The inauguration ofthe LG Group's fourth-generation owner system is just one month away. In the Korean business world, there is a growing interest in the big picture the LG Group will create following the death of the late chairman Koo Bon-moo.The attention is focused on Koo Kwang-mo, an executi

LG Group chairman Koo Bon-moo passed away at the Seoul National University Hospital at 9:52 a.m., May 20. He led the group for 23 years as the third chairman of the group following founder and his grandfather Koo In-hoe and his father Koo Ja-kyung. The cause of his death is a brain tumor.The Korean

LG Group chairman Koo Bon-moo is hospitalized at Seoul National University Hospital and his family members and close relatives are making visits, signaling that he is in a critical condition. His brother Koo Bon-neung, chairman of Heesung Group, and his daughter-in-law are reported to have stayed at

With South Korean companies, including Hyundai Motor Group, facing more management intervention from foreign activist hedge funds in the process of pushing for governance reform, listed firms are raising their voices to call for measures to protect their management rights.The Korea Listed Companies

Three months have passed since the arrest and imprisonment of Shin Dong-bin, chairman of the Lotte Group on Feb. 14. The long absence of the chairman is beginning to hurt the group’s overseas businesses which amount to 10 trillion won. Lotte Group will hold a strategy workshop on expanding its globa

Samsung Group’s dilemma is deepening as the South Korean government’s pressure for governance reform is intensifying.The group needs to soft-land the succession of vice chairman Lee Jae-yong and address its complex governance structure as soon as possible. The government and the financial industry t

Prosecutors are moving to expand their investigation into the tax evasion allegations against a dozen or so members of the LG Group owner family.Investigators raided LG Corp.’s headquarters in Seoul on Wednesday to gather evidence of the suspicions that the group was involved in the alleged tax evas

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