When Heather Cho, the daughter of the owner of Korean Air, went crazy over the way her nuts were served to her the world reacted with anger (and laughter). But her behaviour is typical of the arrogant chaebols. Her outburst could cost them dear.
Patrick Thomas spent his entire career at family-owned firms, including Pernod Ricard, where he became CFO at 33, German cosmetics firm Lancaster and William Grant & Son, and most famously Hermes. He says that family firms should get better at lobbying politicians.
Buyout firms are still doing deals in the Middle East, but they are very different to the leveraged buyouts still associated with PE in Europe and the US.