South Korea under the dictatorship of Park Chung-hee where South Korea's economy rapidly grew from industrialisation and the Chaebol corporations such as Samsung and LG. Ever since the industrialization of South Korea's economy, South Korea has placed its focus on technology-based corporations, which has been supported by infrastructure developments by the government. South Korean corporations Samsung and LG were ranked first and third largest mobile phone companies in the world in the first quarter of 2012, respectively. An estimated 90% of South Koreans own a mobile phone. Aside from placing/receiving calls and text messaging, mobile phones in the country are widely used
Chaebol from the same hanja or kanji), some major differences have evolved between chaebol and keiretsu: The chaebol model is heavily reliant on a complex system of interlocking ownership. The owner of the chaebol, with the help of family members, family-owned charity and senior managers from subsidiaries, has to control only three of four public companies, who themselves control other companies that control subsidiaries. A good example of this practice would be the owner of Doosan, who controlled more than 20 subsidiaries with only a minor participation in about 5 companies. The chairmen in charge of the chaebol possess a small