Oyak (Ordu Yardimlasma Kurumu)
OYAK (ORDU YARDIMLASMA KURUMU)
turkish military pension program that became a public conglomerate with political power.
Ordu Yardimlasma Kurumu Army Mutual Assistance Association was founded in Turkey in 1961 as a pension program to protect career military officers from inflation, but it soon became Turkey's largest and most diversified public conglomerate. By 1984, OYAK's assets totaled more than US$300 million, with heavy investments in the automotive, electronics, construction, and food-processing industries, among others.
Since the late 1960s, OYAK's economic clout has enhanced its political influence. It is an example of the Turkish state's use of professional associations and social-insurance programs to implement economic policy. OYAK is nominally attached to the ministry of defense but is run autonomously by civilians and technocrats.