The New Physics sensitivity of the s ---> d gamma transition and its
accessibility through hadronic processes are thoroughly investigated. Firstly,
the Standard Model predictions for the direct CP-violating observables in
radiative K decays are systematically improved. Besides, the magnetic
contribution to epsilon prime is estimated and found subleading, even in the
presence of New Physics, and a new strategy to resolve its electroweak versus
QCD penguin fraction is identified. Secondly, the signatures of a series of New
Physics scenarios, characterized as model-independently as possible in terms of
their underlying dynamics, are investigated by combining the information from
all the FCNC transitions in the s ---> d sector.Comment: 54 pages, 14 eps figure