Samsung's influence on South Korea

1698 Words Nov 26th, 2013 7 Pages
1. Introduction
Nowadays in South Korea it is possible to live a „Samsung-only“ life: You can use a Samsung credit card to buy a Samsung TV on which to watch a Samsung-owned pro baseball team in your Samsung-made apartment.
The Samsung Group is a South Korean multinational conglomerate company headquartered in Seoul and operating worldwide. During the last century Samsung became the largest chaebol – the Korean term for corporate groups that were jump-start with government support and established itself as the main driving economic and political factor in South Korea. That is why the Republic of Korea is also referred to as the Samsung Republic.
This paper analyses Samsung’s influence on the South Korean economy and politics
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It is not unusual that young professionals at Samsung work till deep in the night and after just a few hours of sleep return to their workplace. So recently the term Samsung man was established in the Korean vocabulary describing an ambiguous man striving for a bright future and who is willing to give up almost everything for the success of his company.
This aspect is great for Samsung’s economic success, however it hinders the development of other companies who cannot compete with Samsung for young talents. Lacking the access to fresh talents those Korean companies already fell back in the race for innovative leadership. By grabbing all high potentials Samsung is indirectly destroying the future of its competitors, which have to build up their future with the leftovers at the employee market. So you can conclude that Samsung has not only the pole position in the race for young talents but achieved to have an almost monopoly position for the best graduate students.
2.2 The influence on the Korean politics
Based on its economic power Samsung built up a strong political network to influence Korean politics. Over decades Samsung bribed Korean politicans quietly tolerated by the public. Samsung was even threating Commissioners and persecutors to end their career if they would dare to open a case against the company. Therefore Samsung was

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