Picture of the Day: U.S. Citizen Appointed as CEO of Hyundai Motor Company

It is time for Korea to accept that “Korean” companies are globalized multinationals and no longer looking out for Korea.

The next step is for them to start buying Korean politicians to make decisions that are good for the multinationals even if they are destructive to Korea and Koreans.

Watch out for the politician who says, “We must proudly support our wonderful Korean Hyundai to make Korea strong by moving all factories to SE Asia which will ensure confort women can live peacefully on Dokdo.”

You mean this fellow? He seems to have done well for himself.

From Wikipedia (my use of bold type):

Michael Christopher Woodford, MBE (born 12 June 1960) is an English businessman who was formerly president and COO (April 2011) and CEO (October 2011) of Japan-based optics and reprography products manufacturer Olympus Corporation.

Joining Olympus in 1981 and rising to manage its European operations, Woodford was the first non-Japanese person to be appointed as the company’s CEO in October 2011, having “exceeded expectations” as president and chief operating officer for the previous six months. Within two months, he became a central figure in exposing the Olympus scandal, having been removed from his position after serving two weeks, when he persisted in questioning fees in excess of US$1 billion that Olympus had paid to obscure companies, which appeared to have been used to hide old losses and to have connections to organised crime. The scandal rocked Japanese corporate governance, led to the resignation of the entire Olympus board and several arrests of senior executives, including the previous CEO and chairman, and the company’s former auditor and bankers among others, and made Woodford one of the most highly placed executives to turn whistleblower. By 2012 the scandal he exposed had developed into one of the biggest and longest-lived loss-concealing financial scandals in the history of corporate Japan.