SEOUL, Sept. 22 (Korea Bizwire) — South Korea’s largest companies are showing a stronger preference for so-called “experienced freshmen,” or new hires with prior work experience, according to a survey released Sunday by the Korea Economic Research Institute (FKI). The survey, conducted among 121 of the country’s top 500 firms by revenue, found that 28.1 [...]
SEOUL, July 23 (Korea Bizwire) — Despite decades of reforms aimed at strengthening corporate governance, a new analysis reveals that South Korea’s outside directors—soon to be renamed “independent directors”—overwhelmingly rubber-stamped board proposals in 2023, with only a handful showing independent judgment. According to data from the Financial Supervisory Service released Sunday, 122 listed affiliates of [...]
SEOUL, July 16 (Korea Bizwire) — The share of intra-group transactions among South Korea’s major conglomerates rose sharply in 2023, with nearly 40 percent of their total domestic revenue derived from internal dealings, raising fresh concerns about potential abuses of market power and opaque business practices. According to a report released Monday by corporate research [...]
SEOUL, Feb. 17 (Korea Bizwire) — A new analysis has revealed that South Korea’s large companies offer significantly higher wages and wage growth rates compared to their counterparts in Japan and the European Union. According to a report released February 16 by the Korea Enterprises Federation (KEF), the annual total wages at large Korean companies, excluding [...]
SEOUL, Dec. 27 (Korea Bizwire) — South Korea’s 10 largest conglomerates have nearly doubled their corporate bond issuance over the past two years to manage increasing financial burdens. However, with rising interest rates and tighter liquidity conditions, these firms face significant challenges in refinancing their debt, raising concerns about potential ripple effects in the country’s [...]
SEOUL, Mar. 25 (Korea Bizwire) – A stark divide exists between the paychecks of top executives and ordinary employees at South Korea’s major conglomerates, with a new analysis revealing that executives earn on average more than 11 times the salary of regular workers. According to data compiled by Chaebul.com from the 2023 fiscal year business reports [...]
SEOUL, Dec. 11 (Korea Bizwire) – In the midst of a prolonged global economic downturn, South Korean companies are tightening their belts as they prepare next year’s business plans, focusing on cost-saving initiatives and voluntary retirements. SK Group recently adopted a cost-effective approach by organizing dinner meetings at company cafeterias instead of dining out, reducing expenses [...]
SEOUL, Dec. 7 (Korea Bizwire) – On December 6, the business research institute Leaders Index revealed that family members serving as top executives (CEO, Vice Chairman, Chairman) in the management of the top 100 domestic conglomerates, on average, climb the corporate ladder to become executives in their early to mid-30s, subsequently reaching the CEO position within [...]
SEOUL, Dec. 4 (Korea Bizwire) — About half of big firms in South Korea remain undecided on their investment plans for next year, according to a survey released Monday, an indication of how many companies are going through economic uncertainties. In the survey conducted by polling agency Mono Research on the leading 500 companies in [...]
SEOUL, Sept. 13 (Korea Bizwire) — A recent survey shows that more than half of South Korean citizens have a favorable opinion of large corporations, and their top expectation from these companies is job creation. According to a survey commissioned by the Federation of Korean Industries (FKI) and conducted by the polling firm Monos Research, among 1,005 [...]