Just as the making of laissez-faire, the Korean chaebol was a creature of politics. Besides the financial and industrial policy supports, some Korean chaebols even directly originated from the privatization of state-owned companies and other public assets in Korea. Chaebol-centered economic growth has been also destabilizing forces. In order to save Korean capitalism in dilemma, as a social movement to reform chaebols and a tool of corporate governance, shareholder activism was introduced in Korea. For the past ten years and more, minority shareholder's campaign played an active role to protect the interests of minority shareholders, resist expand of market power, and participate in the process of economic democratization. However, minority shareholder's campaign in Korea still faced many difficulties. The minority shareholder's campaign and chaebol reform in the crossing road is just a good footnote to understand today's capitalism in Korea.