A stern warning against prodigal sons of jaebeol chairmen
The Seoul West District Court issued an arrest warrant against former Vice President Ms. Cho Hyun-ah (40) of Korean Air on Dec. 30, 2014 on charges of violation of provisions of the Korean Aviation Security Law. From the Court, she proceeded to the Seoul Southern Detention House in Guro-gu.
On this development, Korean Air said that it had no official comment.
This incident is expected to cause a wide-spreading ripple effect to other jebeol juniors, some of whom have long been a target of public criticism for their over-bearing behavior to the common people as well as to their company employees.
Now at many big businesses, sons and daughters of the chairmen of the top Jaebeol business groups are running the giant business organizations on behalf of their fathers and grandfathers who are ageing. In the case of one jaebeol group, the owner founder-chairman is still serving a prison term after manhandling and beating of commoners for his sons.
Some of the third- and fourth-generation prodigal sons born with a silver spoon in their mouth are known to mistreat the employees of their companies, even including aged executives, and have long been a target of public censure.
The court decision is considered a stern warning against other prodigal sons and daughters of the ageing jaebeol chairmen, a good number of whom have already joined the flagship companies of the business groups for a takeover ‘on-the-job’ training and grooming for eventual corporate leadership.
Some lawmakers have reportedly started considering the legislation of a ‘Cho Hyun-ah Law’ to prevent the jaebeol-owned corporations from various risks that they may face as a result of hereditary bequeathing of the control of business companies to their offspring who are not quite for important decision-making jobs.
The prodigal sons and daughters of jaebeol chairmen, who joined the big business organizations, are normally given abnormally fast promotions to higher managerial positions, which is feared to entail consequences that come as a serious burden on the successful operation and prosperity of the business organizations.