The term "agency problem" refers to the conflict of interest that can arise between a principal and an agent who acts on behalf of that principal. The conflict arises when the self-interest of the agent influences him to act in a way that is inconsistent with the principal's best interests.

Research on the Chaebol family-owned business in South Korea in the area of agency problem. With a company identified, prepare report (800 to 1000 words) that discusses the followings:

Types of agency problem in family-owned businesses.

Why it is necessary to minimize or eliminate agency problem.

How to mitigate agency problem.

(100 marks)