Chaebols are large, family-controlled South Korean conglomerates that dominate the country's economy.
Major Chaebols
| Chaebol | Revenue | Key Companies |
| Samsung | ~$240B | Samsung Electronics, Samsung SDI, Samsung Life |
| Hyundai | ~$110B | Hyundai Motor, Kia, Hyundai Steel |
| SK | ~$100B | SK Hynix, SK Telecom, SK Innovation |
| LG | ~$60B | LG Electronics, LG Chem, LG Energy Solution |
Impact on KOSPI
The top 5 chaebols account for ~50% of KOSPI market cap. Samsung Electronics alone is ~20%.
Governance Concerns
Chaebols face criticism for:
- Complex cross-shareholding structures
- Family members in key positions despite small ownership
- Minority shareholder oppression
- Related-party transactions
These issues contribute to the 'Korea Discount' — Korean stocks trading cheaper than global peers.