Chaebol

Chaebol are Korean conglomerates which are characterized by strong family
control, authoritarian management, and centralized decision making.
Chaebol dominate the Korean economy, growing out of the takeover of the
Japanese monopoly of the Korean economy following World War II. Korean
government tax breaks and financial incentives emphasizing industrial
reconstruction and exports provided continuing support to the growth of
Chaebols during the 1970s and 1980s. In 1988, the output of the 30 largest
chaebol represented almost 95% of Korea's gross national product.