Chaebol reforms

Chaebol reforms refer to efforts to improve the functioning and transparency of South Korea’s large family-controlled business groups known as chaebols. Historically, these conglomerates controlled significant sectors of the economy, often engaging in questionable practices like tax evasion and undue influence on politics. Reforms aim to enhance corporate governance by reducing excessive family control, increasing transparency, and encouraging competition. This helps prevent monopolistic practices, protects investors, and promotes fair market conditions. Overall, chaebol reforms seek to make these business groups more accountable, sustainable, and aligned with broader economic and societal interests.