The following snippet is now part of the ebook Korean Business Etiquette Guide: Take an Essential Step Toward Your Business Goals in Korea!
From the extra reading in Chapter 1 of Korean Business Etiquette Guide: Take an Essential Step Toward Your Business Goals in Korea!
"Korean corporate structure is a reflection of Korean society — in other words, highly centralized and very hierarchical. In fact, the Korean "chaebol" or large business conglomerate is considered to be similar to the Japanese "keiretsu" with the primary differences being that Korean chaebols tend to still be controlled by the founding family with ownership centralized while Japanese keiretsu tend to be controlled by groups of professional managers with overall ownership more decentralized. Furthermore, Korean chaebols often create subsidiaries to act as their suppliers while their Japanese counterparts often use outside subcontractors as their suppliers."