Moral obligation

By Steven L. Shields

My upbringing as a Christian in the United States has formed my understanding of my moral obligation since childhood. I don't always get it right, but I try.

I hope my understanding as an adult is deeper, more well-founded, and more in keeping with a being member of not just a global community, but a community that embraces all religions or none, all nationalities, languages, and cultures.

So how do we function in our local economy that revolves around the increasing wealth and super-control of a relatively small number of giant, octopus-like corporations?

Many in government believe these corporations are so essential to the national economy that even their CEOs are given a pass on egregious breaches of the law (while small-time errant people suffer under maximum sentences).

I live just 50 meters from the front door of the headquarters of a company in Seocho-gu, southern Seoul. The company, which started decades ago as a medium-sized baking company, has systematically and aggressively gobbled up a considerable number of food retailers by partnering with mostly U.S.-based brand names.

The giant corporation has almost unlimited resources. They can easily pay high rents, decorate, market and supply the goods. The rising cost of rent alone precludes the small businessperson from ever competing. Corporations have made it impossible for individual entrepreneurs to own and start businesses.

Korea's current government has bought into this the corporate monopolization of the economy. I was surprised President Yoon Suk-yeol is touting supply-side economics. Such policies favor the giant corporations at the expense of individual consumers, employees, small shareholders, and small businesspeople.

This economic policy was known about 40 years ago in the U.S. as "Reaganomics," named after then President Ronald Reagan, constructed largely by economist Milton Friedman.

Former U.S. President Donald Trump followed suit, further deregulating and reducing taxes for the few. Only the corporations benefit from the policy ― not the individual consumer (who's buying power in the U.S. has not increased since that time), and not the government, who receive little in tax revenue from many corporations despite significantly lower tax rates. There are too many loopholes.

Like Yoon and his friends, Reagan and his corporate supporters argued that giving bigger breaks to the corporations (in taxes, reduced liability, and reduced accountability) would result in a "trickle-down" of money to even the minor people in the pyramid. Nothing trickled down, though ― at least not very far.

That this failed economic experiment has been trotted out in 2022 in Korea is no surprise. Corporations are powerful and want to have control. Many politicians quake in their presence. But more than 90 percent of the population is held captive: by housing prices, at the supermarket, and a lack of choice and competition in eateries and other retailers.

Meanwhile, across the street at the company's headquarters, the labor unions have been protesting that corporation's continuing poor management practices, poor working conditions, and broken promises.

Even under Korea's current corporate legal structure, accountability seems to be missing. Under Yoon's proposed changes, there would be even less accountability ― but there never seems to be any application of such accountability in any event. At least, that's what the loud protests from across the street have been claiming for several years now.

The protest tent has been on the walkway in front of the firm for several years. During the past few weeks, since the relaxation of COVID-19 restrictions, the protesters have gathered in large numbers with a stage, loudspeakers, and several busloads of police to keep the peace.

I wonder if the police presence is to protect the protesters from hordes of angry neighbors who are fed up with all the noise and disruption of traffic.

I am sympathetic to the plight of the workers and the franchisees, who get the short end of the stick in the supply chain. The supplier ensures corporate-owned stores are fully stocked before franchisees get stocked. Lately, this means shortages in the products offered and customer frustration that the franchisee can't resolve without cooperation from the corporation.

At the same time, like thousands of my neighbors, I am tired of the protests across the street. The apartment building next door to the company offices has started a counter-protest demanding the protesters be driven out.

I have determined that my moral obligation, as a member of society, is to support locally owned shops whenever possible. I go out of my way to find an independent coffee shop or a restaurant that a local businessperson singly owns.

I avoid the corporate coffee shops and find the independent ones. My task is increasingly difficult. Those small shops have mostly been driven out of business by the corporations.

Thus, my response to the plight of the protesters across the street is to avoid buying from any retailers owned by the corporation they are protesting. I avoid buying products produced by that corporation, which are sold in supermarkets or convenience stores. I walk an extra kilometer or more to find one of the few independent bakers in my area.

I realize that my contribution to the overall economy is minuscule. Still, I keep hoping that people in the right places will wake up and help the general population that elected them, and not just focus on the powerful few.

Rev. Steven L. Shields (slshields@gmail.com) has lived in Korea for many years, beginning in the 1970s. He served as copy editor of The Korea Times in 1977. He is president of the Royal Asiatic Society Korea.