For anexampleof what can goawry, Chungneedlook no further thanhisfather, the man who foundedKorea's topconglomerate — only to see itcrumbleunder a mountain of debt.
His competitors for the concession, including the country's top food, retail and hotel conglomerate, Central Group, reportedly have complained about the bidding process.
Nonetheless, given Mr Fresco's career at the top of such a hard-nosed conglomerate as General Electric, he looks likely to make Fiat even less of a family concern.