Wealthy, 'chaebol' families rule South Korea's economy

Samsung makes much more than smartphones

Samsung is best known for its highly popular smartphones and related consumer electronics. But the business, first created in 1938, is a conglomerate invested in container shipping, tank building, and even real estate construction like the Burj Khalifa. Its annual $200B in revenue comprises 20% of South Korea's gross domestic product. Watch this video for more on this diverse, enormous company.

A backgrounder on North Korea’s power structure

North Korea has been ruled by three generations of the Kim family since 1948, one of the world’s longest-running dynastic dictatorships, where absolute authority flows from the Supreme Leader. Read the Council on Foreign Relations' backgrounder to understand the country’s structure of power.

How life ranks in South Korea

As South Korea developed over the last half of the 20th century, quality of life soared. The country now outperforms the world average when it comes to education, health, and civic engagement, according to the OECD’s Better Life Index. In this dashboard, you can see where South Korea ranks in terms of housing, jobs, income, and more, and compare it against other developed countries.

Why South Korean women are having fewer babies

For decades, Asian countries have been combating dwindling birth rates by basically bribing families into having more children: offering government-subsidized housing, free IVF treatments, and even straight-up cash handouts. It hasn’t worked. In this BBC video, a TV producer, a cartoonist, and a private-school teacher explain their views on having children in 21st-century Korea.

Hallyu, or 'Korean wave' is the phenomenal expansion of Korean culture around the world

Described as a sort of “soft power,” South Korea managed to dominate the world with tools like “Squid Game,” “Parasite,” or BTS instead of military force. Skincare, music, movies, television, and food are just some industries that have boomed and grown in popularity in recent years.

See South Korea's nighttime light usage, far surpassing North Korea's

You can tell a lot about a place by looking at satellite imagery of the earth at night. Economists use such images to study poverty and inequality, especially about secretive countries where it can be difficult to get information any other way. An image from NASA’s Earth Observatory shows the difference in electrification between North and South Korea (and the lights illuminating the DMZ are visible from space).

Family CEOs tend to prioritize a non-economic goal: keeping the business in the family

Companies led by family CEOs tend to prioritize corporate social responsibility, but they also tend to invest less in innovation and international growth. They also have more debt on average.

More than 2,000 family offices operate in Singapore

The “Switzerland of Asia,” Singapore, is a haven for global wealth and has attracted a growing number of family offices to set up shop there.

A Tiger economy typically describes a booming Southeast Asian country

The term “tiger economy” has been used over the last several decades to describe a developing country experiencing rapid economic growth, often due to developing export-oriented industries and/or financial markets. The term was originally applied to Southeast Asian economies, including South Korea’s, and has since been used to describe Ireland, the Baltics, and Dubai.

K-pop idols have reduced rights due to their contracts

In 2024, the South Korean government ruled that celebrities are not entitled to the same rights as workers. This decision was made in response to the band NewJeans, whose members raised concerns about workplace harassment. The South Korean labor ministry instead found that the content of their contracts indicates that they do not hold the same legal status as other workers in the country. The dispute highlights the ongoing debate about the entertainment industry's treatment of idols.

Seven of South Korea's presidents have left office before their term ended

Recently removed President Yoon Suk Yeol isn’t the first South Korean leader to face turmoil at home. As this Voice of America piece shows, at least seven of the country’s 20th-century heads of state saw their political careers (and, in some cases, their lives) come to an abrupt and sometimes violent end.

The economics of Chick-fil-A

Chick-fil-A has dominated national customer satisfaction surveys while growing conservatively for decades. This video goes into the economics the company deploys to be successful.

Because of their size, sovereign wealth funds create anxiety about foreign undermining of financial systems

Across the board, sovereign wealth funds have an immense amount of capital, and, therefore, influence in global financial markets. Critics argue that this influence could enable a foreign country to harm another country's financial market by either investing adversely in competitive markets or by withholding critical capital.

Ray Dalio argues that American capitalism is broken, citing economic factors like a growing wealth divide

Dalio also points to stalling income growth, weak healthcare systems, and poor educational outcomes when arguing that American capitalism needs serious reform. However, critics point out that Dalio has amassed a large fortune by running the world's largest hedge fund and question whether Dalio really wants economic reform.

The Walton family behind Walmart is the world’s richest family with $432B

The world’s 10 richest families, including the families behind Hermès and Mars, control hundreds of billions of dollars worth of the world’s wealth.

Tech giants like SpaceX and Meta are increasingly behaving like sovereign powers

Companies now make unilateral decisions once reserved for nation-states, such as controlling satellite internet access in active war zones and influencing global information flows. Lawmakers and the international order are struggling to keep up with technological developments, let alone regulate them.

Commodity traders are the most powerful people you've never heard of

Just beneath the surface of the global economy is a hidden layer of dealmakers for whom war, chaos, and sanctions can be a great business opportunity—they're called commodity traders. Their power partly stems from the fact that commodities are essentially the building blocks of the economy at large.

Pre-revolution Cuba was prosperous—and deeply unequal

On the eve of Castro’s 1959 revolution, Cuba ranked among Latin America’s most advanced societies, with high incomes and health outcomes. Yet stark racial, rural, and political inequalities—compounded by corruption and US intervention—made the system weak and primed for revolt.

