First of all thank you for the great video I’ve been looking for an English language video on the chaebols for a while, and thankfully I finally found it. I have done a bit of research on the chaebols, how they started and how they evolved into becoming what they are today, and the single thing that propelled them to becoming so big, is exports. So I think the question shouldn’t really be should they be reformed. You should allow them to evolve and expand as they see fit, because if they succeed they can grow the Korean economy even more exponentially, if they can’t they’ll depreciate and something else will come to take their place. Samsung particularly is like 20% of the entire Korean GDP, and they make 70% of their money from OUTSIDE Korea, so you should allow them to do what they see fits, if it works you expand the economy, if it doesn’t they’ll slowly decline and someone else takes their place, like in the history of business since the beginning of capitalism
Korea is a small country. It doesn’t have the market size such as the US or China to have diversification and the level of competition. So what you get is specialized corporations that monopolize a whole market segment. It’s similar to when the US was smaller and chaebols are comparable to the Carnegie’s, Vanderbilts and Rockefellers of the day
US was already pretty big whether in size or population when rockefellers and others built their fortune, they cornered the market because there were no anti-competition laws, it was a totally different era. Whereas in South korea its the government who helped built these chaebols in order to boost exports and build up the country after the destruction of Korean war and it did work, its just that chaebols have grown too influential now and unlike in the US where its Medium enterprises that make up the bulk of the economy, large korean companies play dominating role in the economy and as a result have unhealthy influence over the government
@@tbraghavendrannothing in the US is remotely comparable go the Korean groups. Can you imagine if Apple or Microsoft accounts for 20% of the US economy? Because that’s what Samsung is to South Korea. The US economy is way more diverse and competitive.
Actually, most of founders of start-ups(like KAKAO, NAVER) have worked for Chaebol groups, then established their own company with the experiences, networking in Chaebol groups. As a Korean, I am sure that Korea would not have become this wealthy without the Chaebols.
@@HKim0072the US did fine because there was no one to compete with back then, realistically who else did they have to worry about on the scale of the US back then? Britain? Germany? The US was the biggest economy in the world by the 1900s, everyone wanted to be in the US and they still do. Korea has a very different set of circumstances, like every country in the world, they decided to become rich this way, not every country takes that path. Korea is a very small population and market, compared to the other big countries, it’s like a drop in the bucket for countries like the US and China, even they can’t create other companies that can compete globally like the chaebols do they won’t do well economically, that’s the true problem of reforming the chaebols
@@SS-up5sc Is there any reason why Samsung should be selling life insurance? And, be in the asset management business? That's where it gets really wonky. Ma Bell did pure spin-offs. Would be really easy to force something like that.
If you are really a Korean, you would damn well know why our stock market is so shitty. Main reason of that is our stock market is a playground for Chaebols, not a free market at all
Breaking up these chaebols into smaller companies and these small firms may not have enough resources to compete with international competitors. South Korean government may have a tough time finding the delicate balance between anti-monopoly and competitiveness globally.
Not only helps the economy but helps the military industrial complex that protects South Korea from not so nice neighbors. Samsung, Hyundai, Daewoo all had played a part in developing the tanks, warships, amd rifles to defend Korea
Chaebols, despite their vast scale, have managed to thrive primarily because their ownership is concentrated within a small number of family members. This concentration of ownership fosters bold decision-making, especially when it comes to exploring new business ventures, thanks to the strong ties and mutual trust among family members. In contrast, corporations led by salaried CEOs, who lack ownership stakes, often exhibit caution and are less inclined to pursue aggressive business strategies due to the fear of failure.
Because if those CEOs failed to deliver their promises, they will be asked to resign. How would anyone worked so hard in their entire life to reach to the top risk his/her position? They would try new ideas only when there is acceptance from major shareholders.
@@melkor2024 Irony: a state of affairs or an event that seems deliberately contrary to what one expects. Are there any positive PR pieces on chaebols? Most of the pieces are about their dominance and outsized and dangerous influence on the Korean economy.
@@HKim0072 what planet are u from lol. no positives? just look at a middle school textbook from the park chung-hee era and I still don't see any "irony"
I can't believe there are Koreans who are whitewashing the chaebols, because of monopoly of the chaebol, there could've been 100 people employed with 10K salary, and now only 10 people are employed with 20K. Does that help the whole society? Can average Koreans afford to eat watermelon and beef everyday?
Korean chaebols bring in money to Korea from exports. They just don't suck up all the value in their domestic markets but actually adds more to the economy through RnD investments. Huge difference from conglomerates in SE Asia where they just do telecommunications, hotels, and retail that is actually "easy" compared to manufacturing sector in a global scale.
@@govb123as a korean national i don’t understand why Asean governments let those Chinese descendants riches suck up the whole money in their homelands and manipulates locals.
And true for my country, Malaysia. You almost hv the whole SEA agree with you :) My spouse is Korean and I travel often and I cannot help but admire how far KR has come within the last 50 years. Mind you MY and KR had the same starting point around 1970s/80s. My beloved Malaysia cannot be further apart now unfortunately 😢
The s. Koreans need to do some reform of the chaebol system but overall Koreans and the chaebols transformed South Korea . South Korea also successfully democratized and has functioning democracy even though they have these powerful families . South Korea should be an inspiration for countries undergoing brutal occupation and dictatorships.
Paradoxically, the reason Korea was able to become a developed country was because of the innovation of the founders of large corporations. What if Samsung's founder had not entered the DRAM business, which was dominated by the United States and Japan? What if Hyundai founder and Chairman Chung Ju-young had not received an order to build a ship from the UK? What if POSCO's founder had not built a steel mill in Pohang, where he made his living through fishing? Perhaps Korea had an economic structure similar to Thailand, even though it received huge subsidies from the United States. But I'm not sure if this is still important in 2024.
These are just yet another example, of corporations being given whatever they want, because they serve the best interests for a capitalist society and market. We all know, what horrible methods and inhumane practices are used, to make most of our devices/electronics etc, some of us may know, that these Chaebol families are using their families power, to do as they like, because they know, essentially they’re untouchable. At what point, do our morals and values in life, became a factor?
South Korea has no choice but to be competitive in the global economy because it is sandwiched between dangerous countries like North Korea, China, and Russia who would not hesitate to use military force to impose their will on the country. So as a lesser evil, South Korea must grow a big capitalistic economy and use the money to fund a large military to protect its freedom
Korea has no other choice because it must protect itself from powerful neighbors like China Russia, NK. Otherwise it will end up like Ukraine, or repeat history from 1910. Ironically, to protect its values and morals, South Korea must adopt questionable lesser evil, so it doesnt get conquered by North Korea.
These businesses offer better pay than the ones restricted to just domestic market. It's very easy to criticize, hard to replicate the same benefits corporations provide.
The only way for the economy to develop further in the best way possible is with diversification, fierce and fair competition, and a robust social net to give everyone a fair shot at opportunity.
The power of chaebols in SK economy is massive. So a competition from China is disastrous for them as all private companies accounts only 40% of Chinese economy.
