South Korea's presidential hopefuls let chaebol off the hook

Front-runners have no plans to stop power abuse by the likes of Samsung and Hyundai

20220303 Chaebol Lee and Yoon

Neither Lee Jae-myung of the governing Democratic Party, left, and Yoon Suk-yeol of the conservative People Power Party have offered solutions to prevent power abuses by South Korea's chaebol. (Source photos by AP, Reuters and Getty Images) 

KIM JAEWON, Nikkei staff writer

SEOUL -- Candidates in South Korean presidential elections usually run with pledges to reform the chaebol -- the powerful family-run conglomerates that dominate the country's economy. But this year, the two front-runners have no such plans to clip the wings of the likes of Samsung, Hyundai Motor, SK and LG.

Lee Jae-myung of the governing Democratic Party vows to make the country one of the world's top five economies, while Yoon Suk-yeol of the conservative People Power Party has pledged to use digital innovation to propel South Korea toward economic superpower status.

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