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 [...]
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 [...]
SEOUL, Aug. 24 (Korea Bizwire) — South Korea’s top 30 conglomerates have seen their sales growth and profitability worsen over the past six years amid increased costs, a report showed Thursday. Per capita sales of 164 listed companies belonging to the leading business groups fell at an annual average rate of 1.8 percent between 2011 [...]
SEJONG, Dec. 22 (Korea Bizwire) – South Korea’s big businesses still lack transparency in their governance as owner families still have a strong grip on influence without seats on the board of directors through cross-ownership, the state corporate watchdog said Thursday. The percentage of owners or their relatives who are listed as board members of [...]
SEOUL, Nov. 14 (Korea Bizwire) – A number of South Korea’s tycoons, including Hyundai Motor Group Chairman Chung Mong-koo and Samsung Electronics Vice Chairman Lee Jae-yong, were summoned by prosecutors over the weekend for questioning over their companies’ cash donations to two dubious foundations controlled by President Park Geun-hye’s scandal-ridden confidante Choi Soon-sil, prosecution sources [...]
SEOUL, Nov. 9 (Korea Bizwire) – The average tenure of CEOs at South Korea’s top 30 conglomerates and their affiliates is 2.5 years, with 18 percent of them leaving in less than a year, a survey by a corporate tracker said Wednesday. According to CEO Score, executives stayed on for more than three years at [...]