South Korea’s family-run business empires 

Ask that to Norty Koreans and Turkmenistans

​@@muhammadrizqanilmi1301you just proved his point even more 🎉🎉🎉

Maybe being susceptible to plastic contamination will help everyone realize we all breath the same air?

Imagine this kind of privilege. No wonder Korean population is dwindling...

Samsung Made 20% of gdp.

But the CEO's are being jailed.

@@skillbopster they have luxurious jail not a normal jail

​@@skillbopsterthey are not CEOs

Well, they could've stop at $10 million or 100 million, and enjoy early retirement. They coud enjoy awesome life, partying all day everyday with celebrities and supermodels. But no, fortunately for us all, they choose to continue and climb ever higher, past 1 billion, 10 billions, 100 billions, on and on. This spirit is what enabled our civilization grow so rapidly within single lifetime. Look at all the heroes, kings, and emperors of the past.. the greedy and the ludicrous, who build great monuments and vast empire were the one that make it into history. Vision and ambition are what separates us humans from other animals.

It reminds me of gambling addicts putting the means of their money on the line, like- what will make them money when they have all of it?

Idiots living in first world countries have the luxury of crying about late stage capitalism. The Chaebols were/are major stake holders in Korean industrial policy they got to were they are not because of MSMEs(Taiwan did that and they are a one trick pony excelling in Electronics Industry and no where else). Everything is late stage capitalism for you lot. You need internationally competitive domestic manufacturing corporations and that is expensive hence why these general trading companies come out on top by reaching into multiple sectors. This isnt evil or catastrophic, this is just how countries without natural resources like develop(unlike Canada and Australia). USA had extremely productive land and decades of security and deep pockets to restructure their industry and still be able to compete. SK is sandwiched between China, NK and Japan two of whom are nuclear armed states. Sanctimonious liberal delusions is a luxury for them. That being said South Korea should definitely increase its top marginal income tax rate.

Every capitalist country is like this, not just South Korea.

but they gave the people a better life. korean oligarch lifted out millions of koreans out from poverty and increased quality of life. so they aren't evil as you taught.

but they gave the people a better life. korean oligarch lifted out millions of koreans out from poverty and increased quality of life. so they aren't evil as you taught.

China party members family have hand in every company

과두정치가 아닌나라는 어느나라가 있나요?

@@user-xv7il4hk6i Your relative North Korea

@@user-xv7il4hk6i BHUTAN

@@user-xv7il4hk6i No other country has elites that constantly show off getting away with breaking the law and even autocratic countries don't have irreplaceable elites that they can't purge for corruption.

​@@user-xv7il4hk6iChina.

They can just leave Korea in that case anytime.

Not sure what you are comparing it with. A corrupted democracy is not the same as a dictatorship.

@@eemoogee160 Not the same, but not really dissimilar.

@@eemoogee160actually it’s even worse. At least you know who you are up against in a dictatorship. In a corrupt democracy you are literally being tricked with an illusion of choice, you will be distracted and caught up in “my party vs your party,” while the actually powerful oligarchs quietly giggles at you feeling happy that you have “a say” in politics

north is what happens when communism goes wrong; south is what happens when capitalism goes wrong

@@eemoogee160 If it's under corrupted capitalism democracy, everything will revolve around profit from the day you're born. It's just another form of dictatorship system.

Same with every other nations in Europe to Asia, even Middle East and Africa. Only very few rich & powerful families controlling the wealth & resources.

That Infosys co founder told that people in india should work 70hrs a week while his daughtet is enjoying hid dady money. Heck she even got Rishi Sunaks wealth after he transferred it to her before becoming the pm of uk

same here in china bro 1 alibaba 2we chat 3evergrande

@@ytn00b3 Same in the Philippines 1 Sy siblings; US$14.4 billion. 2 Manuel Villar; $9.7 billion. 3 Enrique Razon Jr.; $8.1 billion. 3 Ramon Ang; $3.4 billion. 4 Tony Tan Caktiong; $3.2 billion. 5 Aboitiz Family; $3.15 billion. 6 Lance Gokongwei & siblings; $3 billion. 7 Isidro Consunji & siblings; $2.9 billion.

Add JSW and Mittal

forbes ranked Samsung as the best employer in the world, ahead of american tech giants like Apple, Google, MS, amazon, faceboo etc

Its a tiny country, what choice do they even have.

In fact, s.korean want to be doctor rather than being employed to Chaebol company

They guarantee better payment and QOL than smaller companies in general, so why not?

