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Samsung Electronics’ two top executives called on employees Thursday to stay focused on the company’s long-term competitiveness, as a planned union strike loomed amid stalled wage talks over performance-based pay. Jun Young-hyun, vice chairman and head of the device solutions division, which oversees the company's semiconductor business, and Roh Tae-moon, president and head of the device experience (DX) division, said in an internal message to employees that management would act responsibly to h
South Korean and Chinese business leaders discussed ways to strengthen cooperation in strategic industries such as artificial intelligence, semiconductors and batteries at a forum in Shanghai on Thursday. The Korea Enterprises Federation said it jointly hosted the third Korea-China Business Leaders Meeting with the China International Council for the Promotion of Multinational Corporations, attended by around 50 business executives and government officials from both countries. Among the attendee
The owner family of Samsung Group has completed the payment of 12 trillion won ($8 billion) in inheritance taxes over five years, marking the largest such settlement in South Korea’s history while further tightening its control over the conglomerate. The family’s wealth has more than doubled amid an AI-driven semiconductor rally, allowing it to meet the tax burden without large-scale disposals of core holdings. The conglomerate confirmed the final payment Sunday, noting the sum is equivalent to
The World Bank Group has appointed a South Korean banking veteran as its director of market and counterparty risk, the Finance Ministry said Sunday. Min Jee-nah, 52, head of credit for state-owned enterprises and reinsurance at the Multilateral Investment Guarantee Agency, an affiliate of the World Bank Group, will assume the role starting June 1. Min will be responsible for managing market risk related to the World Bank Group’s assets and overseeing counterparty risk associated with its investm
South Korea’s antitrust regulator has designated Kim Bom-suk, known globally as Bom Kim, as the controlling figure of Coupang, a move that significantly expands regulatory oversight of the US-listed firm and its founder’s family. The decision replaces Coupang Inc. with Kim as the group’s “same person” — a legal term under Korean antitrust law that identifies the effective controller of a business group and serves as the basis for monitoring related-party transactions and potential self-dealing.
Philip Morris Korea said Wednesday it has appointed Lee Hong-suk as its new managing director, effective May 1. Lee, currently head of smoke-free products, brings more than two decades of experience across global markets within Philip Morris International. Since joining the company in 1999, he has held key commercial and strategic roles. He has built extensive international experience in markets including Singapore and Hong Kong, and served as general manager of Philip Morris Taiwan in 2018, whe
Madison Huang, senior director of product marketing at Nvidia, visited Doosan Robotics on Wednesday, as the South Korean company and US tech giant step up their partnership to build a robot execution platform and commercialize industrial humanoid robots by 2028. Doosan Robotics said Huang — the eldest daughter of Nvidia cofounder and CEO Jensen Huang — toured the company's innovation center in Seongnam, Gyeonggi Province, where she met with CEO Kim Min-pyo. The discussions focused on integrating
Hotel Shilla shares surged Monday to a 52-week high after CEO Lee Boo-jin began a planned 200 billion won ($136 million) share buyback, and stronger-than-expected earnings fueled hopes for a turnaround after a prolonged period of lackluster growth. The stock closed Monday at 66,100 won, up 6.1 percent from Friday's close. It had climbed as high as 67,800 won earlier, breaking its 52-week high and reaching the strongest level since late 2023. Monday marked the first day of Lee's planned purchase.
Hanwha Group is set to launch a new holding company in August after securing preliminary listing approval from the Korea Exchange, as part of a broader governance overhaul. The exchange said Thursday that the proposed entity, tentatively named Hanwha Machinery & Services Holdings, meets Kospi listing requirements. The company is scheduled to be established on Aug. 1 and listed on Aug. 25. The new entity will be spun off from Hanwha Corp. and will oversee a portfolio of tech and lifestyle affilia
HanmiGlobal said Monday its real estate finance arm, HanmiGlobal Asset Management, has appointed Namkoong Hoon, former CEO of Mastern Investment, as its new chief executive. The appointment is aimed at strengthening the group’s asset management capabilities and expanding its value chain across real estate development, investment and operations. HanmiGlobal Asset Management entered the REIT market after securing approval as a REIT asset management company in December 2021. It has since participat
Chipotle bets on Korea for first bite of Asia
Samsung vs. LG battle for AI cooling heats up
Musinsa posts record earnings on offline, global expansion
One purchase every 0.9 second: Olive Young foreign sales top W1tr
Samsung, SK hynix tax payments surge 167% on chip boom
SK Chemicals eyes European can-coating market
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