Word: samsungs
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...right. The society has spawned myriad NGOs, civic movements and ideologically committed political parties that contest virtually every government decision as if the fate of the nation were at stake. No one in power gets a free pass these days: in April, alpha tycoon Lee Kun Hee, chairman of Samsung Group, the country's top conglomerate, was forced to resign after being indicted for tax evasion and breach of fiduciary duty. Under the circumstances, even the most well-meaning official must tread with heightened sensitivity to interest groups. Says Hahm Sung Deuk, an expert on presidential politics at Korea University...
...competition. It is leading another coalition to build an open-operating system called Android that will work in the next generation of cell phones as well as other consumer devices. The Open Handset Alliance has 34 members - mobile-phone carriers as well as handset makers, including Motorola, LG Electronics, Samsung, China Mobile, Sprint Nextel and T-Mobile. Though Google ceo Eric Schmidt sits on Apple's board of directors and Jobs saluted Google as a partner whose apps were on the iPhone, Apple is notably not in the alliance...
...large, these titans of industry, though often distrusted, are lauded as the men who transformed an impoverished backwater into a modern nation with the world's 13th largest economy. This week, however, one of the most powerful fell from his pedestal. Lee Kun Hee, 66, the chairman of Samsung Electronics, shocked South Korea by resigning after being indicted for tax evasion and breach of trust...
...Under Lee's guidance, Samsung roared to the forefront of the global electronics industry as one of the world's largest makers of LCD panels, microchips and mobile phones. Yet amid this high technology, Lee increasingly appeared an anachronism, a throwback to an earlier age when a few dominant personalities managed Korea's economic miracle. A shadowy figure rarely seen in public, Lee wielded tremendous authority within Samsung Group, a conglomerate with $150 billion in annual revenue. But foreign investors came to see him as an impediment to the reform needed to transform Samsung from a family-dominated fiefdom into...
...departure (his top lieutenant, wife, and son and heir apparent also resigned positions at Samsung) may finally allow that process to begin - and could set a precedent throughout Asia, where family-run companies have long resisted transparency and greater accountability. As a major shareholder, Lee may continue to influence Samsung. But his decision to resign, even before a trial, for the greater good of the company he ran is an unprecedented act in South Korea and is an example that business leaders throughout Asia may find hard to ignore. When Lee announced he was stepping down in a televised speech...