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
South Korea alliance between the United States and Japan. Korea and Japan have had difficult relations since ancient times, but also significant cultural exchange, with Korea acting as the gateway between Asia and Japan. Contemporary perceptions of Japan are still largely defined by Japan's 35 year colonization of Korea in the 20th century, which is generally regarded in South Korea as having been very negative. Japan is today South Korea's third largest trading partner, with 12% ($46 billion) of exports in 2016. There were no formal diplomatic ties between South Korea and Japan directly after independence the end of World War II