SEOUL, Dec. 15 (Korea Bizwire) – Lotte Group became the first South Korean conglomerate to make paternity leave mandatory for male employees, marking a significant step forward in changing Korea’s strenuous working culture. The new company policy affects all its affiliates, and obliges male employees to take a minimum of one month of paternity leave [...]
SEOUL, Dec. 7 (Korea Bizwire) – Samsung vice chairman Lee Jae-yong’s reluctant promise during Tuesday’s parliamentary hearing over the Choi Soon-sil scandal to disband the group’s Future Strategy Office – the key department responsible for the group’s decision-making process for all Samsung affiliates – has raised questions as to how other Korean conglomerate groups’ so-called [...]
SEOUL, Nov. 29 (Korea Bizwire) – Lotte Corporation erected a statue of German writer Johann Wolfgang von Goethe Tuesday in the open park behind Lotte World Tower, the tallest building in South Korea. The 5.15-meter statue is a duplicate of sculptor Fritz Schaper’s Goethe Monument (1880) in Berlin’s Tiergarten Park, and will be available for [...]
SEOUL, Nov. 29 (Korea Bizwire) – Routine year-end corporate activities have been suspended this year as CEOs await a prosecutorial investigation over a presidential scandal, delaying reshuffles for next year’s business planning and bonus payments, corporate sources said Tuesday. At Samsung, the reshuffle of executive-level officers, usually carried out on the first Tuesday of December, [...]
SEOUL, Nov. 25 (Korea Bizwire) – The total number of department stores operating across the country came to 100 last year, industry watchers said Friday, as more leading players are aggressively expanding and diversifying their outlets. A total of 100 department stores were operating as of the end of 2015, with the number to increase [...]
SEOUL, Nov. 15 (Korea Bizwire) – South Korea’s defense ministry is set to conclude a deal to acquire a site for an advanced U.S. missile defense system from Lotte Group, a military source said Tuesday. The Ministry of National Defense has tentatively agreed to secure the Lotte Skyhill Country Club in the southeastern rural county [...]
SEOUL, Oct. 6 (Korea Bizwire) – Lotte and Shinsegae, two of Korea’s retail giants, are pushing forward with efforts to provide more opportunities for women to move up in their corporate hierarchies, implementing women-friendly systems as part of their company policies. According to industry watchers, Shinsegae’s discount store franchise E-Mart instituted a shortened work-hour system [...]
SEOUL, Oct. 4 (Korea Bizwire) – Thirty years after its site was selected, Korea’s (and the OECD’s) tallest building yet, Lotte World Tower, has finally seen the completion of its exterior structure. With only the finishing touches remaining, construction is expected to wrap up on December 22. Located in Jamsil, a neighborhood in southeast Seoul’s [...]
SEOUL, Sept. 29 (Korea Bizwire) – The chief of the embattled South Korean retail giant Lotte avoided arrest Thursday as a Seoul court rejected a prosecutors’ request for a warrant to formally arrest him over embezzlement and breach of trust charges. The Seoul Central District Court turned down the request, saying it’s difficult to recognize [...]
SEOUL, Sept. 26 (Korea Bizwire) – A warrant is being sought to formally arrest the chief of the embattled South Korean retail giant Lotte, prosecutors said Monday, as the high-profile corruption probe into the country’s fifth-largest conglomerate nears its conclusion. The Seoul Central District Prosecutors’ Office submitted the request to a local court to detain [...]