SEOUL, Nov. 3 (Korea Bizwire) – The higher the operating profit is for large-sized companies, the less it is for smaller subcontractors, a recent study revealed. The Korea Institute of Public Finance announced Monday the analysis of performance among subcontractors working with conglomerates based on data from 2013 and 2014 provided by Nice Information Service [...]
SEOUL, Oct. 29 (Korea Bizwire) — There are many ways in which things can go wrong for families who try to preserve their massive wealth for generations to come, like the famous saying, “Shirtsleeves to shirtsleeves in three generations.” To beat the “shirtsleeves” curse, however, the owner families of South Korea’s leading conglomerates, called chaebol [...]
SEOUL, July 6 (Korea Bizwire) — The coronavirus is changing traditional vacation policies at major companies as employees are being asked to move beyond past practices of going on vacation primarily during the summer, and are instead being encouraged to take leave at any point during the year. The new trend is mainly driven by [...]
SEOUL, June 3 (Korea Bizwire) — Transactions between affiliates of South Korea’s family-controlled conglomerates have fallen more than 30 percent over the past two years on tough regulations, data showed Wednesday. The value of unfair in-house transactions by 208 conglomerate subsidiaries came to 8.8 trillion won (US$7.2 billion) last year, down 32 percent from two [...]
SEOUL, May 17 (Korea Bizwire) — South Korea’s major business groups increased their spending by 22 percent in the first quarter of the year in the face of the new coronavirus outbreak, industry data showed Sunday. According to the data compiled by industry tracker CEO Score, 373 companies affiliated with 59 business groups spent 21.78 [...]
SEOUL, April 16 (Korea Bizwire) — South Korea’s large business groups are continuing to provide support to India, which has enacted strict measures to limit the spread of new coronavirus. Although factories have been closed due to the national lockdown, Korean companies have been increasing support activities for local residents most affected by the outbreak. [...]
SEOUL, March 25 (Korea Bizwire) — South Korean conglomerates are using their global networks and resources to help provide quarantine supplies here, industry insiders said Wednesday, as they step up support for the country’s fight against the novel coronavirus. Major business groups like Samsung and LG have already donated cash and offered their facilities to [...]
SEOUL, March 24 (Korea Bizwire) — Major business groups in South Korea greatly expanded their bank loans this month, data showed Tuesday, amid a potential credit crunch caused by the new coronavirus outbreak that apparently limited their direct financing. As of March 20, outstanding loans extended by five major banks to large companies came to [...]
SEOUL, March 13 (Korea Bizwire) — South Korea’s major conglomerates pushed back their hiring schedules due to the novel coronavirus, industry officials said Friday, amid concerns that they may scale down their employment plans in the first half of the year. Samsung Group, South Korea’s largest conglomerate, said it is very likely to postpone its [...]
SEOUL, March 9 (Korea Bizwire) — The ongoing coronavirus epidemic is forcing conglomerates to allow employees to work at home over an extended period. While it began as means to prevent the coronavirus, companies are using the occasion as a chance to test digital transformation, one of the leading concepts of the Fourth Industrial Revolution. [...]