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
Economy of South Korea Economy of South Korea The economy of South Korea is the 4th largest in Asia and the 11th largest in the world. It is a mixed economy dominated by family-owned conglomerates called chaebols, however, the dominance of the chaebol is unlikely to last and at engenders risk of slowing down the transformation of Korean economy for the benefit of future generations. South Korea is known for its spectacular rise from one of the poorest countries in the world to a developed, high-income country in just a few generations. This economic growth is called by some a miracle, and described as