This chapter argues the dominant presence of the chaebol not only engenders practically normalized distortions in the market economic order and its regulatory and legal principles but also induces widespread administrative, political, and even judiciary corruptions. As a combined outcome of these structural irregularities, the liberal systemic order has incurred fundamental legitimation crises in the economic, social, and politico-legal aspects. If seen in the class perspective, the chaebol, as South Korea’s mainstream bourgeoisie, have been responsible for the complex and chronic distortions of the nation’s liberal order, and thereby contradict (Western) liberal modernity’s historico-societal foundation of bourgeois civility and autonomy. South Korea’s liberal (and, currently, neoliberal) industrial modernity without liberal bourgeoisie—or, conversely, its state capitalist industrial modernity with state-dependent (and increasingly state-parasitic) (il)liberal industrialist class—has necessitated nearly permanent fundamental contradictions, instabilities, and conflicts in the nation’s social, politico-legal, as well as economic order. The unprecedentedly rapid and pervasive neoliberalization of South Korea and its incomparably detrimental social, economic, and even politico-legal effects can be meaningfully understood only by paying careful attention to the chaebol system’s organizational and financial irregularities conflated with democratic struggles of workers, activists, and intellectuals.