SEJONG, Dec. 30 (Korea Bizwire) – South Korea’s antitrust watchdog said Wednesday that it has ordered Hyundai Motor Group to resolve cross-shareholding ties derived from an intra-group merger and acquisition (M&A) between its two steelmaking units, amid the agency’s recent push to break the cobweb-like shareholding structures of conglomerates. Hyundai Steel Co. was merged with [...]
SEOUL, Sept. 21 (Korea Bizwire) – The average years of service among employees of 24 major conglomerates has increased in spite of the prolonged period of economic difficulties. Considering that the research was conducted on the 30 major corporations in Korea, the results showed that a majority of workers are staying at their jobs for a [...]
SEOUL, Sept. 14 (Korea Bizwire) – Samsung and Hyundai Motor groups slashed their cash reserves in the first half of the year, while other major conglomerates increased their cash piles, data showed Sunday. Listed affiliates of Samsung Group, South Korea’s top family-controlled conglomerate, had a combined 40.5 trillion won (US$34.1 billion) in cashable assets as [...]
SEOUL, Sept. 11 (Korea Bizwire) – Kia Motors, an affiliate of the world’s fifth largest automaker, Hyundai Motor Group, is strengthening marketing activities targeting next generation customers with an animated film. On September 10, Kia released “Super Racer Enzy,” an animated film featuring Kia characters Enzy and His Friends, at approximately 100 screens nationwide. The [...]
SEOUL, Aug. 26 (Korea Bizwire) — South Korea’s major business groups prefer retired public officers as outside directors, data showed Wednesday, in a widespread practice to expand their network in the government. According to corporate researcher CEO Score, 38.6 percent of 609 outside directors serving at 187 listed firms affiliated with the nation’s top 30 [...]
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 [...]