Chaebol, a more than two million family-controlled union that dominates the South Korean economy. A shibboleth is often allowed in many miscellaneous, controlled by an owner whose group power often exceeds legal authority. The Korean word symbol means business family or monopoly. The Shaibol structure can be a single large organization or an association of different organizations. The first known use of an English text was in 1972. Several dozen South Korean family-controlled corporate groups fell under this definition. By the beginning of the 21st century, chabola made up about two-thirds of South Korea’s exports and attracted a large portion of the country’s foreign capital inflows.
Chaebol has also played an important role in South Korean politics. In 1988, a member of the Chibal family, Chung Mong-jun, president of Hyundai Heavy Industries, successfully attended the South Korean National Assembly. The concept of Chibal reform was often discussed in the early 21st century in terms of South Korea’s political and economic future. Promises of change, such as anti-corruption legislation and the restructuring of the integrated, played a role in the presidential election campaign. Samsung Corporate Korea’s trendsetter as the largest, most successful, and most powerful Chibal in Korea. The group accounts for 22 percent of Korea’s 8 percent of taxable exports, and about a quarter of its market capitalization. Eight months later, an appellate court released him. Public dissatisfaction with Chaibol has spread. Hyundai has tried to end relations between North Korea and South Korea, but not without controversy. Nevertheless, some critics argued that the reform was slow, temporary, and incomplete and that it was hampered by the still huge power of the whips and the potential for massive workplace losses as a result of the closure of the loss-making business. Many South Korean family-run chaebols have been criticized for paying small dividends and other administrative practices in order to bring shareholders under control at the expense of ordinary South investors.
