Sentences with word «chaebol»

«The responsibility to the government and to national development is much stronger for Korean chaebols,» she added, highlighting how the close ties between the government and local conglomerates are increasingly being questioned today.

For chaebols then, it's likely a case of being caught between a rock and a hard place: The companies have to deal with the fallout from the recent scandal, as well as follow through with the promises they had made in the lead up to the Olympics.

Even though North Korea's participation in the games hogged the spotlight in the lead - up to the event, the suspension of Jay Y. Lee's five - year prison term for bribery has raised questions more recently over chaebol reform in South Korea.

Shockingly, we're not talking about Samsung here, although the market - leading chaebol is currently planning to follow ZTE's suit in a year tops.

With their dominance of the domestic economy, chaebols like Samsung, LG and Hyundai had the resources to compete internationally.

For the last several decades, the public authorities in South Korea have been run in close connection with chaebol — large, family - controlled business conglomerates that dominate the economy and the domestic market.

The trouble started when Jay Y. Lee, the son of the coma - bound chairman of the Samsung chaebol, started to consolidate power over Korea's biggest company.

When he took office in 2017, South Korean President Moon Jae - in promised to work to curb the influence of founding families of the country's big chaebol, or huge conglomerates like Samsung, Hyundai and Korean Air that dominate the South Korean economy.

South Korea's chaebols stand to gain from sponsoring the Olympics, but the games are also tricky terrain to navigate.

«The verdict reminds Koreans of the necessities for fundamental chaebol reform and thus may provide momentum for drive for the reform,» said Park Sangin, a professor focusing on corporate governance at Seoul National University.

Despite those claims, several chaebols contacted by CNBC indicated they didn't encounter any such ambivalence when it came to sponsoring the games.

Like other corporations that sponsor the Olympics, export - oriented chaebols participating as sponsors during the games stand to gain by increasing their visibility on a global platform.

For foreign investors, it's key to understand how the system is stacked in favour of the giant chaebols.

He's not the first chaebol leader to be convicted for corruption.

A direct consequence of this structure is that the South Korean society has been shaped in a way that caters to, rather than challenges, chaebol domination.

The production of the old 48 - layer V - NAND chips will ramp up simultaneously with the new offerings as the Seoul - based chaebol expects increased demand for both in the near term, the firm said.

When all is said and done, I expect the Galaxy Gear will be looked back upon as a rough first draft that helped the Korean chaebol steer a better course en route to the goal of producing a real smartwatch.

Although Samsung skipped the traditional year - end introduction of new mid-range Galaxy A Android handhelds, the Note 7 - hurting chaebol couldn't wait until CES 2017 to take the wraps off those three oft - leaked «stylish, powerful and practical» non-flagship models.

It started with Google Wallet which then turned into Android Pay and then it was facing competition from Apple Pay but then Samsung wanted to get in with the action, so it bought a startup and released Samsung Pay and then LG had to give mobile payments a try because if chaebol number one can do it, why not number two, but then hold on a second, Walmart's here to be its own beacon and now what, Target?

Google, though, may be looking at the current chaebol to produce screens for an upcoming Pixel device.

Behind South Korea's high - tech developments are 45 large chaebols — a term that combines the Korean words chae (wealth) and bol (clan)-- family - run large industrial conglomerates that are incriminated with governance transgressions.

They tackle these corruption cases with a «tell me something new, not the same old, generational chaebol / political corruption suits please» attitude.

Lee Myung - bak is the fifth president to be arrested for taking chaebol bribes and abusing his power while in office.

Unfortunately, the market - leading chaebol is once again unlikely to be able to adopt a screen - embedded fingerprint reader.

Hyundai owns about one - third of Kia through a complex web of South Korean chaebols, and combined they are now the fifth - largest automaker, after Toyota, Volkswagen Group, and General Motors.

Experts said the games are tricky terrain for chaebols to navigate given the recent corruption scandal that erupted in South Korea.

The dispute stems from 2015 when Elliott took on the Samsung Group, Korea's biggest «chaebol» family conglomerate, to oppose the $ 8 billion merger of two Samsung affiliates but lost that battle.

Driving South Korea's ascent has been its powerful conglomerates, known as chaebols.

Chaebols, Korean conglomerates that are typically family - controlled, played a significant part during South Korea's rapid industrialization, and have historically pitched in whenever mega-events — such as the 1998 Summer Olympics or the 2002 FIFA World Cup — were hosted by the country.

The political scandal last year meant that some chaebols were «not [in] a great mood» when it came to promoting the Olympics, said Sung - bae Roger Park, an associate professor at Hanyang University's department of sports industry.

The bid to host this year's games, first initiated by the regional Gangwon Province government, was successful after three attempts of bidding in part due to the involvement of the national government and chaebols.

Even if they weren't willing to participate in the games, chaebols were still «kind of forced» to participate in the event taking place on home soil, Park told CNBC.

The chaebols, which operate in varied business segments, also stood to benefit from construction activities taking place before and after the games, as well as tourism dollars generated during and even after the Olympics come to a close, experts said.

South Korea's decision to invest in heavy industry — including shipbuilding, automobiles, steel, and electronics — and to put much of the nation's productivity under the control of large industrial groups, or chaebol, reflected government policies that mimicked Japan's zaibatsu — similar groups that controlled much of its economy through the end of World War II.

The dealmaking shows the limits of measures designed to protect independent investors and how the wider system is stacked in favour of the chaebols.

Given the central role of the chaebols in South Korea's economy, this growing scandal could well harm economic growth.

In our view, newly elected President Moon Jae - in is likely to deliver fiscal stimulus, work to begin to reform the anti-competitive and opaque practices of powerful conglomerates known as «chaebols» and move to normalize economic ties with China.

Such a protest by employees of a chaebol, the family - controlled big businesses that dominate the South Korean economy, is rare.

The verdict could add impetus to new President Moon Jae - In's campaign pledges to reform the chaebols.

The government of Korea has been a big shareholder in the chaebols, and they are pushing them for reform now: Breaking up businesses, sell non-core assets, pay out higher dividends.

I'd say Samsung (SMSN 1149 0.52 %) Electronics and generally the Korean chaebols.

C - Lab or Creative Lab is the chaebol's in - house initiative that gives employees time off to work on their most innovative ideas.

The two chaebols are expecting to good fiscal quarters this time around and the markets are expecting them to beat their expectations.

For what it's worth, DJ Koh, the head of the chaebol's lucrative mobile business, confirmed in yet another interview on the heels of the Galaxy S9 announcement that a foldable Galaxy product is coming... eventually, and the project's long - reported delays are in fact a good thing.

It's another big barrier that currently keeps Qualcomm stuck on the chaebol's flagship Galaxy smartphones.

At the time of its release, it became clear that the Korean chaebol was not planning to deviate from its established hardware design, relegating the power and volume buttons to the phone's rear in order to keep the sides thinner.

An Apple Watch without 3G or LTE is not good news for carriers to latch on — they've been stocking the Samsung Gear S2 for a while to the chaebol's betterment.

Both stateside and in the chaebol's homeland, the two phones will technically only be released on Friday, March 16, but early Korean adopters have actually started to receive their units a few days ago.