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Economy Economic Conditions
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Korea, the ʺChaebol republicʺ

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  • Korea, the ʺChaebol republicʺ
  • Asian Century Institute
  • Asian Century Institute


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Title Korea, the ʺChaebol republicʺ
Similar Titles
Material Type Web-Links
Author(English)

Asian Century Institute

Publisher

[Toronto, Canada] : Asian Century Institute

Date 2015-09
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Economy < Economic Conditions
Economy < Economic Administration
Holding Asian Century Institute
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Abstract

Heather Cho, Vice-President of Korea Air, provoked a storm when she delayed the takeoff of a Korean Air flight in December 2014, over her dissatisfaction with the service of macadamia nuts. This ridiculous incident reminded the whole world that Korea is not a people's republic. It is still a "chaebol republic". Today, the dominant role of Korea's chaebol (large and sprawling, family-controlled conglomerates) in the nation's politics, economy and society is seriously questioned by many -- and not just because of the "nutgate" incident. But it is still without question that the chaebol played a crucial role in Korea's rags-to-riches development miracle.