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 [...]
SEOUL, Aug. 8 (Korea Bizwire) – Succession of power almost always breeds trouble and conflict. The same applies to Korean chaebol, family-owned business conglomerates, with retail giant Lotte’s family feud pitting the company founder’s two sons against each other being the latest example of a business dispute over a company’s management rights. Such discord, however interesting [...]
SEOUL, June 15 (Korea Bizwire) – Dividend payments to the owners of South Korea’s top 10 conglomerates were tallied at 1.46 trillion won (US$1.24 billion) for the past five years, despite their firms’ sluggish earnings, data showed Wednesday. Samsung Electronics Co. Chairman Lee Kun-hee, South Korea’s richest man, topped the list with a total of [...]
SEOUL, March 31 (Korea Bizwire) – Family-run companies were found to generate higher profitability compared to rivals, a report said on Thursday, claiming that involvement by “owner” families leads to good business results. According to the report compiled by the Korea Economic Research Institute (KERI), 4,683 family-controlled firms here posted a return on asset (ROA) ratio [...]