Definition of Chaebol:
(in South Korea) a large family-owned business conglomerate.
Korean term for a large conglomerate formed by cross-ownership and often under one familys control; equivalent to Japanese zaibatsu. Chaebols dominate Korean economy and account for about 90 percent of its gross national product (GNP).
How to use Chaebol in a sentence?
- Agnew noted that significant corporate reform was taking place in Seoul, despite claims that taking on the much-vaunted chaebol, or conglomerates, would be impossible.
Meaning of Chaebol & Chaebol Definition