Chinese competition is not something chaebols need to worry about. The image of Chinese-made products in Korea is not great and there have been problems with certain companies like Temu, etc. in terms of fraudulent listings, etc.
@@jiminswriter4209 but chaebols do not make most of their profits in Korea. The competition they will face from China - and the tide is rising already- is in the rest of the world…
@@jiminswriter4209poorer reputation is overblown and china can make world class products. For example they have DJI in the drone sector while Korean Japanese and even American companies are totally absent in the drone arena.
That's true. Samsung Semiconductor is still in a high position, but I think it is being pushed out little by little by SK Hynix with the recent emergence of HBM. Even though they are companies of the same nationality, the battle for market share is very fierce.
Koreans cars, phones, and appliances dominate global markets. This is all coming from a country without substantial natural resources. Korean economic system has clearly produced superior outcomes. People love to focus on the wealth gap but don't account for the average increase of wealth distribution because being equal with neighbors doesn't bring the same satisfaction as bringing down a neighbor who has much more than oneself.
Like the late Charlie Munger said, the world isn’t run by greed but by envy, that’s why even though the living standard is up by 100 times since the 1950s, it was still safer for me to walk in Los Angeles back then than now. Or something along those lines haha, true legend Charlie Munger RIP
Unlikely. The term chaebol is synonymous with its counterpart "zaibatsu" (derived from the same Chinese characters). The leadership's mentality and their influence in the economic and political spheres in both countries are nearly identical.
I know, what the f was that. I asked multiple billionaires that are probably not busy running their businesses just so I could make video on youtube. Brilliant.
@@XShollajLmao "hey can we interview you about how untouchable you guys are?. You're comparing random interviews with Musk and others talking about real business? These guys do domestic interviews about business all the time.
Just imagine if the government would have implemented a true "English" curriculum for all students. Seoul / Busan could have stolen business away from HK instead of companies moving just to Singapore.
Singapore didn't become the destination for finance companies because they "speak better english" but because they are geographically better located and because korean legislation did not accommodate for such moves. the korean government is more interested in developing domestic manufacturing and not becoming a financial hub.
@@melkor2024 lol, British American Tabacco, VF and FedEx are all well known financial companies. HAHAHAHAHAHAH. Do you even read the business news or just flame bad information on the internet? _BAT significantly downsized its Hong Kong office where most of its Asia regional operations used to be located, and moved 44 Hong Kong-based staff to Singapore, including its regional director Michael Dijanosic._ _VF Corporation went first. In January 2021, the parent of fashion brands The North Face, Timberland, and Vans said it was moving its regional operations out of Hong Kong._ _FedEx plans to move Asia HQ, executives to Singapore from Hong Kong_
And, there are added benefits. My cousin's husband (native Korean) has worked in Malaysia / Vietnam for a Korean company. You think he's learning the local language? No, they speak English. It's easier to find qualified local people in SE Asia that speak English than Korean.
@@HKim0072 so how do those articles point to Singapore's superior language fluency being the cause of those companies' decision to Singapore over Korea? it's more about regulation and legislation than language proficiency. all of ur "evidence" on the language disparity between Singapore and Korea being the cause is presumptuous, and your example about ur cousin is irrelevant: who cares about the proliferation of English over Korean in a certain country, we are talking about English proficiency in two different countries.
Singapore is located at Malaka strait which is a gateway to China and Asia. There is a reason Brits developed them most among their many colonies. Singapore is like Suez Canal of Asia which is essential during Europe Asia trades
The chaebols success in reviving the South Korean economy is also a double edge sword. They brought the economy from one of the poorest to South Korea being the top 10 economy in the world. The problem is you literally are worked into the ground. You have no time for family and any time you are shamed into going on vacations. The workers are miserable, but you have to suck it up because if not then someone is going to take your job or find someone else to do it for you.
Not only S Korea have a bigger company insider which rules the economy and politics society.. for the better country.. I am agree... They helping in deep senses understand.. development. Trade and public sector infrastructure..
@@melkor2024 Then the US, UK and many European countries are also anti-capitalistic. Their regulators stopped a lot of acquisitions of big companies. The last big one was Adobe and Figma.
@@huckleberryfinn6578 The Adobe-Figma and Hyundai-Kia deals are very different in terms of what concerns the government. They intervene to stop monopolies which is attributable to the Adobe-Figma deal whereas with the Hyundai-Kia deal, it was to help the financial situation Kia was in. This merger did not suppress diversity of car manufacturing, nor was it expected because of their respective brandings. Hyundai-Kia is more in line with Ford-Lincoln or Swatch-Omega rather than a big company like adobe aqcuiring a smaller lesser known company. Compare apples to apples and not oranges.
@@melkor2024 I don't think you ever been to Korea. Almost every vehicle on the street is either Hyundai or Kia including commercial vehicles. There's no diversity of car manufacturers.
@@bigj324the prevalence of the two motor companies is irrelevant to our argument. If either Hyundai or Kia were to disappear, then that would be our problem - the merger didn’t affect the market share of either brands. Thus, it was not a monopolistic move. Fyi: I’m Korean and I currently live in Korea lol
Note remotely comparable. US companies may dominate in their respective field and that’s it. Korean megacorps, on the other hand, dominate in ALL fields. Biggest company in the US by revenue is Walmart and its revenue accounts for 2.7% of the US gdp. Meanwhile, Samsung alone accounts for 20% of S. Korea gdp. Samsung not only sells electronics but they also build ships, sell life insurance, operates theme parks and resorts, runs banks, etc. That’s fucking insane.
@@kwtr1609Microsoft, Apple, Google, Nestle, Proto & Gamble, J&J etc.. they're monopolizing. S.Korean chaebol is nothing compared to them unless Samsung and Hyundai as they're now global companies
@@duerf5826 if you only compare the percentage it might not seem like it, but american ceos are practically not really different from the korean ones. Consider the influences they have in american economy. Idk why you guys deny it so much but if you actually look at the impact these american comapnies have, not much different
@@duerf5826i mean, in capitalist countries such as Korea or America, CEOs having unbelievable power is just natural. However America does it better than Korea when it comes to balancing the power
"Total combined assets of $3.7 Billion"?? What? That's gotta be a typo! According to Forbes as of Feb 2024, *Mong-Koo Chung* , chairman of Hyundai Motor -- South Korea's largest automaker, him alone has an estimated net worth of $4.8 Billion. And further more, *Jay Y. Lee* who is the executive chairman of Samsung Electronics and leader of the country's biggest conglomerate, is estimated to have a net worth of $11.1 Billion. So where did that $3.7 B figures come from? 😂
It's similar to saying we give you all online services free so now we own all information about you. The arguments against aforementioned situation is same as for chaebols.
Chaebols are not likely to change from within. Rather, they will be forced to undergo transformation for their survival from competitive pressure from new market players. Think about how Emart is facing competition from Coupang
Given their hold on political and economic power, nothing is going to change unless the people really rise up. But most people are just to docile to do that. Instead they just have fewer and fewer children so in the end only these well off people are left. It is not just Korea. Just like the two party system in the US it will always be politics as ususal.
