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Lolumo t1_iww15qz wrote

Samsung and the South Korean government are the same thing, in some ways

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mEllowMystic t1_iwx37yz wrote

The government is at best just one of its divisions.

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torx822 t1_iwx8xr7 wrote

Wendover Productions just did a video about Samsung a few days ago on YouTube. Highly suggest checking it out.

I’d post a link but laziness

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absolutelyshafted t1_iwxi4h9 wrote

Yep. Cheaebols are essentially massive industrial conglomerates which also have very strong presence in the government

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matty_low t1_iwxym4l wrote

So basically a state-run company?

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MrCowBells t1_iwxz3k1 wrote

State-run company would be more like socialism/Communism. The idea of the Chaebols is more like oligarchy of several different (sometimes intertwined via marriage) family run conglomerates.

So more like company-run state?

It's changing a little but it's a very slow change. I think Samsung recently toyed with the idea of putting a non-family member in charge for a bit and then backed out.

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dishonourableaccount t1_iwy1emi wrote

Imagine a European noble family saw the winds of change coming, and prior to getting merged into a larger empire or ousted in a revolution, decided to just get into business. Or imagine the Rockefellers, Fords, and Waltons on steroids (and lasting centuries instead of fizzling into nothing in 3 generations or so).

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dmthoth t1_ixldqou wrote

Yeah exactly. If you ask any actual economist who knows about east asian economic systems, they would say so. But ignorant basic redditors have this strange 80s/90s dystopian cyberpunk wet dream(mostly based on anti-asian stereotype) and want to depict east asain countries the way how mainstream western media have been for decades. So it is basically a meme.

South korea had economy driven by government until asian financial crisis in 1997. Chaebol was born by dictator general park in 60s/70s to micro-mange every indistrial sectors/trading goods and boost investment when south korea did not have much manufacturing industry back then. The entry to each industrial sectors was ristricted for only 2-3 chaebols to promote competition and they were never allowed to own bank(they are still not allowed by the laws) but government mainly used carrot and stick policy. For that reason they are definately not immune to conviction for corruption or embezzlement etc. South korean justice system naver hesitated to send chaebol to prison. However in many cases they got lesser sentences or received pardon when they make a deal with the government. For example, samsung CEO Lee got his pardon right after he made a deal to build semi-conductor factory in the US. And government never allows them to pay less taxes. South korea is still one of the countries with highest corporation tax rate.

Many south koreans hates chaebols because they are exploiting their employees & subcontractor and decepting consumers, not because they are in charge on nation, as many people on reddit want to believe. And that kind of shit happens all over the globe. What kind of country ran by private corporation has single-payer universial healthcare, mandatory paid leave(parenting, sick, vacation), national pension program, unemployment benefits, child benefits, basic income, etc etc? What does it make the US?

What happens if one of chaebol want to get out of leash? Well, look what happend to Chung Mong-hun, the founder of Hyundai group.

The most poweful and influencial interest group in south korea is actually the prosecutory authority. And current conservative president is one of them.

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MadMattt t1_iwwawdf wrote

What was it called, the Council of Fairies?

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dmthoth t1_ixlbshe wrote

This BS again? Historically, hyundai had more connections with beuarocratic government especially when it comes to north korean policy. Samsung never has been a 'traditional' partner. Btw former hyundai CEO killed himself because government pushed him to do so. And samsung ceo went to jail because the government wanted to do so. Whtat kind of puppet government does that? Americna/european on Reddit and youtube should stop with their 80s & 90s distopian cyberpunk wet dream fantasy, just because they are lazy as fuck and never look into actual sources. They just reproduce and spread their existing prejudice over and over again.

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Lolumo t1_ixlcbyx wrote

Hyundai, LG and Samsung are all different variations of the same playbook. I won't call any of them any better.

The Samsung CEO was released from jail and pardoned because apparently he is the best person to head the company, name another normal country where such a thing would happen.

America and Europe are no better, but that doesn't make Korea not bad. In fact, what is happening in Korea is just an exaggeration of the corporate west.

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dmthoth t1_ixlf75q wrote

I did not say south korea is good. All I am saying is 'company-run-state' kind of thing is pure echoroom fantasy. There is no significant exaggeration either. South korean companies actually do pay taxes and government provides social safe nets by demand of people, such as single-payer universial healthcare, mandatory paid leave for both parents, for sick and for vacation, national pension service, basic income, unemplyment benefit, child benefit, state-run-nursery etc etc. corrupt politicians get actual impeachment and imprisonment. South Koreans went through a lot of shit in modern history. Even after korean war, four seperate regimes were overthrown by people. They obviously have rebellious nature in their blood, contrast to depiction of western mainstream media, which want to paint all east asians as submissive and mindless. It is just an usual ordinary country, or a socialist country if you compare to the US.

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