#South Korea’s chaebol face reforms

For those that may be interested in the  business side of things.  This article does a good job at describing the current state of affairs.

From the Vancouver Sun: South Korea’s chaebol face reforms.

New president moves slowly to rein in powerful industrial conglomerates that dominate the economy

Most recently, the chaebol have become bloated oligarchies as South Korea has shifted from being a highly equitable society in the 1990s to developing a wealth gap approaching the level where it may threaten social cohesion.

Wow, such political intrigue in #Korea

I have a daily search for Korea emailed to me everyday.  I like to keep up with some current events in the country I am living in.  Especially one that is still technically at war.

One of those news articles that popped up was titled “Rev. Cho exposes S.Korean President‘s scandals, being arrested illegally”

Normally one might be tempted to fluff this off as simply sensational news but there are so many reasons why you shouldn’t.  First, the current president is a female.  Not only is this a first, it is a first in a country where the gender gap in wage is one of the largest in the world!

Source: NY Times

Now if that was all, it would be a pretty big thing but as the late night infomercials are fond of saying “But wait…there’s more!”.  Korea’s new president, Park Geun-hye is the daughter of Park Chung-hee, a Army general and the dictator of South Korea from 1961 to 1979.  There was much more talk about her bid for presidency this time(she has tried before).

Now, let’s add in a society that places an insane amount of importance on saving face, and you have something that cannot be ignored.

So now we have so many firsts and with someone that has so much history attached to her, and now add in an event that someone publically claims so much dishonour and shame to the President, you get rash and swift actions.  If this was another country, I’m sure some sort of “Korean Jihad” would be claimed immediately(kinda like the neighbours to the north).

What was said?  Well, you could read it yourself, but let me summarize for you.

  • Ms.Park had immoral intimacy with Tae-min Choi 15 years.
  • After Tae-min Choi’s death, she had immoral intimacy with Yoon-hoe Chung, a son-in-law of Tae-min Choi 16 years. Ms. Park had two abortions.
  • Yoon-hoe Chung exercises authority by pulling the wires from behind Ms. Park.
  • Ms. Park has used narcotics for many years.
  • Ms. Park went to North Korea to give Jung-il Kim fifty million dollars.  Ms. Park and Jung-il Kim slept together (according to an intelligence of CIA).
  • Ms. Park’s father deposited in a Swiss bank six billion dollars, the price of the blood that Korean soldiers shed in the Vietnam war. The six billion dollars are still in the Swiss bank.

Sure, you might be tempted to write this off as nothing but a rant but given the fact that this guy was arrested ON A LIVE BROADCAST (I’ve jumped ahead to when the police show up for your convenience) and then for none of the legal paperwork for this arrest to actually surface (making the arrest completely illegal apparently) has GOT to get you thinking.  Not only about how true or not true these allegations are but also how much behind Korea really still is as far as freedom of the press is(n’t).

Me, I’m not worried.  I only present events as they happen and are publicly available anywhere online.  This is history in the making!