At 9 am on 10.09.2015, Faculty of Political Economy (KTCT) held a seminar on the topic: "Chealbol and the Korean economy." The seminar had the participation of Professor.Jae hyun lyu with the full presence of the teachers of faculty.
Today, Korea is known for its international famous brand by chealbol as SamSung, Hyundai, Kia, LG, Posco,… These corporations have an important contribution to the success of the economic development of Korea. Few people can imagine that this giant company starting point from privately owned family enterprises with very small-scale activity in the field of cosmetics production (LG), or consumer electronics (Samsung ), repair Oto (Hyundai). Unlike economic corporations of Europe, the US or Japan, the Korean Cheabol are family company and therefore close relationship between the system of ownership and management activities.
The majority of Korea chaebol was established 40s of the last century, and fast-growing after Korea's independence. These economic corporations fast-growing during period of Korea's industrialization. With the aim to develop important industries as metallurgy, chemical, car and electronics , so the Korean government has preferential policies, to encourage the development of large economic corporations, have international competitiveness and help the country quickly became an industrialized nation.
The Korean economic corporations have development process also rise and fall,too, rise and decline in the number and competitiveness, was restructured and merged after the financial crisis of 1997-1998 . However, the chaebol still play an important rule in the economy of South Korea, contributed to 30% Korean’s GDP in the period of 2008-2011 . Despite have advantages and important contributions, the Cheabol have also posed some problems such as the economic focus too big can generate power and influence economic policies of Goverment; invasive compete with small and medium-sized enterprises in a number of areas; create fewer jobs and caused income inequality in wages.
At the seminar, many questions of the lecturers were asked as what can learn Vietnam from the development of Cheabol? Why the economic corporations of Vietnam failed as Korean? Prof. Lyu noted that the learning
developed experiences the chaebol should consider both advantages and disadvantages in the context of Vietnam.