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Question

Business conglomerates have different names in different countries. Which country’s conglomerates are called ‘Chaebols’ ?

This question was previously asked in
UGC NET 2014 Paper 1 Question Paper (28-Dec-2014)
The correct answer is

South Korea

Chaebols are large, family-controlled, highly diversified business conglomerates of South Korea, such as Samsung, Hyundai, LG and SK. They grew with strong government support from the 1960s.

In Japan, the pre-war family groups were called zaibatsu, and the post-war bank-centred groups of interlinked firms are called keiretsu.

German groups are usually described as Konzerne, and in China large state-linked business groups are called qiye jituan. None of these is called a chaebol.

Hence, South Korea.

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