SEOUL, Aug. 23 (Korea Bizwire) — A report released on August 22 ranking the fourteen major life insurance companies by risk-based capital ratios showed four of the top five places occupied by foreign companies. Samsung Life Insurance held down second place with a 331.8 risk-based capital ratio (RBC), followed closely by Lina Life Insurance with [...]
SEOUL, Mar. 7 (Korea Bizwire) – Social enterprises that put people before profits have achieved great results, according to the Seoul Institute. A recent report conducted by Seoul Institute researcher Jo Dal-ho measured the achievements of social enterprises in Seoul and revealed the economic support from both the government and the private sector saw social enterprises [...]
SEOUL, Feb. 9 (Korea Bizwire) – Perhaps in line with recent allegations outlining the role of major South Korean conglomerates in the current political scandal, a survey by Edelman Korea revealed that the level of confidence in business among Koreans ranked the lowest among 28 key global players that included the U.S., China, and Japan. [...]
SEJONG/SEOUL, Dec. 15 (Korea Bizwire) – South Korea’s finance minister said Thursday that Asia’s fourth-largest economy has strong economic and financial fundamentals to overcome the current headwinds stemming from the domestic political turmoil and a global economic slowdown. The recent political turbulence sparked by the impeachment of President Park Geun-hye is feared to weigh on [...]
SEOUL, Nov. 14 (Korea Bizwire) – A number of South Korea’s tycoons, including Hyundai Motor Group Chairman Chung Mong-koo and Samsung Electronics Vice Chairman Lee Jae-yong, were summoned by prosecutors over the weekend for questioning over their companies’ cash donations to two dubious foundations controlled by President Park Geun-hye’s scandal-ridden confidante Choi Soon-sil, prosecution sources [...]
SEOUL, Sept. 21 (Korea Bizwire) – None of the top 30 public enterprises have female executives, a corporate analyst said Wednesday, a finding that defies government efforts to raise women’s presence in the business world. According to CEO Score, which tracks companies’ performance and management, as of the end of June this year, there were [...]
SEOUL, June 22 (Korea Bizwire) – South Korean business groups saw their overseas sales drop last year as low oil prices and a prolonged economic slowdown have shrunk demands in major markets, industry data showed Wednesday. The combined sales of 1,022 firms under the top 30 business groups generated at home and abroad came at [...]
SEOUL, May 3 (Korea Bizwire) — Leading business groups of South Korea and Iran agreed Tuesday to promote commercial and industrial partnerships by establishing consultative bodies. The Korea Chamber of Commerce and Industry (KCCI) said it has signed a memorandum of understanding with Iran’s Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA). The KCCI will [...]
SEOUL, Dec. 14 (Korea Bizwire) – More than half of business leaders in South Korea are seeking “belt-tightening” management next year amid gloomy outlooks for overall economic conditions, a poll showed Sunday. According to the poll of CEOs of 235 businesses by the Korea Employers Federation, a business lobby, 52.3 percent answered they will carry out the belt-tightening management next year. Of those polled, 32 percent said that they will maintain the “status quo,” while only 17.4 percent [...]
SEOUL, Aug. 18 (Korea Bizwire) – In partnership with Japanese investment companies, domestic startup businesses are hoping to target the Japanese market. KOTRA, the Korea Trade Promotion Corporation, signed an agreement with startup businesses and Japanese venture capital firms (VCs) as part of its ‘Startup Growth’ initiative. ‘Startup Growth’ is a program that connects overseas [...]