Antics of Chaebol heirs spark outrage again
- 6 years ago
반복되는 재벌3세 갑질, 이유...해결책은?
Abuse of power by those higher in the pecking order, the huge income gap and the different starting points in life of the privileged and the less privileged.
These are some of the phenomenons highlighted following reports of unruly behavior by the children of the country's wealthiest families.
Kim Hyesung sheds light on this trend that continues to remain unchanged.
The antics of Korea's wealthy business families are making headlines again.
Korean Air Senior Vice President Cho Hyun-min, daughter of the parent company's chairman, is under police investigation after throwing a tantrum and allegedly throwing a bottle of water at a business meeting.
The alleged incident came to light just a few days after her elder sister, Cho Hyun-ah, who infamously delayed a flight back in 2014 because her macadamia nuts were served in a bag, not on a dish,... made a comeback as the chief of the parent company's hotel business.
It's another reported case of the heirs to Korea's family-run conglomerates, or chaebols,... abusing their subordinates and subcontractors.
"Chaebol management is often called "emperor" management... because decision-making is top-down, and leadership is passed down to their children. Unlike the first generation, who were self-made businessmen,... their children grow up like princes and princesses. They become executives with no checks or balances to evaluate their qualifications or ethics, which is problematic."
According to a 2015 survey by CEO Score, the third and fourth generations of the top 30 Korean conglomerates had became executives after an average of 3-and-a-half years with the company.
Usually, less than 1 percent of employees would rise to an executive position... and only after more than two decades of service.
"Misconduct by chaebol owners is even given its own term 'owner risk,' as it leads to a fall in stock prices, profits and hurts the company's image. Public outrage and calls for change are growing as technological advances, like smartphone recordings and social media can record and quickly spread news of their wrongdoings."
I heard about the scandal. I think it's a problem with the parents' education. They lack basic character, not to mention a sense of noblesse oblige."
"It worries me. What if when I graduate and get a job I become that underling who is abused? This isn't an isolated case. It's a social problem that needs to be addressed."
Already, tens of thousands of Koreans have taken to the Blue House online petition page, calling for a thorough investigation and punishment.
More than 80-thousand have signed a petition demanding the national airline drop the word "Korean" from its name as of Wednesday.
Ultimately, these scandals -- moral issues -- of chaebol children... are a reflection of the concentration of Korea's economic power in their hands. They rule over the country's legal system and even its politics. For a real change, what's needed is transp
Abuse of power by those higher in the pecking order, the huge income gap and the different starting points in life of the privileged and the less privileged.
These are some of the phenomenons highlighted following reports of unruly behavior by the children of the country's wealthiest families.
Kim Hyesung sheds light on this trend that continues to remain unchanged.
The antics of Korea's wealthy business families are making headlines again.
Korean Air Senior Vice President Cho Hyun-min, daughter of the parent company's chairman, is under police investigation after throwing a tantrum and allegedly throwing a bottle of water at a business meeting.
The alleged incident came to light just a few days after her elder sister, Cho Hyun-ah, who infamously delayed a flight back in 2014 because her macadamia nuts were served in a bag, not on a dish,... made a comeback as the chief of the parent company's hotel business.
It's another reported case of the heirs to Korea's family-run conglomerates, or chaebols,... abusing their subordinates and subcontractors.
"Chaebol management is often called "emperor" management... because decision-making is top-down, and leadership is passed down to their children. Unlike the first generation, who were self-made businessmen,... their children grow up like princes and princesses. They become executives with no checks or balances to evaluate their qualifications or ethics, which is problematic."
According to a 2015 survey by CEO Score, the third and fourth generations of the top 30 Korean conglomerates had became executives after an average of 3-and-a-half years with the company.
Usually, less than 1 percent of employees would rise to an executive position... and only after more than two decades of service.
"Misconduct by chaebol owners is even given its own term 'owner risk,' as it leads to a fall in stock prices, profits and hurts the company's image. Public outrage and calls for change are growing as technological advances, like smartphone recordings and social media can record and quickly spread news of their wrongdoings."
I heard about the scandal. I think it's a problem with the parents' education. They lack basic character, not to mention a sense of noblesse oblige."
"It worries me. What if when I graduate and get a job I become that underling who is abused? This isn't an isolated case. It's a social problem that needs to be addressed."
Already, tens of thousands of Koreans have taken to the Blue House online petition page, calling for a thorough investigation and punishment.
More than 80-thousand have signed a petition demanding the national airline drop the word "Korean" from its name as of Wednesday.
Ultimately, these scandals -- moral issues -- of chaebol children... are a reflection of the concentration of Korea's economic power in their hands. They rule over the country's legal system and even its politics. For a real change, what's needed is transp