The government aims to prevent the manipulation of treasury stocks for the enhancement of controlling stakes without additional investments. To achieve this, it has prohibited the issuance of new shares for treasury stocks during corporate spinoffs and strengthened disclosure regulations, including
The Food and Drug Administration announced on Jan. 3 that it is currently suspending sales and recalling the Orion food company’s popular “Custard” snack after detecting food poisoning bacteria in the product. Custard is considered to be one of Orion’s signature products alongside Choco Pies.Accordi
The U.S. International Trade Commission (ITC) has conceded a defeat in the five-year-long washing machine war between the United States and Korea, but Korean companies are complaining that a more complicated situation is facing them. Samsung Electronics and LG Electronics have been able to increase
Civic groups in Korea held a press conference condemning Samsung Electronics and urged a complete ban on methanol use following a fatal accident from methanol poisoning at a second-tier partner of Samsung Electronics in Vietnam.On March 29, 16 civic groups, including Banolim which protects the healt
A methanol poisoning accident at a second-tier partner of a Samsung Electronics plant in Vietnam killed one person and injured about 30 others.While Vietnamese authorities are investigating whether a local supplier delivered fake ethanol mixed with a large amount of methanol to the partner, Samsung
Samsung Electronics is expected to spend approximately 10 trillion won more on the construction of a foundry plant in Taylor, Texas, in the U.S. than initially expected, drawing attention to the Korean semiconductor giant’s investment strategy on facilities over a sluggish period in the world semico
U.S.-based hedge fund Whitebox Advisors LLC has publicly opposed LG Corp.’s spin-off plan immediately after the National Assembly passed Commercial Act and Monopoly Regulation and Fair Trade Act amendments.“The plan sacrifices minority shareholder return in order to resolve a family succession issue
Hanwha Defense's armored vehicle "Redback," named after a poisonous spider that kills a snake, will go to Australia on July 28 to win the 5.54 trillion-won Australian Army armored vehicle acquisition project. The Redback has been selected as one of the two finalists. It will compete with the Ger
The author is a columnist. -- Ed. Surviving the coming economic tsunamiNot only the media and social networking sites but also universities, expert groups, and consulting companies are warning that an economic tsunami is approaching. I see countless messages warning me to prepare for this and get re
The government-proposed amendments to the Enforcement Decrees of the Commercial Act and the Capital Markets Act will let the Korean government infringe upon the autonomy of business management with a lower law violating a higher law, panelists pointed out at a seminar organized by the Federation of
As Saudi Aramco recently announced a series of plans to invest in the South Korean market, concerns are growing among domestic refining and chemical companies that the oil giant may gobble up the domestic market. Aramco is on a collision course with South Korean refining and chemical firms as it is
POSCO has decided to pull out of the magnesium business after 13 years of investment. The group has suffered a steady loss due to erroneous demand forecasts and it has been continuously facing environmental problems, such as greenhouse gas emissions and soil pollution.Recently, POSCO has internally
The Korea Economic Research Institute (KERI) has urged the Korean government to introduce management rights defense measures in a hurry to block activist hedge funds.The institute has recently analyzed a report from Activist Insight, a company researching data related to activist hedge funds, and fo
The South Korean government has recently laid out plans to greatly relax regulations on private equity funds (PEFs). Under the proposed regulations, any form of PEFs will be able to participate in the management of the companies they have invested in, even when their stakes are less than 10 percent.
With South Korean companies, including Hyundai Motor Group, facing more management intervention from foreign activist hedge funds in the process of pushing for governance reform, listed firms are raising their voices to call for measures to protect their management rights.The Korea Listed Companies
The Korean political community and economic ministries are raising their voices to better protect managerial rights of Korean corporations as US activist hedge fund Elliott Management attempts to intervene in the management of the Hyundai Motor Group by demanding the adoption of cumulative voting. L
Since its day one, the Moon Jae-in administration has reduced the number of cross-shareholding structures in large corporations from 93 to 12 while the number of holding companies increased by 31 to 193 from the third quarter of 2016 to the third quarter of 2017.Still, the South Korean government’s
The Korea Fair Trade Commission (KFTC) is examining the illegality of the destination clauses of LNG import contracts between South Korean gas companies and exporters such as Qatar. At present, the KFTC and LNG importers in South Korea are regarding the clauses as a kind of poison pill.This controve
Concerns that an ill-advised restructuring of the shipping industry without medium and long term strategies will end up weakening the competitiveness of related industries are becoming reality.According to shipping industry sources on April 25, Hyundai Merchant Marine Co. (HMM) sold its 40 percent p
It has been found that South Korean fast food store Lotteria was fined for violating food safety regulations in Vietnam as well.According to local media reports, including Vietnam Net, Lotteria Vietnam was fined about 7.8 million won (US$6,821) from the Ho Chi Minh City Department of Food Safety in