With Korea Aerospace Industries (KAI) facing more than 18.8 billion won in damages after inclusive wage application to its office employees, similar cases are likely to follow one after another in a large number of South Korean companies.At present, almost all of the top 10 South Korean business gro

Samsung Electronics appointed its outside director and former Strategy and Finance Minister Park Jae-wan as the chairman of the board on Feb. 21. Those in the business community have expressed mixed opinions on the issue. Some have welcomed the decision in that the independence of the board of direc

On Feb. 20, Samsung vice chairman Lee Jae-yong checked on an exclusive extreme ultraviolet (EUV) foundry line which began to run for the first time in the world in Feburary, and once again, made clear its will to make Samsung Electronics the world leader in non-memory semiconductors in 2030.Samsung

As Chung Mong-koo, chairman of the Hyundai Motor Group stepped down as chairman of the board of directors, senior vice chairman Chung Eui-sun is expected to further solidify his position. Therefore, stronger winds of changes and reforms are expected to blow at the Hyundai Motor Group. But it remains

Unionized workers at Samsung Display officially launched a labor union on Feb. 17.The labor union submitted a union establishment report to the Asan City government in South Chungcheong Province on the day. Under the current Trade Union Act, the establishment of a union only requires submission of a

Hyundai Motor Group chairman Chung Mong-koo will be inducted into the Automotive Hall of Fame, the industry’s top honor, in the class of 2020.Chung will be the first Korean inducted into the Automotive Hall of Fame, which was established in 1939 and has honored nearly 800 business leaders from aroun

HDC Holdings Co., the holding company of HDC Hyundai Development which has acquired Asiana Airlines, announced on Feb. 5 that it will acquire 10.07 million shares of HDC Hyundai Development by participating in its capital increase. HDC Hyundai Development plans to increase its capital by 400 billion

Hanjin Group chairman Cho Won-tae is facing a proxy fight with his elder sister Cho Hyun-ah, a former vice president of Korean Air, over the control of Korea’s 13th largest business group.The two children of the late former Hanjin Group chairman Cho Yang-ho are planning to appeal to minority shareho

Unionized workers at major banks such as Industrial Bank of Korea (IBK) and Korea Development Bank (KDB) are advocating director recommendation by themselves and this has to do with the Moon Jae-in administration’s labor-friendly policy. Earlier, the government officially announced in July 2017 that

Elliott Management, an activist U.S. hedge fund, has reportedly sold off its entire stakes in Hyundai Motor Group companies as its attempt to challenge the group’s controlling family over its corporate governance failed.Elliott announced in April 2018 that it had acquired US$1 billion worth of stake

The keywords of Samsung Electronics’ annual top executive reshuffle announced on Jan. 20 appeared to be performance and generational shift.The most notable feature of the reshuffle was the appointment of Roh Tae-mun as head of the smartphone business. Roh is known to have led the development of the

The Hyundai Heavy Industries (HHI) trade union is seeking to retain union members who were promoted to assistant managers. Under the union’s 30-year-old pact with the management, employees who become assistant managers are automatically deprived of their labor union membership. But the labor union i

Hanjin KAL, the holding company of Hanjin Group, is going to handle the issue of reappointment of Hanjin Group chairman Cho Won-tae at its shareholder meeting scheduled for late March. At present, he is the only Hanjin Group owner family member that is a Hanjin KAL inside director. The family may lo

Amorepacific Group held a kickoff meeting for 2020 at its main office on Jan. 2. “In 2020, let's enjoy making changes, big and small, and step up innovation for our customers,” chairman Seo Kyung-bae said. “Let's keep in mind customer-centered management as our highest value that will never

LS Group chairman Koo Ja-yeol hosted dinner for 14 new executives promoted this year at LS Yongsan Tower in Seoul on Jan. 6. During the dinner, Koo congratulated them on their promotions and gave them advice about virtues of new executives."I am happy to see you as you are the fruit of LG Group’s gl

The National Pension Service (NPS) and the Korea Corporate Governance Improvement (KCGI) are continuing to put pressure on Hanjin Group owners involved in management disputes and inheritance tax controversies. The NPS is increasing its shareholding in major Hanjin Group subsidiaries to strengthen it

Once a symbol of authoritarianism, chaebol chairmen are taking the lead in changing the corporate culture of their business empires. In the era of the Fourth Industrial Revolution, creativity has become more important than ever, so they are seeking to establish a new corporate culture based on auton

Hanjin Group chairman Cho Won-tae and his mother, Jeongseok Group advisor Lee Myung-hee, have issued a joint apology for the uproar that erupted during their Christmas meeting."We deeply apologize for the unfortunate incident that took place last Christmas at Lee’s residence," the two said in a join

A sibling rivalry within the owner family of Hanjin Group over the control of the conglomerate has expanded into a mother-son confrontation.The group’s owner family got together for a meeting on Dec. 25 at the residence of Lee Myung-hee, advisor to Jungseok Corp. and the wife of the group’s late cha

The strike momentum of Renault Samsung Motors’ labor union is waning day by day. A majority of union members have been shunning the strike due to concerns over a production cliff. Auto industry experts say that in light of the falling strike participation by union members, the union leadership will