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 to the full scope of the crisis and thus helped keep the Korean economy afloat. President Roh Moo Hyun pushed for even more extensive reform. His administration passed stringent regulations on fraudulent accounting, stock manipulation, and irregular wealth succession. The chaebol were forced to improve objectivity on their board of directors. Rather than having the decision-makers be insiders, affiliates, or family members, the chaebol were expected to hold representation who reflected the interests of investors, especially minority shareholders who gained a significant number of rights. As a result, it became easier for the chaebol to raise capital through equity rather