When it comes to showing the West how things differ in Asian nations, I suppose nothing quite beats electing a military dictator's daughter to power via freely contested polls. But that of course is just what has transpired in prosperous South Korea. And General Park is a rather revered figure for spearheading their nation's rise to the top tier (OECD) of the global pecking order culminating with the hosting of the 1988 Seoul Olympics. Park Chung-hee has set off lots of debate about the merits of authoritarian development that continue to this day. For more on the specifics from an obviously supportive POV, I refer you to my current reference on the subject matter of Korean economic policymaking during the Park era by Kim Chung-yum.
Anyway, back to the subject matter at hand. Public debate in Korea has concerned continued favouritism shown towards large Korean conglomerates known as chaebol. These were of course modelled with a few modifications on Japanese zaibatsu. Despite differences here and there, the criticisms are remarkably similar, too. Because credit and whatnot have been preferentially allocated to these mega-firms, there has not been sufficient development of young, innovative firms. Insofar as alternative SMEs would be more geared towards meeting local tastes and customs, these countries also fail to become less dependent on export markets at a time when the West is, well, kaput. Lee Byong-chul notes how, in the run up to the elections, even mighty Samsung--vanquisher of Sony, highest-rising global brand, and the only real Apple rival--came under sustained criticism:
PS: You may be wondering about the title. There is the oddly routine celebration of Christmas in any number of predominantly non-Christian nations that befuddles Westerners. Go to the lobby of any major international hotel and there will be the inevitably humongous Christmas tree. While their materialistic interpretation centred on gift-giving and a festive atmosphere kind of loses out on the core irony that the saviour of the world was born in a horse's stable, I just wanted to point out that a "lump of coal" is not an entirely foreign idiom. South Korea is rapidly gaining Catholic adherents as well, but I'll keep that idea for another post which will appear near December 25.
Anyway, back to the subject matter at hand. Public debate in Korea has concerned continued favouritism shown towards large Korean conglomerates known as chaebol. These were of course modelled with a few modifications on Japanese zaibatsu. Despite differences here and there, the criticisms are remarkably similar, too. Because credit and whatnot have been preferentially allocated to these mega-firms, there has not been sufficient development of young, innovative firms. Insofar as alternative SMEs would be more geared towards meeting local tastes and customs, these countries also fail to become less dependent on export markets at a time when the West is, well, kaput. Lee Byong-chul notes how, in the run up to the elections, even mighty Samsung--vanquisher of Sony, highest-rising global brand, and the only real Apple rival--came under sustained criticism:
When asked to identify Samsung’s fiercest enemy, most people would name Apple, given ongoing patent lawsuits in various countries. But Samsung, the largest of South Korea’s chaebol (vast, politically connected, family-run conglomerates), has bigger problems at home. In the run-up to the December presidential election, the chaebol have become a target of growing popular anger...
The election came at a sensitive time for Samsung and Hyundai as both are in the process of passing power to a third generation of their family owners, a process that left-wing candidate Moon Jae-in could have complicated with an attack on their shareholdings, had he won. "She doesn't have any plans to alter the structures of the chaebol ownership and their concentration of economic power," said Kim Sang-jo, an economist at Hansung University and executive director of a group urging reform of South Korea's economy...
PS: You may be wondering about the title. There is the oddly routine celebration of Christmas in any number of predominantly non-Christian nations that befuddles Westerners. Go to the lobby of any major international hotel and there will be the inevitably humongous Christmas tree. While their materialistic interpretation centred on gift-giving and a festive atmosphere kind of loses out on the core irony that the saviour of the world was born in a horse's stable, I just wanted to point out that a "lump of coal" is not an entirely foreign idiom. South Korea is rapidly gaining Catholic adherents as well, but I'll keep that idea for another post which will appear near December 25.