South Korea has a complicated, love-hate relationship with its chaebol, the family-owned conglomerates that have dominated business in the country for decades.

Lauded for fast-tracking the country’s economic growth, and loathed for their monopolistic grip and exploitative practices, the corporate giants have seen regulations on them fluctuate over the years in accordance with the political ideologies of the party in power. Under the new Yoon Suk-yeol administration, the pendulum has swung to the side of love again.

The conservative government’s economic policy direction released in mid-June features a corporate tax cut from 25% to 22%, lower taxes on inheritance