Chaebol 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 by an owner whose power over the group often exceeds legal authority. The term is often used in a context similar to that of the English word "conglomerate". The term was derived from the Japanese. It was first used in English in 1984. There are several dozen large South Korean family-controlled corporate groups that fall under this definition. The chaebol have also played a significant
Chaebol pro-chaebol deals, including a nuclear energy contract with the city of Abu Dhabi, and loosened laws preventing the conglomerates from owning financial services companies. Samsung's leader is not the only chaebol chairman to be excused from a crime conviction. Choi Tae-Won of SK Group, Chung Mong-Koo of Hyundai, Kim Seung-Youn of Hanwha, and Shin Dong-Bin of Lotte Group, are a few examples of chairmen who have been charged, convicted, or are currently serving a prison sentence for white collar crime. Accusations include, bribery, tax evasion, accounting fraud, embezzlement, and violent crime. Typically chairmen of the chaebol are pardoned. August 15