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[INTERVIEW] China big on blockchain technology: Eric Gu
South Korea and China are front-runners when it comes to cracking down on cryptocurrency trade, but according to Chinese blockchain expert Eric Gu, the world’s second-largest economy is actually a big supporter of blockchain technology. “The Chinese government is very supportive as long as you don’t touch on crypto...
Ex-Daewoo Group chief Kim Woo-choong dies at 82
Former Daewoo Group Chairman Kim Woo-choong, once touted as one of the most successful businessmen in South Korea, died late Dec. 9 at age 82, an organization affiliated with the now-defunct conglomerate said. Kim, the founder of the trading-to-automobile conglomerate, died of a chronic disease at a local hospital, according to Daewoosky Institute, which represents former employees of Daewoo Group. He launched Daewoo in March 1967 to export textiles to Southeast Asian markets, and the trading co
Most expensive house owned by Shinsegae chief: data
[THE INVESTOR] Of the houses evaluated so far this year by the Ministry of Land, Infrastructure and Transport as sample standards, the most expensive unit is currently a 16.9 billion won (US$15.8 million) residence owned by Shinsegae Group Chairperson Lee Myung-hee, market data showed on Jan. 23.The house, with a gross area of 2,861.83 square meters and a lot area of 1,758.9 square meters, is located in Seoul’s central area of Hannam-dong, Yongsan-gu, where a number of top-tier business leaders
SK chief meets business leaders at Davos
[THE INVESTOR] SK Group Chairman Chey Tae-won is meeting with business leaders and government representatives around the world at the annual economic forum in Davos, Switzerland, the group said on Jan. 24.The chairman is set for a series of meetings with government officials from China, Vietnam and Saudi Arabia to strengthen cooperation over the group’s petrochemical business and business leaders in the energy, chemicals and information and communications technology sectors. SK Group chairman Ch
Celltrion Chairman becomes 4th-richest man in stock holdings
[THE INVESTOR] The head of a biotech venture firm has emerged as the fourth-richest man in stock holdings in Korea, industry data showed on Jan. 7.The value of stocks held by Seo Jung-jin, chairman of biopharmaceutical firm Celltrion Inc., rose to 5.39 trillion won (US$5.06 billion) as of Jan 5, according to market researcher Chaebol.com. Celltrion Chairman Seo Jung-jinSamsung Electronics Chairman Lee Kun-hee topped the list with 18.7 trillion won, followed by Lee Jae-yong, Lee’s only son and Sa
Hyundai promotes ex-BMW engineer to president
[THE INVESTOR] Hyundai Motor Group promoted Albert Biermann, vice president of the carmaker’s performance development division, to a president post, recognizing his role in enhancing the driving dynamics of its luxury brand Genesis on par with other premium carmakers, the company said on Jan. 5. Biermann is the second foreign expert named president, after the South Korean carmaker appointed Peter Schreyer, former Audi designer, as the president of Hyundai-Kia design team. Albert BiermannBierm
Nexon Korea to tap Lee Jung-hun as new CEO
[THE INVESTOR] South Korean video game giant Nexon Korea said on Jan. 5 that it has tapped Lee Jung-hun, its Vice President of Business, to lead the company as its new CEO. Lee is slated to assume his new position this month, following board approval and related procedures. He will replace the outgoing CEO Park Ji-won, who will oversee Nexon’s global operations as its new Chief Operating Officer. Lee Jung-hunLee Jung-hun joined Nexon Korea in 2003, and worked as a leader of the firm’s Neople an
Pulmuone founder steps down in favor of professional CEO
[THE INVESTOR] The founder of Korea’s leading food firm Pulmuone announced on Jan. 2 that he is stepping down to make way for a “professional CEO” in order to better manage the company.“Owner management can be better than professional management for unlisted companies, but listed firms should be led by professional managers,” founder Nam Seung-woo, who headed the company over the last 33 years, said in a statement. Pulmuone founder Nam Seung-wooHe will be replaced by Lee Hyo-yul, who has been wi
Take me, not them: Samsung heir Lee Jae-yong
[THE INVESTOR] On Dec.27, the prosecution upheld its original 12-year sentence for Samsung Vice Chairman Lee Jae-yong on appeal after a lower court sentenced him to five years for bribing former President Park Geun-hye. The Seoul Supreme Court is expected to give its final ruling in February. The following is Lee's full statement. - Editor Your honor, I sincerely thank all those who are taking part in this trial. I will start by saying I am the biggest debtor when it comes to Korea. I had the