Chaebols are large family business groups in South Korea, with political affiliations and most large ones owned by the government. They played a big role in Korea’s technological advancements and economic development, but only government-favored chaebols showed economic success, while others faced huge debts. The International Monetary Fund has suggested a total makeover for chaebols. […]

Chaebols are large family-owned companies in South Korea with political affiliations and government ownership. They originated during the late Chosun Dynasty and have played a significant role in Korea’s economic development. However, only government-favored chaebols have shown economic success, and the IMF has suggested a total reform due to their large debts. Chaebols are large […]