Choi Soon-sil Archives | Be Korea-savvy
Conglomerates Cut Back on Donations for Second Year

Conglomerates Cut Back on Donations for Second Year

SEOUL, April 2 (Korea Bizwire) – South Korea’s top 10 conglomerates reduced their donations for the second consecutive year in 2017 despite their increased operating profit, data showed Monday. An analysis by corporate tracker Chaebul.com showed the donations by the leading business groups fell 13.3 percent from 2016 to 836.1 billion won (US$786.54 million) last year. [...]

Conglomerates Cut Back on Charity Donations Despite Better Profits

Conglomerates Cut Back on Charity Donations Despite Better Profits

SEOUL, Nov. 29 (Korea Bizwire) — Charity donations by leading conglomerates have shrunk more than 13 percent in 2017 from last year despite business profits fattening their pockets, data showed Wednesday. Donation cuts by Samsung Group were the most striking, according to the data provided by corporate management tracker CEO Score. Samsung Electronics reduced its [...]

Samsung to Review Holding Company Structure Regardless of Chief’s Detention

Samsung to Review Holding Company Structure Regardless of Chief’s Detention

SEOUL, March 14 (Korea Bizwire) – Samsung Electronics Co. has been considering whether to transition into a holding company structure, regardless of the leadership vacuum caused by the detention of its de facto chief, Lee Jae-yong, a senior company executive said Tuesday.  Samsung announced last November that it will review a possible switch to a [...]

Samsung’s Newfound Virtue and Changes to Come

Samsung’s Newfound Virtue and Changes to Come

SEOUL, March 2 (Korea Bizwire) – Following allegations against Samsung Group and its role in President Park Geun-hye’s corruption scandal, and the subsequent arrest of its de facto leader Lee Jae-yong, Korea’s largest conglomerate decided to abolish its future strategy office while introducing a stringent screening procedure for any donations exceeding 1 billion won ($885,347) [...]

President Park Named as Bribery Suspect in Corruption Probe

President Park Named as Bribery Suspect in Corruption Probe

SEOUL, Feb. 28 (Korea Bizwire) – South Korea’s President Park Geun-hye was named a bribery suspect on Tuesday as special prosecutors wrapped up their three-month probe into a massive influence-peddling scandal. The probe team, led by Independent Counsel Park Young-soo, suspects that the president colluded with her longtime friend Choi Soon-sil and took bribes from [...]