At this point, these companies have become a source of pride ( and Revenue ) for Korea. Unless many more newer E-commerce companies step up , most Koreans would begrudgingly put with up these power hungry, financially corrupt Chaebols, in exchange for the money they bring in and the status symbol on the global stage.
It's both sides. The scale and size of the companies allow them to compete with global brands. That's great for the overall Korean economy. It's value added business that would never happen. But, the scale and size of the companies make them dominate the local market. Really hard for smaller companies to flourish. Korea should be way more entrepreneurial, but the system prevents it.
@@kimckawa Who said anything about breaking up these companies ? The brazen corruption is what irks most people. They always get away with any charges because of the power they hold.
@@avillageofbigheadsunfortunately, big companies holding massive power is a problem everywhere in the world. America, china, japan you name it. I see so many people talking like corruption is a problem only in Korea, but their corruption level isn't as high as people think it to be. There were only singapore and Japan in Asia that were cleaner than Korea. Idk what's gotten into ppl lately but they're doing pretty well despite having chaebols
There’s a difference between objectivity and cynicism. It is unfortunate that too many journalists believe that they are the same thing. People will not open up to you if you come at them with a sense of cynicism. So it is not surprising that this reporter had difficulty in finding chaebols to comment. There have been other stories where chaebols have commented. It is in response to a professional attitude, which this story lacks.
2:44 President Park Chunghee would be the right way to call him CNBC! Do your research. He's not just some random guy on the street! He's a very respected Korean President.
It invokes Eastern exoticism, which catches the attention of the audience, and the MSM then can frame the context to fit their own narratives. Chaebol as a label has pejorative connotations, which don't provide a full picture of what the entities they describe do or even are. Given how little Westerners understand about Korea, conglomerates would be a more informative word.
Only people who don't know anything about S. Korea say that chaebols are untouchable. What is truly untouchable is the labor union. The union at the Hyundai factory is stronger than at the Korean Hyundai Motor conglomerate.
Paradoxically, the reason Korea was able to become a developed country was because of the innovation of the founders of large corporations. What if Samsung's founder had not entered the DRAM business, which was dominated by the United States and Japan? What if Hyundai founder and Chairman Chung Ju-young had not received an order to build a ship from the UK? What if POSCO's founder had not built a steel mill in Pohang, where he made his living through fishing? Perhaps Korea had an economic structure similar to Thailand, even though it received huge subsidies from the United States. But I'm not sure if this is still important in 2024.
Sad to hear the professor is not optimistic for change. We can see change pushing hard on several fronts though; younger generations growing up with a wealth mindset are less dependent on flex culture and pleasing their parents. The current president is pissing off an entire generation of students. Change is coming, it's just a matter of how much force and at what time.
The Chaebols don't need change imo. They're what allow Korean brand to dominate the global market relative to their smaller population size. The US and Chinese domestic markets for example are huge and can compete internally but if South Korea tried that their companies will have lower profits which means lower R&D to compete with other big global companies. Pooling all your resources in a handful of conglomeretes is better than having thousand of barely surviving mid-size businesses with low margins etc.
You can be profitable being a specialized manufacturer. I believe this is their model in Germany. It doesn't have to be vertically integrated, and certainly doesn't have to be corrupt / criminal.
But the problem is that there's an increase in competition from Chinese companies in every sector in South Korean industries. Especially shipbuilding, semiconductors, smartphones and vehicles. Remember, the Chinese economy is not completely dependent on the private companies.
To put into perspective how strong these Chaebols are. Samsung alone accounts for about 20% of Korea's GDP. Take out Samsung and the country will be done for.
How do you figure? There's still the rest 80% and Samsung takes up 16 percent not 20. The rest of the companies are also pretty big. Korea without samsung would still be richer than most of SEA countries
When you literally built the country's economy and the wealth it enjoys and still to this day remain the backbone of the country's economy , I feel like that's enough for you to feel different than the one's who do nothing but complain
It wasn't them alone that built the country's economy, they got government handouts from tax payer money to jump-start their businesses. Rich people were happy to get free tax-payer money but don't want to give back.
@@dabda8510 lol, what about Wall Street? Not sure you are familiar with Korea. You need to browse the Samsung wiki page and look at all their subsidiaries. It's nuts.
The US has very strong antitrust laws. We will regulate large companies, and shatter them if they get too big. Just the threat of government regulation caused Microsoft to slow down in the 90’s, giving Google a chance to form and rise.
Follow the news about doctors holding the patients hostage due to their ego being hurt with the increase of more medical students. The sense of entitlement in South korea is abundantly clear and shameful for the world to see. Add that to your coverage for a more honest view of south korean society.
Doctors represent 0.26% of the population yet you generalize the entire county to have that "sense of entitlement" - what a gross over-generalization..
82 seems like a lot of chaebols, but in reality, many of them are derived from chaelbols. After the owner's death,the company is separated by the owner's descendants and siblings. Therefore, Samsung is now separated to Samsung, CJ, Sinsegae, Hansol, Joongang, and Bnf, which are ranked 1st, 10th, 9th, 67th, 51th, 72th respectively. This goes similar to Hyundai, LG, and the others, too. Additionally, as third generation owners started to manage, they are reducing the size and profesionalizing business areas. For example, Hanhwa(Korean chemical) aquried four defense and chemical subsidaries from Samsung.
These companies have put Korea on the global map, but they've become too monopolistic and the population has to suffer because of it. The USA has the same problem with large companies such as google and apple
4:56 He was assassinated by North Korean spy. Before him, his wife was assassinated on a different day in attempt at his life by North Korean spy. Pretty sad
Well this is just like exactly how USA doing but in smaller scale. Look at how big company in USA do and what lobbying do to their law And it need to be changed of course. If not then what is the point of democracy? The point of democracy is the power back to the people that means everyone is the same under the law. If not then it's the same as before democracy
There are different vetsions of chaebol in every country. Either the big business, local militia or the government play this role. I think atleast in case of Korea, they have transformed the nation into an economic powerhouse...
재벌은 원래 일본에서 만든 개념인데요. 전후 미군정 시절에 맥아더가 일본의 재벌을 해체시켰습니다. 그래서 공식적으로 일본에는 재벌이 없다고 합니다. 그럼에도 불구하고 사실은 우리나라의 재벌에 버금가는 영향력을 갖는 초특급 대기업들이 많죠. 그래서 사실 일본에는 여전히 재벌이 존재한다고 봐야하죠. 다만 문화적 특성상, 일본은 없는 걸 있는 걸로 만들고 있는 걸 없다고 우기기 때문에 공식적으로 일본인들은 재벌의 존재를 인정하지 않죠. 그러나 일본 최고의 기업인 미츠비시, 스미토모, 그리고 미즈호은행[제일권업은행이 그 전신]등은 역사적으로 "원조" 재벌의 후계자들이며 전전 일본사회에서 재벌이 갖고 있던 영향력에 버금가는 영향력을 현재도 여전히 일본 정/관계에 미치고 있죠. 대기업을 운영하는 방식도 놀라울 정도로 비슷합니다. 사실 한국사회와 일본사회는 까보면 정도로 많이 비슷하죠.
