The Dominance of Chebals in South Korea's Economy

Chebals, the family-run conglomerates of South Korea, have been integral to the nation's economic growth, contributing significantly to the GDP. Estimates suggest that the combined turnover of the five largest chebals accounts for nearly half of South Korea's GDP. However, their influence often comes under scrutiny for favoring family interests over those of shareholders, raising concerns about corporate governance. The power dynamics established by these families have raised alarms among investors, particularly as the political landscape in South Korea begins to shift.