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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 [...]

Donation Vows from Self-made Entrepreneurs Defy Family Inheritance at Conglomerates

Donation Vows from Self-made Entrepreneurs Defy Family Inheritance at Conglomerates

SEOUL, Feb. 19 (Korea Bizwire) — Woowa Brothers Corp. CEO Kim Bong-jin has followed in the footsteps of Kakao Corp. founder Kim Beom-su to donate half of his fortune, bringing a pleasant surprise to the public. The decision by these self-made entrepreneurs to donate half of their fortune comes as a stark contrast to other conglomerates, known [...]

42 Conglomerates Earned 1.42 tln Won in Brand License Fees from Affiliates Last Year

42 Conglomerates Earned 1.42 tln Won in Brand License Fees from Affiliates Last Year

SEOUL, Dec. 27 (Korea Bizwire) — South Korea’s antitrust watchdog said Sunday 42 large business groups earned a combined 1.42 trillion won (US$1.29 billion) by selling brand licenses to their affiliates last year amid concerns conglomerate owners could glean profits from such transactions. The 2019 tally marked a 7.6 percent rise from the previous year’s [...]

Higher Operating Profit for Conglomerates Cuts Operating Profit for Subcontractors: Study

Higher Operating Profit for Conglomerates Cuts Operating Profit for Subcontractors: Study

SEOUL, Nov. 3 (Korea Bizwire) – The higher the operating profit is for large-sized companies, the less it is for smaller subcontractors, a recent study revealed. The Korea Institute of Public Finance announced Monday the analysis of performance among subcontractors working with conglomerates based on data from 2013 and 2014 provided by Nice Information Service [...]