What is the Korean term for a large family-controlled business group such as Samsung, Hyundai or LG?
Answer and explanation
Correct answer: A. Chaebol
- Step 1: The government supported selected firms with cheap loans in the 1960s and 1970s. Step 2. Family-controlled conglomerates were the result. Answer: Chaebol. Why not the others: The other three terms belong to Japan and the Soviet Union.
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