A comparative study of family-owned businesses in south Korea and Japan: History, culture and economic implications

Abstract

The pandemic coupled with various other geopolitical tensions, are factors that are swaying major global economies to diversify their economic dependence and supply chain concentrations away from the Chinese economy. Amongst such countries, Korea and Japan stand prominent and given their history of economic ties with Ind ia, it becomes worthwhile to examine the major commonality amongst the three Asian peers- the existence of Business Groups (known as Chaebols in Korea and Keiretsus in Japan). The idea is to benefit from the fact that both Korea and Japan are manufacturing nations and could catalyse India's intended spur in manufacturing.