Korea's Chaebol: So Much For Reform

Why the shotgun deal between LG and Hyundai won't likely be repeated

At 10 p.m. on July 7, Hyundai Electronics Industries Co. finally got its deal. The Korean chipmaker formally acquired rival LG Semicon for $5.4 billion, after more than a year of political intrigue and clan rivalry. The result: the world's biggest maker of memory chips.

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