South Korean President Moon Jae-in won election last May with a pledge to break the collusive relationship between the government and the chaebol, the country's family-controlled conglomerates. The stage was set for his victory with the impeachment of his predecessor, Park Geun-hye, as a result of what the general public saw as cozy ties taken too far.
For decades, South Koreans accepted close links between the government and the chaebol as a necessary evil of the country's export model. Through policy lending and numerous subsidies, the government helped manufacturers bring export revenues into the domestic economy, creating jobs and spurring consumption.
