Protesters want immediate removal of Hye Jung Yeon-Je/Getty Images

Taming the Chaebols

At the heart of South Korea's political turmoil – in which the National Assembly has already the president impeached – is the reciprocal relationship between politicians and the giant family-owned conglomerates that dominate the economy. The government should take this opportunity to dismantle this decades-old system.

SEOUL – The indictment of Lee Jae-yong, the heir apparent at Samsung, is but the latest explosive development in the political scandal that has been rocking South Korea. Already, the National Assembly voted to impeach President Park Geun-hye, the daughter of former president Park Chung-hee, on December 9. The Constitutional Court now has six months to justify her permanent removal from office. Depending on its decision, a presidential election may be held in the next few months.