SEOUL, June 2 (Korea Bizwire) – South Korea’s top family-controlled conglomerates, known here as chaebol, have recently announced plans to merge their key units, in what is widely seen as a play to simplify their governance structures and help pave the way for power transfers. Betting such moves will trigger a bull run for the [...]
SEOUL, Jan. 20 (Korea Bizwire) – Lee Jae-yong, vice president of Samsung Electronics, and his two sisters held a ceremonial New Year dinner meeting with new executives Monday, the first without their father present as he remains bedridden following last year’s heart attack. Lee Jay-yong, the only son of the patriarch of South Korea’s top [...]
SEOUL, Dec. 3 (Korea Bizwire) — As Samsung Group announced its annual president-level reshuffling results on December 1, the attention is now paid to the follow-up announcement on executive-level personnel change and the group affiliates’ organizational change. As for president-level change, the number of presidents sacked and appointed has been somewhat reduced from the last year. [...]
SEOUL, Nov. 28 (Korea Bizwire) – After the 2-trillion won (US$1.8 billion) deal that sent its chemical and defense subsidiaries (including Samsung Techwin) to Hanhwa Group, Samsung plans to repurchase its business jets, which are currently under Techwin’s management. Hanwha’s acquisition of Samsung Techwin made industry watchers curious about the disposal of the Samsung Group [...]
SEOUL, Nov. 20 (Korea Bizwire) — A merger between Samsung Heavy Industries and Samsung Engineering has been shelved due to opposition by institutional investors including the National Pension Service. As the big investors exercised their stock buyback rights, the companies saw their merger cost soar and decided to call it off. Some analysts suggested that this [...]
SEOUL, Oct. 7 (Korea Bizwire) – It is reportedly known that Samsung Electronics has paid US$1.04 billion of royalties to Microsoft in exchange for using the U.S. company’s patents for making Android-based smartphones and tablets for a year. The unknown secret of how much money the Korean electronics giant is paying to the software empire was revealed [...]
SEOUL, Sep. 26 (Korea Bizwire) — As Samsung SDS passed the preliminary review for the initial public offering on September 25, it expects to list its shares by November this year. The Samsung Group company plans to hold a public subscription by next month, with shares held by the group affiliates to be sold to third-party buyers instead [...]
SEOUL, Aug. 20 (Korea Bizwire) – Samsung is spurring to the expansion of its business sector of batteries for electronic vehicles as a new cash cow for the group, amid the ailing group chairperson Lee Kun-hee and the falling sales of its smartphones. Vice Chairperson Lee Jae-yong of Samsung is known to pay particular attention in the sector [...]
SEOUL, June 5 (Korea Bizwire) – Samsung Everland Inc., a de facto holding company for the whole Samsung Group affiliates, announced a plan for public offering following the footsteps of Samsung SDS. It is likely the IPO would be in the first quarter next year. On June 3, the company held a board of directors [...]