Lotte Group chairman Shin Dong-bin was released from jail on October 5 eight months after his arrestment. He is going to return to work right away.The group announced on October 7 that Shin will resume his work at his office in the Lotte World Tower on October 8. Shin will receive briefings from gro
Samsung Group, which has completely removed the cross-shareholding links among its affiliates, is considering when to cancel the 20 trillion won (US$18 billion) worth of treasury shares held by Samsung Electronics.This is part of the group's efforts to strengthen its shareholder friendly policy
The National Policy Committee of the National Assembly of South Korea passed a bill on direct bank establishment and management on September 19. The bill is expected to be passed at a plenary session scheduled for September 20, and then President Moon Jae-in’s request for financial innovation based
South Korea's top 30 companies are reluctant to reinvest money earned and keep it in reserve due to tightening business regulations and deepening global economic uncertainly. As a result, their combined cashable assets jumped nearly 10 trillion won (US$8.93 billion) in the past year, while their
The amount of smartphones LG U+ Corp. purchases from LG Electronics Inc. has been cut by half over the past four years. LG U+ has shown a notable movement away from LG Electronics as a result of its profit maximization strategy and the poor performance of LG Electronics in the smartphone business. A
The bill on banking-commerce separation deregulation and establishment of direct banks has failed to pass the National Assembly despite President Moon Jae-in’s instruction.As a result, the launching of the third direct bank in South Korea within this year, a goal pushed by the local financial author
The ruling and opposition parties failed to reach an agreement on a special bill on direct (Internet-only) banks, which involves the easing of the banking-commerce separation. As a result, the bill is unlikely to be passed in the plenary session of the National Assembly on Aug. 30.When it comes to i
With the National Assembly scheduled to consider a special law on internet-only banks to ease the separation of banking and commerce, South Korea’s financial regulator is pushing for a new revision bill that exceptionally allows information and communication technology (ICT) companies to become a ma
As the ruling and opposition parties agreed to pass a bill on internet-only banks this month, foreign information technology (IT) giants have emerged as a new variable in easing the separation of banking and commerce.Some experts say that Korea may end up allowing foreign IT companies like Amazon an
A large research project has kicked off to develop a next generation secondary battery which will be applied to eco-friendly electric vehicles.The project aims to effectively increase the ability and efficacy of the current lithium-ion battery, which is expected to be used as a main technology for t
As President Moon Jae-in called for measures to ease the separation of banking and commerce on August 7, financial reform led by Financial Services Commission (FSC) Chairman Choi Jong-ku is expected to gain traction. Choi expects that Internet-only banks will bring about fintech innovations and cont
Financial Services Commission (FSC) Chairman Choi Jong-ku stressed the need to ease banking-commerce separation on July 11.“South Korea adopted banking-commerce separation back in 1982 in the process of privatizing the previously state-owned banks. It was intended to prevent chaebol from using banks
Concerns are growing over the planned adoption of a stewardship code by the National Pension Service (NPS). In particular, critics say that the government is rushing to introduce the stewardship code, though the current laws have ambiguities regarding what kind of shareholder activities constitute i
The nation's two Internet banks, K-bank and Kakao Bank, were initially supposed to play the role of a "catfish" that stimulates innovation in the domestic financial industry. But they have ended up becoming a "minnow" whose presence is hardly recognizable.The main reason for this degradation is
As POSCO Chemtech president Choi Jeong-woo was tapped as new chairman of POSCO, the nation’s largest steel manufacturer is expected to step up its efforts to implement the 100-Year-Old Enterprise project.The project calls for shifting the steel giant's strategic focus from steel production and s
As Elliott Management has been reported to have urged the Hyundai Motor Group to establish a holding company through a merger between Hyundai Motor Company and Hyundai Mobis, much attention is being paid to what will be the activist hedge fund’s next move.According to industry sources, the Hyundai M
Samsung Advanced Institute of Technology (SAIT) announced on March 25 that it has carried out a joint study with a research team led by Yoo Young-min of the Department of Advanced Materials Engineering at Ewha Womans University and has become the first that proved the mechanism of deterioration that
Kim Sang-hoon, a research fellow at the Korea Federation of SMEs, proposed building a second Gaesong Industrial Complex in and around Rajin that can grow into a next-generation center of Northeast Asia and a key place to advance into the Pacific and launch a combined logistics and export-type assemb
Hyundai Mobis began to roll out a state-of-the-art braking and parking system of its own development on a full scale after completing its mass-production system.On February 6, Hyundai Mobis announced that the company was ready for mass production of the Remote Smart Parking Assist (RSPA) and the nex
Kumho Tire being restructured under a voluntary agreement system with its creditors was separated from the Kumho Asiana Group.On December 28, Kumho Tire announced that the company became independent from the Kumho Asiana Group pursuant to Article 14-2 of the Monopoly Regulation and Fair Trade Act.Th