Chaebols in South Korea Article: How Chaebols arestifling South Korea’s economy? Ref: ET Dec 1st 2012
What are Chaebols? Chaebols are large groups of family controlled companies in South Korea. Literally, the word chaebol, pronounced jay BOL or chay bol, means business association Chaebols are similar to keiretsu in Japan
ChaebolsEach Chaebol is owned, controlled ormanaged by the same family dynasty,generally that of the groups founder. Samsung, Hyundai and LG Group areamong the biggest and most prominent Chaebol
Present Scenario Small businesses are in red due to high voltage Chaebols businesspower in the south Korean Economy As per World bank report South Koreas economy hold no: 15 place Chaebols led success in Koreas Economy is a cost to the country
Present Scenario Widening income gap Highest suicide rate in the developed worldConglomerates account for nearly half of GDPThe top ten Chaebols make up more than halfthe value of the 1770 companies on the Korea Stock exchange.
Top Chaebols Lotte Group SK Group LG group Samsung GroupHundai Kia Automotive Group
Korean Chaebols in India Samsung - $ 3.6 Billion* LG - $2.9 Billion Hyundai $ 3.7 Billion *Annual Revenue