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The origins of the chaebol system in South Korea come as a consequence of the Korean War. The war resulted in much destruction and halted industrial production, which led the government to print money to pay for the war and meet the requirements of the United Nations forces for the Korean currency, [ clarification needed ] all of which caused ...
The Korean debt problem got worse when one of the Chaebols, called Hanbo, collapsed with US$ 6 billion debt. There were allegations that banks were pressurized by the government after being bribed by Hanbo. The situation worsened further when another Chaebol called Kia filed for bankruptcy.
Chaebol (alternatively Jaebeol) refers to a South Korean form of business conglomerate. The Korean word means "business group" or "trust", and is often used the way "Big Business" is used in English. The Korean word means "business group" or "trust", and is often used the way "Big Business" is used in English.
The yangban (Korean: 양반; Hanja: 兩班) were part of the traditional ruling class or gentry of dynastic Korea during the Joseon period. The yangban were mainly composed of highly educated civil officials and military officers—landed or unlanded aristocrats who individually exemplified the Korean Confucian form of a "scholarly official".
Every Korean chaebol business was started by a family group and 70 percent of chaebol [citation needed] are still managed by family members, and in order for the power and standing of these groups to grow stronger, many chaebol form alliances through marriage, with examples including Samsung and Hyundai. Many political affiliations are formed ...
A French court found all 51 defendants guilty on Thursday in a mass rape case including Dominique Pelicot, who repeatedly drugged his then wife, Gisele, and allowed dozens of strangers into the ...
South Korean IMF; Date: 02.11.1997: Duration: 1997-2001 (3 Year) Location: South Korea: It was a case in November 1997 under the Kim Young-sam administration that Korea received funding from the International Monetary Fund (IMF) due to a lack of foreign exchange.
A Canadian woman was arrested after trying to smuggle over 20 pounds of methamphetamine through a New Zealand airport, authorities said. The illicit drugs were disguised as Christmas presents, New ...