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[ THE INVESTOR ] Listed firms of the nation’s top 10 conglomerates are stingy in charity although their profits increased, industry data showed on July 17. According to the data by market researcher Chaebul.com, listed firms of the conglomerates donated 963.2 billion won (US$847.8 million) last...
[ THE INVESTOR ] Pharmaceutical giant ChongKunDang Chairman Rhee Jang-han is facing flak for verbally abusing employees after an audio recording showing him berating a driver was made public on July 13. “I don’t understand how an idiot like you was been hired. I don’t know what your father ...
[ THE INVESTOR ] Amid the strong rally of tech giant Samsung Electronics ’ stock this year, Vice Chairman Lee Jae-yong has become Korea’s second wealthiest business person after his bedridden father Kun-hee, according to Chaebul.com on July 14. The value of stocks held by Samsung Group’s ow...
[THE INVESTOR] Hyundai Mobis, South Korea’s biggest auto parts supplier, hired Gregory Baratoff, head of camera sensor development at Continental, as the vice president of the company’s driving assistant system development earlier this month to step up its competitiveness in autonomous driving, t...
[THE INVESTOR ] Medytox CEO Jung Hyun-ho is slated to meet with executives at Allergan to discuss the start of phase 3 clinical trials of its liquid-type botulinum toxin Innotox this week, according to local news reports on July 11. Medytox and Allergan struck a license partnership in 2013, whe...
[ THE INVESTOR ] Samsung Electronics has named new chiefs for North America and Europe, according to news reports on July 11. The tech giant carried out a small-scale executive reshuffle on July 1 to appoint Kim Moon-soo, the former marketing chief of its visual display business, as the Europe...
[ THE INVESTOR ] Samsung Electronics Vice Chairman Lee Jae-yong, who has been jailed for his role in the presidential scandal, will skip this week’s Allen & Company Sun Valley Conference, an annual gathering of top media and tech leaders that he has attended since 2011. Only select entreprene...
[THE INVESTOR] Lotte Chairman Shin Dong-bin hosted an IR session for major Japanese financial institutional investors in Tokyo, the Korean retail giant stated on July 11. The group of more than 60 investors he addressed included Nomura Securities, Mizuho Bank and Sumitomo Mitsui Banking Corp. ...
[ THE INVESTOR ] Korea’s top 15 conglomerates said on July 11 that they will voluntarily overhaul unfair practices, a local business lobby said. In a meeting with Lee Dong-geun, vice chairman of the Korea Chamber of Commerce and Industry, 15 business leaders agreed with general calls that compa...
[ THE INVESTOR ] Fuji Xerox Korea said on July 10 that it appointed Miyamoto Toru, who led global production sales at its headquarters, as its new chairman. Toru served as an executive of Fuji Xerox’s global production sales business division since 2012 before joining the Korean arm of the comp...
[THE INVESTOR] Lotte Group Chairman Shin Dong-bin will move both his office and residence to Lotte World Tower, according to news reports on July 9. His office will be relocated on the 18th floor of the 123-story building from the group headquarters in central Seoul around July 20, according to...
[THE INVESTOR] MP Group Chairman Jung Woo-hyun who owns the Mr. Pizza franchise in Korea stepped down on June 26 after his high-handed management style was seen to have led to the suicide of a former franchisee owner in May. Jung, 69, is accused of obstructing business by purposely opening new st...
[THE INVESTOR] Sungjoo Group founder Kim Sung-joo has resigned as CEO of accessories brand MCM, according to news reports on June 26. Kim quit the position to focus on MCM’s further expansion in overseas market, said the company, but industry watchers speculate the decision may be related to an ...
[THE INVESTOR] Citibank Korea’s consumer banking head Brendan Carney who has been leading its plans to shut down 80 percent local branches will extend his tenure possibly for another one year, according to industry sources on June 26. His tenure is scheduled to expire on June 30 but Citibank’s A...
[ THE INVESTOR ] Korea’s six conglomerates are still relying heavily on cross-shareholding to strengthen their owner families’ control over the affiliates, a report by chaebol business tracker showed on June 26. The combined assets of the 1,259 affiliates under the top 30 business groups reach...
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