Conglomerate (company) music industry, television and film production and distribution, financial services, and telecommunications. In China, many of the country's conglomerates are state-owned enterprises, but there is a substantial number of private conglomerates. Notable conglomerates include BYD, CIMC, China Merchants Bank, Hasee, Huawei, JXD, Ping An Insurance, TCL Corporation, Tencent, TP-Link, ZTE, Legend Holdings, Dalian Wanda Group, China Poly Group, Beijing Enterprises, and Fosun International. Fosun is currently China's largest civilian-run conglomerate by revenue. In South Korea, the "chaebol" are a type of conglomerate owned and operated by a family. A chaebol is also inheritable, as most of current presidents of chaebols
South Korea by the United States military in South Korea in response to North Korean missile tests has been protested strongly by the Chinese government, concerned that the technologically advanced missile defence could be used more broadly against China. Relations between the governments have cooled in response, with South Korean commercial and cultural interests in China having been targeted, and Chinese tourism to South Korea having been curtailed. The situation was largely resolved by South Korea making significant military concessions to China in exchange for THAAD, including not deploying any more anti-ballistic missile systems in South Korea and not participating in an