![]() ![]() The NPS is one of the major shareholders of Samsung C&T. ![]() ![]() However, the philosophy has been criticized for the executives or shareholders taking excessive gains from increased productivity, while salaries of other workers stay flat.Ĭhang mentioned shareholder capitalism when he was asked his view on the allegations that the Ministry of Health and Welfare pressured the National Pension Service (NPS) to vote for a merger between Samsung C&T and Cheil Industries last year. Shareholder capitalism refers to a business philosophy that companies should be run for the owners' or shareholders' sake. They have nothing to do with our economy." "However, you have to think about who are the shareholders. ![]() These are based on shareholder capitalism," Chang said during a lecture at Yonsei University, western Seoul. "The so-called chaebol reform ongoing here is about enhancing shareholders' power and keeping a watch on owner families' tyranny. In a lecture organized by the Network for Social Solidarity, a civic welfare group here, the Cambridge University economics professor said the current approach to solving problems related to conglomerates will only bring outcomes that have "nothing to do with the actual living of the public." Bestselling economist Chang Ha-joon criticized Korea's approach to reforming chaebols as obsessed with shareholder capitalism, calling for a different philosophy in tackling the issue. ![]()
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