Issues Concerning Succession in the Korean Chaebol

Soyeon Lee
2015 Journal of Asian Management Studies  
The Korean business conglomerate (called chaebol) is characterized by common ownership and management. Conventionally, the owner-managers, who are the controlling shareholders, possess absolute right of control, and all authority is concentrated with them. Furthermore, this right of control is also maintained across the second-generation managers (as well as the third-or fourth-generation managers, depending on the group) through inheritance. Therefore, in a chaebol, inheritance is an important
more » ... process to succeed and maintain right of control, and it has been employed through various means. However, the methods by which these inheritances took place were not legitimate, and there have been frequent instances where they have triggered a variety of social problems. Given this backdrop, this research aims to identify the basis of the problems related to inheritance in a chaebol and discuss the causes of their origin.
doi:10.20784/jamsjsaam.21.0_125 fatcat:ufcwhbb6wrewrljcrf6mi44dg4