South Korea's Moon turns pension service into chaebol watchdog

SEOUL -- President Moon Jae-in’s call last month for the National Pension Service to play a more active role in taming the country’s family-run conglomerates, many tainted by allegations of corruption, may not be the most obvious way to force reform on the country's powerful chaebol. But it is a powerful signal that his drive for change is not easing, despite mounting criticism.

South Korea's slowing economy has put Moon in a difficult position. The president needs the chaebol - which control vast tracks of the economy and employment - to invest for growth. So he is reluctant to pick a direct fight with the conglomerates and the families behind them, preferring to use existing rules and tools to spur change.