Chaebols

Chaebols are large, family-owned business conglomerates in South Korea that play a significant role in the country's economy. These companies, like Samsung, Hyundai, and LG, operate across various industries, from electronics to automotive. They are characterized by close partnerships with the government and a centralized structure where power often remains within a single family. Chaebols have driven South Korea's rapid economic growth since the 1960s, but they also face criticism for monopolistic practices and lack of transparency. Their influence is a key feature of South Korea's corporate landscape and economic policies.