SEOUL, Oct. 6 (Korea Bizwire) — The interior ministry announced a government reorganization plan Thursday under which the gender ministry will be abolished while the veterans affairs agency will be elevated to the ministry level and a separate body for consular services will be newly established. The plan, announced by Interior Minister Lee Sang-min, requires [...]
SEOUL, July 29 (Korea Bizwire) — Hanwha Group, South Korea’s seventh-largest conglomerate by assets, announced Friday it will reshape its key affiliates to bolster its push for green energy, battery and semiconductor components. Hanwha will combine its two defense units and place them under the wing of Hanwha Aerospace Co., its largest defense arm that [...]
SEOUL, June 4 (Korea Bizwire) — Doosan Heavy Industries & Construction Co.’s push to reshape its business portfolio is stirring concerns over the feasibility of the overhaul plan whose centerpiece is reduction of its mainstay coal and nuclear power businesses and expansion of its clout in the renewable energy realm. In return for 3.6 trillion [...]
SEOUL, May 30 (Korea Bizwire) – The accumulated debt for Korea’s top 9 shipbuilding companies – companies with more than 1 trillion won in revenue – has exceeded 100 trillion won. According to chaebul.com Sunday, the top 9 companies’ debt exceeded 102.6 trillion won in 2015. The figure tallies up all debt from the 9 [...]
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 [...]