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 [...]
SEOUL, Sept. 11 (Korea Bizwire) — A recent survey showed that the job market for young people will become more challenging in the second half of this year due to the worsening of business sentiment caused by the deepening of uncertainties in and outside of Korea. According to a survey of the nation’s 500 largest companies [...]
SEOUL, Aug. 1 (Korea Bizwire) — The market capitalization of South Korea’s conglomerates soared more than 350 trillion won (US$273.8 billion) this year amid a bullish trend in the country’s stock markets, data showed Tuesday. The combined value of a total of 338 listed companies owned by 73 business groups reached 1.77 quadrillion won as [...]
SEOUL, Jan. 26 (Korea Bizwire) — More than a dozen of second- or third-generation scions of South Korean family-owned conglomerates have been indicted on charges of habitually using and selling marijuana, prosecutors said Thursday. Among them are a 40-year-old man surnamed Hong, a grandson of major dairy firm Namyang Dairy Products Co. founder Hong Doo-young, [...]
SEOUL, Jan. 22 (Korea Bizwire) — More than four out of 10 South Korean conglomerates plan to cut back on their investment both at home and abroad this year amid a global economic slowdown and worsening market conditions, a survey by the state-run trade agency has showed. According to the recent survey by the Korea [...]
SEOUL, Dec. 21 (Korea Bizwire) — Loan guarantees among affiliates of South Korea’s top 30 conglomerates surged nearly 21 percent in the first nine months of the year due to a credit crunch stemming from high interest rates, a corporate tracker said Wednesday. The debt payment guarantees among 207 out of the groups’ affiliates totaled [...]