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 [...]
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 [...]
SEJONG, Dec. 27 (Korea Bizwire) — South Korea’s top 10 companies accounted for 36.2 percent of the country’s exports in 2017, data showed Thursday, in the latest sign of economic domination by family-controlled conglomerates. The data compiled by Statistics Korea and the Korea Customs Service showed that the combined outbound shipments of the 10 companies [...]
SEOUL, Sept. 5 (Korea Bizwire) — South Korea’s dependence on large companies for economic growth deepened in 2017, with global tech giant Samsung Electronics Co. alone accounting for nearly 15 percent of its gross domestic product (GDP), a corporate tracker said Wednesday. The combined sales of Samsung and the nine other largest companies by turnover [...]
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 [...]
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 [...]
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 [...]
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. [...]
SEOUL, Dec. 27 (Korea Bizwire) — Outside directors at South Korea’s major conglomerates play an insignificant role in corporate decisions, with their agenda disapproval rate remaining very low, a government report showed Wednesday. Of the 4,361 motions forwarded for approval by the board of 169 listed companies in the one-year period from April 2016, only [...]
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 [...]