Corruption in South Korea's Nuclear Power Industry
State corporatism that involved close links between the state and industry and the dominance of a small number of large companies in each sector. Informal personal networks involved politicians, government officials and corporate leaders and were reinforced by the movement of retired politicians and officials into business associations and companies. The result was regulatory capture of government agencies with industries being left to regulate themselves.the Fukushima Daiichi nuclear accident in Japan, Korea’s nuclear industry suffered its own crises in 2012. The first was a station blackout at the Kori 1 reactor, the country’s oldest, which was not reported for over a month. The second set of revelations concerned systematic malfeasance along the nuclear supply chain involving the falsification of reports of safety tests on nuclear parts and equipment. Revisions to the Nuclear Safety Act gave greater powers to the newly created Nuclear Safety and Security Commission and placed new reporting obligations on all actors along the nuclear supply chain.
State corporatism that involved close links between the state and industry and the dominance of a small number of large companies in each sector. Informal personal networks involved politicians, government officials and corporate leaders and were reinforced by the movement of retired politicians and officials into business associations and companies. The result was regulatory capture of government agencies with industries being left to regulate themselves.the Fukushima Daiichi nuclear accident in Japan, Korea’s nuclear industry suffered its own crises in 2012. The first was a station blackout at the Kori 1 reactor, the country’s oldest, which was not reported for over a month. The second set of revelations concerned systematic malfeasance along the nuclear supply chain involving the falsification of reports of safety tests on nuclear parts and equipment. Revisions to the Nuclear Safety Act gave greater powers to the newly created Nuclear Safety and Security Commission and placed new reporting obligations on all actors along the nuclear supply chain.