But socialist countries are not Party oligarchies? Please.

​@@LD-Orbs They're the same

@@LD-Orbs Name one country who calls themselves socialist and actually following socialist principles that have oligarchies

I don't know if you are korean or not but I am getting very frustrated with this line of thinking. YES every capitalist society have issues that are similar to the ones experienced in South Korea. However, this line of thinking drastically minimizes the blatancy and severity of the corruption and societal impacts these korean oligarchs (chaebols) have on regular Korean citizens and Korean culture at large. Imagine if Steve Jobs (Apple -> Samsung Electronics) 'negotiated' with the US government to acquire Lockheed Martin (Korean Defense contracts); operated GEICO (Samsung Insurance) and JP Morgan (Samsung Investments) by acquiring controlling stakes, and also bought out NVDIA (Samsung Semiconductors); Owned Pfizer (Samsung Biologics). They are actually big players in other industries including shipbuilding, theatres, shopping malls, and the list - actually - goes on. All the while ignoring worker safety, enforcing draconian labor policies (80+hour work weeks), underpaying workers while also bribing officials to influence monopolistic policies and committing accounting fraud to maintain their profit line. imho, they are the reason why korea has the lowest birthing rate in the WORLD at < 0.7 births per couple. (no money, no time) YES other countries have low birth rates too but like at the 1.0-1.5 range. Your argument ignores the large difference in severity and blatancy of the corruption and undermining of ethics and common decency

Except SK is actual cyberpunk dystopia straight outta fiction

Yes! That system was adopted in South Korea during the Japanese occupation of Korea. It’s a traditional Japanese system that still runs in Korea. ‘zaibatsu’ is the Japanese term.

I guess the current Chaebol system is a (huge) side effect of trying to catch up to the world, that was decades ahead in the race, therefore having to focus whatever we had on a handful of companies, hoping they would succeed globally against established competitors.

that is bc the chaebols were founded when park chung hee, who made some career in the japanese imperial army, seized power in SKorea by military coup and ruled the country until he was assacinated in 1979

Actually, Japan still has this system in place and still active. It's naive to think Japan blushed it off when their economy is virtually run by these large Japanese companies are also family dominated businesses.

@@ytn00b3 Japan is amateur. Those corporations are actually not run by families. (Even the Toyota family owns only 0.1 - 0.2% of Toyota Motor Corporation's stocks.) Korea is more like Sweden, which is even more massively dominated by a number of families, particularly by one family, the Wallenbergs. They are one of the most influential families in all of Europe, renowned for its influence in banking, politics, diplomacy, and the industrial landscape. In the 1970s, already, businesses under their control employed 40% of Sweden's industrial workforce and represented 40% of the Stockholm Stock Exchange's total worth.

In china the government controls everything

Not in China, you can't control the government there. you fk around, you find it out really fast. Ask Jack Ma, and the company didi. There is no elite families in China.

every big country has them, especially the us as well

no in China! see the case of the Alibaba and others. when they are too rich they are forced to step down. That is a state that cares

​@@havencat9337 democracy: leadership must serve the people dictatorship: people must serve the leadership

korean drama depicts all spectrum of korean society. squid game to the heirs.

then come and live korea and then evaluate this country. You dont know anything about korea lolololol just watching the media and saying WOW korea has the lowest birth rate, WOW Jaebuls are really strong, the westerners and chinese will never know our system.

Every capitalist country is like this, not just South Korea.

​@@loelds4817lol no, state capitalist country and protectionist market don't do this

Same with western

No wonder you see comments like “Samsung is the best company” and “It’s better than Apple and Huawei”

I found you in several video, I think you like same video which I like too😂😂😂

*of Chaebols

Samsung is def topnotch.

Republic of usa

the chaebols were founded when park chung hee, who made some career in the japanese imperial army, seized power in SKorea by military coup and ruled the country until he was assacinated in 1979

There’s nothing impressive about South Korea. It’s a Cyberpunk dystopia with high suicide rate.

While they made scandals, chaebols are important for Korean economy. They made up of 65% of Korean GDP and they played a role in transitioning south Korea from poor country into high tech developed country and they lift millions of Korean out from poverty. This is the thing that everyone always forgot when talking about chaebols. Chaebols aren't evil as people think.

While they made scandals, chaebols are important for Korean economy. They made up of 65% of Korean GDP and they played a role in transitioning south Korea from poor country into high tech developed country and they lift millions of Korean out from poverty. This is the thing that everyone always forgot when talking about chaebols. Chaebols aren't evil as people think.

