Chaebol

A chaebol is a large South Korean conglomerate made up of numerous affiliated companies controlled by a single parent corporation. These conglomerates often span diverse industries such as electronics, automotive, construction, and finance. They typically maintain close ties with the government and are managed by powerful families or founders. Examples include Samsung, Hyundai, and LG. Chaebols play a significant role in South Korea’s economy, driving growth and innovation, but they can also pose risks such as monopolistic practices and complexity in corporate governance.