В Шанхае расположены крупная военно-морская база Восточного флота, судоремонтные предприятия Восточного флота, Второй военно-медицинский университет, Институт ядерных исследований, Шанхайский инженерный институт по разработке подводных аппаратов, Шанхайский центр управления космическими полётами, 57-й НИИ НОАК (Институт электронных и телекоммуникационных технологий), штаб Подразделения 61398[15][16][17]. Кого пугать могут
Making money is not the same as keeping it there is a reason why investments aren't well taught in schools, the examples you gave are well stationed, the market crisis gave me my first millions, people shy away from hard times, I embrace them.. well at least my advisor does lol.
@@willister Sweden is often being underestimated but she is not just about IKEA or Saab or Volvo. They are more than that. You can say Sweden is a little giant considering their high tech and massive capitals. Although its population is just around 10 million, The country has enormous potential which can support to drive the entire EU economy forward. No wonder they have chabols with them, but I fancy their version is more reasonable when it comes to managing.
@@grandstrategy8987volvo isn't even swedish its been chinese for more than a decade now. Go check how much proportion sweden takes up in the whole european economy. There are plenty other big groups that are leading the european economy. That being said, its not an underestimation rather its the right estimation.
If you chaebols is untouchable, you have not heard about my country (CaM***). In here if you are rich enough, you drunk and drive, and then you hit some family. Father, son and daughter were all dead only mother survived. Because they are very rich, they pay the court around 20000$, and then released them in a few days. The court verdict is > "the car was not function properly."
As someone from an underdeveloped country, I don't understand why South Koreans have an issue with chaebols. Why be against something that made your country so great? I don't think the SK economy will survive any drastic change to chaebols.
Work ethic, culture, organisation and intelligence all things South Korea have fully displayed in moving from poverty to prosperity. Will Africans and Africa ever give us similar reasons for celebration? Let’s hope so, although I remain sceptical.
*The issue with Africa is brain drain. 1) People do not trust their corrupt governments so they settle overseas. 2)Private schools and opportunities are only for those with money.* *How many African immigrants are there in the world?*
Do you think South Korea's chaebols need to change? Why or why not?
they should not change, then they can destroy south korean economy
why dont u ask US first
Wall Street bankers quietly left the chat room.
First of all thank you for the great video I’ve been looking for an English language video on the chaebols for a while, and thankfully I finally found it.
I have done a bit of research on the chaebols, how they started and how they evolved into becoming what they are today, and the single thing that propelled them to becoming so big, is exports. So I think the question shouldn’t really be should they be reformed. You should allow them to evolve and expand as they see fit, because if they succeed they can grow the Korean economy even more exponentially, if they can’t they’ll depreciate and something else will come to take their place. Samsung particularly is like 20% of the entire Korean GDP, and they make 70% of their money from OUTSIDE Korea, so you should allow them to do what they see fits, if it works you expand the economy, if it doesn’t they’ll slowly decline and someone else takes their place, like in the history of business since the beginning of capitalism
if the US wants...then it will happen:)) lol, look at Japan
"Can South Korea Chaebols change" has the same energy as "Can American Big Companies stopped messing with the government and the people?"
Accurate
@@andiuptown1711Zuckerberg is far from the position of those elites.
I can see where you make the connection, but the Chaebols are what American companies would actually feel like in terms of political power.
@@andiuptown1711you're a fool if you think Zuckerberg is really an elite 😂
So yes. They can. If we FORCE them to. JUST LIKE CONSERVATIVES NEVER SEEM TO WORRY THAT THEIR CAUSES ARE HOPELESS.
Korea is a small country. It doesn’t have the market size such as the US or China to have diversification and the level of competition. So what you get is specialized corporations that monopolize a whole market segment. It’s similar to when the US was smaller and chaebols are comparable to the Carnegie’s, Vanderbilts and Rockefellers of the day
US was already pretty big whether in size or population when rockefellers and others built their fortune, they cornered the market because there were no anti-competition laws, it was a totally different era. Whereas in South korea its the government who helped built these chaebols in order to boost exports and build up the country after the destruction of Korean war and it did work, its just that chaebols have grown too influential now and unlike in the US where its Medium enterprises that make up the bulk of the economy, large korean companies play dominating role in the economy and as a result have unhealthy influence over the government
Corporate fiefdoms.
Sounds like Chinese logic thats based on nothing. Korea is a moderately sized country with a large wealthy population.
@@Wandrative Korea is small. I literally can travel all around the country using car within a day.
내수시장 운운하기엔 국내 4대 기업은 수출 대기업인 걸..?
Every countries got their own version of chaebol, it would never change unless there's an extreme change they couldn't adapt.
Communism xD
What about US?
@@tbraghavendran finance family in wall street like morgan etc (because usa is a capitalism country)
@@tbraghavendran Rothschild, gates, warren, bezos, etc
@@tbraghavendrannothing in the US is remotely comparable go the Korean groups. Can you imagine if Apple or Microsoft accounts for 20% of the US economy? Because that’s what Samsung is to South Korea. The US economy is way more diverse and competitive.
It's unlikely to change. The model has worked for S Korea.
if the US wants...then it will happen:)) lol
@@havencat9337America is the only reason South Korea exists otherwise it would just be another province under Kim Jung un
@@havencat9337Ah yes, blame America
It works until it's not
@@Mediocreinputthere's no way sk escaping poorness without this brand. they should thank them for that
No. They are untouch-chaebol.
Gosh
😂
They are not untouchable as they get arrested and jailed all the time.
@@skillbopsteryeah but they get acquitted and pardoned almost immediately, they also serve like a 1/5th of their sentences
Actually, most of founders of start-ups(like KAKAO, NAVER) have worked for Chaebol groups, then established their own company with the experiences, networking in Chaebol groups. As a Korean, I am sure that Korea would not have become this wealthy without the Chaebols.
The US did a true breakup at some point. The US did fine.
There should be some rules on horizontal business interests within the same company.
@@HKim0072the US did fine because there was no one to compete with back then, realistically who else did they have to worry about on the scale of the US back then? Britain? Germany? The US was the biggest economy in the world by the 1900s, everyone wanted to be in the US and they still do. Korea has a very different set of circumstances, like every country in the world, they decided to become rich this way, not every country takes that path. Korea is a very small population and market, compared to the other big countries, it’s like a drop in the bucket for countries like the US and China, even they can’t create other companies that can compete globally like the chaebols do they won’t do well economically, that’s the true problem of reforming the chaebols
@@SS-up5sc Is there any reason why Samsung should be selling life insurance?
And, be in the asset management business? That's where it gets really wonky.
