Investopedia explains 'Chaebol Structure'
A charge often leveled against the chaebols is that they have impeded development of small and medium-sized businesses in South Korea, creating massive imbalances in the economy. While the South Korean government has made occasional attempts to curb the power and influence of chaebols over the years, these efforts have met with mixed success.
While the chaebol structure is often compared with Japan's keiretsu business groups, there are some fundamental differences between the two. Chaebols are generally controlled by their founding families, while keiretsu are run by professional managers. Chaebol ownership is also centralized, while keiretsu are decentralized.
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