conglomerates Archives | Be Korea-savvy
Pros and Cons of Conglomerate Leaders Using Personal Social Media Accounts

Pros and Cons of Conglomerate Leaders Using Personal Social Media Accounts

SEOUL, Jan. 10 (Korea Bizwire) — Heads of large companies are going beyond tradition to post personal remarks on their personal social media accounts. One of Shinsegae Group Vice Chairman Chung Yong-jin’s social media accounts is currently followed by 736,000 people. Chung posts photos of his everyday life, playing golf, cooking or introducing new products [...]

Conglomerates Spend ‘Quiet’ Year-end Without Large Year-end Ceremonies

Conglomerates Spend ‘Quiet’ Year-end Without Large Year-end Ceremonies

SEOUL, Dec. 29 (Korea Bizwire) — Amid the prolonged COVID-19 pandemic, South Korea’s major conglomerates are closing this year quietly without having year-end ceremonies. In the midst of the new trend of skipping large-scale year-end ceremonies that have been held in auditoriums in the past, combined with the impact of the pandemic, year-end ceremonies are [...]

New Legislation Forces Conglomerate Affiliates to Make Eco-friendly New Car Purchases

New Legislation Forces Conglomerate Affiliates to Make Eco-friendly New Car Purchases

SEOUL, Nov. 8 (Korea Bizwire) — Starting from next year, more than 2,000 private companies affiliated with South Korean conglomerates will be obliged to fill a certain portion of their car purchases with environment-friendly models. The government confirmed a legislation draft to set the annual eco-friendly purchase target for the nation’s 2,616 companies with more [...]

Conglomerates’ IT Service Units Under Pressure to Diversify Income Sources

Conglomerates’ IT Service Units Under Pressure to Diversify Income Sources

SEOUL, Nov. 1 (Korea Bizwire) — As the Fair Trade Commission is stepping up pressure on conglomerates to reduce reliance on intra-group transactions in the area of IT services, their IT service affiliates are looking for ways to survive through income diversification. Samsung SDS Co., an IT service unit of Samsung Group, revealed last week [...]

Major Korean Conglomerates Join Forces on Hydrogen Economy

Major Korean Conglomerates Join Forces on Hydrogen Economy

SEOUL, Sept. 8 (Korea Bizwire) — The heads of South Korea’s major conglomerates on Wednesday launched a business council to foster hydrogen as a clean energy source and expand its value chain. A total of 15 conglomerates, including Hyundai Motor, SK, POSCO, Lotte and Hanwha, launched Korea H2 Business Summit to encourage corporate investments and [...]

S. Korean Companies Slow in Addressing Climate Change

S. Korean Companies Slow in Addressing Climate Change

SEOUL, July 9 (Korea Bizwire) — South Korean companies are underperforming when it comes to addressing climate change, an international environmental group said Thursday. Greenpeace asked 100 subsidiaries of 10 major conglomerates in the country about their usage of renewable energy and plans on fully replacing electricity with renewable energy to come up with an [...]