Ma Bell did pure spin-offs. Would be really easy to force something like that.
If you are really a Korean, you would damn well know why our stock market is so shitty. Main reason of that is our stock market is a playground for Chaebols, not a free market at all
Breaking up these chaebols into smaller companies and these small firms may not have enough resources to compete with international competitors. South Korean government may have a tough time finding the delicate balance between anti-monopoly and competitiveness globally.
If you "help the economy" then suddenly you now have the right to infinity forever apparently.
Not only helps the economy but helps the military industrial complex that protects South Korea from not so nice neighbors. Samsung, Hyundai, Daewoo all had played a part in developing the tanks, warships, amd rifles to defend Korea
Chaebols, despite their vast scale, have managed to thrive primarily because their ownership is concentrated within a small number of family members. This concentration of ownership fosters bold decision-making, especially when it comes to exploring new business ventures, thanks to the strong ties and mutual trust among family members. In contrast, corporations led by salaried CEOs, who lack ownership stakes, often exhibit caution and are less inclined to pursue aggressive business strategies due to the fear of failure.
Because if those CEOs failed to deliver their promises, they will be asked to resign. How would anyone worked so hard in their entire life to reach to the top risk his/her position? They would try new ideas only when there is acceptance from major shareholders.
CEOs do have equity compensation
These oligopolies collude with each other to control supply and price
Fascinating. i tend to agree w you
The irony is the chaebols offer the best pay packages because they aren't just domestic brands and get revenue from outside of Korea.
why is that ironic? it's just logical. if ur going to smth, say it instead of just uttering gibberish.
@@melkor2024 Irony: a state of affairs or an event that seems deliberately contrary to what one expects.
Are there any positive PR pieces on chaebols? Most of the pieces are about their dominance and outsized and dangerous influence on the Korean economy.
@@HKim0072 what planet are u from lol. no positives? just look at a middle school textbook from the park chung-hee era
and I still don't see any "irony"
You're joking right?
I can't believe there are Koreans who are whitewashing the chaebols, because of monopoly of the chaebol, there could've been 100 people employed with 10K salary, and now only 10 people are employed with 20K. Does that help the whole society? Can average Koreans afford to eat watermelon and beef everyday?
Korean chaebols bring in money to Korea from exports. They just don't suck up all the value in their domestic markets but actually adds more to the economy through RnD investments. Huge difference from conglomerates in SE Asia where they just do telecommunications, hotels, and retail that is actually "easy" compared to manufacturing sector in a global scale.
True for my country, Thailand.
This is so true especially in Indonesia
Exactly right! CNBC never tells about this. USA is falling only because of this kind of "Moral Rightness".💀
@@govb123as a korean national i don’t understand why Asean governments let those Chinese descendants riches suck up the whole money in their homelands and manipulates locals.
And true for my country, Malaysia. You almost hv the whole SEA agree with you :)
My spouse is Korean and I travel often and I cannot help but admire how far KR has come within the last 50 years. Mind you MY and KR had the same starting point around 1970s/80s. My beloved Malaysia cannot be further apart now unfortunately 😢
The s. Koreans need to do some reform of the chaebol system but overall Koreans and the chaebols transformed South Korea . South Korea also successfully democratized and has functioning democracy even though they have these powerful families . South Korea should be an inspiration for countries undergoing brutal occupation and dictatorships.
Yes, change from one form of dictatorship for corporate dictatorship. Delusional
Paradoxically, the reason Korea was able to become a developed country was because of the innovation of the founders of large corporations. What if Samsung's founder had not entered the DRAM business, which was dominated by the United States and Japan? What if Hyundai founder and Chairman Chung Ju-young had not received an order to build a ship from the UK? What if POSCO's founder had not built a steel mill in Pohang, where he made his living through fishing? Perhaps Korea had an economic structure similar to Thailand, even though it received huge subsidies from the United States. But I'm not sure if this is still important in 2024.
Yeah but by birthrates they are a failing nations even more than the rest
These are just yet another example, of corporations being given whatever they want, because they serve the best interests for a capitalist society and market.
We all know, what horrible methods and inhumane practices are used, to make most of our devices/electronics etc, some of us may know, that these Chaebol families are using their families power, to do as they like, because they know, essentially they’re untouchable.
At what point, do our morals and values in life, became a factor?
South Korea has no choice but to be competitive in the global economy because it is sandwiched between dangerous countries like North Korea, China, and Russia who would not hesitate to use military force to impose their will on the country. So as a lesser evil, South Korea must grow a big capitalistic economy and use the money to fund a large military to protect its freedom
Korea has no other choice because it must protect itself from powerful neighbors like China Russia, NK. Otherwise it will end up like Ukraine, or repeat history from 1910.
Ironically, to protect its values and morals, South Korea must adopt questionable lesser evil, so it doesnt get conquered by North Korea.
These businesses offer better pay than the ones restricted to just domestic market. It's very easy to criticize, hard to replicate the same benefits corporations provide.
The only way for the economy to develop further in the best way possible is with diversification, fierce and fair competition, and a robust social net to give everyone a fair shot at opportunity.
In saudi Arabia there is only one Chaebol, the saudi family
Lmfao 😂
And the bin Laden family, they dominate the construction industry there
😂😂😂😂
😂😂😂
That's the reality
The power of chaebols in SK economy is massive. So a competition from China is disastrous for them as all private companies accounts only 40% of Chinese economy.
wht are you talking about? China went into shixhole and SK chabols which escaped in advance flourish like crazy now like Hyundai
Chinese competition is not something chaebols need to worry about. The image of Chinese-made products in Korea is not great and there have been problems with certain companies like Temu, etc. in terms of fraudulent listings, etc.
@@jiminswriter4209 but chaebols do not make most of their profits in Korea. The competition they will face from China - and the tide is rising already- is in the rest of the world…
@@olganikonova7103 China has cheaper labor, but a much poorer reputation. It will take a long time for it to catch up.
@@jiminswriter4209poorer reputation is overblown and china can make world class products. For example they have DJI in the drone sector while Korean Japanese and even American companies are totally absent in the drone arena.
actually, Korean conglomerates are doing fierce competition between them in every sectors in Korean market. Monopoly is very rare.
That's true. Samsung Semiconductor is still in a high position, but I think it is being pushed out little by little by SK Hynix with the recent emergence of HBM. Even though they are companies of the same nationality, the battle for market share is very fierce.
Koreans cars, phones, and appliances dominate global markets. This is all coming from a country without substantial natural resources. Korean economic system has clearly produced superior outcomes. People love to focus on the wealth gap but don't account for the average increase of wealth distribution because being equal with neighbors doesn't bring the same satisfaction as bringing down a neighbor who has much more than oneself.
Like the late Charlie Munger said, the world isn’t run by greed but by envy, that’s why even though the living standard is up by 100 times since the 1950s, it was still safer for me to walk in Los Angeles back then than now. Or something along those lines haha, true legend Charlie Munger RIP
Honestly korea has one of the lowest wealth gap.
if the US wants...
