It should be noted that the main driving force for Chaebols reform is basically market discipline, not government-led intervention. The only role of government is to set up market infrastructure for Chaebols to reform by themselves. Even though Chaebols reform is inevitable to level up the competitiveness of firms and revive to Korean economy, government role should be limited for the productive outcome of Chaebols reform.
The forced dismantlement of Chaebols or business group does not guarantee the competitiveness. The competitiveness edge of Chaebols or business group is secured in the process of fierce market competition, the improvement of corporate governance, and the check and balance of variety of financial institutions. In addition, government should focus on the building of new incentive structure for Chaebols to reform by themselves in the productive and reasonable direction.