What Is a Chaebol Family in Korea? 5 Empires and Their Heirs
What is a chaebol family in Korea: a founding clan, often in its 3rd generation now, that controls a sprawling business group such as Samsung, Hyundai or LG. The word chaebol (재벌) means roughly ‘wealth clan’, and the model explains why one family name can sit behind your phone, your car battery and the hotel you book in Seoul.