By Emerging Money:
By Sean Geary
As a result of outperformance from the country's conglomerates, the South Korean economy (EWY) has performed strongly in spite of turmoil in global financial markets. As the country's presidential election nears, the increased focus on struggling small businesses could be bullish for the long-term prospects of the South Korean economy.
BUSAN, South Korea (Reuters) - In a cram school in the South Korean port city of Busan, 70 college students packed into a classroom, chanting "We can do it!" as they studied for an exam they hope will guarantee them a job for life with Samsung Group.
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What are Chaebols?
SEOUL — The Korean Air Lines executive who delayed a flight in an incident dubbed “nut rage” bowed deep in apology Friday before facing questioning by transport officials. Her father, the airline’s chairman, also apologized and said he regrets he did not raise her better.
The apologies came in response to simmering public anger about the incident and the airline’s handling of it.
Seoul (AFP) - The daughter of Korean Air's chairman was jailed for one year Thursday over a now notorious on-board "nut rage" incident that triggered an uproar over the behaviour of South Korea's elite business families.
SEOUL (Reuters) - South Korea's president-elect asked the leaders of the country's big businesses, or chaebol, on Wednesday to think twice before cutting jobs, saying it was time for the conglomerates her father helped build four decades ago to look beyond profits.
South Korea's president-elect asked the leaders of the country's big businesses, or chaebol, on Wednesday to think twice before cutting jobs, saying it was time for the conglomerates her father helped ...
South Korea's presidential election campaign has highlighted discontent with the family-controlled industrial conglomerates that dominate the country's economic life. The two main candidates promise a tougher line but neither is likely to tinker too much with a model that transformed South Korea into a global business power.