Battle of the giants

Article Abstract:

The South Korean government's maintenance of arbitrary tax policies leaves industrial companies vulnerable to political manipulation. On Apr 9, 1992, four Hyundai Corp (HC) executives were arrested on alleged tax evasion, embezzlement and pollution violations, an act perceived as a government tactic to weaken financing for HC founder Chung Ju Yung's presidential bid, whose Unification National Party (UNP) won 31 seats in the National Assembly in Mar 1992. Chung had formed the UNP in retaliation after the government levied HC US$172.4 million in back taxes and penalties in 1991.

Taxation, Conglomerate corporations, Tax policy

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The price of pique

Article Abstract:

Hyundai Corp founder Chung Yu Jung's political assault on South Korean Pres Roh Tae Woo through his entry into South Korean politics has posed problems for Hyundai. Chung's bid for the presidency has created unease among financial lenders regarding the management of the manufacturing conglomerate. Hyundai is now faced with the challenge of reorganization under the leadership of Chung's young brother, Chung Se.

Management, Evaluation, Holding companies, Roh Tae Woo

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Leaving the club

Article Abstract:

The presidential ambitions of Hyundai Corp founder Chung Ju Yung threatens to alter South Korea's traditional government-business relationship. His parliamentary success also debunks the notion that South Koreans want businessmen to avoid politics completely. However, Chung's critics contend that his involvement in politics would make the country a hostage to special interests.

Presidential candidates, Industrial policy

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