SEOUL, Sept. 2 (Korea Bizwire) — Private equity funds (PEFs) are gaining a strong presence in South Korea as they work as solutions for problems among large conglomerates to evading monopoly restrictions during the transition of management and changing management structure. London-based investment data company Preqin reported that major private placement funds’ assets under management [...]
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 [...]
SEOUL, Aug. 9 (Korea Bizwire) — South Korea’s major conglomerates are establishing corporate venture capital (CVC) firms under the umbrella of their holding companies as a way to expand investment in promising startups. Food and entertainment giant CJ Group set up its own CVC firm last week by acquiring a 100 percent stake in Timewise [...]
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 [...]
SEOUL, March 17 (Korea Bizwire) — Among the CEOs of South Korean family-controlled conglomerates, the share of owner family members has declined sharply while that of professional managers is increasing, a corporate tracker said Wednesday. According to a survey conducted by CEO Score of 411 out of the nation’s top 500 companies by sales in [...]
SEOUL, Feb. 3 (Korea Bizwire) — The number of South Korean companies affiliated with large business groups under tight supervision rose by 34 in the three months ending Jan. 31 as conglomerates expanded new businesses, the antitrust regulator said Thursday. The total number of affiliates on the Fair Trade Commission (FTC) watch list reached 2,738 [...]
SEOUL, Jan. 25 (Korea Bizwire) — South Korea’s top 30 family-controlled conglomerates have seen their stock market capitalization spike more than 30 percent over the past four years, with Samsung Group taking the top spot, a market tracker said Tuesday. The combined value of 201 listed firms belonging to the leading business groups, known as [...]
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 [...]
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 [...]
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 [...]