The inexhaustible capacity of chaebols in South Korea
In the first half of the twentieth century, South Korea was an agrarian Japanese colony. Then it became a battlefield.
Today, an economic miracle has happened to South Korea’s agrarian economy, because food companies, commodity companies and textile companies have become… technological giants in a matter of decades. And in 2024, South Korea overtook Finland, the Netherlands, Germany and Denmark in the Global Innoation Index, going from 6th to 4th place. This is the biggest jump the country has made among the top 10 most innovative economies in the world.
One of the pillars of this development is the chaebol structure, which refers to a system of business conglomerates that originated in South Korea in the 1960s and created global multinationals with huge international operations.
