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Number of Employees of Venture Businesses Exceeds Top 5 Conglomerates in S. Korea

Number of Employees of Venture Businesses Exceeds Top 5 Conglomerates in S. Korea

SEOUL, Dec. 28 (Korea Bizwire) — As of 2017, 762,000 South Koreans worked for venture businesses, which was more than the 750,600 employees working for Samsung and the four other largest conglomerates in South Korea. The Ministry of SMEs and Startups and the Korea Venture Business Association revealed that the average number of employees at [...]

Conglomerates Rushing to Bolster Hotel Businesses

Conglomerates Rushing to Bolster Hotel Businesses

SEOUL, Jul. 11 (Korea Bizwire) — South Korean conglomerates are scrambling to bolster their hotel businesses or build new hotels as part of efforts to achieve positive synergy for their flagship businesses, industry sources said Wednesday. Shinsegae Chosun Hotel Inc., the accommodation arm of retail giant Shinsegae Group, plans to open a boutique hotel with [...]

Conglomerates Cash in on Lucrative Pet Industry

Conglomerates Cash in on Lucrative Pet Industry

SEOUL, May 28 (Korea Bizwire) — Large Korean conglomerates such as Shinsegae, Lotte and CJ are expanding their offerings in the pet industry by catering to growing market demand. The companies have opened professional pet shops that provide a comprehensive array of products and services, from pet food and grooming services to even lodging for [...]

Stricter Rules Eyed for ‘Unfair’ Deals Favoring Firms Run by Chaebol Founding Family Members

Stricter Rules Eyed for ‘Unfair’ Deals Favoring Firms Run by Chaebol Founding Family Members

SEJONG, Apr. 10 (Korea Bizwire) – South Korea’s corporate watchdog said Tuesday that the revised enforcement ordinance of anti-trust laws will restrict deals that favor companies owned by the founding family members of large businesses. The change that will come into force soon aims to prevent arrangements that give unfair advantages to certain firms and [...]

Conglomerates Cut Back on Donations for Second Year

Conglomerates Cut Back on Donations for Second Year

SEOUL, April 2 (Korea Bizwire) – South Korea’s top 10 conglomerates reduced their donations for the second consecutive year in 2017 despite their increased operating profit, data showed Monday. An analysis by corporate tracker Chaebul.com showed the donations by the leading business groups fell 13.3 percent from 2016 to 836.1 billion won (US$786.54 million) last year. [...]

Conglomerates Cut Back on Charity Donations Despite Better Profits

Conglomerates Cut Back on Charity Donations Despite Better Profits

SEOUL, Nov. 29 (Korea Bizwire) — Charity donations by leading conglomerates have shrunk more than 13 percent in 2017 from last year despite business profits fattening their pockets, data showed Wednesday. Donation cuts by Samsung Group were the most striking, according to the data provided by corporate management tracker CEO Score. Samsung Electronics reduced its [...]

Foreign Ownership of Top 10 Group Shares Sinks 4.6 pct over Past Month

Foreign Ownership of Top 10 Group Shares Sinks 4.6 pct over Past Month

SEOUL, Aug. 28 (Korea Bizwire) — Foreign ownership of listed firms belonging to South Korea’s top 10 conglomerates tumbled nearly 4.6 percent over the past month amid a market correction, data showed Monday. Offshore investors held a combined 349.2 trillion won (US$310 billion) worth of shares in 95 listed firms of the leading business groups [...]