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Article: Essential Asian business terms. (Lingo).(four terms defined: balibayan, chaebol, guanxi and pinyin)(Glossary)
- Article from:
- Business Asia
- Article date:
- March 1, 2003
CopyrightCOPYRIGHT 2003 First Charlton Communications Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Balikbayan--is a Filipino term (tagalog) used to describe Filipino's living and working outside of the Philippines. Balikbayan are an important part of the Philippines economy, with overseas Filipinos sending home millions of dollars to their home country every year.
Chaebol--is a term most commonly used to describe giant Korean conglomerates, usually owned by a single family and having much power and influence within the economy. Examples of chaebol include Samsung, Hyundai and Daewoo. The Korean Government has in recent years been trying to curb the power of the chaebol as part of its plans to reform the economy.
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