In his latest column in the Korea Times, Andrew Salmon draws comparisons between North Korea’s Kim dynasty and South Korea’s corporate dynasties:
At the head of some of this nation’s leading conglomerates, royal-style dynasties are as firmly entrenched as the Kims are in Pyongyang and they, too, are now bequeathing power to their third generations.
Seoul’s corporate dynasties certainly act in a manner befitting royalty. They inter-marry and live secretive lives in fortress-like homes guarded by bodyguard detachments.
They rarely appear in public and speak to the media even more rarely; a reporter is more likely to land an interview with a member of de facto European royalty than with a top-tier chaebol chairman. Yet unlike European royals, chaebol royalty have no fear of a muckraking media ― their advertising budgets (allegedly) buy editorial quiescence.
I’m not sure if they’re totally free of muckraking—progressive papers target them all the time. But then again, the progressive press has relatively little influence, so the point still stands.
Read the whole thing on your own.