Successive governments have promised to rein in the power and economic hegemony
of the Korean chaebol, or conglomerates, since the Asian crisis in the late 1990s. But, little has changed to curtail the corporate dominance of Samsung, Hyundai, and other family groups that gained the patronage of Park Chung-hee who ruled the country from 1961 until 1979.
On the other hand, several chaebol bosses have spells in prison for tax avoidance, fraud or embezzlement over the years, arguably to circumvent rules limiting individual shareholders voting power to 3%. Lee Kun Hee 26, chairman of Samsung Electronics is again Korea’s richest person in FinanceAsia's...
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