SEOUL, March 8 (Korea Bizwire) — One by one, Samsung Electronics is pulling the plug on its mobile content offerings. Though the South Korean tech giant leaped into the mobile content and services market to make maximum use of its dominant position as the world’s largest smartphone maker, attempts to dislodge firmly entrenched market incumbents [...]
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 [...]
SEOUL, Nov. 27 (Korea Bizwire) — Samsung C&T Corp., the construction unit of Samsung Group, said Monday it has won a US$602 million project to build an underground expressway in Singapore. Under the contract, Samsung C&T will design and construct the 1.25 kilometer stretch of the underground expressway between Novena Rise and Toa Payoh Rise, [...]
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 [...]
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 [...]
SEOUL, July 24 (Korea Bizwire) — The accumulated number of visitors to the safari theme park of Everland, South Korea’s largest amusement park, located just outside of Seoul, has topped 10 million, its operator said Monday. Since opening four years and three months ago, more than 10 million people have visited Lost Valley Safari, the [...]
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 [...]
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 [...]
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 [...]
SEOUL, May 31 (Korea Bizwire) – An appeals court ordered Samsung C&T Corp., the fashion and trading arm of South Korea’s top conglomerate, to increase the stock purchase price proposed to shareholders who were opposed to the company’s merger last year, court records showed Tuesday. Last year, Samsung C&T was formed out of a merger [...]