Business Asia, February 15th, 1999
South Korea's conglomerates played a key role in the nation's growth-and contributed to Seoul's dramatic fall in 1997. A report by McKinsey examines what went wrong-and what the chaebol must do to survive into the new millennium.
South Korea's omnipresent conglomerates were the heart that pumped the nation's miracle economy from the 1960s into the early 1990s.
Similarly, however, the giant chaebol are a crucial factor in a South Korean economy that has been haemorrhaging since Asia slipped into the financial mire in 1997.
There are few more telling symbols of Korea's modern economic histo...
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