SEOUL, July 5 (Korea Bizwire) – Nearly half of South Korea’s top 30 business groups reduced their workforces in 2014 due to sluggish business, data showed Sunday, despite the government’s effort to spur their employment. As of end-December, the combined workforce of the leading business groups came to 1.27 million, up a mere 0.6 percent, [...]
SEOUL, June 8 (Korea Bizwire) – South Korean companies are rushing to step up their emergency response efforts to better protect their employees from Middle East Respiratory Syndrome (MERS), which is showing signs of a wide spread in South Korea. South Korea remains gripped by the potentially deadly disease that has claimed six lives so far [...]
SEOUL, May 19 (Korea Bizwire) — South Korea’s leading carmaker Hyundai Motor is considering a plan to build a third plant in India as part of efforts to expand its presence in the world’s second most populous country, the chairman of its parent group said Tuesday. Hyundai Motor, the flagship of the world’s fifth-largest auto [...]
SEOUL, April 20 (Korea Bizwire) – Korea’s two largest business groups, Samsung Group and Hyundai Motor Group, accounted for a significant portion of the net profits of the top 30 groups in Korea, by generating more than four fifths of their total earnings. Korea generally categorizes the top 30 business groups as representing the Korean economy, [...]
SEOUL, April 14 (Korea Bizwire) – Hyundai Motor made a dream come true by helping a Texas girl send a loving message to her astronaut father in space. Using Delamar Dry Lake in Nevada as a huge canvas, Hyundai mobilized 11 of its Genesis luxury sedans to write “Steph ♡’s you!” over an area one and a half [...]
SEOUL, April 12 (Korea Bizwire) – Hyundai Motor Group, the world’s No. 5 auto giant, saw its U.S. sales of luxury sedans more than double on-year in the first quarter, industry data showed Sunday, setting a record-high quarterly share in the segment. The combined sales of Hyundai Motor‘s premium Genesis and Equus, and Kia Motors‘s K9 in [...]
SEOUL, April 7 (Korea Bizwire) — Hyundai Motor Group‘s social enterprise Easy Move will introduce a RV Ray remodeled vehicle which allows a driver to control the car while sitting on a wheelchair. Named the ‘Ray Easy Move,’ the car will be launched at the Seoul Motor Show on April 8, said Easy Move on April [...]
SEOUL, April 5 (Korea Bizwire) — South Korea’s top conglomerates spent more on research and development and intellectual property to seek new growth engines in 2014, while cutting back on facility-related investments, a report showed Sunday. A total of 274 firms belonging to the country’s 30 largest business groups injected 35.31 trillion won (US$32.31 billion) into [...]
SEOUL, April 2 (Korea Bizwire) – The wage gap between executives and ordinary workers has continued to increase dramatically in Korea, as the disparity in salaries at the top 30 listed companies reached up to 142 times last year. According to FNGuide, a financial information provider, Samsung Electronics topped the wage disparity among the 30 largest [...]
SEOUL, March 31 (Korea Bizwire) — The head of Samsung Electronics‘ mobile division grabbed the title of the highest-paid executive in South Korea last year thanks to a hefty bonus for the division’s robust performance in 2013. Shin Jong-kyun topped the list of corporate executives’ annual salaries by getting paid 14.57 billion won (US$13.13 million) [...]