ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

Moon's chance to tame the chaebol

President can act even though South Korea's parliament is divided

| South Korea

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.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more