@@havencat9337they take?
Ah yes not being able to afford anything is greed, not desperation, where exactly did you get your degree?
Unlikely. The term chaebol is synonymous with its counterpart "zaibatsu" (derived from the same Chinese characters). The leadership's mentality and their influence in the economic and political spheres in both countries are nearly identical.
China also had 財閥 families sprawling up until communists disbanded them.
@@dirtiestharry6551啥鬼东西中国财阀是那些？你不会说共产党是财阀吧，共产党有接近1亿人口😂
@@dirtiestharry6551还有美国但是有资本寡头财阀财团，比如军工复合体，华尔街，石油，医药医疗金融法律等各个方面以及政治家族等。😂
"I reached out to multiple chaebols but none have replied to me"😂
I know, what the f was that. I asked multiple billionaires that are probably not busy running their businesses just so I could make video on youtube. Brilliant.
She is a CNBC reporter not some random influencer 😠
That's how reporters doing their job. Not making up their own assumptions delulu
CNBC has interviews with Musk, Bezos, Buffett etc. But yea, these guys are untouchable
@@XShollajLmao "hey can we interview you about how untouchable you guys are?. You're comparing random interviews with Musk and others talking about real business? These guys do domestic interviews about business all the time.
When did you have time to research in Indonesia about our chaebol too.
Just imagine if the government would have implemented a true "English" curriculum for all students.
Seoul / Busan could have stolen business away from HK instead of companies moving just to Singapore.
Singapore didn't become the destination for finance companies because they "speak better english" but because they are geographically better located and because korean legislation did not accommodate for such moves. the korean government is more interested in developing domestic manufacturing and not becoming a financial hub.
@@melkor2024 lol, British American Tabacco, VF and FedEx are all well known financial companies. HAHAHAHAHAHAH.
Do you even read the business news or just flame bad information on the internet?
_BAT significantly downsized its Hong Kong office where most of its Asia regional operations used to be located, and moved 44 Hong Kong-based staff to Singapore, including its regional director Michael Dijanosic._
_VF Corporation went first. In January 2021, the parent of fashion brands The North Face, Timberland, and Vans said it was moving its regional operations out of Hong Kong._
_FedEx plans to move Asia HQ, executives to Singapore from Hong Kong_
And, there are added benefits. My cousin's husband (native Korean) has worked in Malaysia / Vietnam for a Korean company. You think he's learning the local language? No, they speak English. It's easier to find qualified local people in SE Asia that speak English than Korean.
@@HKim0072 so how do those articles point to Singapore's superior language fluency being the cause of those companies' decision to Singapore over Korea? it's more about regulation and legislation than language proficiency. all of ur "evidence" on the language disparity between Singapore and Korea being the cause is presumptuous, and your example about ur cousin is irrelevant: who cares about the proliferation of English over Korean in a certain country, we are talking about English proficiency in two different countries.
Singapore is located at Malaka strait which is a gateway to China and Asia. There is a reason Brits developed them most among their many colonies. Singapore is like Suez Canal of Asia which is essential during Europe Asia trades
I love her. I love her post-it note graphics!
The chaebols success in reviving the South Korean economy is also a double edge sword. They brought the economy from one of the poorest to South Korea being the top 10 economy in the world. The problem is you literally are worked into the ground. You have no time for family and any time you are shamed into going on vacations. The workers are miserable, but you have to suck it up because if not then someone is going to take your job or find someone else to do it for you.
Why should it change? And why only on Korea?
Not only S Korea have a bigger company insider which rules the economy and politics society.. for the better country.. I am agree... They helping in deep senses understand.. development. Trade and public sector infrastructure..
They should have never allowed Hyundai merged to with Kia. It became a monopoly in non-luxury and commercial vehicles.
that would be ANTI-capitalist - for the government to subdue an M&A deal.. what are u talking about lol...
@@melkor2024 Then the US, UK and many European countries are also anti-capitalistic. Their regulators stopped a lot of acquisitions of big companies. The last big one was Adobe and Figma.
@@huckleberryfinn6578 The Adobe-Figma and Hyundai-Kia deals are very different in terms of what concerns the government. They intervene to stop monopolies which is attributable to the Adobe-Figma deal whereas with the Hyundai-Kia deal, it was to help the financial situation Kia was in. This merger did not suppress diversity of car manufacturing, nor was it expected because of their respective brandings. Hyundai-Kia is more in line with Ford-Lincoln or Swatch-Omega rather than a big company like adobe aqcuiring a smaller lesser known company. Compare apples to apples and not oranges.
@@melkor2024 I don't think you ever been to Korea. Almost every vehicle on the street is either Hyundai or Kia including commercial vehicles. There's no diversity of car manufacturers.
@@bigj324the prevalence of the two motor companies is irrelevant to our argument. If either Hyundai or Kia were to disappear, then that would be our problem - the merger didn’t affect the market share of either brands. Thus, it was not a monopolistic move.
Fyi: I’m Korean and I currently live in Korea lol
재벌이라는 말은 사실 일본 제국 시절 비슷한 기업집단을 가리키는 말에서 왔습니다 그 말은 자이 바츠라고 합니다
Same in US, Amazon,Microsoft,Apple,Aphabet(Google) etc.. they dominate
Note remotely comparable. US companies may dominate in their respective field and that’s it. Korean megacorps, on the other hand, dominate in ALL fields. Biggest company in the US by revenue is Walmart and its revenue accounts for 2.7% of the US gdp. Meanwhile, Samsung alone accounts for 20% of S. Korea gdp. Samsung not only sells electronics but they also build ships, sell life insurance, operates theme parks and resorts, runs banks, etc. That’s fucking insane.
Comparing American companies to South Korean chaebols is just stupid. Chaebols are significantly more powerful than those American companies.
@@kwtr1609Microsoft, Apple, Google, Nestle, Proto & Gamble, J&J etc.. they're monopolizing. S.Korean chaebol is nothing compared to them unless Samsung and Hyundai as they're now global companies
@@duerf5826 if you only compare the percentage it might not seem like it, but american ceos are practically not really different from the korean ones. Consider the influences they have in american economy. Idk why you guys deny it so much but if you actually look at the impact these american comapnies have, not much different
@@duerf5826i mean, in capitalist countries such as Korea or America, CEOs having unbelievable power is just natural. However America does it better than Korea when it comes to balancing the power
"Total combined assets of $3.7 Billion"?? What? That's gotta be a typo! According to Forbes as of Feb 2024, *Mong-Koo Chung* , chairman of Hyundai Motor -- South Korea's largest automaker, him alone has an estimated net worth of $4.8 Billion. And further more, *Jay Y. Lee* who is the executive chairman of Samsung Electronics and leader of the country's biggest conglomerate, is estimated to have a net worth of $11.1 Billion. So where did that $3.7 B figures come from? 😂
Honestly, without chaebols, SK would still be an impoverished country with no natural resources and very little farmable land
But if Samsung, LG, Hyundai children marry among themselves, they will create a permanent upper-class!
