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What is a chaebol?

What is a chaebol? Here are some definitions.

Noun
  1. (pejorative) A large, family-controlled Korean business conglomerate.
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Examples
Thus climaxed a family boardroom drama that has rocked Hyundai, the largest chaebol, and Korean business.
Not unlike the pre-war Japanese zaibatsu, virtually all chaebol are family-owned and controlled.
One of his first acts as CEO was to change the name to Hynix, distancing the company from the Korean chaebol.
What's more, he has the backing of the chaebol, the giant conglomerates that clashed so often with Kim and his Cabinet ministers.
Roh will also challenge the chaebol, the Korean conglomerates that have dominated Korean economic life and dictated much of its politics as well.
He's a 25-year veteran of Samsung Corp., the trading arm of South Korea's largest chaebol.

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