set-up for the third. He was in the South Korea area at the time. He and Thiago Silva are central defenders. AP
    Marquinhos - 7. Really hard-working. Quick reaction to pass in the set-up for the third. He was in the South Korea area at the time. He and Thiago Silva are central defenders. AP
  • Thiago Silva - 8. Sublime pass for the third. He was in an attacking position as he became, at 38, the oldest player to assist in this World Cup. Hit long balls and intercepted. The shot for South Korea’s goal deflected off him. Getty
    Thiago Silva - 8. Sublime pass for the third. He was in an attacking position as he became, at 38, the oldest player to assist in this World Cup. Hit long balls and intercepted. The shot for South Korea’s goal deflected off him. Getty
  • Danilo - 7. Enjoying his football and one of many brilliant Brazilians in the first half in front of 43,847. South Korea were totally overawed. Croatia will be tougher opponents in the last eight. Reuters
    Danilo - 7. Enjoying his football and one of many brilliant Brazilians in the first half in front of 43,847. South Korea were totally overawed. Croatia will be tougher opponents in the last eight. Reuters
  • Casemiro - 8. His ball to Paqueta started the move for the third. Screened the back four. Neymar recently said: “Casemiro has been the best midfielder in the world for a long time.” We’re seeing why in this tournament. No goals, no assists, no brilliant Brazil without him. AFP
    Casemiro - 8. His ball to Paqueta started the move for the third. Screened the back four. Neymar recently said: “Casemiro has been the best midfielder in the world for a long time.” We’re seeing why in this tournament. No goals, no assists, no brilliant Brazil without him. AFP
  • Paqueta - 9. Chosen ahead of Fred, the West Ham midfielder was involved in the third and scored the fourth, his first goal in the World Cup finals. Defended well when needed. Made three key passes. Getty
    Paqueta - 9. Chosen ahead of Fred, the West Ham midfielder was involved in the third and scored the fourth, his first goal in the World Cup finals. Defended well when needed. Made three key passes. Getty
  • Raphinha - 8. Blitzed Hwang In-beom on the right before playing a ball towards Neymar after 7. He missed but Vinicius was waiting for it. Missed a chance on 45 when he should have gone for the ball with his head. Always a danger on the right and should have scored from one of his five shots, but his best game yet for his country. Getty
    Raphinha - 8. Blitzed Hwang In-beom on the right before playing a ball towards Neymar after 7. He missed but Vinicius was waiting for it. Missed a chance on 45 when he should have gone for the ball with his head. Always a danger on the right and should have scored from one of his five shots, but his best game yet for his country. Getty
  • Neymar - 8. Back with a bang. Placed the second, a 13th-minute penalty, after teasing the goalkeeper Kim Seung-gyu in his run up, waiting until he’d fallen to his knees before taking his shot. His 76th goal for Brazil – only one behind Pele’s record. Worked hard throughout. AFP
    Neymar - 8. Back with a bang. Placed the second, a 13th-minute penalty, after teasing the goalkeeper Kim Seung-gyu in his run up, waiting until he’d fallen to his knees before taking his shot. His 76th goal for Brazil – only one behind Pele’s record. Worked hard throughout. AFP
  • Vinicius - 8. Beautiful finish after stopping a ball from Raphinha to put Brazil ahead. Lifted a ball to Paqueta to score the fourth – the first time Brazil have scored four in the first half of a World Cup match since 1954. EPA
    Vinicius - 8. Beautiful finish after stopping a ball from Raphinha to put Brazil ahead. Lifted a ball to Paqueta to score the fourth – the first time Brazil have scored four in the first half of a World Cup match since 1954. EPA
  • Richarlison - 9. Won the early penalty after being kicked. Scored the third after 29. He’s doing enough to be a first-choice starter in the team who are favourites to win the World Cup. Getty
    Richarlison - 9. Won the early penalty after being kicked. Scored the third after 29. He’s doing enough to be a first-choice starter in the team who are favourites to win the World Cup. Getty
  • SUBS: Dani Alves (On for Militao 63') - 7. Brazil’s most decorated player was fine, aged 39. Brings experience and good vibes. Volleyed wide. Getty
    SUBS: Dani Alves (On for Militao 63') - 7. Brazil’s most decorated player was fine, aged 39. Brings experience and good vibes. Volleyed wide. Getty
  • Gabriel Martinelli (On for Vinicius Junior 72') - 6. Going to be hard for him to get into the starting XI. Reuters
    Gabriel Martinelli (On for Vinicius Junior 72') - 6. Going to be hard for him to get into the starting XI. Reuters
  • Bremer (On for Danilo 72') - 6. Another good use of his squad by coach as all five substitutes were used. Getty
