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Major Groups’ Investment Dips 23 pct in H1

Major Groups’ Investment Dips 23 pct in H1

SEOUL, Aug. 28 (Korea Bizwire) — Investment by South Korea’s major conglomerates plunged 23 percent on-year in the first half of the year due mainly to flagging chip and display businesses, a corporate tracker said Wednesday. Investment by 353 subsidiaries of 59 business groups totaled 36.9 trillion won (US$30.4 billion) in the January-June period, compared [...]

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 [...]