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Lee Jae-yong: Why South Korea just exonerated the Samsung ‘sovereign’

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‘Octopus’ impact

Lee’s case reaffirms well known origination that business chiefs are distant or more the law.

In Korea, goliath aggregates rule the economy, with the best 10 representing around 80% of GDP. Known as chaebols, they are family-controlled domains which give a range of administrations. LG, Hyundai, Lotte, and SK are among them.

In any case, Samsung is the greatest and generally strong of all.

As the world’s biggest cell phone producer, it’s a worldwide gadgets brand. Yet, at home it does considerably more – clinics, lodgings, protection plans, bulletins, shipyards and even amusement parks.

Samsung and other chaebols are so ubiquitous they’re known as “octopus” firms, says Prof YoonKyung Lee, a political social scientist at the University of Toronto.

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