For generations, the heirs of South Korea’s powerful family-run conglomerates, known as chaebol, often married into political families to secure influence and protection.
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Today, their descendants are pursuing different strategies.
Nearly half of fourth- and fifth-generation chaebol marriages are now between members of other business dynasties, according to corporate tracker CEO Score – a marked increase from previous generations.
Others are marrying outside elite circles entirely, signalling a shift in how South Korea’s business elite build power and shape their public image in a more democratic, media-scrutinised era.
Of the 380 individuals from 81 families examined in CEO Score’s analysis, 46.5 per cent had married someone from another conglomerate-owning family – up from 34.5 per cent among the second generation, The Korea Herald reported on Wednesday.
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Industry data shows that five of the largest chaebol – Samsung, SK, Hyundai Motor, LG and HD Hyundai – account for more than half of the country’s stock market value. Just two, Samsung and SK, make up nearly 40 per cent of the total market.