South Korea makes Chibols Economic Supermag?

Trending Chibols holds South Korea Economic Supermag? Do you know that large businesses in South Korea are often run by the same family? These are called Chebols. Chibols is large family business groups that have a profound impact on the country’s economy. Companies such as Samsung, Hyundai and LG are part of Chebols and are identified worldwide. Chibols played an important role in the rapid economic growth of South Korea. Samsung alone contributes more than 20% to the total export of the country, which is a very large part. Hyundai Motors Group contributes about 8% to the export of the country and works in areas ranging from vehicles to steel. The LG group has a strong presence in areas such as electronics and chemicals and the world market is very large. Chibols has developed new technologies through heavy investments and is working on millions of people in the country. However, Chibols also faced the allegations of corruption and abuse of power from time to time. Their economic power has also increased economic inequality in society, that is, rich and poor gap. Nevertheless, Chebols is considered the backbone of the South Korean economy and their future is related to the future of the country. Click here Life & Style Click for more stories Click here