SEOUL, March 3 (Korea Bizwire) — Samsung Electronics has kept its top position in India’s refrigerator market while boasting an impressive double-digit annual growth rate for two consecutive years. As of last month, the South Korean electronics giant’s market share accounted for 30.7 per cent of all refrigerator sales in India., according to the Korea [...]
SEOUL, March 2 (Korea Bizwire) – Following allegations against Samsung Group and its role in President Park Geun-hye’s corruption scandal, and the subsequent arrest of its de facto leader Lee Jae-yong, Korea’s largest conglomerate decided to abolish its future strategy office while introducing a stringent screening procedure for any donations exceeding 1 billion won ($885,347) [...]
SEOUL, Feb. 28 (Korea Bizwire) – Samsung Group, South Korea’s top conglomerate, has decided to abolish its groupwide employment of new workers as part of reform measures following its involvement in a high-profile corruption scandal, officials said Tuesday. The decision follows Samsung’s move to dismantle the group’s key future strategy office, which has been responsible [...]
SEOUL, Feb. 27 (Korea Bizwire) – Lee Kun-hee, the ailing chief of South Korea’s top conglomerate Samsung Group, again topped the ranking of dividend income earners, data showed Monday. Dividend payouts to Lee, chairman of the group’s flagship Samsung Electronics Co., stood at 189.9 billion won (US$167.6 million) so far this year, according to the [...]
SEOUL, Feb. 22 (Korea Bizwire) – Lee Jae-yong, Samsung’s de facto leader, again showed up in handcuffs (covered with cloth) at the special prosecution’s office in Gangnam, Wednesday afternoon, for the third interrogation session since his arrest on February 17. South Korea’s third richest man (Forbes, 2016), after his father Lee Kun-hee and AmorePacific chairman [...]
SEOUL, Feb. 22 (Korea Bizwire) – South Korea’s major conglomerates are ramping up efforts to run their sprawling business empires in a more transparent and law-abiding way following a high-profile corruption scandal that led to the impeachment of President Park Geun-hye, sources said Wednesday. Dozens of large companies, including top conglomerate Samsung Group, have been [...]
SEOUL, Feb. 21 (Korea Bizwire) – Samsung Electronics is introducing four of its VR and AR C-Lab projects at the upcoming Mobile World Congress. Relúmĭno is a VR headset for the visually impaired, which, via image processing, converts images and text in such a way that those with disabilities can see more clearly. Monitorless, on [...]
SEOUL, Feb. 20 (Korea Bizwire) – The corporate reputation ranking of Samsung in the eyes of American consumers plunged 42 spots to 49th in 2017, according to an annual survey on Monday. The sharp drop in the survey by The Harris Poll on corporate brands came as Samsung is struggling with the global recall of [...]
SEOUL, Feb. 17 (Korea Bizwire) – Samsung Group, South Korea’s largest conglomerate, is expected to put most of its new business and investment plans on hold, at least temporarily, following the arrest of its heir-apparent Lee Jae-yong, market observers said Friday. Lee, the group’s de facto leader, was arrested early Friday on charges of bribery [...]
SEOUL, Feb. 17 (Korea Bizwire) – Lee Jae-yong, Samsung Group’s de facto leader, was formally arrested Friday on charges of bribery in connection with a high-profile corruption scandal surrounding President Park Geun-hye and her friend. With the Seoul Central District Court issuing the arrest warrant, Lee, vice chairman of Samsung Electronics Co., became the first [...]