MrCowBells t1_iwxz3k1 wrote on November 19, 2022 at 5:12 AM

Reply to comment by matty_low in TIL in response to infamously high suicide rates at Mapo Bridge in Seoul, South Korea, the bridge was adorned with suicide prevention messages and uplifting photos. These measures weren't enacted by the government, however, instead the entire project was financed by Samsung's life insurance division by evilclownattack

State-run company would be more like socialism/Communism. The idea of the Chaebols is more like oligarchy of several different (sometimes intertwined via marriage) family run conglomerates.

So more like company-run state?

It's changing a little but it's a very slow change. I think Samsung recently toyed with the idea of putting a non-family member in charge for a bit and then backed out.

dishonourableaccount t1_iwy1emi wrote on November 19, 2022 at 5:37 AM

Imagine a European noble family saw the winds of change coming, and prior to getting merged into a larger empire or ousted in a revolution, decided to just get into business. Or imagine the Rockefellers, Fords, and Waltons on steroids (and lasting centuries instead of fizzling into nothing in 3 generations or so).