The Chaebol/Conglomerates in South Korea

If you're a K-drama enthusiast, you've likely come across the term "chaebols," referring to conglomerates. Even today, current K-dramas like "My Demon" and "Marry My Husband" continue to feature these wealthy business families and their heirs.

© SBS - My Demon

Iconic chaebol characters in K-dramas include Lee Min Ho in "The Heirs" and "Boys Over Flowers," Ahn Hyo Seop in "Business Proposal," Hyun Bin in "Secret Garden," Son Ye Jin in "Crash Landing On You," and many others. The presence of these conglomerates remains a consistent and captivating element in K-drama storylines.

Have you ever wondered if the idea from K-dramas about conglomerates only marrying someone of equal wealth is true? Or if mothers try to bribe a commoner to leave their conglomerate son alone? Or do family members resort to extreme measures to secure the top position in a corporation? Maybe you're also curious if real conglomerates give their partners makeovers in a day and let them use their wealth freely. While we can't guarantee the accuracy of these portrayals, we can certainly introduce you to some information about these intriguing people and provide some insights into their world.

© JTBC - Reborn Rich

Conglomerates, known as "chaebols" in South Korea, are significant family-run business groups that originated in the mid-1960s. These conglomerates, dominating various industries, are characterized by a multitude of companies typically under the control of a single family member. The term "chaebol" translates to "rich family" or "clan of wealth" in Korean, with "chae" meaning wealth/property and "bol" referring to clan/group.

The impact of these conglomerates on South Korea's economy is evident in the country's GDP. They play a substantial role, and their influence extends across various sectors. As family members continue to hold influential managerial positions, these conglomerates remain pivotal in shaping and diversifying leadership, maintaining a stronghold in the Korean economy.

Several prominent conglomerates in South Korea include Samsung, Hyundai Motor Company, SK, LG, GS, Lotte, Nonghyup, Shinsegae, and others. These conglomerates operate in diverse industries such as manufacturing, telecommunications, banking, automotive, trading, and more.

Here are some well-known individuals associated with conglomerates: Lee Boo Jin, CEO of Hotel Shilla and daughter of Samsung Electronics; Lee Se Ryung, heir to Daesang Group and girlfriend of "Squid Game" actor Lee Jung Jae; Lee Chan Jin, founder of Hancom and husband to top actress Kim Hee Ae; and actor Kang Dong Won, whose father holds a vice president position at SPP Heavy Industries, one of the world's largest shipbuilding organizations, among others.

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