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Reporter's NotebookTrump-Musk alliance: unimaginable for Team Korea

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U.S. President-elect Donald Trump, left, and Tesla CEO Elon Musk watch the launch of the sixth test flight of the SpaceX Starship rocket in Texas, Nov. 19. Reuters-Yonhap

U.S. President-elect Donald Trump, left, and Tesla CEO Elon Musk watch the launch of the sixth test flight of the SpaceX Starship rocket in Texas, Nov. 19. Reuters-Yonhap

Korea urged to stop denouncing 'back-scratching alliance' between gov't, business
By Lee Min-hyung

The alliance of U.S. President-elect Donald Trump and Tesla CEO Elon Musk sheds light on an evolving landscape of modern politics.

Under the incoming Trump presidency, Musk will lead the new U.S. Department of Government Efficiency in a surprising nomination aimed at what Trump said would entail "dismantling government bureaucracy and slashing excess regulations."

This may provoke backlash from some parties, but few would deny that Musk is one of the most experienced entrepreneurs, with a keen understanding of which regulations are necessary in the world's largest economy.

However, forming a partnership of this kind is virtually impossible in Korea due to widespread pessimism regarding any cooperation between politicians and businesspeople.

Even if such a partnership comes with a number of upsides, Korean politics will never tolerate it, citing corruption woes.

Business circles are not yet ready to embrace the culture largely because of the top-down relationship between ranking politicians and businesspeople, mostly with those who have inherited their businesses from their families.

Tesla and SpaceX CEO Elon Musk, right, jumps on stage as he joins now U.S. President-elect Donald Trump during one of his campaign rallies in Butler, Pa, Oct. 5. In July, an attempted assassination on Trump happened at the same site. AFP-Yonhap

Tesla and SpaceX CEO Elon Musk, right, jumps on stage as he joins now U.S. President-elect Donald Trump during one of his campaign rallies in Butler, Pa, Oct. 5. In July, an attempted assassination on Trump happened at the same site. AFP-Yonhap

Businesspeople here may have their own opinions on the government but continue to walk on eggshells on political issues, as they fear retaliation during leadership changes.

"Every government pledges to abolish unnecessary regulations, but most of them end up with futile efforts due to unnecessary political power struggle between ruling and opposition blocs," an official from a conglomerate said.

"It leaves much to be desired that Korean politics pursue outdated models, most of which are far from such a surprising alliance between Trump and Musk."

Another official from a major tech firm also echoed the sentiment, saying that the Korean government should be more willing to listen to complaints from the business circle.

"Korea has to rely on exports for its economy, and the status quo will not undergo any drastic changes in the near future, which means the government should support more for corporate growth either by deregulation or tax benefits," the official said.

"It is too outdated to continue criticizing such an alliance at a critical time when the local economy depends excessively on trade. If companies lose growth momentum due to regulations, this will bring about sequential shocks to every corner of the economy."

Many businesspeople ask that the government and rival political parties join forces to tackle the current leadership crisis posed by President Yoon Suk Yeol's botched martial law. Citing the seriousness of the incident, the National Assembly impeached Yoon last week.

If the leadership vacuum persists for a longer period of time and the political circle remains trapped in a pointless tug-of-war, the Korean economy will be exposed to higher risks during the Trump era.

Lee Min-hyung mhlee@koreatimes.co.kr


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