Korea Fair Trade Commission chief Kim Sang-jo again urged Samsung Group vice chairman Lee Jae-yong to make a decision regarding Samsung Life Insurance's stake in Samsung Electronics.At a meeting of top CEOs on May 10, Kim said, “Samsung’s current governance structure based on Samsung Life Insura

Ahead of the consolidated supervision guideline for financial groups that takes effect in July, Mirae Asset Group is grappling with its governance structure. This is because financial authorities are taking aim at Mirae Asset Group and Samsung Group over the governance structure problem before imple

Financial authorities are stepping up pressure on Samsung Life to sell off its stake in Samsung Electronics.Choi Jong-koo, head of the Financial Services Commission (FSC) emphasized in a luncheon meeting with reporters in Seoul on May 9 that Samsung Life Insurance does not have a deadline to submit

A local job portal unveiled that more than 70% of executives at the 30 largest South Korean companies are in their 50s and older.Job search portal JobKorea analyzed the 30 private and state-run companies’ business reports for last year on May 9 and said that the average age of their 3,463 executives

The Financial Supervisory Service (FSS) has provisionally determined that fraudulent accounting occurred in Samsung BioLogics. Although the final result of its one-year investigation is yet to come, a severe punishment seems to be inevitable. The FSS has delivered the tentative outcome of its inspec

Samsung Group is expected to accelerate corporate governance reform as its vice chairman Lee Jae-yong has officially been designated as the head of the group by the Korea Fair Trade Commission (KFTC).The designation followed the recent move by the Financial Services Commission (FSC) to put pressure

SK Innovation will accelerate shareholder-friendly management by purchasing treasury stocks worth one trillion won. This marked the first time that SK Innovation bought large volume of treasury stocks since its inception. The purchase is interpreted as a strong will to achieve its goal to reach the

Shin Dong-joo, former vice chairman of Lotte Holdings who was virtually defeated in a management right dispute with his younger brother Shin Dong-bin, chairman of the Lotte Group, is attempting to recover his management right once again.Shin Dong-joo has recently submitted a shareholder proposal dem

The Korean political community and economic ministries are raising their voices to better protect managerial rights of Korean corporations as US activist hedge fund Elliott Management attempts to intervene in the management of the Hyundai Motor Group by demanding the adoption of cumulative voting. L

Korean conglomerates’ cross shareholding practice, which has been used by chaebol owners as a means of securing control over subsidiaries with a tiny stake in them, is likely to disappear in the near future.The Korea Fair Trade Commission (KFTC) announced on April 24 that, among the 57 South Korean

South Korea’s leading mobile carrier SK Telecom Co. successfully raised US$500 million (532 billion won) in five-year global bonds. It was the highest amount for foreign currency corporate bonds issued by Korean companies considering the volume of orders by foreign organizations. The company announc

LS Cable & System announced on April 10 that it would set up new optical cable manufacturing facilities in LS EV Poland by investing 11 million euros. The new facilities to be housed in the factory located in the southwestern region of the country are likely to be the first optical cable manufacturi

U.S.-based activist hedge fund Elliot Management is in the spotlight again as it has declared war against Hyundai Motor Group, which recently announced a plan to revamp its corporate governance structure.Elliott Advisors, a unit of Elliot Management, sent shock waves through the Korean stock market

The major subsidiaries of South Korea’s top four business groups, such as Samsung Electronics Co., LG Electronics Inc. and SK Hynix Inc., saw their operating profits surge more than 80 percent but invested only 10 percent of them on research and development. Accordingly, some point out that they are

The Financial Services Commission (FSC) has disclosed a draft of its plan to reduce cross shareholding among financial companies affiliated with seven financial groups, including Samsung, Hyundai Motor, Hanwha and Lotte.The seven financial groups have a total of 97 financial subsidiaries whose asset

Kwon Oh-hyun, former vice chairman of Samsung Electronics and currently chairman of Samsung Advanced Institute of Technology, ranked as South Korea's highest annual salary earner again last year.According to a business report by Samsung Electronics on April 2, Kwon took home 24.38 billion won (US$23

Financial authorities are carrying out a special audit for Samsung Biologics Co. on accounting fraud allegation while opening the possibility of innocence. A senior official from the financial authorities said on March 1, “Since we haven’t finished the special audit for Samsung BioLogics, nothing ha

Samsung Electronics Co. is expected to post more than 14.6 trillion won (US$13.73 billion) in the first quarter of this year. The figure is slightly lower than 15.15 trillion won (US$14.25 billion) in the fourth quarter of last year but nearly 50 percent higher than 9.9 trillion won (US$9.31 billion

During a press conference on April 1, Kwon Oh-jun, chairman of POSCO Co. which celebrates its 50th anniversary this year, stressed that POSCO needs new business other than steel in order to leap toward greater 50 years ahead. He said, “We cannot last 100 years with steel business alone. We should ma

Hyundai Motor Group announced plans on March 28 to streamline its overall governance structure by resolving the cross-shareholding ties between four major subsidiaries – Hyundai Mobis Co., Hyundai Motor Co., Kia Motors Corp. and Hyundai Steel Co.Large shareholders, including Hyundai Motor Group Chai