Friday, May 26, 2017

Seems Like Korean Media Is Always Worried About Companies

President Moon ordered a review of the Four Rivers Water Works Projects that were carried out during the Lee Myung-bak administration, where construction companies (Samsung, SK, Hyundai, and other business conglomerates) colluded in bids to fix prices and were convicted. They were banned from participating in future public projects, but were pardoned by the Park Keun-hye administration. Tens or hundreds of billions of dollars wasted in shoddy and questionable projects. A lot of Koreans want this investigated again. President Moon ordered a review and if there is any evidence of illegalities, then they will be investigated.

Korean media's spin? Construction companies are facing a hard time due to the economy and these investigations could hurt them. They usually add that this would be disastrous for the economy, but this was left out this time.

President Moon ordered a stop to construction of coal fired electrical generation plants. Korea media's spin? You got it! Most of the major construction companies depend on construction of these plants and if construction is stopped, most of them would lose money.

Anyway, you get the idea. I know these types of articles are normal, but when most of the media puts out lots of articles with similar spin, that is abnormal.