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. [...]
SEOUL, Feb. 9 (Korea Bizwire) – Business evaluation website CEO Score revealed Wednesday how quickly children from Korea’s top conglomerate families move up the ladder, taking an average of 4.9 years until they nab an executive title from when they start working – a significant fast-track forward given the fact that it typically takes roughly [...]
SEJONG, Dec. 22 (Korea Bizwire) – South Korea’s big businesses still lack transparency in their governance as owner families still have a strong grip on influence without seats on the board of directors through cross-ownership, the state corporate watchdog said Thursday. The percentage of owners or their relatives who are listed as board members of [...]
SEOUL, Nov. 29 (Korea Bizwire) – Routine year-end corporate activities have been suspended this year as CEOs await a prosecutorial investigation over a presidential scandal, delaying reshuffles for next year’s business planning and bonus payments, corporate sources said Tuesday. At Samsung, the reshuffle of executive-level officers, usually carried out on the first Tuesday of December, [...]
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, Oct. 24 (Korea Bizwire) – South Korea’s 10 biggest companies have contributed less to the nation’s employment sector, although their assets have grown, data showed Sunday. According to the data compiled by market researcher Chaebol.com, their assets totaled 1,144.4 trillion won (US$1,000 billion) last year. This accounts for 27.22 percent of all assets for [...]
SEOUL, Oct. 20 (Korea Bizwire) – Korea’s businesses are on edge. With Korean industrial stalwarts Samsung Electronics and Hyundai Motor both facing existential crises, other major players are beginning to see their growth engines weaken. On October 19, the Korea Economic Research Institute (KERI) suggested that on-year increase in sales at the nation’s top 500 [...]
SEOUL, Aug. 31 (Korea Bizwire) – Slightly over 8 percent of South Korea’s major listed companies suffered a double whammy of operating and net losses in 2015 amid an economic slump, data showed Wednesday, sparking concern over their financial health. According to the data by the Korea 20000 Corporate Research Institute, 23 of the 273 [...]
SEOUL, Aug. 18 (Korea Bizwire) – Owners of several large companies in South Korea received handsome compensation in the first half of the year despite corporate troubles, data showed Thursday, sparking criticism over their high pay. According to the data compiled by market researcher Chaebul.com, 237 executives of local companies received 500 million won (US$452,000) [...]
SEOUL, Aug. 18 (Korea Bizwire) – Nearly 4 out of 10 listed units of South Korea’s top 10 conglomerates saw their sales drop in the first half of 2016 from a year earlier due mainly to falling exports, data showed Thursday. According to the data by the Korea Exchange, 26 out of 68 listed affiliates [...]