The Eternal Corporate Being

 The Eternal Corporate Being

Everyone wants to live a long life. Furthermore, many wish not to die, not to age, and to live forever. In reality, this is deemed impossible. However, there is a way - creating a corporation that can exist indefinitely.

Recently, the chairman of the well-known hiking gear maker Black Yak sparked controversy again by assaulting airport service staff, reigniting the debate on the abuse of power by the so-called 'giants'. In October 2013, lawmaker Lee Hak-young revealed the process of 'dealer splitting' as he disclosed an audio file of a Amorepacific sales team manager verbally abusing a dealer and demanding they relinquish their operating rights. This followed the revelation of Namyang Dairy's practice of forcing products onto dealers, causing social outcry just a few months prior.

Among the major domestic retail companies, it was found that "E-Mart" received the highest amount of remuneration from suppliers. The Fair Trade Commission pointed out the urgent need to improve the practice of large-scale retail companies indiscriminately receiving 'sales encouragement fees' from suppliers, based on a written survey of the distribution sector in 2012. According to recent investigations based on submissions from the Korean Chain Store Association and individual companies, E-Mart ranked first among the top 12 major retail companies in Korea, followed by Homeplus and Lotte Mart.

Convenience stores are no exception. In the case of CU, which had been advocating for coexistence, there have been instances where it opened a new directly managed store right next to a franchisee that had been experiencing high sales for five years, without renewing the contract, demonstrating unacceptable coercion.

With the escalation of the giants' abuses becoming a social issue, recent national audits have also raised issues with the Lotte Group. It was said that Lotte Group, which has been behaving in ways that run counter to economic democratization through abuses against franchise dealers, encroachment on small business districts, and allegations of corruption and favoritism, has seriously harmed the interests of the 'small (乙)' party. It was revealed that 1 out of 4 small and medium-sized enterprises supplying to conglomerates had experienced unfair trading practices within the past year, based on a survey of on-site practices of unfair price reduction in 2013 conducted by the Small and Medium Business Administration. In terms of industry, unfair trading was most serious in the IT sector.

The most representative examples of unfair practices were "reducing delivery prices without reason," which accounted for 58.3%, followed by "subcontracting fees lower than the winning bid price" at 26.4%. Price cutting accounted for the majority, with 78.7% of delivery prices being below 5%, and even 21.3% being below 10%. Moreover, a staggering 24.5% of small and medium-sized enterprises had been asked to reduce prices twice or more within the past year.

I am at the forefront of supporting small and medium-sized enterprises and promoting entrepreneurship to create jobs, but when faced with the tyranny and violence of these large corporations, I cannot help but feel disheartened. Even if the government invests in future growth and job creation, if the top-tier companies at the top of the ecosystem do not show willingness to cooperate, but instead continue a culture of exploitation, the day when Korea becomes an advanced country is distant.

This sentiment is not unique to Korea. There is a negative sentiment towards large corporations in most countries around the world. Businesspeople lament that it is difficult to conduct business activities due to this anti-corporate sentiment. However, this sentiment has existed since ancient times.

Even the Bible says that it is as difficult for a rich man to enter the kingdom of heaven as it is for a camel to pass through the eye of a needle. Leviticus 25 states, "The land is mine." The philosopher Augustine said, "Those who follow wealth are easily tempted." Shakespeare said in "The Merchant of Venice," "Profit-seeking and usury are evil. Therefore, nationalization is good."

In 1522, the Nuremberg City Council of the Holy Roman Empire recorded that "the harm that large companies cause to the national economy is greater than that of street robbers and thieves combined. Therefore, monopolistic businesses should be regulated." The Standard Oil Trust of Rockefeller in the late 19th century had a similar experience in the United States. The masses of this era want companies to be ethical. They want companies to set an example. They want to start businesses that volunteer and impress the people.

There is an old saying that a rich man cannot exceed three generations, but the richest family in Gyeongju was the 10th generation Manseokjigi family. When land was put up for sale around them, people would inform the Manseokjigi family first. This was because the Manseokjigi family would only take a certain portion of the profit from the land and share it with those around them. This cycle continued, and the Manseokjigi family maintained its status as the longest-running Manseokjigi family in the world. The biggest factor in the success of the richest family in Gyeongju was mutual prosperity and leading by example. If it had not been for the support for independence movement funds, they would have remained rich until now. The way to live great forever is to create a great company. Don't you want to live forever? #Eternal #Corporate #Being