Earlier this week I was reading an article about Samsung. I’m sure you all know Samsung… they are one of the biggest and most powerful technology companies in the world. But what you might not know is the Samsung is still, in many ways, a family company.
Lee Jae-young is the chairman of Samsung and the grandson of its founder. His father was also chairman of Samsung, and his sisters are all involved in different parts of the Samsung businesses. His mother is South Korea’s richest woman, and his cousins include the chairman of the CJ Group and the CEO of Shinsegae Group (both massive family-controlled companies).
South Korea’s economy is dominated by these family conglomerates, known as Chaebol. Samsung is the largest, but you will know others like LG and Hyundai.
In any case, I was reading an article about Samsung, its chairman Lee Jae-young, and who will take over the company next. It reminded me of my days studying politics at the School of Oriental and African studies in London. In fact, I took a course on the Political Economy of Northeast Asia, and Korea’s Chaebol took up a lot of my reading.
So today I thought I would talk a little about Chaebol, Samsung, and South Korea’s economy!
Unlock the full episode and join the conversation by becoming a Patreon member today!
Interactive Transcript
Listen Here
Spotify
PatreonTranscript
Vocabulary Games and Activities!
Learn and practice vocabulary from this Thinking in English episode.
Practice using 5 different study games and activities – including writing, listening, and memorisation techniques!
Flashcards
Matching Game
Learning Game
Test Yourself
Listening and Spelling
