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Customs Opens Group Chat Room for Investigation into Hanjin Group

Customs Opens Group Chat Room for Investigation into Hanjin Group

SEOUL, Apr. 27 (Korea Bizwire) — South Korean customs authorities have opened a KakaoTalk group chat room for investigators of the Hanjin Group’s tax evasion and smuggling scandal. According to sources close to the government, the Korea Customs Service launched an open group chat room on messaging app KakaoTalk on Tuesday with the title ‘We are looking [...]

Hanjin Chairman Ready to Personally Pay 40 Bln Won to Ailing Shipping Unit

Hanjin Chairman Ready to Personally Pay 40 Bln Won to Ailing Shipping Unit

SEOUL, Sept. 13 (Korea Bizwire) – The chief of Hanjin Group, the parent for ailing shipper Hanjin Shipping Co., has borrowed 40 billion won (US$36 million) from banks in order to help the group’s cash-strapped shipping line, sources said Tuesday.  Cho Yang-ho, chairman of the logistics conglomerate, has pledged to provide some of his private [...]

Top-10 Business Groups See Their Net Profit Tumble in 2013

Top-10 Business Groups See Their Net Profit Tumble in 2013

SEOUL, May 8 (Korea Bizwire) – As the financial results of Korea’s major corporations worsen, the corporate tax receipts paid by the companies have also shrunk. According to the Financial Supervisory Service and FnGuide, a financial information provider, on May 7, the 87 affiliate firms within the top-ten business groups posted the pretax net profit at 50.9 [...]