SEOUL, Aug. 12 (Korea Bizwire) — A new economic report has argued that a score of South Korean conglomerates fighting legal battles with labor unions over so-called ‘ordinary wages’ could be forced to pay out as much as 8 trillion won under the worst-case scenario. There are currently 35 companies involved in over 103 disputes over [...]
SEOUL, July 31 (Korea Bizwire) – South Korea’s leading conglomerates had some 116 trillion won (US$103.29 billion) in cash or cashable assets as of the end of March this year, an increase of 54 percent from five years ago, data showed Monday, a sign that the companies remain hesitant about investing. Seventy-two companies were analyzed [...]
SEOUL, July 11 (Korea Bizwire) – South Korea’s top 15 conglomerates said Tuesday they will voluntarily overhaul unfair practices without any intervention from the government, a local business lobby said. In a meeting with Lee Dong-geun, vice chairman of the Korea Chamber of Commerce and Industry (KCCI), 15 business leaders agreed with general calls that [...]