SEOUL, Aug. 26 (Korea Bizwire) – SK Group announced that if any of the soldiers who postponed their discharge from the military under tense political situations were to apply for a job at SK, they would hire them preferentially. Officials at the conglomerate say that their chairman, Chey Tae-won, was very touched at the news [...]
SEOUL, Aug. 25 (Korea Bizwire) – South Korean chip giant SK hynix said Tuesday it will spend 46 trillion won (US$38.2 billion) to build three new semiconductor production lines over the next 10 years in an effort to bolster its market position and join government efforts to revitalize the economy. SK Group Chairman Chey Tae-won unveiled [...]
SEOUL, Aug. 17 (Korea Bizwire) — South Korea’s No. 3 conglomerate SK Group said Monday it plans to have all its affiliates adopt a new wage system by next year, in line with the government’s effort to boost the labor market. Under the wage peak system, employees accept a reduced salary in exchange for working for [...]
SEOUL, Aug. 13 (Korea Bizwire) – President Park Geun-hye granted special pardons Thursday to high-profile businessmen and more than 6,500 others ahead of Liberation Day. “I decided to grant special pardons in order to help forge national reconciliation and revitalize the economy as well as to boost people’s spirits,” Park said in a Cabinet meeting. The [...]
SEOUL, July 3 (Korea Bizwire) – Suh Kyung-bae, chief of South Korea’s top cosmetics maker AmorePacific Group, has become the country’s richest man in stock value, overtaking former No. 1 Samsung Group Chairman Lee Kun-hee, market data showed Thursday. Stocks owned by Suh were valued at 12.8 trillion won (US$11.4 billion) as of Thursday, while [...]
SEOUL, June 8 (Korea Bizwire) – SK Hynix and its trade union introduced a new model for coexistence and cooperation with subcontractors by raising funds through the donation of part of their increased wages. On June 7, the world’s second largest DRAM chip supplier announced that it decided to implement the wage-sharing program to improve working conditions [...]
SEOUL, June 2 (Korea Bizwire) – South Korea’s top family-controlled conglomerates, known here as chaebol, have recently announced plans to merge their key units, in what is widely seen as a play to simplify their governance structures and help pave the way for power transfers. Betting such moves will trigger a bull run for the [...]
SEOUL, Apr. 20 (Yonhap) — SK C&C Co., an IT service unit of South Korea’s No. 3 conglomerate SK Group, said Monday it will merge with SK Holdings Co. through a stock swap deal, a move seen as part of groupwide efforts to solidify its chairman’s grip on the group. The deal is the latest [...]
SEOUL, April 2 (Korea Bizwire) – To keep social enterprises operating on solid financial grounds, an incentive system offering monetary support based on their performance will be introduced. SK Group, the Korea Social Enterprise Promotion Agency, Korea Social Investment and the Research Institute for Social Enterprises recently formed a task force to assess the social [...]
“I think he has been punished enough. In the situation that SK Group is now fiercely competing with world leaders in cutting-edge industries, if he (SK Group Chairman Chey Tae-won) were released, the group would be transformed drastically. We should give it a chance to transform.” “SK is desperately competing to go ahead over other [...]