“Samsung Rising” goes deep on corruption, chaebols, and corporate chaos

Not who you're responding to, but for just one possible reason look at Lee Jae-Yong. He's the head of Samsung and was arrested in 2017 for bribery, embezzlement, etc. Chaebols (name for families that run these mega-companies) are both respected for success and disliked for corruption as I understand it.

While there are these mega-companies in RoK and Japan that have especially "close" relationships with governments, I don't think it's that dissimilar from the revolving door of lobbyists/board members/politicians in the US. Citizens in the US are similarly critical of corruption at this level in pharma, tobacco, military, etc.

At the same time, these companies are all responsible to varying degrees for the success of the economy and first-world lifestyle in the US, Japan, RoK. So you can't just want them not to exist either.

Other well-known companies run by the Lee family include CJ and Shinsegae.

CJ is the largest producer of sugar and flour in Korea, and they also sell every kind of processed and frozen foods. They also own the largest courier service in Korea, the largest cinema chain and film studio, several restaurant and coffee brands, a chain of cosmetics stores, biomedical services, and a dozen cable channels. They literally supply the whole country with both panem and circenses, and they deliver to your doorstep. It's vertical integration at its finest.

Shinsegae is a retail giant. They own a chain of department stores as well as the e-mart shopping mall. The latter has sprouted its own chain of Costco-like discount stores and convenience stores.

If you ever wondered who owns the "CU" brand of convenience stores that are ubiquitous in Korea, they are in-laws of the founder of Samsung. The same family owns the JoongAng Ilbo newspaper, which together with the JTBC news channel comprise the second largest media conglomerate after CJ. Oh, and they also own the third largest cinema chain in Korea.

The Lee family is also into furniture, paper, you name it. They used to make cars and planes, too.

All these companies aren't always on friendly terms with one another, as some of them have split from Samsung decades ago and compete with one another. But together they control such a huge portion of the country's commerce, news, and entertainment that the phrase "Republic of Samsung" comes up whenever a member of the Lee family is accused of wrongdoing.

> with Huawei's CFO being the niece of the founder (who is PLA.)

I believe she's not the niece, but the daughter? I only know this because this was big news in Canada.

Keiretsu-type groups that do everything in-house can prevent whole business sectors from emerging.

In Japan the relative lack of independent software companies have been attributed to Keiretsu structure. Software development was just in-house activity to serve established product divisions. It was not seen as business to be sold independently. For example, Toyota made whole integrated CAD/CAM/CAE system called 'TOGO' in the late 90s.

As a result Japan has been mostly no-show in software business outside console games. Software they develop is sold inside hardware.

1. Lobbying

Bribery (Korea) | Lobbyist (US)

S. Korea has no concept called lobbyist. Definitely no official lobbying firms exist. So when a company or trade association wants something, it inevitably turns into something like bribery.

2. Dollar and oil

Won (Korea) | Dollar (US)

To be able to exist as a self determining nation in modern world, you need oil. And you need a lot of oil if you want an industry and provide a decent living standard. And oil is usually sold when buyer pays with with US Dollar. US can just run printing presses harder if more $ is needed. And still keep buying oil with no issue. S. Korea doesn't have such a luxury. And S. Korea has to keep earning $ in order to be able to defend their nation (both physically and to keep out undue influence) from Russia/China/Japan/NorthKorea. And this is why those firms who can bring in more dollars are valued in S. Korea. It's a matter of national survival.

The last time Korea wasn't able to defend itself, the royal family that had been ruling the kingdom for 500+ years were literally tossed out to the street. Empress Myeongseong was killed in court by Japanese backed thugs, and her body was burned and buried unceremoniously.

And the Japanese occupation led to the nation being split in two. A kingdom nation that had existed with same boundary for 500+ years. Much longer than Germany.

And this led to the Korean war, war that brought a civil war to Korea that is probably more devastating comparatively than the Civil War of US.

All because the nation couldn't pay for the things (people, material, technology) needed to defend itself in 1910.

Even the much praised great preparedness against covid-19 in S. Korea was possible because firms brought in $ which meant more tax revenue for the S. Korean govt to use to pay for everything that is needed.