Kohlberg Kravis Roberts was the world's largest private equity firm as of 2025

Headquartered in New York City, KKR raised more than $117B between 2020 and 2024. KKR is credited for pioneering the leveraged buyout strategy for private equity in the 1970s and now owns nearly 300 companies.

The world's most (and least) corrupt countries

The annual index measuring every country's relative levels of corruption. In 2022, Denmark earned the top spot for transparency, with Sudan, Syria, and Somalia identified as having the highest levels of corruption in the public sector. The rankings...

The South built its wealth largely from slave labor

Before the Civil War, the Southern economy relied on roughly 4 million enslaved people producing cash crops such as cotton, rice, and sugarcane. Their forced labor generated immense profits—the South produced 75% of the world's cotton by 1860.

An oligopoly is a market structure where a few large businesses dominate the entire market

When a few large companies dominate a market, changes in pricing for goods and services affect the entire market. Airlines are a common example of an oligopoly. Because the barrier to entry in the aviation industry is high, only a few airline companies offer the majority of the industry's services. While there is some competition, pricing across the board is largely intertwined and based on other companies' prices.

How organized crime took over post-Soviet Russia

After more than seven decades of Soviet communism, the collapse of the system in the early 1990s opened a path for organized crime to take over the country's newly-privatized industries. As Vladimir Putin centralized power in the subsequent decades, he did not vanquish the mafia, but rather tamed it. This long read explores the subtle, complex ways organized crime flourishes within Putin's state.

A ‘supernote,’ or nearly-perfect counterfeit $100 bill, was recently found in South Korea

These “supernotes” have even fooled US government officials. North Korea is widely believed to be behind the creation of these counterfeit banknotes.

The scam factories behind prolific scamming

Scammers are on the rise, and many of those behind them are trapped in so-called scam factories—shadowy organizations tricking honest workers into fraudulent employment.

Dozens of S&P 500 stocks, including Coca-Cola and Walmart—known as the dividend aristocrats—have increased dividends every year for 25 years

The power and influence of the American presidency have expanded significantly over time—far beyond what the founders envisioned.

Up to a million Girl Scouts sell about 200 million cookie boxes every spring, generating $800 million, largely because refusing a child is frowned upon

Netflix profits when you're not watching, and its movies are designed that way—read a detail-rich critical essay exposing lesser-known Netflix takes

In 2025, four executives from large tech companies were given positions in the US Army Reserves—including Palantir Chief Technology Officer Shyam Sankar, which reinforced Palantir's ties with the US military and its role as a leading defense partner.

Watch this video that uses Lego bricks to explain how venture capital works.

SpongeBob exemplifies Aristotle's philosophy for living well because he understands that happiness doesn't come from external factors like money, recognition, or power.

A Yale student wrote a profound essay about the consulting industry's influence on elite college students that was published in a book of her writing after she died in a post-graduation car accident.

The US dollar is the most widely circulated currency in the world, and is involved in nearly 90% of global transactions

Louisiana's 'Cancer Alley' is infamous for having some of the highest industrial pollution, toxic air emissions, and cancer risks in the US.

Fast-casual restaurant Chili's is experiencing a resurgence, with its parent company recently reporting a nearly 32% increase in sales, thanks to passionate Gen Z fans on TikTok.

In 2019, a laptop loaded with six of the worst malware in history and described as 'an exhibit of historical weaponry' sold for $1.3M.

Sony set the standard for cylinder-shaped batteries when it repurposed manufacturing equipment used to make rolls of magnetic recording tape.

Gerrymandering works through two techniques: cracking opposing voters across districts to dilute their power, and packing them into a few to waste their votes in lopsided majorities.

About 2,000 US babies are born annually without some portion of their limbs, potentially leading to a lifetime of pricey prosthetics.

In 2026, Finland was named the world's happiest country for the ninth consecutive year based on its wealth, social safety network, and high life expectancy, among other factors.

Iran's Revolutionary Guard Corps is independent of Iran's regular army and is one of the most powerful and influential military-political organizations in the Middle East.

Electrical grids worldwide must double their power delivery capacity by 2050 to meet surging demand from AI and electric vehicles.

See 33 images that became central to huge scandals, including a young Charles and Camilla, Michael Jackson's baby on a hotel balcony, and Hugh Grant's mugshot.

The syncytiotrophoblast is the outer layer of the placenta and the largest human cell, spanning an area about twice that of a king-sized bedsheet.

Legendary architect Frank Lloyd Wright designed the SC Johnson headquarters in Wisconsin, aiming to make a cathedral-like workplace

The Brothers Grimm were lawyers before they were storytellers, and became interested in fairy tales as they began investigating how rules and customs had been passed down through cultures.

Three Ebola species are responsible for most large outbreaks of the disease, yet the only approved Ebola vaccine is known to work against just one of them.

Some researchers have labeled nomophobia, the fear of being without your phone, as 'the phobia of the 21st century.'

In 1963, a basement renovation in Turkey revealed a passageway to a hidden, multilevel underground city that once housed as many as 20,000 people