Post-crisis Restructuring of Chaebols

Korean business groups, commonly referred to as chaebols, are collections of legally independent companies that operate under shared family ownership. Between 2000 and 2024, following the Asian Financial Crisis, chaebols underwent significant structural transformations. Many engaged in spinoffs of non-core or subsidiary businesses, driven by generational succession and regulatory pressures. Additionally, numerous chaebols transitioned to holding company structures, enhancing governance transparency and accountability. These changes reflect the chaebols’ ongoing adaptation to Korea’s complex regulatory and market environments.