Tag: innovation

Thoughts

How South korea became a Hub of Innovation

“In the 1970s and 1980s, Seoul channeled massive amounts of capital through subsidies and low-interest-rate loans into trusted family-led chaebol, or conglomerates. These favored firms also enjoyed trade preferences and monopoly rights, among other indulgences extended by the government. Such preferential treatment enabled the chaebol, which today include Hyundai and Samsung, to grow into massive business empires whose brands are now recognized and envied around the world”