Chaebol

Chaebol,

Definition of Chaebol:

  1. (in South Korea) a large family-owned business conglomerate.

  2. 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?

  1. 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