    Bremer (On for Danilo 72') - 6. Another good use of his squad by coach as all five substitutes were used. Getty
  • Weverton (On for Alisson 80') - 6. Brazil’s third-choice goalkeeper was the final player of the squad to get minutes in this World Cup. All 26 have now played. AP
    Weverton (On for Alisson 80') - 6. Brazil’s third-choice goalkeeper was the final player of the squad to get minutes in this World Cup. All 26 have now played. AP
  • Rodrygo (On for Neymar 81') N/A. Shows the incredible strength in depth for this Brazil side. Reuters
    Rodrygo (On for Neymar 81') N/A. Shows the incredible strength in depth for this Brazil side. Reuters
  • SOUTH KOREA RATINGS: Kim Seung-gyu - 4. The first two goals were particularly cringeworthy for the keeper but aside from that, he did manage to make a handful of strong saves. AFP
    SOUTH KOREA RATINGS: Kim Seung-gyu - 4. The first two goals were particularly cringeworthy for the keeper but aside from that, he did manage to make a handful of strong saves. AFP
  • Kim Moon-hwan - 4. Was left watching for the third goal and often looked panicky whenever the ball came near his orbit. Getty
    Kim Moon-hwan - 4. Was left watching for the third goal and often looked panicky whenever the ball came near his orbit. Getty
  • Kim Min-jae - 4. The kindest word for his display would be ‘slow’ as he failed to keep up with the tempo he was being presented with. AP
    Kim Min-jae - 4. The kindest word for his display would be ‘slow’ as he failed to keep up with the tempo he was being presented with. AP
  • Kim Young-gwon - 5. Went missing on several occasions despite some good distribution across the first half hour or so. EPA
    Kim Young-gwon - 5. Went missing on several occasions despite some good distribution across the first half hour or so. EPA
  • Kim Jin-su - 4. Made a poorly timed challenge for the opener before being lost at sea for two of the remaining Brazilian goals. EPA
    Kim Jin-su - 4. Made a poorly timed challenge for the opener before being lost at sea for two of the remaining Brazilian goals. EPA
  • Lee Jae-sung - 5. Got forward well despite taking a bit too much time to make a final decision when faced with opponents. AP
    Lee Jae-sung - 5. Got forward well despite taking a bit too much time to make a final decision when faced with opponents. AP
  • Jung Woo-young - 4. Between a terribly timed tackle for the penalty and a lethargic attitude for the fourth, it was a poor day at the office for Jung. AP
    Jung Woo-young - 4. Between a terribly timed tackle for the penalty and a lethargic attitude for the fourth, it was a poor day at the office for Jung. AP
  • Hwang In-beom - 4. Looked weak under pressure from Richarlison and couldn’t get going in the middle of the park. AFP
    Hwang In-beom - 4. Looked weak under pressure from Richarlison and couldn’t get going in the middle of the park. AFP
  • Hwang Hee-chan - 7. An inspiring performance from the Wolves’ star forward with a string of big chances to go alongside his fantastic work rate. AP
    Hwang Hee-chan - 7. An inspiring performance from the Wolves’ star forward with a string of big chances to go alongside his fantastic work rate. AP
  • Cho Gue-sung - 5. Struggled and wasn’t really able to use his height and physicality to his advantage. AFP
    Cho Gue-sung - 5. Struggled and wasn’t really able to use his height and physicality to his advantage. AFP
  • Son Heung-min - 6. The talisman got stuck in and did the best he could under difficult circumstances against the juggernaut of Brazil. EPA
    Son Heung-min - 6. The talisman got stuck in and did the best he could under difficult circumstances against the juggernaut of Brazil. EPA
  • SUBS: Hong Chul (On for Kim 46') - 5: While he tracked his man well upon coming on, Chul was sent for a ride many times when in one-on-one situations. AFP
    SUBS: Hong Chul (On for Kim 46') - 5: While he tracked his man well upon coming on, Chul was sent for a ride many times when in one-on-one situations. AFP
  • Son Jun-ho (On for Jung 46') - 6. Although he was slow to work up to the pace of the game, Son was still effective when entering the final third. Getty
    Son Jun-ho (On for Jung 46') - 6. Although he was slow to work up to the pace of the game, Son was still effective when entering the final third. Getty
  • Paik Seung-ho (On for Hwang 65') - 7. Fine strike earned deserved consolation goal for his side. AFP
    Paik Seung-ho (On for Hwang 65') - 7. Fine strike earned deserved consolation goal for his side. AFP
  • Lee Kang-in (On for Lee 74') - 6. A decent ball that, technically, led to an assist for the goal added up to a solid enough cameo for Lee. Reuters
    Lee Kang-in (On for Lee 74') - 6. A decent ball that, technically, led to an assist for the goal added up to a solid enough cameo for Lee. Reuters
  • Hwang Ui-jo (On for Cho 80') - N/A. PA
    Hwang Ui-jo (On for Cho 80') - N/A. PA

