An allegation was made that Samyang Food had been committing internal trading for a company with a special relationship with the owner family. In addition, controversy was aroused that the holding company of Samyang Food was a bogus company.On July 10, after analyzing several years of internal tradi

The Seoul Central District Prosecutors’ Office has decided on July 11 to probe a complaint filed by the family of the four-year-old girl who fell ill on July 5 alleging that McDonald’s Korea violated food safety laws.The prosecution is soon to summon officials from the country’s biggest fast food ch

Unionized workers at GM Korea Co., the South Korean unit of General Motors Co., voted for a strike over higher salaries and other benefits on July 7. They have shown its strong intention to carry its opinion, though there are rumors that GM Korea will withdraw from the domestic market as part of its

More South Korean companies are choosing to leave China and take their businesses with them due to lingering political tension between Korea and China over the deployment of the THAAD antimissile system. However, SK Group Chairman Chey Tai-won is seeking to expand business in China by strengthening

GM Korea has faced the biggest crisis in history due to a rapid drop in domestic sales in June, resignation of president and a slow rate of negotiation with the labor union.According to industry sources on July 6, GM Korea is in the state of uneasiness after president and CEO James Kim announced to

GM Korea announced on July 3 that its president James Kim will resign from his position next month to lead the American Chamber of Commerce in Korea. “During the past two years, he has made a great contribution to an increase in sales in the South Korean market, brand awareness enhancement, and cust

During a ceremony marking the company’s 20th founding anniversary held in Four Seasons Hotel Seoul in Gwanghwamun, central Seoul, on July 1, Mirae Asset Financial Group Chairman Park Hyun-joo pledged to become a forever innovator, saying “I will create a competitive governance structure that lays gr

The Fair Trade Commission (FTC) detected alleged unfair trade practices of CJ Olive Networks which operates Olive Young stores and began an investigation into them.According to industry sources on June 28, it was confirmed that the FTC is conducting an on-site investigation by sending investigators

Hotel Shilla has become an oligopolistic duty free cosmetics shop at the Incheon International Airport.Hotel Shilla has become an oligopolistic duty free cosmetics shop at the Incheon International Airport after the opening of its second terminal. Earlier in April this year, it became the sole duty

According to the investment banking (IB) industry on June 22, shortly after the closing bell of the day, chairman Hong and other interested parties began to predict institutional investors’ demand for a block deal of 22.83 million shares of BGF Retail.Goldman Sachs is the lead manager with discount

It has been found that Kia Motors was sued by the parents of twin brothers who died on December 31, 2015 from a collision occurring in Tennessee, USA, claiming for damages amounting to US$95 million.According to Winchester-based news outlet Herald Chronicle, Aaron Hill and his wife, who reside in Co

Controversy is brewing over the disclosure of Shinhan Bank’s preliminary transfer of a son of Han Dong-woo, a former chairman of the Shinhan Financial Group (SHG) to its New York branch. It was also disclosed that the son was not originally recruited in an open recruitment system of the bank but lef

SK E&C was selected as a company with an "innovative in-house legal team" in 2017 by the Financial Times.The Financial Times selected 18 companies for having innovative legal affairs teams in the Asia-Pacific region this year, too. SK E&C is the only Korean company in the 18-company group."SK E&C ha

A lot of attention is being paid to the news that the National Tax Service recently asked the prosecution to look into Kolon Group chairman Lee Woong-yeul prior to the launch of the world's first cell gene therapy product “Invossa” developed by Kolon Life Science.According to industry sources, earli

The Paradise Group (Chairman, Jeon Phillip) is suffering from consecutive negative factors. Sales of its casinos, a major cash cow for the group, have been on decline for three months running.As if to add oil to the fire, Paradise Sega sammy, a subsidiary of the Paradise Group that has been involved

Amid outbreaks of rash and urticaria on children using infant mats made of the most advanced new material allegedly developed by the US National Aeronautics and Space Administration (NASA) and sold by Borny Korea, a domestic baby goods manufacturer, the Korea Agency for Technology and Standards said

LG Group will go over its growth engines through the affiliates’ strategic briefing sessions presided over by Vice Chairman Koo Bon-joon, starting from the middle of June. As LG Group is expected to record its highest business showings this year, boosted by LG Electronics, LG Display and LG Chem, al

Hyundai Motor is expected to hire more subcontracted workers as regular employees. The company is planning to complete a special agreement to turn 6,000 irregular workers into regular ones, which was signed with the labor union and subcontractor union in 2014, by the end of this year and select more

Chey Tae-won, chairman of the SK Group, is making big moves to find a breakthrough to the group’s Chinese business which has deadlocked since China’s fire storm sparked by South Korea’s decision to deploy the THAAD System.According to industry sources on May 28, Chey finished his business trip to Ch

Kim Young-bae, vice chairman of the Korea Employers Federation, said on May 25 that a large number of Korean companies are currently facing a very challenging situation after the government recently promised to provide a full-time position for every temporary employee working for the Incheon Interna