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News Article Summary/Opinion

S. Korea crackdown on big business

Introduction
This article comes from CNN¡¯s website www.cnn.com in the Asian Business News section on March 4th. The article talks about the South Korean federal government investigation into six of the nation¡¯s biggest chaebol or conglomerates.

Summary

South Korea has said it will investigate the business practices of Samsung and five other big groups, extending a crackdown on the country¡¯s family-run conglomerates.
The Fair Trade Commission will investigate Samsung Group, LG Group, SK Group, Hyundai Motor Group, Hyundai Group and Hyundai Heavy Industries over the next three months.
President Roh, Moo-hyun has said that without reform, the huge companies could start another financial crisis. Business practices such as mutual debt guarantees within conglomerates were blamed for the last crisis in 1997 and 1998.
The latest investigation comes after the head of top oil refi...