SEOUL, June 10 (Korea Bizwire) — Samsung C&T, the construction arm of Samsung Group, said Wednesday its plan to merge with the group’s de facto holding firm doesn’t hurt shareholders’ interests, refuting a U.S. hedge fund’s claim that the builder is undervalued. In late May, Samsung C&T unveiled the plan to merge with Cheil Industries in [...]
SEOUL, June 10 (Korea Bizwire) — The number of executives at South Korea’s conglomerates have declined in the first quarter, a report showed Wednesday, as many businesses here scrambled to cut back costs amid a protracted economic slowdown. The number of high-ranking executives at 268 firms affiliated with 30 local conglomerates stood at 10,486 in [...]
SEOUL, Jun. 9 (Korea Bizwire) — A U.S. activist hedge fund said Tuesday it filed a court injunction to stop South Korea’s top conglomerate Samsung Group from merging two key units. The legal action by Elliot Management comes after Cheil Industries Co., Samsung’s de facto holding company, announced a plan to take over construction and [...]
SEOUL, Jun. 5 (Korea Bizwire) — A U.S. hedge fund’s stake hike in Samsung C&T Corp. and objection to a proposed merger with Cheil Industries Inc. may not be strong enough to upend the well-orchestrated plan, but it could complicate Samsung Group’s restructuring move ultimately aimed at a smooth leadership change, market watchers said Friday. [...]
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, Jan. 22 (Korea Bizwire) – Samsung Group’s B2B and B2C affiliate companies have scored favorable responses among consumers in Saudi Arabia. According to recent data, the Seoul-based electronics powerhouse has grabbed the top spot on the BrandIndex Buzz Rankings, an annual brand-perception monitoring report created by market research firm YouGov. Samsung Electronics recorded a [...]
SEOUL, Dec. 11 (Korea Bizwire) — “Raemian,” the brand for Samsung C&T‘s apartments, was ranked No. 1 for 15 consecutive years in the apartment brand category by BrandStock. According to the brand evaluation company on December 10, Raemian of Samsung C&T took the position in the apartment category by winning 829.7 points out of 1,000 in the [...]
SEOUL, Dec. 3 (Korea Bizwire) — As Samsung Group announced its annual president-level reshuffling results on December 1, the attention is now paid to the follow-up announcement on executive-level personnel change and the group affiliates’ organizational change. As for president-level change, the number of presidents sacked and appointed has been somewhat reduced from the last year. [...]
SEOUL, Sep. 26 (Korea Bizwire) — As Samsung SDS passed the preliminary review for the initial public offering on September 25, it expects to list its shares by November this year. The Samsung Group company plans to hold a public subscription by next month, with shares held by the group affiliates to be sold to third-party buyers instead [...]