SEJONG, March 31 (Korea Bizwire) - The South Korean government on Thursday decided to extend the operational licenses of local duty-free stores to 10 years from the current five and have them automatically renewed in a bid to help the retail industry do business in a stable and predictable environment. In a minister-level meeting in Seoul, the [...]
SEOUL, March 30 (Korea Bizwire) – Hanwha Techwin Corp., a defense unit of major South Korean business group Hanwha, is set to take over a defense affiliate under power and construction equipment conglomerate Doosan, for 700 billion won (US$600 million), industry sources said Wednesday. Hanwha Techwin was picked as the preferred bidder for Doosan DST, beating [...]
SEOUL, Aug. 25 (Korea Bizwire) – The Financial Times (FT) of England reported that Koreans, who used to work the most and rest the least, have recently showed a tendency to take longer vacations. According to Expedia, a global travel agency, the average Korean took 8.6 days off every year, which was the lowest among [...]
“M&As are the most efficient way to improve the competitive power of a company, and result in its growth. In advanced markets, even hostile M&As occur freely. It is true that companies need to understand and protect minority shareholders as well as major shareholders to be fair. But would we need to protect them in [...]
SEOUL, Apr. 21 (Korea Bizwire) — The head of South Korea’s largest power equipment maker Tuesday quit all his public posts as an email he sent to professors containing foul language went public. Park Yong-sung, who heads Doosan Heavy Industries & Construction Co., said he will also resign as the chairman of the board at [...]
SEOUL, Oct. 16 (Korea Bizwire) – As much as 10 percent of all stocks held by the owner families of top-30 conglomerates is being pledged as collateral for their loans with banks and other financial institutions. Of these, the collateral-to-stock ratios of seven business groups including Doosan, Dongbu, and Hanjin were in excess of 50 percent while [...]