SEOUL, Jan. 11 (Korea Bizwire) – A special investigation team looking into an influence-peddling scandal centered on President Park Geun-hye and her longtime friend has summoned Samsung’s heir apparent over allegations the group gave undue financial support to the confidante in return for business-related favors, its spokesman said Wednesday. Lee Jae-yong, vice chairman of Samsung [...]
SEOUL, Dec. 8 (Korea Bizwire) – The biggest beneficiary of Tuesday’s parliamentary hearing of eight Korean conglomerate chiefs into the Choi Soon-sil scandal was neither the investigative parliamentary committee, nor the prosecutors; it was Softlips, a lip balm lineup from American health care products maker The Mentholatum Company. The lip balm was brought to attention [...]
SEOUL, Dec. 6 (Korea Bizwire) – Lee Jae-yong, vice chairman of Samsung Electronics and the heir-apparent of Samsung Group, appeared Tuesday at a parliamentary hearing into the involvement of Korean conglomerates in the corruption and influence-peddling scandal surrounding President Park Geun-hye and her confidante Choi Soon-sil. Lee was one of eight Korean business tycoons (chiefs [...]
SEOUL, Oct. 27 (Korea Bizwire) – Shareholders of Samsung Electronics Co. on Thursday approved the nomination of Vice Chairman Lee Jae-yong to the electronics giant’s board of directors. The approval enables the 48-year-old Lee, the only son of the ailing Samsung Electronics Chairman Lee Kun-hee, to more actively participate and take formal responsibility in the [...]
SEOUL, Sept. 12 (Korea Bizwire) – Samsung Electronics Co. said Monday its vice chairman, Lee Jae-yong, was nominated to be a member of its board of directors, a move that will allow him to take a “more active role” in the decision-making process. The nomination of Lee, the only son of ailing Samsung Electronics Chairman [...]
SEOUL, May 3 (Korea Bizwire) — It has been almost two years since Samsung Group chairman Kun-hee Lee was hospitalized after suffering a heart attack. With a sudden void in leadership, there have been many voices of concern from both within and outside the company. After two years, however, Samsung still figures among the global [...]
SEOUL, Apr. 27 (Korea Bizwire) — A high-ranking Samsung Group official said the conglomerate will not roll out further reorganizations of affiliates, amid the rising rumor that the family-controlled giant will offload its credit card and construction businesses. “There are no more affiliates or businesses that will be offloaded,” said Kim Jong-joong, an official from [...]
SEOUL, Dec. 24 (Korea Bizwire) – This year has been a busy period for the top family-controlled conglomerate in South Korea, the Samsung Group, especially due to its struggle to pave the way for the coronation of a new generation. The head of the Samsung Group was hospitalized in early 2014. With the absence of [...]
SEOUL, Aug. 28 (Korea Bizwire) — Samsung SDI Co., the battery-making arm of South Korea’s top conglomerate, Samsung Group, said Friday it will buy the cell material division of its chemical affiliate, in a move to bolster competitiveness in the sector. Samsung SDI will take over the cell material unit of Samsung Fine Chemicals Co. [...]
SEOUL, July 3 (Korea Bizwire) – Samsung Group is planning to provide various measures to help overcome the economic recession caused by the outbreak of the Middle East Respiratory Syndrome (MERS). On July 2, the largest business group in Korea announced that it had come up with various plans to boost domestic demand that has been [...]