You talks as if chaebols were donated to SK by the almighty Murica
@@EugeneCHo-pi7tl Lmao I never said that. Chaebols were created by Park Chung Hee according to my parents
It's similar to saying we give you all online services free so now we own all information about you. The arguments against aforementioned situation is same as for chaebols.
in America we call them philanthropist
Ppl... Jaebol not chaebol. Chaebol(체벌) means physical punishment...
The pronunciation is in between the two.
Or Cebok
In fact, not jaebols but Jaebeols. jaebols은 재볼이잖아. 내 뺨이라구..
@@JohnLee-db9zt Yes it is
@@declinedtosignonstagnant5402 jaebeol은 재비올로 읽을 겁니다
The amount of power these chaebols have, just like the mafia
Chaebols are not likely to change from within. Rather, they will be forced to undergo transformation for their survival from competitive pressure from new market players. Think about how Emart is facing competition from Coupang
This is Great data, I pray that my Cousins in South K. Soul to be Kind to people that is Financially Stress., 🙏🙏🙏🙏🙏🙏
When you are in power, you will do all it takes to keep the power. No one will share. This is hard truths.
Given their hold on political and economic power, nothing is going to change unless the people really rise up. But most people are just to docile to do that. Instead they just have fewer and fewer children so in the end only these well off people are left. It is not just Korea. Just like the two party system in the US it will always be politics as ususal.
If it's in Russia 🇷🇺 western world will call them oligarch
Chaebols are not what those used to be. Nowadays those are mostly listed large conglomerates.
Korea big companies have so much way more superpower than other in Korea against goverment and people and society
At this point, these companies have become a source of pride ( and Revenue ) for Korea. Unless many more newer E-commerce companies step up , most Koreans would begrudgingly put with up these power hungry, financially corrupt Chaebols, in exchange for the money they bring in and the status symbol on the global stage.
It's both sides. The scale and size of the companies allow them to compete with global brands. That's great for the overall Korean economy. It's value added business that would never happen.
But, the scale and size of the companies make them dominate the local market. Really hard for smaller companies to flourish. Korea should be way more entrepreneurial, but the system prevents it.
Last time I checked Google owns 90% search business not only in US but Europe too. Should we breakup Google?
@@kimckawa Who said anything about breaking up these companies ? The brazen corruption is what irks most people. They always get away with any charges because of the power they hold.
@@avillageofbigheadsunfortunately, big companies holding massive power is a problem everywhere in the world. America, china, japan you name it. I see so many people talking like corruption is a problem only in Korea, but their corruption level isn't as high as people think it to be. There were only singapore and Japan in Asia that were cleaner than Korea. Idk what's gotten into ppl lately but they're doing pretty well despite having chaebols
have been following your signals and strategies for several months now and they are working.
There’s a difference between objectivity and cynicism. It is unfortunate that too many journalists believe that they are the same thing. People will not open up to you if you come at them with a sense of cynicism. So it is not surprising that this reporter had difficulty in finding chaebols to comment. There have been other stories where chaebols have commented. It is in response to a professional attitude, which this story lacks.
2:44 President Park Chunghee would be the right way to call him CNBC! Do your research. He's not just some random guy on the street! He's a very respected Korean President.
Chaebols are getting stronger by the day
If there was any chance to change them it would have been during the early 2000's
why not just state "conglomerates"?
Why? Are you allergic to Korean words, especially in the context of discussing Korea?
It invokes Eastern exoticism, which catches the attention of the audience, and the MSM then can frame the context to fit their own narratives. Chaebol as a label has pejorative connotations, which don't provide a full picture of what the entities they describe do or even are. Given how little Westerners understand about Korea, conglomerates would be a more informative word.
Because not all conglomerates are run by one family.
Only people who don't know anything about S. Korea say that chaebols are untouchable. What is truly untouchable is the labor union. The union at the Hyundai factory is stronger than at the Korean Hyundai Motor conglomerate.
Paradoxically, the reason Korea was able to become a developed country was because of the innovation of the founders of large corporations. What if Samsung's founder had not entered the DRAM business, which was dominated by the United States and Japan? What if Hyundai founder and Chairman Chung Ju-young had not received an order to build a ship from the UK? What if POSCO's founder had not built a steel mill in Pohang, where he made his living through fishing? Perhaps Korea had an economic structure similar to Thailand, even though it received huge subsidies from the United States. But I'm not sure if this is still important in 2024.
In short, South Korea Oligarchs
Sad to hear the professor is not optimistic for change. We can see change pushing hard on several fronts though; younger generations growing up with a wealth mindset are less dependent on flex culture and pleasing their parents. The current president is pissing off an entire generation of students. Change is coming, it's just a matter of how much force and at what time.
she's so well spoken!
The Chaebols don't need change imo. They're what allow Korean brand to dominate the global market relative to their smaller population size. The US and Chinese domestic markets for example are huge and can compete internally but if South Korea tried that their companies will have lower profits which means lower R&D to compete with other big global companies. Pooling all your resources in a handful of conglomeretes is better than having thousand of barely surviving mid-size businesses with low margins etc.
You can be profitable being a specialized manufacturer. I believe this is their model in Germany. It doesn't have to be vertically integrated, and certainly doesn't have to be corrupt / criminal.
But the problem is that there's an increase in competition from Chinese companies in every sector in South Korean industries. Especially shipbuilding, semiconductors, smartphones and vehicles. Remember, the Chinese economy is not completely dependent on the private companies.
To put into perspective how strong these Chaebols are. Samsung alone accounts for about 20% of Korea's GDP. Take out Samsung and the country will be done for.
How do you figure? There's still the rest 80% and Samsung takes up 16 percent not 20. The rest of the companies are also pretty big. Korea without samsung would still be richer than most of SEA countries
Will legacy media like CNBC ever change to provide content that doesn't defame and exploit outrage?
When you literally built the country's economy and the wealth it enjoys and still to this day remain the backbone of the country's economy , I feel like that's enough for you to feel different than the one's who do nothing but complain
@monipenny408nothing wrong with feudalism or neo feudalism as long as they're done effectively by a group of competent people
It wasn't them alone that built the country's economy, they got government handouts from tax payer money to jump-start their businesses. Rich people were happy to get free tax-payer money but don't want to give back.
I love how the reporter delivered the story. Such enthusiastic journalism
Man can a chaebol adopt me?
Getting rid of Chaebols is more difficult than getting rid of gay Korean pop.
Lol😂 , personal grudge with them
UMM WHATS THE DIFFERENCE BETWEEN THIS AND WHATS GOING ON IN THE US?
Can US’s untouchable chaebols change?
NO
lol, you never heard of Standard Oil? or Ma Bell?
@@HKim0072 That was decades ago. Now even more monopolistic powers. And what about wall street?
@@dabda8510 lol, what about Wall Street?
Not sure you are familiar with Korea.
You need to browse the Samsung wiki page and look at all their subsidiaries. It's nuts.
