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Samsung C&T Hires Ex-GE Executive As Outside Director

Samsung C&T Hires Ex-GE Executive As Outside Director

SEOUL, Feb. 28 (Korea Bizwire) – Samsung C&T Corp., the construction unit of Samsung Group, said Wednesday it hired a former General Electric Co.’s productivity expert as an outside director to enhance shareholders’ value by improving the governance structure. Philippe Cochet, 58, who served as chief productivity officer at GE, the United States’ largest industrial conglomerate, is expected to [...]

Court Backs Merger of Two Samsung Units

Court Backs Merger of Two Samsung Units

SEOUL, Oct. 19 (Korea Bizwire) – A Seoul court ruled Thursday in favor of Samsung C&T Corp. and found its 2015 merger with another affiliate was lawful. The Seoul Central District Court turned down the request from Ilsung Pharmaceutical Co., a former major stakeholder of Samsung C&T, to nullify the merger with Cheil Industries Inc. The controversial merger of the two Samsung units was seen as part of the group’s succession plan for its heir Lee Jae-yong [...]

Environmental Groups Call for Greater Regulation of Conglomerates’ Coal-Powered Plants.

Environmental Groups Call for Greater Regulation of Conglomerates’ Coal-Powered Plants.

SEOUL, Oct. 6 (Korea Bizwire) — Environmental groups called for increased government regulations on privately owned coal-fired power plants’ claims that their coal plants are eco-friendly and provide clean energy. Greenpeace and the Green Consumer Network in Korea said that they presented a petition to the Anti-Corruption and Civil-Rights commission to regulate Posco Energy, SK [...]

S. Korean Firms Celebrate Power Plant Completion in Chile

S. Korean Firms Celebrate Power Plant Completion in Chile

SEOUL, May 29 (Korea Bizwire) — A South Korean consortium has held a ceremony to mark the completion of a gas-fired combined cycle plant in Antofagasta, Chile, that will supply electricity to BHP Billiton Ltd.’s copper mine. Samsung Engineering Co., a construction unit of Samsung Group, celebrated the opening of the 517 megawatt plant Friday [...]

Samsung Apartments Equipped with Anti-Fine Dust Systems

Samsung Apartments Equipped with Anti-Fine Dust Systems

SEOUL, April 18 (Korea Bizwire) – Samsung Construction & Trading Corporation announced Monday that it is introducing fine dust filtering systems and air quality control devices at its upcoming Raemian apartments in Sinbanpo and Seokgwan-dong, Seoul.  The IoT Home Cube, a portable device developed by Samsung C&T’s residential engineering division, measures the fine dust concentration [...]

Securities Analysts Anxious amid Investigation of Controversial Samsung M&A

Securities Analysts Anxious amid Investigation of Controversial Samsung M&A

SEOUL, Nov. 28 (Korea Bizwire) – Last week, prosecutors began probing the $8-billion merger in 2015 between two Samsung affiliates – Samsung C&T and Cheil Industries – over the possibility that Choi Soon-sil, the center figure in Korea’s influence-peddling scandal, may have also been behind Samsung’s controversial deal.  The merger faced strong challenges from individual [...]