Facts About ‘Rich Family’ or Chaebol In Korea!

chaebol in korea

In this article we will share to you all you need to know about Wealthy family as known as Chaebol in South Korea. Some of you might wondering if the chaebol we seen in korean dramas are actually having the same lifestyle as in the real life, so let’s dive right to it.

Chaebol In Korea

chaebol in korea

In South korea, Chaebol means a super wealthy family that owns a huge capital of multi million dollars company. When we talk about rich in Korea, you might already knew the word Buja (부자), which simple means rich, usually refer to a person with lots of money or high income like doctors, CEO or higher position in company. 

Chaebol is different than Buja (부자), while the person is definitely rich, yet chaebol is not just rich, but super rich, and Chaebol itself is much more refering to a system of which a family own a huge capital of multi million dollar company just as we saw in many korean dramas played by Lee Min Ho.

Some Chaebols company you might already knew or even use their products in Korea are Samsung, Hyundai, SK, LG and Lotte Group.

Chaebol Culture

chaebol in korea

Wealthy Conglomerates with capital more than 50% in a major company are classified as Chaebols, even if they share the capital with their family member.

Chaebol In Korea Lifestyle

chaebol in korea

Just like in korean dramas, most of chaebols has lots of personal employees work for them such as butlers and maids at home as seen in dramas. Most of chaebol company has private jets that they use for business purpose.

One thing in common about chaebol family is that most of them have high degree in education field with most of them are graduated from top university abroad.

Chaebols In Korea

chaebol in korea

Here’s some chaebol in south korea that you might already know as they’re having major corporation in south korea and internationally.

Lee Jae-yong (이재용)

chaebol in korea

Lee Jae-yong is a well known person in korea, he is a vice chairman of Samsung Electronics and president of Samsung Group.

Lee Won-ju (이원주)

chaebol in korea

Lee Won-ju, daughter of Lee Jae-yong, the vice chairman of Samsung Electronics and president of Samsung Group.

Lee Boo-jin (이부진)

chaebol in korea

Lee Boo-jin is the CEO of Hotel Shilla, and Lee Jae-yong, vice chairman of Samsung Electronics and president of Samsung Group’s younger sister. She also joined Samsung Group in 1995 and became CEO in 2010.

chaebol in korea

She’s well known for her brave history in which she married Im Woo Jae, a regular employee at Samsung C&T that came from a normal family. Just like in korean dramas where the chaebol family against this type of marriage, she faced it and eventually marry with her husband, yet it ended afterwards.

Im Se-ryung (임세령)

chaebol in korea

Im Se-ryung is the vice chairwoman of Daesang Group and ex-wife of Lee Jae-yong, Samsung Vice Chairman

chaebol in korea

She has been dating Actor Lee Jung-jae, Squid Game main actor, for about 7 years. She’s famous for being fashionable and wearing super expensive bag and accessories.

Chung Eui-sun (정의선)

chaebol in korea

Chung Eui-sun became the second chairman to Hyundai Motor Group after rise up and take his father position in 2020. He is the owner of Jeonbuk Hyundai Motors and KIA Tigers.

Chaebols in South Korea

How do you think about chaebol culture in South Korea. Do you want to get married with one of the chaebols wherever you are? Let me know in the comment sections below!

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