SEOUL, Nov. 21 (Korea Bizwire) – While Costco, the U.S. warehouse discount store, achieved a milestone in South Korea with annual sales exceeding 6 trillion won for the first time, its social contributions in the country have dwindled. Moreover, the company remitted a dividend to its U.S. headquarters that surpassed its annual operating profit. Costco Korea’s [...]
SEOUL, Nov. 24 (Korea Bizwire) — Large South Korean companies’ social contributions plunged nearly 37 percent in the first nine months of the year amid the coronavirus pandemic, a corporate tracker said Wednesday. CEO Score, which tracks corporate management, said 255 out of the country’s top 500 firms by sales donated a combined 1.01 trillion [...]
SEOUL, Feb. 17 (Korea Bizwire) — Global luxury brands are raking in huge dividends in the South Korean market, while being stingy about making donations. According to the 2019 audit reports of ten foreign luxury brands, their local branches paid 140.2 billion won (US$126 million) in dividends and commissions to their headquarters. The combined sales [...]
SEOUL, Jan. 11 (Korea Bizwire) — A new online shopping mall has been opened to connect ‘good consumers’ and ‘good suppliers’ and make social contributions. The Korea National Council on Social Welfare announced on Thursday that it will begin operation of a new Value Creator Platform (VCP) that combines merchandise with social projects. VCP is [...]
SEOUL, Nov. 19 (Korea Bizwire) — Social contributions by South Korea’s 500 largest companies jumped more than 30 percent in 2017 thanks to more favorable political and other conditions, a report said Monday. Out of the top 500 firms by sales, 198 businesses contributed a combined 2.7 trillion won (US$2.4 billion) to social activities last [...]