Cleaning Up in South Korea

A local B-school dean hopes that a Lazard-managed fund can reform the chaebol systemwhile making money for U.S. investors

For about a decade now, Jang Ha Sung has been on a crusade. The business professor has devoted a big chunk of his adult life to drawing attention to the gold-plated corporate corruption and insider dealing that have been defining features of South Korea's mighty corporate conglomerates, or chaebol. Jang's weapon of choice has been a very blunt instrument: shareholder lawsuits.

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