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Louis Zhao
Canada
เข้าร่วมเมื่อ 11 ธ.ค. 2021
Learning life one iteration at a time.
The Ultra Rich Families Who Control Korea: Dark Side of The "Chaebols”
Exploring the Chaebols of South Korea: the family-owned conglomerates that dominate and sometimes monopolizes key industries in the country.
We dive into the history of South Korea’s economic transformation (the “Miracle on the Han River”), and the role Chaebols played in it.
We also explore modern challenges, like the “Korea Discount,” global competition, and government efforts to curb Chaebol dominance through corporate reforms and legal scrutiny.
Ultimately, the Chaebol story is one of contradiction-a tale of immense success paired with systemic flaws. How South Korea manages this complex legacy will shape not just its own future but perhaps serve as a lesson for the rest of the world.
Patreon: www.patreon.com/theLouisZhao
00:00 The Nut Rage Incident
01:22 What Are Chaebols
02:06 History of Chaebols
05:23 The Miracle on the Han River
06:00 Monopolies and Barriers of Entry
07:30 The Problems with Chaebols
09:55 Global Competition
11:12 Governmental Actions/Reforms
12:35 Conclusions
We dive into the history of South Korea’s economic transformation (the “Miracle on the Han River”), and the role Chaebols played in it.
We also explore modern challenges, like the “Korea Discount,” global competition, and government efforts to curb Chaebol dominance through corporate reforms and legal scrutiny.
Ultimately, the Chaebol story is one of contradiction-a tale of immense success paired with systemic flaws. How South Korea manages this complex legacy will shape not just its own future but perhaps serve as a lesson for the rest of the world.
Patreon: www.patreon.com/theLouisZhao
00:00 The Nut Rage Incident
01:22 What Are Chaebols
02:06 History of Chaebols
05:23 The Miracle on the Han River
06:00 Monopolies and Barriers of Entry
07:30 The Problems with Chaebols
09:55 Global Competition
11:12 Governmental Actions/Reforms
12:35 Conclusions
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Modernity is a hellscape. I don't know why anyone would want to pass this misery on to anyone else.
South Korea government is a STOOGE PUPPET 🤡 of the CORRUPT U.S 😈government. So SK copies the U.S economic system with high inflation and a few rich people have all the wealth and money, while most working people are poor.
Interesting, but given your last Chinese name, I was wondering how does Korean youth giving up compare with Chinese youth giving up?
Good question, and excellent observation on my Chinese last name haha There's indeed a similar phenomenon of youth giving up in China, though it's not accompanied by the spending spree like the Korean youth. The Chinese movement was also somewhat political, with the government trying to crack down on all the related social media posts. I think the "tangping" keyword was banned at one point on social media, so people created the "bailan" word.
This is Canada right now. Just add being invaded by government sponsored aliens, so their are no jobs either.
For me, accepting the fact that I am a failure by most societal markers was a great liberation that was a total surprise. I would never have learned what I really am without becoming absolutely crazy in how the world was not working out the way I wanted it to. When things work out, you never learn, never need to change, so often i find myself rooting for people who are obviously in tumult to fail. Though totally understandable, their desperate flailing grasping arms of yoga workshops are just giving them hope of becoming more entwined with their ego and the outer manifestations of its games. Here's hoping you fail more, well!
"Humans have been putting sticks in the holes..." Louis Zhao 2024
a very good uplifting interpretation, good view. "The best is yet to be"
This is absolutely a world wide problem. This is the top 1% against the 99%. The sooner we all realize this, the better.
South Koreans are very cooperative with Chaebols due to the brainwashing during the 70s when President Park drove economic success utilizing the wealth of Chaebols, and a lot of people are captivated by the mindset that being "successful" is likely only possible by working for these mega-corporations. It is slightly different from the United Health Care CEO assassination/class war situation going on in the US. I don't see Korean people getting up and fighting against Chaebols because unlike people seen in the news, people are way more powerless in terms of economic freedom due to the social structure that has its foundation built on these oligarchic families. People will do anything to have the opportunity to get close to Chaebols to have financial benefits. But this economy won't last forever also, so we will have to see how this will turn out in the 2,3, or 5 years later from now because people are also getting fed up getting paid 2,500 dollars a month for working 10, 12 hours a day constantly.
Excellent analysis my friend
6:14 Ah ! Looks like - lit Nomad - mate.
It's a serious debate, which Korea is worse? The North and its authoritarianism or the South with its brutal wage slavery.
I wander if it is so bad to live out of Seul, in a smaller where rent or cost of living is more affordable,
here in europe our elites are flipping screwing us
Why bother trying to fulfil traditional expectations when they’re realistically unobtainable
Informative video))) in a few minutes of your video I do understand how I get illed) really appreciate it) thanks) 😊
Thanks! Glad you found it helpful!
Ironic) like it) 😊
Thank you! 😊
It looks more like business, like conveyor than creativity - I mean k-pop. These girls are too young to be personalities, to have their own opinion and their career and their life totally depends on k-pop companies and fans. Perhaps they do have more money, fame and fans, but they have to less space to be themselves. It's not for everyone. Ordinary peoples' life has much more freedom, k-pop idols do not have it at all or very little.
True, there's definitely a trade off here
Somewhat same in Canada lol.
💙 Thanks 💙 💜☸️☯️☸️💜
We are living in another Gilded Age. The original Gilded Age (1870s - 1890s) ended due to a combination of economic crisis, progressive reform, and world war. The specter of war is terrifying because we now have ample weapons to destroy all humanity.
Inflation rate is so high to the point what they earn can't be use to buy any landed house or decent car or having decent live with family. This happened around the world unfortunately. I get that feeling because I am one of them.
