conglomerates Archives | Be Korea-savvy
Top 4 Biz Groups Take Up 20 pct of S. Korea’s Corporate Sales

Top 4 Biz Groups Take Up 20 pct of S. Korea’s Corporate Sales

SEOUL, Aug. 9 (Korea Bizwire) — South Korea’s top four conglomerates account for nearly 20 percent of the country’s overall corporate sales, a corporate tracker said Tuesday, pointing to their big clout in Asia’s fourth-largest economy. Combined sales by the business groups — Samsung, SK, Hyundai Motor and LG — averaged 746 trillion won (US$571 [...]

S. Korean Conglomerates Step into Pharmaceutical, Biomedical Industries

S. Korean Conglomerates Step into Pharmaceutical, Biomedical Industries

SEOUL, April 1 (Korea Bizwire) — South Korea’s major conglomerates are launching ventures in the pharmaceutical and biomedical industries, following the success of Samsung Biologics Co., the biotech arm of Samsung Group and SK Bioscience Co., a vaccine unit of SK Group. Lotte Corp., the holding company of retail giant Lotte Group, decided to establish [...]

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 [...]