Debate on corporate corruption in the light of the 24-year sentence imposed to Park Guen-Hye in South Korea

Yesterday, I participated in an interview-debate on TRT World television, which is Turkey’s first international English-language news network with a global audience of over 260 million households. The debate was part of The Newsmakers, which is TRT World’s flagship current affairs programme, and focused on the fight against corruption in the light of the 24-year sentence imposed to Park Guen-Hye in South Korea.

Over the course of the debate, I had the opportunity to focus on several key issues such as the necessity of fighting against corporate corruption through a multidimensional approach (i.e., criminal investigations and prosecutions; transparency of the administrative processes; cultural changes; a new social pact).

I also stressed the importance of the risks connected with the potential distortion consisting of using the fight against corruption as an instrument to get rid of political opponents (e.g, see the Chinese experience) and related to the use of exemplary punishments for the sake of general deterrence.

Another point I decided to stress was related to the very corporate structure that characterizes Korean enterprises, which are known as “chaebols.” As I have already argued in a previous article, their extremely hierarchical structure fosters unswerving loyalty and passive acceptance of corporate misconduct. Such an issue should be addressed by the South Korean government.

Finally, I openly supported the emerging idea of considering corruption as a violation of human rights. In that regard, it is exemplary that, under the presidency of Barack Obama, one of the strategies of the White House was to work “within the broader international system, including the U.N., G-20, Organization for Economic Cooperation and Development (OECD), and the international financial institutions, to promote the recognition that pervasive corruption is a violation of basic human rights and a severe impediment to development and global security” (see the U.S. NATIONAL SECURITY STRATEGY 2010).

Please find the video of the interview-debate below.

One thought on “Debate on corporate corruption in the light of the 24-year sentence imposed to Park Guen-Hye in South Korea

  1. Punishment is important in order to stop corruption. Although 24 year is on higher side but giving punishment spread a message among corrupt people that now they are not free to do corruption. The head of corporation believes that they are king and can do any thing in the company. They not only make huge profits by corruption but also exploit employees. Employees and others are not so strong to take any action against corporation and therefore existence of Corporate Governance and initiation of criminal proceeding will help a lot to the weaker section in getting justice.

    Like

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.