An interesting and timely read about the origin story of Samsung. It is fair to say that Samsung’s rise has been the result of a unique combination of the vision and fierce tenacity of the founding Lee family (and the equally strong sense of purpose they have engendered among staff), and the South Korean political and economic environment that enables and supports (and is increasingly reliant upon) sprawling, family-owned conglomerates.

“Even the biggest companies in the United States do not enjoy the privileges of companies in South Korea today. More than half of the family leaders of the ten biggest chaebol groups are convicted criminals. All have been pardoned by the president, often without serving prison time. Three of them, including Samsung chairman Lee Kun-hee, have been pardoned twice. From January 2015 to February 2016, the outside members of Samsung Electronics’ board of directors—who were supposed to be independent, as a check on corporate governance—unanimously approved every proposal put forward by the company, except the two times a director was absent.”

https://lnkd.in/fwPZDV7