SEOUL, May 17 (Korea Bizwire) – South Korean shipbuilders and related firms sharply reduced the size of their workforces last year in the face of a drawn-out slump, industry data showed Tuesday. According to the data compiled by industry tracker Chaebul.com, the shipbuilding sector slashed its workforce by 8,670 last year, or a 14.8 percent cut. The figure includes regular and nonregular workers. South Korea’s major [...]
SEOUL, Sept. 20 (Korea Bizwire) — A growing number of South Korean companies failed to generate enough operating profit to pay tax and interest payments on their debt, data showed Sunday. The number of listed companies that logged pre-tax operating loss last year amounted to 541 companies, or 31.1 percent of the total, according to corporate [...]
SEOUL, March 30 (Korea Bizwire) – The value of land possessed by South Korea’s top 10 business groups reached an all-time high of 63.29 trillion won (US$57.18 billion) at the end of 2014, up 4 percent from a year ago, a market researcher said Monday. The value of land owned by 95 listed companies under [...]
SEOUL, March 26 (Korea Bizwire) – South Korea’s top tech giant, Samsung Electronics, reduced its combined expenditures on wages and advertisements in 2014 apparently due to its lackluster earnings, data showed Thursday. The market behemoth handed out 9.3 trillion won (US$8.44 billion) to its employees in 2014, down 0.3 percent from a year earlier, its [...]
SEOUL, March 8 (Korea Bizwire) — The amount of dividends to be paid to the heads of South Korea’s top 10 business groups will reach an all-time high for the 2014 fiscal year, market data showed Sunday. According to the data provided by financial investment firms and Chaebul.com, a website that tracks the country’s conglomerates, [...]
SEOUL/SEJONG, Feb. 9 (Korea Bizwire) – South Korea’s tax earnings from the country’s 30 largest conglomerates are expected to shrink 15 percent this year, economic sources said Monday, as the business community claims rates are already high for a trade-dependent nation. Official data by Financial Supervisory Service (FSS) and corporate tracker Chaebul.com said the business groups [...]
SEOUL, Nov. 12 (Korea Bizwire) – Something expedient but controversial, rising cases of wealth transfer taking advantage of lowered stock prices amid the stagnant economy among some owners of the domestic conglomerates, have come to the fore of late. According to Chaebul.com, as of November 6, minors who own stocks valued over 100 million won [...]
SEOUL, Nov. 3 (Korea Bizwire) – A typical excuse by large corporations that “we have no cash to invest” turns out one of the biggest lies they make. Even amid the prolonged recession and worsening financial results, top conglomerates are swamped with cash in their coffers. A study said the cash balance held by Korea’s top-ten business [...]
SEOUL, Aug. 10 (Korea Bizwire) – The number of Korean billionaires whose asset value is in excess of 1 trillion won (US$965 million) was 35 as of the end of July this year. According to Chaebul.com, the website tracking the performance of business groups and their owners (“chaebul” means conglomerate in Korean), based on a survey on [...]