Legal contracts and transparency are given priority over unwritten verbal commitment. Mergers and acquisitions are commonplace. Maximizing shareholder rights is the top priority in running management. Lifetime employment is replaced by labor market flexibility. Individualism and performance are more important than unquestioned obedience and top-down order.
Blind royalty is detested.
Wall Street and Yoido Street investors, not corporate owners, make important decisions. Diversification like an octopus moving its tentacles in all directions has become a burden rather than an asset. Making companies rich and competitive is more important than making a country rich and strong. Business-politics collusion has become a crime. The ongoing simmering feud between sons of the late Chung is not the root cause of the Hyundai group's current woes.