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[THE INVESTOR] Korean household products manufacturer Lock&Lock on Dec. 4 named Ghim Sung-hoon, a former Samsung strategist, as its new CEO -- the first leadership reshuffle since the firm was acquired by Hong Kong-based private equity firm Affinity Equity Partners in August. Ghim served diverse ...
[ THE INVESTOR ] The Fair Trade Commission confirmed that it has decided to submit a proposal to the prosecution to investigate allegations filed against Hyosung Group CEO and former Chairman Cho Suck-rai and his eldest son, Chairman Cho Hyun-joon, over alleged misappropriation of funds. The com...
[THE INVESTOR] LG Electronics replaced the head of its mobile business division in a reshuffle on Nov. 30 apparently due to the falling sales of its flagship smartphones. The Korean tech giant tapped Hwang Jeong-hwan as the mobile chief, while his predecessor Cho Jun-ho, who had led the strugg...
[ THE INVESTOR ] The National Tax Service has begun reviewing the Samsung chief’s assets allegedly withdrawn from accounts opened under borrowed names, after the Finance Ministry said the accounts are subject to taxation regardless of the timeline, officials said on Nov. 29. The Finance Ministr...
[THE INVESTOR] The chief of Kumho Asiana Group, an airline-to-construction conglomerate, said on Nov. 28 he won’t buy back the conglomerate’s former tire unit Kumho Tire now controlled by creditor banks. In a press conference held at its headquarters in Seoul, Kumho Asiana Chairman Park Sam-...
[THE INVESTOR] Chey Min-jeong, second daughter of SK Group Chairman Chey Tae-won, is expected to be discharged from the Korea Navy this week, according to news reports on Nov. 27. The heiress is currently serving as commanding officer of the Korea Navy’s 3nd Fleet Headquarters, which is responsi...
[THE INVESTOR] Jo Seong-jin, vice chairman and CEO of LG Electronics pledged to expand the company’s efforts to automate production facilities and to consequently enhance manufacturing competitiveness in the global market, according to officials on Nov. 26. “Capabilities at the production li...
[ THE INVESTOR ] CJ Group reshuffled its top executives on Nov. 24, including the top desks at food company CJ CheilJedang and CJ Corporation, in its first board shuffle since group chairman Lee Jay-hyun returned to management this May. Shin Hyun-jae, 56, who spent time at CJ O Shopping as well ...
[ THE INVESTOR ] Financial authorities started to investigate financial companies in relation to the accounts under borrowed names allegedly belonging to Samsung Chairman Lee Kun-hee, an issue raised during the parliamentary audit last month. The Financial Supervisory Service on Friday said that...
[THE INVESTOR] Kellogg’s Korea CEO Han Jong-kap will oversee the firm’s operations in Hong Kong and Taiwan from January, according to a local news report on Nov. 23. The Korean unit of the global cereal producer has registered 10 percent annual sales growth during the last three years, which is...
[THE INVESTOR] Samsung Electronics’ Silicon Valley office is expected to play a bigger role, possibly replacing its now defunct control tower office that used to oversee strategic decisions across affiliates, according to industry sources on Nov. 23. In a recent reshuffle, the tech giant said US...
[ THE INVESTOR ] Prosecutors on Nov. 22 launched an investigation into allegations that Kim Dong-seon, the youngest son of Hanwha Group Chairman Kim Seung-yeon, assaulted and harassed attorneys of prominent law firm Kim & Chang at a gathering in Seoul in September. According to the Seoul Metropo...
[THE INVESTOR] Caffe Bene founder Kim Sun-kwon’s Hyundai IPark apartment in Seoul’s affluent Gangnam district, is up for auction, according to local news reports on Nov. 21. A Seoul court ordered the auction on Nov. 20 and is currently finalizing a date, said a source at Ggi Auction that specia...
[ THE INVESTOR ] The Lee family behind the Samsung empire was ranked second on Forbes’ list of Asia’s wealthiest families, losing the top spot to the Ambanis, the family which controls the Indian conglomerate Reliance Industries. According to the annual report by the US magazine, the South Kor...
[THE INVESTOR] The family that owns Korea’s No. 1 conglomerate Samsung Group fell a notch in the list of Asia’s richest families, data showed on Nov. 20. According to the list compiled by Forbes, the Lee family held assets estimated at US$40.8 billion this year, which puts them below India’...
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