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

Korea Midland Power (KOMIPO) announced on March 6 that the company acquired “Excellence,” the highest rating in the evaluation of public organizations in terms of win-win growth activities in 2017 by the Ministry of SMEs and Startups.KOMIPO has achieved the highest grade for three consecutive years

Samsung Electronics Co. invested more than 16.8 trillion won (US$15.53 billion) in research and development (R&D) in 2017. The company’s cashable assets still remain at the 30 trillion won (US$27.74 billion) level but the figure has decreased about 1.5 trillion won (US$1.39 billion) compared to a ye

KEPCO KPS, a total power plant service provider, has acquired ISO 27001 certification from the British Standards Institution (BSI) headquartered in London. ISO 27001 is the international best practice standard for an information security management system.KEPCO KPS held an ISO 27001 certification aw

Samsung C&T has decided to bring in a French executive who served as a top-level executive at General Electric as a new outside director. Analysis says that the move signaled the full-scale start of an improvement in corporate governance and management led by boards of directors. Earlier, Samsung El

According to investment banking (IB) industry sources on Feb. 27, foreign shareholders at KB Financial Group officially expressed their negative views on the introduction of a labor union board member recommendation system.A senior official from KB Financial said, “Some foreign shareholders strongly

South Korea’s fifth-largest conglomerate Lotte Group has completely removed its cross-shareholding ties amid the unprecedented absence of chairman, passing the first step for an emergency management system. However, the group has mounting challenges as it recently faced suspicion that it sought favo

On February 28, Samsung Group will mark the one year anniversary of declaring its “virtual dismantlement” for self-regulatory management by affiliates.Although there is concern that the Samsung Group will be put into a quagmire as its chairman was put behind bars and the Future Strategy Office, the

Samsung SDI Co., a battery making unit of South Korea’s largest conglomerate Samsung Group, will have to dispose 4.04 million shares in its affiliate Samsung C&T Corp. within six months in connection with a controversial merger between Samsung C&T and Cheil Industries. Accordingly, Samsung Group’s c

A 5G demonstration by KT received rave reviews and much attention from the world ICT industry and at the same time, a KT subsidiary was raided by the police over an allegation that KT gave illegal political funds.KT Corp is experiencing both positive and negative things at the same time upon the end

Samsung Electronics is paying a lot of attention to beefing up global communications. The company appointed a senior official from the Ministry of Strategy and Finance as an officer in charge of overseas PR after making foreign language qualifications obligatory in executive promotion reviews.Consid

POSCO ICT Co. and Kangrim Insulation Co. are prohibited from launching bids due to exceeding cumulative subcontracting law penalty points. According to the Fair Trade Commission (FTC) on Feb. 25, the two companies recorded a 6 cumulative point each after violating the subcontracting law in the past

North Gyeongsang Province has decided to move forward with the Export Marketing Strategy for 2018 International Trade Expansion after setting US$50 billion in exports and US$35 billion in trade surplus as the target of this year. In addition, this year, the province will implement a total of 24 expo

Lotte Group Chairman Shin Dong-bin has stepped down as chief executive officer (CEO) at Japan-based holding firm Lotte Holdings. Accordingly, cooperation between South Korean and Japanese Lotte units as part of “One Lotte” strategy led by Shin is expected to weaken for a while.According to Lotte Gro

The arrest of Shin Dong-bin, chairman of Lotte Group, is unleashing a strong firestorm. Lotte Holdings Japan whose largest shareholder is Kwang Yoon Sa (Koiyunsya) at the top of the corporate governance structure of Lotte Korea and Lotte Japan is expressing concern about the arrest of chairman Shin

A Seoul court jailed Lotte Group Chairman Shin Dong-bin for bribery. Ushering into the New Year, Lotte Group declared the first year of “New Lotte Vision Implementation.” However, the group got stuck with the Choi Soon-sil Gate that toppled South Korea’s former president. The future of Lotte Group w

The Incheon Port Authority (IPA) said that the authority was smoothly making preparations for the development of Phase 1-2 of Incheon Port and the development of Phase 3 of New Passenger Wharf at Incheon Port in order to upgrade Incheon Port to an international logistics hub port in areas surroundin

English-language news articles of BusinessKorea will be available soon on Naver in addition to Google and Kakao. BusinessKorea is also planning to provide Korean-language articles to those portals starting from March.The Committee for Evaluation of News Partnership announced on February 12 that Busi

CBRE Korea, a global commercial real estate services company, announced today it is providing property management services for FKI Tower in Yeouido. As the first global real estate specialist to manage FKI Tower, CBRE Korea expects to improve the property’s profitability and asset value.FKI Tower is

The Hyosung Group will significantly expand investment in the chemical and heavy industry sectors in Vietnam. Hyosung Group chairman Cho Hyun-jun is planning to tap into the world market with Vietnam as a global complex production base.According to the Hyosung Group on February 11, chairman Cho said