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The Chaebol System — How Samsung, Hyundai, and LG Built and Sometimes Threatened an Economy
This deep dive examines South Korea's unique system of family-controlled corporate conglomerates, known as chaebol, which have driven the nation's export-led growth. It explores the history of state-directed credit allocation, the complex governance networks of circular shareholding, and the systemic risks that culminated in the bankruptcies of the 1997 crisis. Finally, it addresses modern corporate reforms and the ongoing debate surrounding their dominance.
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