Resume: rat race
Its haooening everyehere not just in korea here in India its ssame
You are an incredibly articulate young man! I have had a lot of experience with young Koreans as I have taught in the international English programs in Vancouver, and I have to say Koreans have always been my favorite students. You are the "Italians" of the Asian world! I wish the young people of Korea the very best and hope they find their way in a very hard world. Having said that, what you described about the work world and university for young people is the same here in Canada.
I came across this opinion from another channel: South Korea has everything concentrated in one city Seoul. If govt managea to decentralize it, lot of these problems would become less severe. Besides that, i would love to know if there were think tanks finding reasons and solutions to SK's problems, mainly related to youth.
Just feedback - using AI images at the start made me think the entire video was AI generated and I clicked off immediately. I only came back to check the comments to see if anyone else noticed before realizing you might actually be human.
Wow amazing feedback. Thank you for letting me know!
What you’re talking about is the illusion or delusion of having a choice. Is it really a choice when you are unable to make a different choice? Aren’t these youth really just struggling to make lemonade? Generational poverty has been growing across the globe and further up into the classes (castes) while the global wealth gets hoarded into a smaller and smaller subset of the population (the wealthy combining their wealth through mergers and marriages).
The issue was created by older generations..the boomers.
so like... South Korean youth become french?
I know Korea, Japan and usa are some if not the biggest examples, but it's a global issue, everywhere in the world life has become harder, degress are less valuable, Jobs pay less less people are dating, less people are having kids and more people have given up their goals because it's unachievable
People are realising that a lot of the things they were taught to value arent that great at all. Work for eternity to buy a house? Bust your ass at a dead end jobs? Why, and for whose sake? Might as well live free and enjoy this fleeting life
Billionaires have taken over the world.
Nothing says "take that capitalism" like going into massive debt and becoming a slave to capitali...oh
Great video! This is one of the first times I’ve seen a video on a topic related to young people giving up that actually had a positive spin on that. It’s way too easy to come away from these videos feeling cynical
Thanks! I was pleasantly surprised when I realized the positive twist in this phenomenon during my research too
Hello and thank you for this vidéo, I am belgian and 68 years old , but i consider , It is a very good thing to rebel against that system , who just doesn't consider any one as" a human being " 👌🙏👍
Well said! Hello from Canada 🤗
Over in the states, a man would have to basically sacrifice his mental and physical health to support his family. At the time, he might have felt a certain level of pride and joy in taking care of his family. But feminism changed all of that. Since women reject the vast majority of men, men are discovering just how easier life is with a wife and kids. A man can live comfortably on a fraction of what it takes to raise a family. We don't need to buy brand new cars and overpriced homes. We don't have to go into crippling levels of debt. So in many ways, feminism has done men a fantastic service. Because of feminism, men no longer have to enslave themselves.
same problem we have in u.s
This is happening in the West as well. It’s a really bad situation. I’m Gen X where this started, and it has gotten much worse. The older generations just laugh it off without any real comparison of what life is like now.
Welcome to Europe
Truly A Global Phenomenon 🧐
Huge waste of potential. 1980 was when I gave up. Now it's just impossible to get ahead. Treading water is my favourite sport. I am not Korean!
You sounds so much like Credit card sales person
In the US it's similar, so many people can barely afford to live these days, and are dropping out of society. Great video 👍
They'll care when they're older and start to get sick!
It's not just a Korean phenomenon, while it might be more pronounced in Korea due to the insane structure of how a few families control the country, basically a plutocracy with a democratic cocktail umbrella as a cover. Everywhere due to global recession the billionaires like locusts stream away from their traditional wealth generating areas into the everyday places and in the process ruin everything they touch, like housing, public transport, farming, even as mundane things as plumbers are getting formed into bigger and bigger companies that can then be traded like stock and the plumbers themselves become just numbers.. even in feudal systems there was more equality than we have globally today. No wonder kids are giving up and to be honest it's probably the most effective way of protest possible because the rich also hold the monopoly on media and "legitimate" use of force.. even though, a certain Luigi made a pretty convincing showcase.
These problems are relatively global sadly. Neoliberalism is an abject failure
People dont understand what’s happening because they don’t read any history. The reality is that the last 80 years were the exception not the rule. We’re returning to the long run norm of human civilization where a tiny few people own everything, who your parents are is more important than intelligence and work ethic, and multigenerational homes are the overwhelming norm. 99% of everyone that has ever lived was some form of slave, serf or peasant.
All true and most damning thing the youth do it to themselves with plenty of input from their surrounding is that they want to live a champagne life style with not even a beer budget. Of course they can't do it and they will fail trying that and then they blame the society, their parents, their surroundings..etc. There are plenty of jobs available in Korea. It's just that younger generation and older generation too for that matter rather wear suits and ties and sit on a clean/nice desk and smoke, drink, chat 16 hours a day and brag how hard they worked and thus how tired they are. You can find plenty of success stories of how foreign workers worked hard and able to afford houses/apt and raise families not only back in their home countries but also in Korea. Now, such successes and failures all happened in the same country and same society. Just a different mind set and attitude facing the life.
I am 59 and think it was very wise, honest speach. I was listening with big pleasure your/s story. I am sorry for your struggle too. Enjoy your life, health, free time, discover yourselves - live good life... Greating from Poland.
Capitalism is removing youth's perspective in many countries and many fronts. No expectancy of education, healthcare, stable and decent jobs or homeownership leads to people not having families, not thriving and giving up. And THEN mental illnesses kick in. The stage of post-capitalism we're living is really really depressing.