noun
- A large South Korean business conglomerate or family-owned industrial group.
Usage: From Korean; often capitalized when referring to specific companies; Common in business and economics contexts
Examples
- Samsung is one of the largest chaebols in South Korea.
- The chaebol system has shaped modern Korean industry.
- Many chaebols expanded internationally during the 1990s.
- The government has investigated chaebol practices for decades.
- Hyundai and LG are examples of major chaebols.