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
Etiquette in South Korea the holidays, South Koreans give gifts to their parents and superiors, such as ribs, fruit, wine, and/or gift cards. Neighbors often receive cooking oil, a can of tuna, or laver. In South Korea, going to a funeral involves praying for the deceased person to rest in heaven, and is related to filial piety. Funerals and rituals are ceremonies organized by family and it is considered their responsibility to oversee them. Recently, funeral customs have significantly changed. For example, many people now prefer to have small funerals and be cremated rather than buried. In South Korea, the phrase “condolence call” means