The will to fail: South Korea versus its chaebol

Article Abstract:

South Korea's insistence on political control of its major companies is creating an increasingly awkward and untenable situation for a nation with global aspirations. Pres Kim Young Sam must find a way to let businesses compete openly rather than through political connections. Further regulation is no solution. In the early 1990s the receipts of the top 10 chaebol made up 77% of the gross national product. Their unhealthy dominance, which bureaucrats decry, is of bureaucratic making.

Editorial, Political aspects, Industry regulations, Government regulation of business, Trade regulation

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Inflation-fighter ousted

Article Abstract:

South Korean cantral bank governor Cho Soon was ousted from office due to his refusal to lower government-regulated interest rates specially when Kim Young Sam was running for president. This raised the ire of the cabinet members and the rest of Kim'sadministration. Along with economic adviser Park Jae Yun, most of them believe that economic revival is foremost to fighting inflation.

Korea, South, Cho Soon

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