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Why have so many political parties existed in South Korea We have previously discussed that the Chaebol is a prominent factor as well as is the existence of Koreas mixed-party electoral system It is evident that a combination of these two factors creates the environment in which small minority political parties can thrive Yet what would occur if these factors were to be manipulated Would this in turn have an effect on the number of political parties According to previous assumptions the outcome of either government regulations on the Chaebol or a change in electoral laws would ultimately decrease the party numbers Lets take a look at whether or not this is soTwo years ago the Korean government began a series of regulations on the Chaebol The Chaebol were under central government control when they were originated in the 1920s and 30s and todays Korean government wishes to return them to this state Shim 1 In September 2000 President Kim Dae-jung stepped up the endeavor This government-led reconstruction effort included the dismantling of Daewoo Group South Koreas second largest conglomerate In the government draft all listed firms were required to fill half their board of directors with neutral outsiders and the total investment ceiling was set at 25 to 30 percent Both of these regulations were aimed at putting an end to the chaebol owners one-man rule over a number of affiliates Additionally the government toughened inheritance tax regulations in order to prevent chaebols generation to generation succession of wealth through extra-legal methods Young-jin 2 Yet the number of political parties remains the same as before the above mentioned regulations had been implemented Although this may seem as if the regulations on the Chaebol have had no affect on the number of parties and therefore discredited our theory this in fact is not necessarily true Perhaps the proposed regulations were not strict enough or the Korean government neglects to follow through with the policies they
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