The South Korean chaebol and myths of green growth: Coloniality and Argentinian lithium production

Abstract

Observers have celebrated the drive by multinational corporations to develop lithium-ion batteries as a positive step in mitigating climate change. Much of this hype, however, has resulted from corporate leaders propagating green growth narratives that trumpet the capacity of electric cars to initiate an energy transition. Against this backdrop, the paper describes and analyzes significant contradictions of green growth. The South Korean (hereafter, Korea) ‘chaebol’ (enormous, family-owned conglomerates) have deployed green growth myths to build global value chains that transform lithium into batteries that can electrify transportation. I will show how these growth strategies simultaneously produce domestic inequality in Korea and colonial inequities in Argentina, where a large proportion of the world's reserves of lithium lie. Since the 1990s, the chaebol have developed new strategies of accumulation based on a shift toward building global value chains and away from domestic economic growth and expanding employment. The growing electric vehicle industry represents a continuation of these corporate strategies, directing investments to flow abroad in ways that contract domestic employment. These technological innovations require lithium, prompting the chaebols to move decisively to establish control over a significant share of lithium production in Argentina. In seeking to create new pools of value within the much-hyped green transition, these activities have inflicted significant environmental degradation. Moreover, the coloniality of corporate relations with local labor dramatizes how the green transition promised by electric vehicles unevenly distributes the risks and benefits between those parts of the world producing green energy and the industrialized countries consuming it.