The combined corporate taxes to be paid by listed firms of South Korea's top 10 business conglomerates more than halved as their profits dropped in the first six months.The combined operating profit of 96 listed firms of the country’s 10 largest business groups in terms of assets came to 24.95 t
Chaebol family members are becoming corporate executives at a younger age than before.The number of chaebol children who were born after 1970 and have become executives at major business groups is estimated at 130. Three major business conglomerates are run by a chairman in his 40s and others have e
Heads of South Korea's top 10 conglomerates have seen the aggregate value of their stockholdings decrease by more than 5 trillion won (US$4.42 billion) this year. The drop in the value of their stocks were caused mainly by a trade war between the United States and China and a rise in U.S. intere
The GS Group has decided to invest 20 trillion won (US$17.87 billion) and create 21,000 jobs in the next five years. It presented its investment and job creation plans following Samsung, Hyundai Motor, SK, LG, Hanwha and Shinsegae groups.Accordingly, most of South Korea’s top family-run business gro
According to Activist Insight, activist hedge funds intervened in the management of approximately 300 companies worldwide by purchasing treasury stocks or demanding more dividends or spinoffs in the first half of this year. The number increased by 23 percent from a year ago, and is expected to reach
The government and the ruling party have decided to reform the ownership structure of the country's family-run conglomerates amid a public backlash over the escalating power struggle in the Lotte Group.Presided over by Rep. Kim Jung-hoon, chief policymaker of the ruling party, the government and
Even fans of soju or wine would have liked the premium beers presented at JJ Mahoney’s last Thursday night. Eight different Belgian beer breweries participated in a beer sampling event arranged by the Belgian Embassy. Each brewing company presented two different kinds of beer, so a total of 16 diffe
SEOUL, Feb. 27 (Yonhap) – The nation’s top court on Thursday upheld a four-year jail sentence against the head of the country’s third-largest conglomerate, SK Group, for embezzling company funds.Chey Tae-won was convicted of embezzling 46.5 billion won (US$43.6 million) from two SK Group affiliates,
SEOUL, Feb. 11 (Yonhap) – South Korea’s two largest entertainment companies, which include performers such as Big Bang, Girls’ Generation, and Psy, have become members of the country’s main lobby group for big businesses, an official press announcement said Tuesday.The Federation of Korean Industrie
SEOUL, Feb. 7 (Yonhap) -- The chief of Schindler Holding AG said that buying Hyundai Elevator Co.’s lift business can still be considered if conditions permit, although he does not think such a development is likely to occur without outside intervention.In a telephone conference with journalists, Al
Schindler Holding AG, a leading global moving solutions provider, said Monday that it will boycott Hyundai Elevator Co.’s decision to seek a paid-in capital increase that it says does nothing to improve the situation of the elevator company.The announcement follows Schindler’s compensation lawsuit l
The Financial Services Commission (FSC) said on November 21 that financial arms of conglomerates will face tightened restrictions from next year about funding their parent companies against default. Such a measure intends to close the loophole through which conglomerates divert their affiliates’ ass
President-elect Park Geun-hye came up with various pledges during her campaign, one of the most controversial being economic democratization. This was a key phrase on which the ruling and opposition parties demonstrated a sharp conflict of opinion during the election campaign. She tabled the seemin