Thursday, June 26, 2008

[The Hankyoreh, June 21 2008] [Editorial] FKI, the assistant to ChoJoongDong

The Federation of Korean Industries and other business organizations are volunteering to be a fighter against Koreans online who are pressuring advertisers in the Chosun Ilbo, JoongAng Ilbo, and DongA Ilbo. The ruling Grand National Party is joining in the counterattack, working hard to help these three papers.

The three conservative newpapers are the media outlets and leaders of the big companies and the GNP. While you can sympathize with wanting to help them out in difficult times, that is not only the wrong way to go about things, it is also foolish to hurt their own positions.

One of FKI’s vice presidents, in a DongA Ilbo interview yesterday, said pressuring advertisers “is about upsetting the basis of the market economy.” What he does not get is that the market has shifted. The market is no longer a seller’s market; it is a buyer’s market, a market where consumers are at the center.

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