The US has very strong antitrust laws. We will regulate large companies, and shatter them if they get too big. Just the threat of government regulation caused Microsoft to slow down in the 90’s, giving Google a chance to form and rise.
Follow the news about doctors holding the patients hostage due to their ego being hurt with the increase of more medical students. The sense of entitlement in South korea is abundantly clear and shameful for the world to see. Add that to your coverage for a more honest view of south korean society.
Doctors represent 0.26% of the population yet you generalize the entire county to have that "sense of entitlement" - what a gross over-generalization..
You really believe those kind of power dispute only happens in Korea? What a clown 😂
This is AMAZING!! GREAT TRADING SESSION! Would love to get access to this knowledge, and hopefully have days like this!
11:40 seriously, are you kidding?
At least they are not like families owning entire countries in Arab countries
Thats the definition of monarchy
82 seems like a lot of chaebols, but in reality, many of them are derived from chaelbols. After the owner's death,the company is separated by the owner's descendants and siblings. Therefore, Samsung is now separated to Samsung, CJ, Sinsegae, Hansol, Joongang, and Bnf, which are ranked 1st, 10th, 9th, 67th, 51th, 72th respectively. This goes similar to Hyundai, LG, and the others, too. Additionally, as third generation owners started to manage, they are reducing the size and profesionalizing business areas. For example, Hanhwa(Korean chemical) aquried four defense and chemical subsidaries from Samsung.
I just want to say, now many chaebol in SK have a backer or controlled by big family from USA
These companies have put Korea on the global map, but they've become too monopolistic and the population has to suffer because of it. The USA has the same problem with large companies such as google and apple
I were hesitant to start trading, but your video gave me the confidence to finally take the first step. Thank you for the encouragement!
20 years from now: "How will S. Korea crack down on digital chaebols Kakao, Coupang, and Kakao?"
Crying in poorest😢 wish i was chaebol
4:56 He was assassinated by North Korean spy. Before him, his wife was assassinated on a different day in attempt at his life by North Korean spy. Pretty sad
South Korea are going through what the US did in the 1920s to 1940
5 trillion won? What? Samsung's market cap alone is like $364 billion (485 trillion won)
Chaebols who get emailed be like; why is this fly want to ask about us?👁️👄👁️
Well this is just like exactly how USA doing but in smaller scale. Look at how big company in USA do and what lobbying do to their law
And it need to be changed of course. If not then what is the point of democracy? The point of democracy is the power back to the people that means everyone is the same under the law. If not then it's the same as before democracy
I am grateful for your experience and knowledge in binary options trading.
There are different vetsions of chaebol in every country. Either the big business, local militia or the government play this role. I think atleast in case of Korea, they have transformed the nation into an economic powerhouse...
Why fix something that works so well for the country?
재벌을 영어로 chaebol? 우와 신기하네. 재벌은 우리나라에만 있는 개념인가보네
재벌은 원래 일본에서 만든 개념인데요. 전후 미군정 시절에 맥아더가 일본의 재벌을 해체시켰습니다. 그래서 공식적으로 일본에는 재벌이 없다고 합니다. 그럼에도 불구하고 사실은 우리나라의 재벌에 버금가는 영향력을 갖는 초특급 대기업들이 많죠. 그래서 사실 일본에는 여전히 재벌이 존재한다고 봐야하죠. 다만 문화적 특성상, 일본은 없는 걸 있는 걸로 만들고 있는 걸 없다고 우기기 때문에 공식적으로 일본인들은 재벌의 존재를 인정하지 않죠. 그러나 일본 최고의 기업인 미츠비시, 스미토모, 그리고 미즈호은행[제일권업은행이 그 전신]등은 역사적으로 "원조" 재벌의 후계자들이며 전전 일본사회에서 재벌이 갖고 있던 영향력에 버금가는 영향력을 현재도 여전히 일본 정/관계에 미치고 있죠. 대기업을 운영하는 방식도 놀라울 정도로 비슷합니다. 사실 한국사회와 일본사회는 까보면 정도로 많이 비슷하죠.
the reporter make it boring
Because it's the most boring country on the planet. What is there to do?
В Шанхае расположены крупная военно-морская база Восточного флота, судоремонтные предприятия Восточного флота, Второй военно-медицинский университет, Институт ядерных исследований, Шанхайский инженерный институт по разработке подводных аппаратов, Шанхайский центр управления космическими полётами, 57-й НИИ НОАК (Институт электронных и телекоммуникационных технологий), штаб Подразделения 61398[15][16][17]. Кого пугать могут
Making money is not the same as keeping it there is a reason why investments aren't well taught in schools, the examples you gave are well stationed, the market crisis gave me my first millions, people shy away from hard times, I embrace them.. well at least my advisor does lol.
To whom it may concern nick please let me in understand where this goes and when
They're untou-chaebol...😢
It will only change if capitalism & the bottom line are no longer the ideologies that dictate world policies.
Sweden has cheabol too lol
Ikea?
@@willister Sweden is often being underestimated but she is not just about IKEA or Saab or Volvo. They are more than that. You can say Sweden is a little giant considering their high tech and massive capitals. Although its population is just around 10 million, The country has enormous potential which can support to drive the entire EU economy forward. No wonder they have chabols with them, but I fancy their version is more reasonable when it comes to managing.
Wallenberg family the power of europe
@@grandstrategy8987volvo isn't even swedish its been chinese for more than a decade now. Go check how much proportion sweden takes up in the whole european economy. There are plenty other big groups that are leading the european economy. That being said, its not an underestimation rather its the right estimation.
@@grandstrategy8987sorry mate but sweden doesn't have any tech companies that are worth noting. They're all in Germany, france or Italy
If Korea was still under Japanese rule, this would have never happened.
Koreans created two dystopias on one peninsula
Samsung literally owns South Korea
they build sk , so consider them as a king like British monarch
I don't see anything wrong with this, this is in every developing economy i guess.
Nessa is a great presenter
Yes. I will make them change. Because they tried to swap me with one of them who escaped justice here.
If you chaebols is untouchable, you have not heard about my country (CaM***). In here if you are rich enough, you drunk and drive, and then you hit some family. Father, son and daughter were all dead only mother survived. Because they are very rich, they pay the court around 20000$, and then released them in a few days. The court verdict is > "the car was not function properly."
I'm not sure if this goes to Korea or where it's just what I know
As someone from an underdeveloped country, I don't understand why South Koreans have an issue with chaebols. Why be against something that made your country so great? I don't think the SK economy will survive any drastic change to chaebols.
Work ethic, culture, organisation and intelligence all things South Korea have fully displayed in moving from poverty to prosperity.
Will Africans and Africa ever give us similar reasons for celebration? Let’s hope so, although I remain sceptical.
*The issue with Africa is brain drain. 1) People do not trust their corrupt governments so they settle overseas. 2)Private schools and opportunities are only for those with money.*
*How many African immigrants are there in the world?*
The wolves are upset the sheep won't reproduce
- random wise quote -
This model has worked for South Korea so why change it?