South Korea's Chaebol Conglomerates Wield Outsized Economic and Political Influence Tracing Back Decades
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Conglomerates called "chaebol" dominate South Korea's economy, trace back to postwar period, and are controlled by a few wealthy, powerful families
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Samsung, LG, SK, Lotte, Hyundai are some of the biggest chaebol, involved in many industries and integral to South Korea's economic growth
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Chaebol had close government ties, getting special loans/support under past authoritarian leaders to fuel growth
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Chaebol account for over half of South Korea's GDP; some call them "too big to jail" despite corruption scandals
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Recent president pardoned Samsung head after bribery scandal; critics say chaebol have too much political influence