South Korea manager Paulo Bento announced in the immediate aftermath of the defeat that he would not be staying on, a decision he said was made in September. The 53-year-old former Portugal international had been in charge since 2018.

Son failed to score at the tournament and showed only fleeting glimpses of his best form, but it was his excellent assist which led to Korea's last-gasp winner against Portugal and ensured their place in the knockouts.

“I never once had any doubt about the style of football he pursued,” Son told Korean media in a reference to critics, who said Bento was too cautious at times.

“A lot of people had reservations about it but they all cheered for us when we played well at the World Cup here. We were able to execute things we'd worked on for the last four years. It's really sad to see him go.”

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

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Who are the Sacklers?

The Sackler family is a transatlantic dynasty that owns Purdue Pharma, which manufactures and markets OxyContin, one of the drugs at the centre of America's opioids crisis. The family is well known for their generous philanthropy towards the world's top cultural institutions, including Guggenheim Museum, the National Portrait Gallery, Tate in Britain, Yale University and the Serpentine Gallery, to name a few. Two branches of the family control Purdue Pharma.

Isaac Sackler and Sophie Greenberg were Jewish immigrants who arrived in New York before the First World War. They had three sons. The first, Arthur, died before OxyContin was invented. The second, Mortimer, who died aged 93 in 2010, was a former chief executive of Purdue Pharma. The third, Raymond, died aged 97 in 2017 and was also a former chief executive of Purdue Pharma. 

It was Arthur, a psychiatrist and pharmaceutical marketeer, who started the family business dynasty. He and his brothers bought a small company called Purdue Frederick; among their first products were laxatives and prescription earwax remover.

Arthur's branch of the family has not been involved in Purdue for many years and his daughter, Elizabeth, has spoken out against it, saying the company's role in America's drugs crisis is "morally abhorrent".

The lawsuits that were brought by the attorneys general of New York and Massachussetts named eight Sacklers. This includes Kathe, Mortimer, Richard, Jonathan and Ilene Sackler Lefcourt, who are all the children of either Mortimer or Raymond. Then there's Theresa Sackler, who is Mortimer senior's widow; Beverly, Raymond's widow; and David Sackler, Raymond's grandson.

Members of the Sackler family are rarely seen in public.

Updated: December 06, 2022, 11:22 AM