> Most large Korean companies are family-owned or family-controlled, and most are corrupt. An unusually high percentage of the heads of these companies have cri

> Most large Korean companies are family-owned or family-controlled, and most are corrupt. An unusually high percentage of the heads of these companies have criminal records for financial crimes, compared to other developed economies. > Presidents of South Korea have often justified their pardons of criminal CEOs by stressing the consequences for the economy. Fortunately, those excuses are less widely accepted than they used to be. FWIW, similar justifications were brought out when HSBC was caught laundering drug-money, when LIBOR was found to be manipulated etc.