South Korea's coming chaebol turn to unification

North Korea is a chaebol's wet dream: a terrain where state power and private profit align with minimal public accountability.

In whispered conversations amidst executives behind the closed doors of corporate offices; amidst researchers at water fountains in strategy think tanks; and amidst political movers and shakers under the stained flaps of late-night soju tents; a new line of thinking on North Korea is gaining traction. North Korea may be more than a security liability or geopolitical puzzle—it may be the last great business opportunity of the Korean Peninsula.

Yes - what a weird time to be talking about unification! Seoul has just wound up a media circus of global attention with its constitutional crisis; there’s an election of mediocre middling candidates to get underway; and very soon Trump will be banging on the door of his ATM like a cashless marine past curfew in 1990s Itaewon. Tarry a while and read on, it actually makes sense.

South Korea’s economy is heavily reliant on exports and activity is highly concentrated in a few conglomerates. It is feeling the squeeze. The global trade environment is be…