According to data which the Financial Supervisory Commission (FSC) submitted to Park Yong-jin, a lawmaker of the Minjoo Party on May 4, Samsung Life Insurance had the lowest ratio of paying insurance money within three business days among 24 life insurers last year and paid 14.4% of insurance money

Ticket Monster, an e-commerce company in Korea, faced harsh media criticism recently for running an ad that reminds people of the sinking of the Sewol Ship amidst continuing marketing controversies caused by its mismanagement.On April 11, the third anniversary of the “Sewol Ship Incident," one image

During a press conference to celebrate an official opening of the Paradise City casino resort on Yeongjong Island, Incheon, on April 20, Paradise Group Chairman Jeon Phillip said, “As the first multi-complex resort in Northeast Asia, we will make the Paradise City as one of the best hallyu tourist d

There is a rumor that Hanwha Group will reorganize its defense businesses when the new government takes office. The group has said that there will be no defense business reshuffle in the near future, but it is expected to accelerate the reorganization of its defense business units under the next adm

Korean Air, the nation's largest airline, has been grappling with a series of unfavorable factors. The airline had been found to have failed to carry out proper maintenance inspections of aircraft before take-off and neglected the management of customers' personal information.According to the Minist

Controversy has been aroused by the GM Korea Labor Union’s demand for a 500-percent performance-based bonus in their wage negotiation of this year. It is pointed out that the trade union's demand went too far as the automaker suffered hundreds of billions of won in losses for three straight years du

Samsung Electronics announced on April 27 that it would not adopt a holding company structure. “After deliberating on the matter for about five months, we have reached a conclusion that the structure is rarely beneficial to our business competitiveness and can pose a burden on our business by disper

A co-pilot’s sexual assault of a female flight attendant is stirring up controversy at Korean Air which was put in a hole by the nut rage of Cho Hyun-ah (former vice president of Korean Air).The 3rd Criminal Investigation Department at the Incheon District Prosecutor's Office announced on April 25 t

Ticket Monster recently attracted investment from South Korean handbag manufacturer Simone. The former is aiming to go public on KOSPI by taking this opportunity to prove its growth potential and enhance its financial soundness. Earlier, Ticket Monster was planning to go public on KOSDAQ. However, i

A firestorm of protest has been sparked off as Starbucks Korea's manner campaign depicts all finicky customers as females. The start of the controversy is Starbucks Coffee Korea's three-part "Creating Starbucks Where Both Customers and Crew Members Happy" campaign which has been held since January.

The Doosan Group announced on April 19 that the 'Doosan Day of Community Service' event was held by employees of its business sites all over the world.This year, in particular, the event marks its fifth anniversary with the participation of about 7,000 employees in 16 countries around the world incl

Korea Western Power (KOWEPO) announced on April 17 that the company signed a technical agreement for the operation and maintenance of coal power generation and renewable power generation facilities at a power plant in Shanxi Province, China with Gemeng International of China.Korea Western Power, whi

Kumho Asiana Group Chairman Park Sam-koo decided not to exercise his right of first refusal to acquire a stake in Kumho Tire. However, he urged creditors for a fair rebid, calling the process of selling led by state-run Korea Development Bank (KDB) “unjust and unfair.” Accordingly, the takeover batt

The Orion Group announced on April 12 that the company donated 50,000 Choco Pies to Peru seriously damaged floods under an El Niño phenomenon.Lee Kyu-hong, vice president of Orion, flew into Peru and met Mercedes Araoz, vice president of Peru to offer his condolence and deliver the products to the v

According to industry sources on April 10, the National Tax Service (NTS) has imposed 314.7 billion won (US$275.74 million) in corporate taxes for alleged tax evasion on Oracle Korea after conducting a tax audit of the company for four months from July 2014.Through the audit, the NTS said it found t

Samsung Electronics is expected to pay more than 500 billion in tax after receiving a tax probe from the National Tax Service.According to the Korean business world and Samsung Electronics, the 1st Investigation Division of the National Tax Service’s Seoul Metropolitan District launched a tax invest

The Korea Fair Trade Commission (FTC) said that the merger of Dow Chemical and DuPont can restrain the competition in the acid co-polymer sector and ordered to sell the related assets.The FTC announced on April 9 that it reviewed the merger of “The Dow Chemical Company” and “E. I. du Pont de Nemours

As of the end of last month, Starbucks Coffee Korea stores totaled 1,008. In terms of stores per capita, Korea had double the number of Starbucks stores in Japan and ranked fourth in the world. Starbucks Korea (Lee Seock-koo,CEO), which entered Korea in 1999, has been quite aggressive. Starbucks sto

The Hyundai Heavy Industries (HHI) group, which launched four separate companies recently, will invest a combined 3.5 trillion won (US$3.1 billion) in R&D activities by 2021.The HHI group said on April 3 that it officially launched four independent business units -- HHI, Hyundai Electric and Energy

Mirae Asset Financial Group Chairman Park Hyun-joo decided to donate all of the 2016 dividends worth 1.6 billion won that he received from Mirae Asset Global Investments at its shareholders meeting on March 30, the company said on April 3.Chairman Park is the largest shareholder with a 60 percent st