Statista trend report on family-owned conglomerates and the rise of the startup ecosystem in South Korea
South Korean family-owned conglomerates, known as chaebols, such as Samsung, LG, and Hyundai, have spearheaded South Korea’s economic development and shaped the corporate landscape. However, the role of these chaebols has been increasingly questioned in recent years, and with the rapid growth of the South Korean startup scene, hopes have been raised that new players could replace the chaebols and reignite economic growth.
This report explores the impact of family-run conglomerates on the South Korean economy, examines the problems and challenges of the traditional growth model, and evaluates whether large startups can change and reshape the existing economic structure, ultimately offering South Korea an alternative growth model.
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