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
Chaebol from the same hanja or kanji), some major differences have evolved between chaebol and keiretsu: The chaebol model is heavily reliant on a complex system of interlocking ownership. The owner of the chaebol, with the help of family members, family-owned charity and senior managers from subsidiaries, has to control only three of four public companies, who themselves control other companies that control subsidiaries. A good example of this practice would be the owner of Doosan, who controlled more than 20 subsidiaries with only a minor participation in about 5 companies. The chairmen in charge of the chaebol possess a small