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

SK Holdings Co., the parent company of South Korea's third-largest conglomerate SK Group, has raised the rate of shareholders' general meeting participation by adopting an electronic voting system for the first time in the industry.The company said its stockholders’ voting rights exercise rates at t

Mirae Asset Daewoo Chairman Park Hyun-joo has decided to focus on global management. When Park took office as chairman of Mirae Asset Daewoo in May 2016, he showed a strong will for overseas business after two years of management.Mirae Asset Daewoo announced on March 26 that Park has become the chai

Lee Jae-yong, vice chairman of Samsung Electronics, embarked on a business trip to Europe. Last month, he was released in a review by an appellate court for a probation, and then chose an overseas business trip as his first official move after his release.Samsung Electronics said on March 25, "Vice

SK Innovation Co. has made an investment in its subsidiary in the U.S. to invest in the shale oil and gas industry in the country.The company officially announced on March 20 that it has decided to invest 485.3 billion won (US$453.55 million) in SK E&P America Inc., a wholly owned subsidiary that de

According to relevant industry and real estate investment baking industry sources on March 14, Kumho Asiana Group signed a memorandum of understanding (MOU) with Deutsche Asset & Wealth Management, a Germany-based global asset management company, to sell its Gwanghwamun office building in 115 Sinmun

The 2018 Lotte World Tower International Vertical Marathon 'SKY RUN' will be held on May 13. A total of 1,500 people will run. Excluding professional athletes and corporate participants, the participants will total 1,400.The Lotte World Tower Scarlet is an official event recognized by the Vertical W

Columbia University MBA students and faculty members visited the Dream Plus Gangnam, a start-up training center established by Hanwha Life Insurance on March 13.This visit was made possible as Columbia Business School, which selected Hanhwa Life's Dream Plus Gangnam as an example of Korea's open inn

Doosan Heavy Industries & Construction Co., the nation’s top power equipment maker, announced on March 13 that it has signed an agreement with a consortium consisting of two Korean private equity funds – Socius Advisors and Well to Sea Investment – to sell its entire stake of 42.66 percent in Doosan

According to the Ministry of Environment (MOE) on March 12, polyhexamethylene guanidine (PHMG) was found in deodorant sprays manufactured by PIGEON Corporation.The Elegant Mimosa and the Romantic Rose contain 0.00699 percent and 0.009 percent of PHMG respectively. PHMG can cause toxicity in the nasa

Kim Gwan-yong, Governor of Gyeongsangbukdo (North Gyeongsang Province), set a record as he was elected as head of a local government for the sixth time through a popular vote. Kim served as head of a local government for 24 years as he was elected as Gumi mayor three times and as governor of Gyeongs

It has been found that the total market cap of the LG Group, which has 11 listed subsidiaries, fell 5.53% from 103.38 trillion won (US$93.0 billion) to 97.65 trillion won (US$87.9 billion) between the end of last year and March 6 this year. The group showed the highest rate of decrease among the 10

Samsung Group’s financial affiliates, such as Samsung Life Insurance Co. and Samsung Fire & Marine Insurance Co., are planning to sell their stakes in Samsung Electronics Co. that exceed 10 percent by the end of this year. Samsung Electronics has been purchasing and cancelling its treasury shares fr

At the first press conference held at the Ministry of Strategy and Finance in the Government Complex Sejong on March 6 after the inauguration, Cho Yong-man, president of the Korea Minting, Security Printing & ID Card Operating Corp. (KOMSCO), said, “We are planning to launch the KOMSCO Trusted Platf