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[THE INVESTOR] A Seoul court on Jan. 25 sentenced the head of major food maker Samyang to three years in prison for embezzling 5 billion won (US$44.30 million) of company funds. The Seoul Northern District Court handed down the verdict to Chun In-chang, chairman of Samyang Foods. It also sente...
[THE INVESTOR] Sales of cigarettes in Korea fell 1.5 percent in 2018 from a year earlier due to the government-led anti-smoking campaign and higher prices, data showed on Jan. 25. Smokers purchased 3.47 billion 20-cigarette packs last year, compared with the previous year’s 3.52 billion packs...
[THE INVESTOR] Korea Corporate Governance Improvement, a local private equity firm, has unveiled plans to more actively participate in the management of Hanjin Group. The activist fund, led by former LK Investment Partners head Kang Sung-bu, claimed that the family-owned conglomerate has a weak g...
[THE INVESTOR] Lotte Chemical said on Jan. 17 that its affiliate has acquired a Turkish engineered stone producer for 125 billion won (US$112 million). Lotte Advanced Materials will hold 72.5 percent of Belenco -- established in 2011, is Turkey’s No. 1 engineered stone producer. With the ...
[THE INVESTOR] Korea’s state pension operator said on Jan. 16 that it will decide in February whether to actively exercise its shareholders’ right over Korea Air and its holding firm Hanjin KAL. The fund management committee -- the highest decision-making body of the National Pension Service...
[THE INVESTOR] Troubled Korea National Oil Corp. is poised to sell more overseas assets -- this time, Dana Petroleum -- to cut down on debts and improve its financial health, industry sources said on Jan. 15. State-run KNOC, which has declared 2019 as “the year of emergency management,” is curr...
[THE INVESTOR] Samsung Heavy Industries said on Jan. 10 that it is aiming to clinch US$7.8 billion worth of new orders this year. The figure marks a 24 percent hike from last year’s tally. The shipyard also aims to post US$6.4 billion in sales this year, up 29 percent from last year, it s...
[THE INVESTOR] Korean shipbuilder Hanjin Heavy Industries & Construction said on Jan. 8 that its offshore unit in the Philippines has filed for court receivership. Its wholly owned subsidiary operates Subic Shipyard, 80 kilometers northwest of Manila. The company’s restructuring will be author...
[THE INVESTOR] SK Innovation said on Dec. 30 it will showcase a key part of flexible displays at the CES 2019 slated for next month in the United States. The company said it will introduce its flexible cover window, which is utilized in flexible displays. SK Innovation has been making various ...
[THE INVESTOR] Samsung Group and four other major conglomerates have completely ended their circular cross-shareholding structures, Korea’s antitrust watchdog said on Dec. 28. The four other big business groups are retail giant Lotte, Hyundai Heavy Industries Group, Daelim Group and Hyundai D...
[THE INVESTOR] Asiana Airlines said on Dec. 26 its stake in its affiliate Air Busan will stand at 44.17 percent after the budget carrier’s planned stock market debut, nearly unchanged from the current level. As the largest shareholder it currently holds a 46 percent stake in Air Busan, which ...
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