SEOUL, Sept. 14 (Korea Bizwire) – Samsung and Hyundai Motor groups slashed their cash reserves in the first half of the year, while other major conglomerates increased their cash piles, data showed Sunday. Listed affiliates of Samsung Group, South Korea’s top family-controlled conglomerate, had a combined 40.5 trillion won (US$34.1 billion) in cashable assets as [...]
SEOUL, July 5 (Korea Bizwire) – Nearly half of South Korea’s top 30 business groups reduced their workforces in 2014 due to sluggish business, data showed Sunday, despite the government’s effort to spur their employment. As of end-December, the combined workforce of the leading business groups came to 1.27 million, up a mere 0.6 percent, [...]
SEOUL, Sep. 16 (Korea Bizwire) – The government will give a tax break to those long-running corporations deemed to have fulfilled their social responsibilities, especially in inheritance taxes when the firms’ owners succeed the business to their children. The Ministry of Strategy & Finance will increase the inheritance tax deduction limit to 100 billion won from the current [...]