The New Company Store
As I pointed out in my recent Samsung photo story on Tom’s Guide, Samsung currently generates 13% of South Korea’s GDP. The company is practically a country within a country. Many of the workers at Samsung’s factories (as well as those at other industrial companies) live in massive dormitory complexes near the major fab facilities, some of them large enough to be cities in their own right. And even these complexes look feeble compared to the next generation of accommodations. Compare the 20-story buildings shown here with the skyscrapers recently finished in Tangjeong’s TraPalace complex. See here.
Samsung owns those dorm-cities, and employees pay only $30 per month to live in them. Samsung erected the buildings with its own construction company. Most if not all of the workers are covered by Samsung's own insurance company. You get the idea. This is a massive, vertically-integrated company the likes of which haven’t existed in the West for many decades.