Can South Korea’s untouchable chaebols change?

Do you think South Korea's chaebols need to change? Why or why not?

"Can South Korea Chaebols change" has the same energy as "Can American Big Companies stopped messing with the government and the people?"

Korea is a small country. It doesn’t have the market size such as the US or China to have diversification and the level of competition. So what you get is specialized corporations that monopolize a whole market segment. It’s similar to when the US was smaller and chaebols are comparable to the Carnegie’s, Vanderbilts and Rockefellers of the day

Every countries got their own version of chaebol, it would never change unless there's an extreme change they couldn't adapt.

Actually, most of founders of start-ups(like KAKAO, NAVER) have worked for Chaebol groups, then established their own company with the experiences, networking in Chaebol groups. As a Korean, I am sure that Korea would not have become this wealthy without the Chaebols.

No. They are untouch-chaebol.

The irony is the chaebols offer the best pay packages because they aren't just domestic brands and get revenue from outside of Korea.

It's unlikely to change. The model has worked for S Korea.

Chaebols, despite their vast scale, have managed to thrive primarily because their ownership is concentrated within a small number of family members. This concentration of ownership fosters bold decision-making, especially when it comes to exploring new business ventures, thanks to the strong ties and mutual trust among family members. In contrast, corporations led by salaried CEOs, who lack ownership stakes, often exhibit caution and are less inclined to pursue aggressive business strategies due to the fear of failure.

If you "help the economy" then suddenly you now have the right to infinity forever apparently.

Korean chaebols bring in money to Korea from exports. They just don't suck up all the value in their domestic markets but actually adds more to the economy through RnD investments. Huge difference from conglomerates in SE Asia where they just do telecommunications, hotels, and retail that is actually "easy" compared to manufacturing sector in a global scale.

In saudi Arabia there is only one Chaebol, the saudi family

"I reached out to multiple chaebols but none have replied to me"😂

The only way for the economy to develop further in the best way possible is with diversification, fierce and fair competition, and a robust social net to give everyone a fair shot at opportunity.

The power of chaebols in SK economy is massive. So a competition from China is disastrous for them as all private companies accounts only 40% of Chinese economy.

These are just yet another example, of corporations being given whatever they want, because they serve the best interests for a capitalist society and market. We all know, what horrible methods and inhumane practices are used, to make most of our devices/electronics etc, some of us may know, that these Chaebol families are using their families power, to do as they like, because they know, essentially they’re untouchable. At what point, do our morals and values in life, became a factor?

If it's in Russia 🇷🇺 western world will call them oligarch

The s. Koreans need to do some reform of the chaebol system but overall Koreans and the chaebols transformed South Korea . South Korea also successfully democratized and has functioning democracy even though they have these powerful families . South Korea should be an inspiration for countries undergoing brutal occupation and dictatorships.

Koreans cars, phones, and appliances dominate global markets. This is all coming from a country without substantial natural resources. Korean economic system has clearly produced superior outcomes. People love to focus on the wealth gap but don't account for the average increase of wealth distribution because being equal with neighbors doesn't bring the same satisfaction as bringing down a neighbor who has much more than oneself.

Just imagine if the government would have implemented a true "English" curriculum for all students. Seoul / Busan could have stolen business away from HK instead of companies moving just to Singapore.