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

The Korea Midland Power Co. (KOMIPO) recently announced that it achieved 10 billion won (US$9.13 million) worth of exports in January 2018 through “K-Jang Bogo Project” that has been promoted from February last year.The KOMIPO has carried out the K-Jang Bogo Project, which is specialized in accompan

According to industry sources on February 8, Samsung Electronics is planning to hold a general meeting of shareholders on March 23 to appoint new directors, including at least one non-executive and four executive. A former foreign company CEO is expected to be appointed as a non-executive director a

As Lee Jae-yong, vice chairman of Samsung Electronics Co., has been released from prison on probation, Samsung Group’s financial affiliates, such as Samsung Life Insurance and Samsung Fire & Marine Insurance, are accelerating the search for their new CEOs.According to investment banking (IB) industr

Police raided KT Corp. with a search warrant on February 5 for its illegal political funding allegations. The KT Labor Union and civic organizations are putting pressure on KT Chairman Hwang Chang-kyu to resign.According to the police, KT set up a slush fund by buying gift cards with its credit card

SK Group’s proportion of exports in its total sales reached a record high last year. According to SK Group on Feb. 4, its subsidiaries posted combined sales of 139 trillion won (US$127.93 billion) in 2017. Overseas sales reached 75.4 trillion won (US$69.4 billion), accounting for 54.2 percent of the

Mirae Asset Financial Group and CHA Medical Group will go for an initial public offering (IPO) of a new holding company after the acquisition of a medical corporation in Singapore. They aim to create a global medical chain by establishing a holding company, which has a medical corporation in the Uni

CHA Medical Group (CMG) has become the first South Korean medical center entering the Australian market by acquiring a stake in CFC Global, the country's fourth-largest in-vitro fertilisation (IVF) specialist.The group announced on Jan. 31 that CHA Healthcare Co., a subsidiary of CHA Biotech Co. lis

On January 31, Samsung Electronics held a Board of Directors meeting and announced a plan to increase shareholder value with the measure of a stock split.First of all, the Board of Directors of Samsung Electronics resolved to implement a 50:1 stock split as one of its measures to raise shareholder v

Business Korea sat down to speak with Darren Krakowiak, managing director and country representative of CBRE Korea to ask him about the commercial real estate market in the country. Drawing on his 8 years of experience in the commercial real estate market in Seoul, Darren spoke at length about the c

Since 1619, Dulwich College in South London has been developing its reputation for educating British children. And for the last 15 years, Dulwich College International has been exporting that education to Asian cities like Shanghai, Beijing, Singapore, and, since 2010, Seoul.With 650 students nestle

LS Industrial Systems made the list of the top global 100 innovative companies along with Samsung Electronics and LG Electronics for seven years running.Clarivate Analytics, a world-class academic information service provider, announced 2017 Top 100 Global Innovators, saying, “LG Electronics, LS Ind

AmorePacific held a ceremony for the "Make-up Artist Goes" Scholarship-Awarding Ceremony at the headquarters of the AmorePacific Group in Seoul on January 23.‘Make-up Artist Goes' is a social contribution activity by employees of AmorePacific through which AmorePacific make-up and hair artists visit

Samsung SDI Co. announced on January 23 that it achieved sales of 1.85 trillion won (US$1.73 billion) and operating profits of 118.6 billion won (US$110.64 million) in the fourth quarter in 2017. Accordingly, the company posted 6.32 trillion won (US$5.9 billion) in annual revenues and 116.9 billion