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Even if it was a puppet state, apparently Samsung is above the law there. They are like 70% of its GDP.
by jiggunjer 9y ago
Even if it was a puppet state, apparently Samsung is above the law there. They are like 70% of its GDP.
- Clubber 9y ago1/5th of exports, 17% of GDP. https://en.wikipedia.org/wiki/Samsung https://en.wikipedia.org/wiki/Samsung
- jiggunjer 9y agoI stand corrected. I shouldn't try to pull statistics from my failing memory anymore. Still big enough to intimidate a government from messing with them.
- praneshp 9y ago> Still big enough to intimidate a government from messing with them Nope, per recent incidents.
- kurthr 9y agoUm, well Samsung's president hass been released from jail, but the countrie's last president hasn't... http://fortune.com/2018/02/05/samsung-j-y-lee-released-south-korea/ http://fortune.com/2018/02/05/samsung-j-y-lee-released-south... I'd say that is a LOT of influence.
- praneshp 9y agoReleased from jail necessarily implies the government will "mess" with them.
- jiggunjer 9y agoAn important Samsung person was arrested and promptly released. That is not how a government messes with a company. Tax. Regulations. Things that hurt the bottom line constitute 'messing'.
- malloryerik 9y agoYou're thinking of all of the chaebol/conglomerate companies combined, so Samsung, LG, Hyundae Kia, Posco, Hyundae Heavy Industries, SK Group, CS Group, Lotte, Hanhwa, Hanjin, Kumho Asiana, Doosan, etc., each of which have multiply companies in their portfolios and are serviced by groups of smaller local firms specialized in support for one or a few of the big ships. But, do they feel above the law? This is certainly a common complaint of South Koreans. These groups are definitely "too big to fail" and they know it. So yes the concentration of power in a few giant firms is remarkable, and not in a good way.