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South Korea's Moon vows to rev up jobs and rein in 'chaebol'

The new president wants to remake the economy; it's a tall order

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Lee Jae-yong, the de facto leader of the Samsung group, arrives for the start of his bribery trial in Seoul on April 7.   © Reuters

SEOUL Mr. Kim, a typical South Korean worker, wakes up in an apartment complex built by construction conglomerate GS E&C, drives to the office in a car built by Hyundai Motor and does his work on a Samsung computer and smartphone. On his way home, he shops at a Lotte supermarket, dines at a CJ restaurant and watches TV on his LG set before going to bed.

South Korea's economy is driven by family-run conglomerates, or chaebol, which dominate most of the country's industries, from high tech and automaking to food processing and finance.

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