The chaebol usually refers to a large-scale comprehensive enterprise whose capital center is exclusively funded by a family. The word "chaebol" originated in Japan and came into use around 1900. At first, it refers to the rich in a certain place. By the end of the Meiji era, it was no longer confined to a certain place, but generally referred to the families of the rich.

A typical chaebol has the following five characteristics: in addition to state-owned enterprises, it must be a closely related family enterprise, and the main resources in the enterprise are in the hands of a few people, and they are all related by blood. Enterprises have a wide business scope and many employees, accounting for a considerable proportion of the gross national product. The chaebol usually have a financial industry, which is convenient for enterprises to mobilize funds (even illegal loans).

Cross-shareholding is very common in enterprise groups. After many times of cross-shareholding, the company's management right has increased its tightness in the chaebol, which facilitates mutual lending and reduces financial transparency. However, if there are poorly managed enterprises in the group, they will often be implicated in each other. The chaebol usually have a good relationship with the government and are usually allowed to operate industries licensed by the government, such as petrochemical and heavy industry. The chaebol will also directly or indirectly interfere in politics through political contributions and elections.

South Korean chaebol refers to a large enterprise group in South Korea, which is in a dominant economic form in the Korean economy, centering on the family corporation and forming a special shareholding relationship among the family corporation, directly affiliated companies and subsidiaries.

South Korean chaebol exists in the Korean economy in the form of large enterprise groups, and the Korean economy is the economic form dominated by chaebol. According to the data of Bank of Korea, the 30 largest family enterprise groups (also known as chaebol) in South Korea control nearly 40% of the Korean economy.

Large chaebol occupy a dominant position in the national economy. Since 1980, the proportion of the top 30 chaebol in South Korea's mining and manufacturing output has been maintained at around 40%, and its added value has been maintained at one-third of GNP since 1980.

The chaebol takes the family company as the core, forming a special shareholding relationship of "family company-directly affiliated company-affiliated company". South Korean chaebol exists in the Korean economy in the form of large enterprise groups, and the Korean economy is the economic form dominated by chaebol.