Miracle on the Han River brief compared to other countries who experienced similar situations. Chaebol refers to corporate groups in South Korea, mainly run by families, that exercise monopolist or oligopolist control over product lines and industries. They can be compared with conglomerates of the United States and the Zaibatsu of Japan. Sometimes the Korean military itself is considered a chaebol. During the industrialization period of South Korea, President Park Chung-hee supported the rise of chaebol groups, facilitating the growth of these groups in order to trigger economic growth. Inside the operations of chaebol groups, there are many branches that family members control and operate.
Healthcare in South Korea run by publicly owned universities. Payment is made on a fee-for-service basis. There is no direct government subsidy for hospitals. This encourages hospitals to expand and discourages community services. The Korea International Medical Association has been formed to encourage medical tourism. Nearly 400,000 medical tourists visited South Korea in 2013 and that number is projected to rise to 1 million by 2020. Compared to procedures done in the US, patients can save between 30 to 85% if they have the treatment in South Korea. It has been reported that some Korean hospitals charge foreign patients more than local patients due