​@@antoniussamuelson3748Do you really know the cost and suffering of these people for the country's growth? The poor distribution of income is obvious. Understand that I'm not talking bad about people who work. The elites are the problem, the hard-working people of Korea are not.

@@antoniussamuelson3748 Even if they are important, does it mean they are above the law?????? I don't think so.

Yes, most probably it's because the punishment is mild. Korean laws are pretty laughable....

Exactly, and one of the few reasons why many mega-corps boycotted/sandal China's government is simply. Corporations in china have no power, and for mega corp...they always wanted more power and money at the expense of others.

Every capitalist country is like this, not just South Korea.

10:30 exactly the reason Why this video doesn't even mention that Lee Jae-yong was pardoned in 2022. TOO POWERFUL LOL "Aug 11, 2022 - Samsung heir Lee Jae-yong - convicted of bribery and embezzlement in 2017 - has been granted a special presidential pardon"

@@loelds4817 Just name a person who bribed president and got a pardon in the US. You drink too much Korean Kool-Aid. LOL

Every capitalist country is like this, not just South Korea.

😢 yes ​@@loelds4817

Where else?

@@enceladus9502 Australia. Britain Canada . New Zealand....... AMERICA

@@loelds4817 yes

Every capitalist country is like this, not just South Korea.

That's a really interesting perspective

There is no democracy in SK. It's all fake like the western democracies

Yeh I think it's a but strange that any nation would allow 1 company like samsung to control 20% of their economy.

it's not suprising, since the country's economy was build by corporation since the beginning. it's oligarch that make korea became rich.

it's not suprising, since the country's economy was build by corporation since the beginning. it's oligarch that make korea became rich.

it's not suprising, since the country's economy was build by corporation since the beginning. it's oligarch that make korea became rich.

In America our corruption is about non illegal agendas and companies buying single family homes to rent out. Those are our major issues 😂🤣. And crazy politicians but they all the same.

You still have a lot to learn and see in this world. There will come a day when the illusion of perfect world that is sparkling in your eyes will shatter. I hope you have a great future ahead of you.

They are politically entangled. Unlike the United States.

This happened in 2016

Well, at least south and north got something in common now, both of them don't have democracy 😂

​​@@backpackpepelon3867In fact; South Korea was a fascist dictatorship up until the 90's and is still ruled by the same corporate interests.

@@deepestsleeep why are you bringing up china

남한과 북한의 딱 한가지 다른점: 니가 정부를 비난해도 3대가 노동수용소에 끌려가지 않는다는거. 그거 말고는 다를게 없는 나라

Apple in US

Boycott Samsung

​@@eemoogee160 in korea samsung controls nearly everything and not just the electronic market

and wall street controls the samsung?

​@@applecutter5723ok relax.. not everything lol

Same as everywhere... normal citizens are just weak... globally.

R@ndi ka baccha congress ki baat nahi karega 😂😂 jo sirf scam ki hai

The little people can call on the courts in capitalism. Forget about that in socialism!

lol

North Korea is led by the Kim dynasty family which gives the impression of being an absolute monarchy

A totalitarian country like China does not tolerate dissent and demonstrations regarding political issues

Korean following western culture politic ,china have been following the same system for thousand of year ..dum dum

What kind of garbage is the president of South Korea? What can he change? Chinese direct exchange system

S Korean cant change S Korean presidents, American govt does.

remember Tiananmen massacre

You've realized the most important point. It's not a question of capitalism or communism. At least in Korea.

North Korea's economy is highly centralized and not a mixed economy

the problem is they have the power to move the emperor

it is not exposing but telling the truth, it's already over exposed since Korean peninsula are divided

​@@totzinfothe comment was sarcasm....

@@Alpha-kl4jo so for you in telling the truth is sarcasm? the sarcasm is the one who make black propaganda and disinformation

the chaebols is the korean family who monopolies an empire of giant corporations like Samsung and Hyundai, and totally exploiting their workers as SLAVES that's why Samsung are jumping to China but they do it again and expelled from China and Samsung jump to Vietnam again and repeated their violations, soon Samsung will be kick-out in Vietnam

@@Alpha-kl4jo the chaebols is the korean family who monopolies an empire of giant corporations like Samsung and Hyundai, and totally exploiting their workers as SLAVES that's why Samsung are jumping to China but they do it again and expelled from China and Samsung jump to Vietnam again and repeated their violations, soon Samsung will be kick-out in Vietnam

US here I love my Samsung products.😊

They are just totalitarianism and fascism come from nationalism