Chaebol the claim that in order to be a competitive economy more power must be given to the chaebol. In recent years, the leading political parties of South Korea have reversed their pro-large corporate stance to one of economic diversification. Under Kim Dae-Jung and in the wake of the 1997 Asian Financial crisis, many reforms were made to the chaebol. Most of these changes pertained to corporate structure, transparency in financial reporting, corporate governance, and debt stabilization. In 1997, the IMF provided a bailout loan of $60 billion conditional on revision. Distressed financial institutions were to be closed down and those
Chaebol than riskier debt. This is because the new transparency laws and restructuring boosted investor confidence from abroad. Laws were passed to limit the expansion of chaebol: Formally, the Korea Fair Trade Commission (KFTC; 공정거래위원회;公正去來委員會) announces a limited chaebol list every year as size of industrial assets (not including financial companies). Chaebol with limited assurance (상호출자제한기업집단;相互出資制限企業集團) The following charts list chaebol in order by different categories. Chaebol A chaebol (; ) is a large industrial conglomerate that is run and controlled by an owner or family in South Korea. A chaebol often consists of a large number of diversified affiliates, controlled