Korea's "Parachute" CEO Leaders Ruin the Nation
Just as in other nations, Korea's president appoints the heads of public institutions. Here they're called 'parachute' CEOs or 'nakhasan' (낙하산) leaders. But the organizations often have weak safety systems and internal checks and balances. Therefore, corruption is often rife and organizational objectives become misaligned.
The current controversy over the Moon presidency appointing new parachute CEOs on his way out is only the tip of the iceberg. The whole system needs to be reformed. And the organizations themselves need an overhaul. It's one hot mess! Or 1,651 to be exact!
