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Economy

South Korea's Moon turns pension service into chaebol watchdog

Avoiding direct fight, president enlists nation's top investor to spur reform

South Korean President Moon Jae-in has vowed to use the national pension fund to hold the chaebol "accountable."   © Reuters

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.

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