SEOUL: Samsung’s corporate car-crash over its exploding Note 7 smartphones has shone a spotlight on South Korea’s “chaebol” business culture – the family-run empires whose rigid corporate structure and opaque governance style aren’t always best suited to a crisis.
Giant conglomerates like Samsung and Hyundai were widely credited with driving the stellar growth that transformed South Korea from a war-ravaged backwater to Asia’s fourth-largest economy in a matter of decades.
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