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2011•International Business & Economics Research Journal (IBER)Open access

Advantages And Shortcomings Of Korean Chaebols

Hong Y. Park, Geon‐Cheol Shin, Sung Hahn Suh

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Abstract

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.

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What this paper is about

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.

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Available abstract

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.

Key concepts: Chaebol, Diversification (marketing strategy), Business, Financial crisis, Keiretsu, Economics, Finance, Corporate governance

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