South Korea’s Family-Run Conglomerates Are Under Pressure

South Korea’s Family-Run Conglomerates Are Under Pressure

https://youtube.com/watch?v=xn3no6tYRKA

Feb.15 — The story of South Korea’s transformation from economic minnow to the world’s fifth-largest exporter owes much to its sprawling family-run conglomerates. Known as chaebol, these long-time pillars of the nation’s “miracle economy” include the likes of LG, Hyundai, SK, Lotte and — largest of them all — Samsung. Yet the chaebol’s oversized influence and cozy relationship with government, highlighted by a scandal that’s engulfed the country’s president, have put the conglomerates under an intense spotlight at the same time as many are navigating generational transitions.

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