I'd need to see a study showing that this was already a trend, because globalization should increase linguistic complexity via exposure to other cultures. I certainly didn't use the term chaebol until the rise of Korean pop culture.
Either way, LLMs are an entirely different mechanism for shrinking linguistic diversity than just people watching Disney.
Globalization moves every culture towards each other, with a higher weight on dominant cultures. You borrow a few Korean words, they borrow a few more English words. McDonalds pop up everywhere, everyone buys the same phones, hotels across the world converge towards a standard experience, and so on. The end result of such a process is a monoculture. Not now, not medium term, but I expect a few centuries of globalism would suffice to blend all extant cultures into a slurry.
Personally, I use LLM to do a quick pass on my writing to see if there's any glaring issues but would never ask it to reformulate what I wrote. I feel that you then lose the voice behind it.