chaebol

In South Korea, the collusive links between chaebol families and powerful politicians have recently triggered a string of scandals, culminating in the impeachment of a former president and the arrest of Samsung's family leader for bribery.

Mr. Lee, South Korea’s wealthiest person, according to Bloomberg News, is a scion of the family that founded Samsung, the largest of the family-run conglomerates known as chaebol that have transformed South Korea into an export superpower and influence nearly every facet of society.

Samsung is the largest and most successful of the South Korean conglomerates known as chaebol.

Some South Koreans speak proudly of the chaebol for having helped transform the country from a war-ravaged agrarian economy into a global export powerhouse.

Because of their political heft, the chaebol, as these families are known, have long been a matter of immense public interest.