Given the recent history of its chairman Kim Seong-yeon and his “unique” crisis management skills (let alone his skills in determining what IS a crisis), I find amusing the consternation of a Hanwha spokesperson on being assigned one of Fortune magazine’s least admired companies in the world:
“We can hardly understand this article, which lacked the basic requirements for a survey,’’ a group spokesman said. “We have been improving continuously in terms of most criteria. So, we are trying to get some explanation from the magazine.’’
Boy, I would hate to be the editor of Fortune when Hanwha visits to “explain” their side.
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“Boy, I would hate to be the editor of Fortune when Hanwha visits to “explain” their side.”
Lol! By the way, for some reason it sounds like something Ben from LOST would say
That sounds like they satisfied the basic requirements for a survey and then some.
Dram: Good one!
Well, given the vast disconnect between my thoughts and those of Koreans I’ve talked to about this I can see the incredulity on the part of the PR team, as the average Korean doesn’t care if the head of a chaebol is a crook — “they all are” — and there’s no distinction in attitudes toward white collar vs. violent crime (at least in this case).
Good, Hanwha’s rating is well earned.
Agreed
I was reading this article yesterday and felt something missing, but couldn’t make the connection. Then as soon as I read the headline of this post, I realized what the connection I was trying to make. Funny post.
Hanwho?
Oh… _That_ Hanwha.
“President Seung-yeon Kim and his second son, Dong Won Kim, a junior at Yale, are under police investigation for a retaliatory assault, battery and kidnapping charges. Dong Won Kim got into a scuffle with a group of bar employees. Dong Won Kim was pushed down the stairs by one of the bar employees, resulting in a cut above the eye when he fell. Allegedly Seung Yeon Kim and the security team of Hanwha abducted those who were involved in conflict with his son and took them to an undisclosed location. There, he and his men severely beat the bar workers with metal pipes and battered them continually with fists and kicks. The South Korean police are investigating this matter, but they are encountering much trouble in finding evidence of the crime due to lapsed time. Some of the victims refused to testify in fear of further retaliation by Seung Yeon Kim.
The legal representation for Seung Yeon Kim is the in-house council of Hanwha Corporation. Blurring the line between business and personal matter is common in Korea, as many Korean corporations are treated by the chaebol(chairmans of large companies, including Kim Seung Yeon) like a sole proprietorship. This incident tarnished the image of Hanwha as the conglomerate announced an aggressive corporate image makeover earlier in the year.
On July 1, 2007, Seung-yeon Kim was sentenced to 18 months in prison. He plans to appeal.”
Nevermind.
Most foreign residents wouldn’t be able to name a single product Hanwha makes without thinking for a few seconds, and some of us have been in Korea for quite a long time. That should put things in perspective for them.
My office is in Hanwha’s headquarters building. Unlike last year when the chairman was in legal trouble, I’ve not heard any talk about this in the halls, elevators or bathrooms. Either people don’t know (unlikely) or they don’t want to talk about it. Given the chairman’s proclivity toward violence, I’d say that’s probably a smart move on their part.