Open AccessAdvantages And Shortcomings Of Korean Chaebols
Author(s) -
Hong Y. Park,
Geon-Cheol Shin,
Sung Hahn Suh
Publication year - 2011
Publication title -
the international business and economic research journal/the international business and economics research journal
Language(s) - English
Resource type - Journals
eISSN - 2157-9393
pISSN - 1535-0754
DOI - 10.19030/iber.v7i1.3210
Subject(s) - chaebol , diversification (marketing strategy) , business , financial crisis , keiretsu , economics , finance , corporate governance , marketing , macroeconomics
The prevalent form of business organizations in Korea is a chaebol. The chaebol is a diversified conglomerate. This paper addresses the following issues concerning Korean chaebols: 1) reasons for diversification, 2) advantages and shortcomings of chaebols, 3) issues facing Korean chaebols, and 4) chaebols managing the crisis and making reforms. We found that Korean chaebols managed to learn from the economic crisis and made successful reforms.