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Foreigners May Intervene in Samsung Management After Court Ruling

Foreigners May Intervene in Samsung Management After Court Ruling

SEOUL, Aug. 28 (Korea Bizwire) – Foreign stakeholders may expand their intervention in management decisions at Samsung Electronics Co. aftera Seoul court found its vice chairman de facto leader guilty of bribery, market watchers warned Sunday. Foreign investors who collectively hold more than 50 percent stake in the world’s largest smartphone manufacturer may demand the company’s board of directors be replaced as Vice Chairman Lee Jae-yong on Friday was sentenced to [...]

Samsung BioLogics Suffers Operating Loss During Second Quarter

Samsung BioLogics Suffers Operating Loss During Second Quarter

SEOUL, July 24 (Korea Bizwire) – Samsung BioLogics, a biopharmaceutical unit of South Korea’s top conglomerate Samsung Group, suffered a loss in the second quarter despite a rise in sales, the company said Monday. Sales jumped 33 percent on-year to 63.2 billion won (US$57 million) during the April-June period, the company said in a regulatory [...]

Samsung Group Heads Take Lecture on Mathematics

Samsung Group Heads Take Lecture on Mathematics

SEOUL, March 28 (Korea Bizwire) – On March 23, Samsung Group executives took part in a lecture given by a renowned mathematician. Park Hyung-ju, a professor at Aju University and head of the National Institute of Mathematical Sciences, was invited to Samsung’s headquarters in Seocho to present a lecture on the history and importance of mathematics. Professor [...]

Samsung, Shinsegae in Conflict Over Mobile Payment Tool

Samsung, Shinsegae in Conflict Over Mobile Payment Tool

SEOUL, March 18 (Korea Bizwire) – South Korea’s two leading conglomerates — Samsung Group and Shinsegae Group, which share the same lineage — have been locked in an unusual conflict over mobile payment tools, industry sources said Friday, as the two are promoting their respective platforms. According to the sources, Samsung’s service sector entities, including Hotel [...]

Koreans Spend More Than Two Hours on Smartphone Apps Daily

Koreans Spend More Than Two Hours on Smartphone Apps Daily

SEOUL, Sept. 22 (Korea Bizwire) – South Koreans spend more than two hours using smartphone applications every day on average, a study showed Tuesday, with teenagers being the most app-dependent generation among the age groups surveyed. The survey taken by Cheil Worldwide, an advertisement arm of Samsung Group, showed that the average South Korean spends 2 [...]

Samsung and Hyundai Slash Cash Reserves While Others Raising Them

Samsung and Hyundai Slash Cash Reserves While Others Raising Them

SEOUL, Sept. 14 (Korea Bizwire) – Samsung and Hyundai Motor groups slashed their cash reserves in the first half of the year, while other major conglomerates increased their cash piles, data showed Sunday. Listed affiliates of Samsung Group, South Korea’s top family-controlled conglomerate, had a combined 40.5 trillion won (US$34.1 billion) in cashable assets as [...]

Former High-rank Government Officials Favored for Outside Directors

Former High-rank Government Officials Favored for Outside Directors

SEOUL, Aug. 26 (Korea Bizwire) — South Korea’s major business groups prefer retired public officers as outside directors, data showed Wednesday, in a widespread practice to expand their network in the government. According to corporate researcher CEO Score, 38.6 percent of 609 outside directors serving at 187 listed firms affiliated with the nation’s top 30 [...]