From Top Electric.

A bag of macadamia nuts exposed South Korea’s flawed power structure. In 2014, Korean Air executive Heather Cho forced a flight back to the gate over nuts served without a plate, berating the crew and humiliating the chief flight attendant. This incident of Gapjil—elite power abuse—revealed a deeper issue. South Korea’s economy is dominated by Chaebols, family-run conglomerates like Samsung, Hyundai, SK, and Lotte, controlling nearly 45% of GDP. These giants, born from postwar industrial policies, wield unchecked influence, undermining democracy, stifling innovation, and exploiting smaller businesses. Through cronyism, corruption, and monopolistic practices, Chaebols suppress wages, limit opportunities, and erode trust in markets and institutions. Korean stocks trade at a discount, reflecting investor skepticism. This isn’t just about bad business—it’s about dynasties dismantling meritocracy and democratic values.

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