A land called Samsung

Published in Die Zeit, 6.6.2019

Koreans sometimes call their country the “Samsung republic.” Samsung, a network of around 70 businesses from all industries, generates revenues of roughly a fifth of South Korea’s economy. This and other conglomerates are so powerful that they are negatively affecting the country economically, politically and even judicially. In his election campaign in 2017, human rights lawyer Moon Jae-in promised to regulate the conglomerates more strongly. But ever since he has been elected president, he has become more subdued. Moon needs big business for his internationally acclaimed appeasement approach towards North Korea. This article is an analysis of the high hurdles to Korea’s crucial structural reforms.

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© SeongJoon Cho/Bloomberg/Getty Images

© SeongJoon Cho/Bloomberg/Getty Images

Koreans sometimes call their country the “Samsung republic.” Samsung, a network of around 70 businesses from all industries, generates revenues of roughly a fifth of South Korea’s economy. This and other conglomerates are so powerful that they are negatively affecting the country economically, politically and even judicially. In his election campaign in 2017, human rights lawyer Moon Jae-in promised to regulate the conglomerates more strongly. But ever since he has been elected president, he has become more subdued. Moon needs big business for his internationally acclaimed appeasement approach towards North Korea. This article is an analysis of the high hurdles to Korea’s crucial structural reforms.

Read it as published in: