Korea's conglomerates, known here at the chaebol,... were instrumental in the development of the
Korean economy and will continue to be a source of great economic strength in the future.
But weak corporate governance is something that's been pointed out as a huge risk factor
for Korea's biggest family-owned businesses.
A recent survey highlights that concern: Dr. Kim Byoung-joo joins me live in the studio
for a discussion.
Well, there's obviously not very strong corporate governance when we see trouble at these huge
companies upon the absence of their "owner" heads, right?
And, we have numbers to back it.
What
is
the argument here?
How can the absence of the head of a huge conglomerate create these challenges
exactly?
We remember the "CEO risk" argument that was often talked
about when these conglomerate heads were facing penalties for wrongdoings.
Do we see the tables turning?
Many Koreans seem to believe that the excessive dependence on a top-down command at conglomerates
is something that
needs to changed.
What needs to be done as
we move forward?