South Korea names ‘chaebol sniper’ as antitrust chief
SEOUL, South Korea (AP) — South Korea’s new president has named a long-time shareholder rights advocate to lead the country’s antitrust regulator.
The government announced Wednesday the appointment of Kim Sang-jo, an economist who has advocated for shareholder rights and reforming chaebol, the family-controlled big businesses that dominate South Korea.
The appointment is in keeping with President Moon Jae-in’s pledges to reform the chaebol.
Kim, dubbed the “chaebol sniper” for his activism, has said he will seek to restore fairness that is lacking in South Korea, sapping the dynamism of its once vibrant economy. He helped draft Moon’s chaebol reform agenda during his campaign.
Moon was elected president on May 9, succeeding former President Park Geun-hye. Park was impeached over a massive corruption and influence peddling scandal that implicated a number of chaebol executives.