In 1997, when the foreign exchange crisis swept Asia, and Korea also couldn’t avoid the typhoon. Korea necessarily held hands of the International Monetary Fund, but they asked tremendous change like restructuring and financial market opening in return. Especially speculative capitals like Lone Star took over Korean companies and banks with not only legal, but also illegal methods to make huge profits in the process of selling them. At the same time, however, they left man...more

In 1997, when the foreign exchange crisis swept Asia, and Korea also couldn’t avoid the typhoon. Korea necessarily held hands of the International Monetary Fund, but they asked tremendous change like restructuring and financial market opening in return. Especially speculative capitals like Lone Star took over Korean companies and banks with not only legal, but also illegal methods to make huge profits in the process of selling them. At the same time, however, they left many deep wounds that haven’t healed yet. Many people were angry with their greed and called them a monster. After a long time, Korea is startlingly becoming like them. There are about 200 private equity funds whose profits are mostly made from hostile M&A deals. What’s more surprising is that ordinary people are excessively interested in financial incomes like stocks and hedge funds because their labor can’t make them rich. A world where labor can’t be respected though it can’t be maintained without labor. How should we live there?less