Word: chaebols
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...Ahmadinejad. The Revolutionary Guards leadership has a vested financial interest in isolating the Islamic republic from the West - and focusing its sights eastward toward places like China. Indeed, some observers believe the IRGC's economic functions may eventually turn it into an entity like South Korea's government-supported chaebol or multinational conglomerates that were key to that country's modernization, albeit in controversial ways...
...after he was elected, he not only signed up for a $57 billion IMF package, he embraced even more sweeping reforms than the IMF called for. By the time the storm had passed, some of South Korea's biggest companies had disappeared. Mighty Daewoo, one of the Big Four chaebol, was dismembered and its founder prosecuted. But others used the crisis as a spur to tough action. Samsung Electronics boss Lee Kun Hee, his back to the wall, browbeat top executives into rethinking the company. A decade later, Samsung is a global powerhouse with design and technology sophistication that...
...arrest of one of Korea's most prominent tycoons sent tremors through the boardrooms of the country's chaebol, the powerful, family-run conglomerates that have periodically been targeted by government prosecutors over allegations of self-dealing and influence peddling. Chung has admitted no wrongdoing, but his arrest looks likely to knock Hyundai's international expansion plans off course. The investigation into Hyundai has already delayed the construction of an auto plant in the Czech Republic, and Kia postponed the groundbreaking for a factory...
...drive sales, softening both profit margins and its brand image. For example, LG sees 5% profit margins on its mobile phones; Samsung earns in excess of 20%. Nor does it help that LG Electronics is a member of one of South Korea's mammoth, family-controlled conglomerates, called chaebols, which are infamous for mysterious and convoluted business practices. In February the company broke a promise to investors by pledging $130 million to buy bonds of a nearly bankrupt affiliate, credit-card issuer LG Card. Kim says his company joined in because a failure at LG Card would have damaged...
...drive sales, softening both profit margins and its brand image. For example, LG sees 5% profit margins on its mobile phones; Samsung earns in excess of 20%. Nor does it help that LG Electronics is a member of one of South Korea's mammoth, family-controlled conglomerates, called chaebols, which are infamous for mysterious and convoluted business practices. In February the company broke a promise to investors and pledged $130 million to buy bonds of a nearly bankrupt affiliate, credit-card issuer LG Card. Kim says his company joined in because a failure at LG Card would have damaged...