Chaebol Object to Shareholder Activism: Not Shocking
This almost hilarious article appeared in the FT Beyond BRICs blog. Koreans have long known that the chaebol dominate Korean life. Shareholder rights is, for the most part, a foreign concept. Financial efficiency may be a stated goal but is not seriously pursued. That should be the demand made by shareholders. The funny thing is that the article tries to point out the NPF is being criticized for being a silent partner of the chaebol. That is a fact. More importantly, the problem is that the status quo affects not only current and future shareholders, but also affects disaffected employees, and Korean society as well.