S. Korea sheds it's corrupt crony capitalism

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S. Korea sheds it's corrupt crony capitalism - 3/10/2017 1:53:14 PM

MrRodgers

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Joined: 7/30/2005
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South Korea Removes President Park Geun-hye. This also takes S. Korea away from its dictatorial past. One reason analysts have maintained all along that the US has never really been interested in exporting democracy but instead, exporting influence, arms and cooperation with Wash.

The last time a South Korean leader was removed from office under popular pressure was in 1960, when the police fired on crowds calling for President Syngman Rhee to step down. (Mr. Rhee, a dictator, fled into exile in Hawaii and died there.)

In a sign of how far South Korea’s young democracy has evolved, Ms. Park was removed without any violence, after large, peaceful protests in recent months demanding that she step down. In addition to the swell of popular anger, the legislature and the judiciary two institutions that have been weaker than the presidency historically were crucial to the outcome.

“This is a miracle, a new milestone in the strengthening and institutionalizing of democracy in South Korea,” said Kang Won-taek, a political scientist at Seoul National University.

The scandal also swept up the de facto head of Samsung, Lee Jae-yong, who was indicted on charges of bribing Ms. Park and her confidante, Ms. Choi.

Samsung, the nation’s largest conglomerate, has been tainted by corruption before. But the company has been considered too important to the economy for any of its top leaders to spend time behind bars until now. The jailing of Mr. Lee, who is facing trial, is another potent sign that the old order is not holding.

In the wake of the Park scandal, all political parties have vowed to curtail presidential power to pardon chaebol tycoons convicted of white-collar crimes. They also promised to stop chaebol chairmen from helping their children amass fortunes through dubious means, like forcing their companies to do exclusive business with the children’s businesses.

We know the American capitalist doesn't give a fuck but it might be time to sell and short S. Korean stocks if any of them hadn't already.

HERE

The truly amazing thing is that it took so long for this to occur, it would never happen in the US and gives the lie to any future march of western democracy. The future may have democratic in its name (DRK...the Democratic People's Republic of Korea of N. Korea) but they will still be corrupt, crony, state capitalism.

You can bet the other Asian tigers' or any newcomers once called, will not allow their autocrats to be so declawed.

Could anything like this occur in any other Asian country with the only possible exception of Taiwan ?

< Message edited by MrRodgers -- 3/10/2017 2:14:45 PM >

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You can be a murderous tyrant and the world will remember you fondly but fuck one horse and you will be a horse fucker for all eternity. Catherine the Great

Under capitalism, man exploits man. Under communism, it's just the opposite.
J K Galbraith