Innovation refers to discovering and cultivating new value. The economy can achieve steady growth when innovation receives fair rewards and challenges persist. However, in our economy, which is dominated by the chaebol (large conglomerates), innovation remains an unfamiliar concept. The moment a chaebol family rises to prominence, new opportunities and fair competition vanish, and the ecosystem collapses amidst illegality and unfair practices.

Late last year, this pattern repeated itself in the duty-free industry. A startup headed by the nephew-in-law of Shinsegae Group Chairwoman Lee Myung-hee jumped into the lucrative so-called "Daigou" business (attracting Chinese parallel traders). Leveraging the halo effect of the retail giant Shinsegae, this company grew to become the industry leader within six months, while existing firms suffered damages as their business dealings were effectively halted overnight.

This is not merely a problem involving a single chaebol. According to an investigation by the civic group Citizens' Coalition for Economic Justice (CCEJ), there have been over 1,800 cases of the Fair Trade Commission imposing fines over the past 20 years. It was also common for the same company to receive fines two or three times. Behind the scenes, there were lenient punishments involving leniency and leniency. Experts point out that "anti-market ideology disguised as the market" is running rampant within the entrenched chaebol system.

Reporter Kang Min-soo, who reported on the unfair internal transactions of the Shinsegae chaebol family, and Attorney Kim Sun-woong, who conducted the legal review of the case, will appear on the live broadcast of Weekly Newstapa at 9 PM. Following them, Jo Yeon-seong, Chairman of the Chaebol Reform Committee at the Citizens' Coalition for Economic Justice (CCEJ) and a professor at Dongduk Women's University, will discuss the causes and solutions to the recurring problems of the chaebol. 🎥 View Related Reports

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#Newstapa #NewstapaLive #IndependentMedia #newstapa #Nonprofit #WeeklyNewstapa #ShinsegaeDutyFree #UnfairInternalTransactions #Favoritism #ChaebolReform #FairTradeCommission #Daigou #Smugglers #CCEJ #JoYeonseong #KangMinsu #KimSeonung

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00:00 Opening

00:42 Part 1 | Suspicions of Shinsegae Insider Trading (Reporter Kang Min-soo, Lawyer Kim Seon-woong)

01:30 The Shinsegae Family Has Arrived in the Duty-Free Industry

04:58 Preferential Discounts Only for Companies Related to Shinsegae Family Relatives

10:15 The Familiar Pursuit of Private Interests by Chaebols: Why Does It Keep Repeating?

19:45 Part 2 | Recurring Pursuit of Private Interests by Chaebols (Jo Yeon-seong, Chairman of the CCEJ Chaebol Reform Committee)

20:40 The Reason Chaebols Do Not Hesitate to Cheating

26:42 Lenient Punishments and Reductions Only Increase Consumer Damage

30:45 Companies Change Only When They Are Afraid of Punishment and Lawsuits

35:20 The Trap of Centrist Pragmatism: Chaebol Reform Is True Innovation

45:58 Closing