SEOUL, Aug. 25 (Korea Bizwire) — A recent resurgence of coronavirus infections at home and abroad has sparked concern over possible factory shutdowns by major South Korean companies, industry sources said Tuesday. Several large enterprises were forced to shutter domestic and overseas plants in the thick of the coronavirus pandemic between February and April. Electronics [...]
SEOUL, Aug. 19 (Korea Bizwire) — Large South Korean companies’ investment surged nearly 16 percent in the first half of the year despite a fall in earnings due to the coronavirus outbreak, a corporate tracker said Wednesday. Combined investments by 374 major businesses in Asia’s fourth-largest economy came to 43.3 trillion won (US$36.6 billion) in [...]
SEJONG, July 30 (Korea Bizwire) — South Korea plans to allow big companies to have venture capital affiliates as it seeks to encourage them to increase investments, Finance Minister Hong Nam-ki said Thursday. However, the government will impose some restrictions on such firms in a precautionary measure to prevent big companies from using such financial [...]
SEOUL, Feb. 5 (Korea Bizwire) — Major South Korean companies sharply cut payments of performance-based pay and dividends for 2019 due to abysmal earnings, industry sources said Wednesday. Top-cap Samsung Electronics Co. recently decided to lower the maximum amount of performance pay for workers at its semiconductor division to 29 percent of their annual salary [...]
SEOUL, Nov. 27 (Korea Bizwire) — Large South Korean companies’ ability to service their debts worsened sharply in the first nine months of this year due to plunging profits, a corporate tracker said Wednesday. The interest coverage ratio for 241 out of the country’s top 500 firms averaged 5.08 as of end-September, compared with 10.01 [...]
SEOUL, Feb. 14 (Korea Bizwire) — South Korea’s 81 business groups posted a 46 percent on-year jump in their combined operating profit last year, helped by strong results on the part of leading players, a local corporate monitoring website said Wednesday. As of Friday, businesses that have released their preliminary earnings reports and are among [...]
SEOUL, Dec. 20 (Korea Bizwire) — More than 200 big South Korean companies have invested in 10 other firms or funds on average as part of their efforts to secure technology and expand their businesses, a market tracker said Wednesday. The data compiled by CEO Score, a website that tracks conglomerates and financial firms, showed [...]