Immense influence of a private corporation in nation's economy

Every generation needs a revolution - an entrepreneurial revolution

Samsung contributes 20% to SKorea GDP -  one of the biggest in the world.   And the company's control over its affiliate is immense.  And it is controlled by just one family

I have been to Samsung community -  factories with dormitories, mall, hospital, church so that employees do not have to go out of the complex.

In Korea, it is the goal of every student to work for Samsung.   

Its unbelievable.  

Secret of South Korean Economic Miracle

Every generation needs a revolution - an entrepreneurial revolution

Having suffered from NK and China invasion South Korean was poor.  Until 1960 it was still so poor.  However after several decades  South Korean is one of the most prosperous country in Asia, having reached  1 $ trillion GDP, and with standards of living nearly equalling that of Western countries.

What were their secrets to success.  There were 3:

1.   Chaebols employed to industrialize export and grow;

2.   Education

3.   Strong work ethic  (due to the Chaebol) and country's drive to excel

Now its no longer working because competition in education and work place is so intense, many Koreans are unhappy and suicide rate is one of the highest.