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, March 18 (Korea Bizwire) – South Korea’s two leading conglomerates — Samsung Group and Shinsegae Group, which share the same lineage — have been locked in an unusual conflict over mobile payment tools, industry sources said Friday, as the two are promoting their respective platforms. According to the sources, Samsung’s service sector entities, including Hotel [...]
SEOUL, Aug. 6 (Korea Bizwire) — The heads of South Korea’s major business groups own puny stakes in their affiliates, but a complex cross-shareholding structure allows their families to exercise nearly uncontrolled power over the sprawling business empires, data showed Thursday. In South Korea’s business scene, a “group” does not refers to a legal entity, [...]
SEOUL, July 3 (Korea Bizwire) – Suh Kyung-bae, chief of South Korea’s top cosmetics maker AmorePacific Group, has become the country’s richest man in stock value, overtaking former No. 1 Samsung Group Chairman Lee Kun-hee, market data showed Thursday. Stocks owned by Suh were valued at 12.8 trillion won (US$11.4 billion) as of Thursday, while [...]
SEOUL, June 30 (Korea Bizwire) — Cheil Industries, the de facto holding company of Samsung Group, pledged Tuesday to deliver more dividends to shareholders and revamp its overall governance structure, as it seeks to convince investors ahead of a key shareholders meeting for a proposed merger with the group’s construction arm. The measures came as [...]
SEOUL, Jun. 3 (Korea Bizwire) — Samsung Group chairperson Lee Kun-hee was observed on May 22 in a hospital room at Samsung Seoul Hospital, breathing on his own and not dependent on any life-support system, for the first time since he was admitted following a heart attack in May 2014. Online news portal The Fact [...]
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, May 26 (Korea Bizwire) – Cheil Industries and Samsung C&T, two key affiliates of South Korea’s top conglomerate Samsung Group, said Tuesday they are planning to merge by the end of August. “Under the merger agreement, subject to approval from the two companies’ shareholders, Cheil Industries will acquire Samsung C&T by offering 0.35 new [...]
SEOUL, May 12 (Korea Bizwire) — On May 10, exactly one year after the hospitalization of Samsung Group Chairman Lee Kun-hee from a stroke, workers in Korea’s largest business group posted numerous get-well messages on Samsung’s intranet portal “My Single,” and its in-house media portal, “Media Samsung.” In the login page of My Single, users uploaded words [...]
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) [...]