There is no "developed country" like South Korea where the chaebol control all industries and the chaebol control all industries.
South Korea's Samsung, Hyundai, LG, and SK are still controlled by family firms today. Samsung is controlled by the Lee Kun-hee family; Hyundai Group is a little more complicated. Hyundai Motor and Hyundai Heavy Industries are controlled by the Chung brothers respectively. LG group is controlled by the Koo Family; SK group is in the hands of the Choi family. Take Samsung Group, for example, its subsidiaries include more than 70 enterprises such as Samsung Electronics, Samsung C&T, Samsung Life Insurance, etc. These enterprises are owned by The Samsung family. Samsung Electronics, as the flagship of the group, accounts for 13.7% of South Korea's GDP in sales.
Korea Hyundai Group
Hyundai is one of the top 10 chaebols in South Korea, ranking 36th among the world's top 500 companies. Although everybody’s impression of South Korean Hyundai stays in the car. But in addition to the modern car, the South Korean Hyundai owns modern civil engineering, modern construction, and modern heavy industry, etc. Chung Ju-yung, the founder of Hyundai, has created the modern car, the modern civil engineering and modern construction company from 1946 to 1951. In the 70 s, he has also established the modern heavy industry company, so as to make Hyundai group a comprehensive enterprise group.
Samsung group
Currently, Samsung is the largest conglomerate in South Korea and is praised as one of the most popular companies in the world. It has 26 subsidiaries and several other legal entities and has set up nearly 300 legal persons and offices in nearly 70 countries and regions with a total staff of 196,000. Its business involves electronics, finance, machinery, chemistry, and other fields.
Three companies of the group were listed in the fortune global 500 in 2003, among which Samsung Electronics ranked 59th, Samsung Products ranked 115th, and Samsung Life ranked 236th. In 2003, Samsung group had a turnover of about 96.5 billion US dollars and a brand value as high as 10.85 billion US dollars, ranking 25th among the world's top 100 brands and becoming the fastest-growing brand for two consecutive years.
LG group
LG Group was founded in 1947 in Seoul, South Korea. It is an international enterprise group leading the world's industrial development. It is an international enterprise group with a history of 50 years and its annual sales up to 73 billion US dollars. It has 120,000 employees worldwide and leads the world's industrial development. LG group currently has more than 300 overseas offices in 171 countries and regions.
Its business fields cover chemical energy, electronics, and appliances, communications, and services. After more than 40 years of efforts, it has become a large multinational corporation with scientific research, production, sales, and service network covering every corner of the world.
Looking back at the development history of LG Group, which is also the post-war development history of South Korea, LG group has seized the opportunity of the times, and has become one of the top 10 chaebols in South Korea, due to its business philosophy of "creating value for customers" and "respecting people" in response to national demands.
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