On Sept. 13, a tripartite commission consisting of Minister of Employment and Labor Lee Ki-kweon representing the government, Chairman of the Korea Employers Federation Bahk Byong-won representing business, and President of the FKTU Kim Dong-man representing labor reached an agreement on labor refor

BusinessKorea met with Dr. Youngah Park, the current president of the Korea Institute of Science and Technology Evaluation and Planning (KISTEP), former lawmaker of the 18th National Assembly, and former professor of physics at Myungji University, to talk about the current direction of the institute

The Presidents Cup 2015 is coming to Songdo, Incheon, tomorrow, to the Jack Nicklaus Golf Club Korea – the perfect way to showcase South Korea's newest planned city to the world. BusinessKorea was able to sit down with Stan Gale, the president and CEO of Gale International, a few days ago and ask hi

The National Assembly audit on Sept. 17 has confirmed Lotte Group Chairman Shin Dong-bin’s control of the group. It was the first time that the head of one of the nation's top 10 conglomerates has appeared before an Assembly audit, attracting the attention of most businessmen this year.During a

The Hyosung Group is promoting the nation’s first carbon fiber brand of Tansome in global markets in Sept., focusing mainly on China and Europe.The company participated in the China Composites Expo 2015, an international exhibition that presents composite materials, held in Shanghai, China, from Sep

10,000 Doosan employees posted in about 200 communities of 16 countries around the world have “Doosan Day of Community Service” on Sept. 14. The day has been designated as a day for charity activities, where Doosan employees around the world voluntarily engage in various voluntary charity activities

In Russia, where concern is growing over the credit crunch due to a recent depreciation of the ruble, Samsung Electronics and LG Electronics are struggling to break through a crisis.LG Electronics has been hosting road shows in Russia from the middle of last month to Sept. 20 to showcase its new str

Among domestic duty-free shops, the Lotte Duty-Free Shop came in first in terms of incurring consumer damages. A total of 81 consumer damaging events took place at four duty free shops from 2012 to 2014, according to a report on the application for compensation for consumer damages by duty-free shop

After signing a contract with Gimcheon in Aug., E-commerce Coupang (CEO, Kim Bum-suk) entered into an investment agreement with Gwangju Metropolitan City to build a logistics center.Coupang recently announced that the company signed an agreement to invest 60 billion won (US$50 million) to build a lo

SK Hynix (CEO Park Sung–wook) announced that it has been listed on the Dow Jones Sustainability Index World (DJSI) for six consecutive years on Sept. 11.Along with the Swiss Sustainable Assets Management company, RobecoSAM, DISI World specializes in assessing corporate sustainability. Namely, DISI W

All eyes are on how much taxes the British retailer Tesco Group will pay to the South Korean government after its profit of more than 5 trillion won (US$4.21 billion) with the sale of Homeplus. Industry sources say that the company will not have to pay taxes at all, or will have to pay more than 1 t

The trade union of Hyundai Motor Company announced on Sept. 10 that 77.94 percent of its 48,585 members voted for a strike on the previous day. Therefore the trade union is about to go on a strike for the fourth consecutive year.The 22nd round of negotiations between the union and management broke d

Hankook Tire announced that it finished the wage negotiations for this year on Sept. 8. According to the tentative agreement, the base pay of its manufacturing workers has risen by 5.8 percent, an incentive of 3 million won (US$2,517) will be paid to each of the manufacturing workers upon the conclu

Hyundai Engineering (HEC) announced that it held a quiz contest for its foreign workers at the main office building in Gye-dong, Seoul, on Sept. 4, in a bid to establish the global corporate culture.Divided into the preliminary contest and the finals, the quiz contest made up of a total of 35 multip

MBK Partners signed a contract on Sept. 7 to acquire 100 percent of Tesco’s Homeplus shares for 7.16 trillion won (US$5.94 billion). Immediately after the signing, the private equity fund (PEF) announced that it would invest 1 trillion won (US$829 million) in Homeplus for the following two years, an

SK Group Chairman Chey Tae-won has established the foundation of the group’s major business areas, such as energy, chemicals and information communication technology (ICT), in Hong Kong and Taiwan, the so-called “Greater China region.”After he visited the group's overseas affiliates in China, in

Samsung Electronics hosted Tech Trans Fair 2015 at its Win-win Cooperation Academy in Suwon on Sept. 3 in an effort to help its partner companies secure a competitive advantage in technology.The cooperation event is aimed at helping business partners adopt excellent technology and get technical comp

The CJ Group (Chairman Lee Jae-hyun) has revealed its long-term vision of breaking into the global top 10 tier in the cultural industry. The company also made known its specific blueprint to take the country’s brand value up a notch, especially by successfully commercializing Hallyu.The CJ Group hos

Kim Geun-ho is the director of the International Tourism Division at the Ministry of Culture, Sports and Tourism. Business Korea spoke with him during these days of decreased tourism income to ask about what his division was doing to return to the status growth of tourism growth. His answers provide

Business Korea was able to sit down with Park Young-kuk, the director of the Korean Culture and Information Service, to speak about his organization, programs that they have run, and the idea of publicizing Korean arts and traditions to non-Koreans who already live in the country. What follows are e