> I remember hearing once that Samsung Group alone make up around 20% of the South Korean economy
It was. Right now, South Korea GDP is 1687 trillion Won. Samsung’s revenue is 252 trillion Won. That makes Samsung’s share 15 percent. Hyundai adds another 12% and LG 11%. That’s 38% of the economy in hands of just three companies. Effectively, South Korea is an oligarchy[1].
It was. Right now, South Korea GDP is 1687 trillion Won. Samsung’s revenue is 252 trillion Won. That makes Samsung’s share 15 percent. Hyundai adds another 12% and LG 11%. That’s 38% of the economy in hands of just three companies. Effectively, South Korea is an oligarchy[1].
[1] http://en.wikipedia.org/wiki/Oligarchy