SEOUL, Aug. 13 (Korea Bizwire) — Financially troubled discount store chain Homeplus Co. said Wednesday it will close 15 outlets as part of emergency management measures amid a worsening business environment. Homeplus has been under a court-led rehabilitation program since March, when two local credit rating agencies downgraded its corporate bonds from A3 to A3-, [...]
SEOUL, Aug. 6 (Korea Bizwire) — POSCO E&C, the construction arm of South Korea’s leading steelmaker POSCO Group, said Wednesday it has begun an emergency management system and temporarily suspended new orders in its infrastructure business following a series of fatal industrial accidents at company-managed construction sites. In a statement, the company said any business [...]
SEOUL, May 16 (Korea Bizwire) — Samsung Electronics is doubling down on cost-cutting measures within its television division as it continues operating under an emergency management system introduced last year to weather mounting industry pressures. According to industry sources, Samsung’s Visual Display (VD) division reaffirmed its internal austerity guidelines in a company-wide notice on May 12. [...]
SEOUL, Sept. 3 (Korea Bizwire) – In a harrowing incident that has sparked outrage and raised questions about South Korea’s emergency medical system, a 2-year-old girl fell into a coma after being denied treatment by 11 hospitals in the western Seoul metropolitan area. The child, who was suffering from a febrile seizure, a condition common in [...]
SEOUL, Jul. 1 (Korea Bizwire) — SK On Co., the loss-making battery unit of South Korea’s chip-to-construction conglomerate SK Group, said Monday it will freeze the annual pay of all executive-level officials until it turns to profit, as part of its cost-cutting measures. Under the measures, C-suite executives, including the chief executive officer, let the [...]
SEOUL, July 24 (Korea Bizwire) — South Korean steel giant POSCO Group has put itself on an emergency management footing, its holding company said Sunday, as business units across the group brace for weaker profits amid an expected slowdown of the global economy. The decision came in a Thursday meeting of Chairman Choi Jeong-woo and [...]
SEOUL, Jan. 7 (Korea Bizwire) — Renault Samsung Motors Corp. said Thursday it will reduce the number of executives and their salaries as the company has entered emergency management amid the COVID-19 pandemic. The South Korean unit of Renault S.A. has suffered a sharp decline in sales due to lack of new models and the [...]
SEOUL, Jan. 31 (Korea Bizwire) – Alcatel-Lucent, a French global telecommunications equipment company, has shown a strong interest in participating in Korea’s 2 trillion won (US$ 1.8 billion) national emergency management project, alongside Ericsson, Nokia and Huawei. Alcatel-Lucent Korea Ltd presented its LTE based emergency managing solution, and an application designed to manage disasters in [...]
SEOUL, Korea, Oct 25 (Korea Bizwire) – The National Emergency Management Agency and the National Disaster Relief Association will begin on October 24 taking recommendations from the general public for those unsung heroes who saved lives from disaster or accident situations but refused to publicize it. The recommendations will be received until November 20 and [...]