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[ THE INVESTOR ] Shareholders of four Lotte companies approved a plan to set up a holding company on Aug. 29, in a move that is expected to tighten the grip of Chairman Shin Dong-bin as the group faces increasing internal and external difficulties. Lotte Confectionery , Lotte Shopping , Lo...
[ THE INVESTOR ] Samsung Electronics Vice Chairman Kwon Oh-hyun delivered an official statement to staff on Aug. 28 on the latest verdict on the firm’s heir-apparent Lee Jae-yong , urging workers to continue giving best efforts. “Although this situation of uncertainties is regrettable, we ...
[ THE INVESTOR ] On the eve of the court’s ruling on Samsung’s de facto leader on Aug. 24, tensions mounted in South Korea’s corporate community over how the tycoon’s fate would impact the future of the world’s largest producer of smartphones and microchips. On 2:30 p.m. Aug. 25, a local co...
[ THE INVESTOR ] The Seoul Central District Court on Aug. 23 barred the live coverage of the upcoming verdict on Samsung Electronics Vice Chairman Lee Jae-yong . The court also decided not to permit the taking of still photos during the trial on Aug. 25. “Lee Jae-yong and all other defenda...
[THE INVESTOR] Naver founder Lee Hae-jin has reduced his stake in the internet giant ahead of the change of its legal status as chaebol, which will lead to heightened antitrust scrutiny. According to a regulatory filing on Aug. 23, Lee, who is currently serving as global investment officer, sold ...
[ THE INVESTOR ] Samsung and two other leading family-controlled conglomerates in Korea accounted for a big chunk of listed firms’ first-half earnings, data showed on Aug. 21. According to the data by the Korea Exchange, 29 listed units of Samsung, LG and SK groups posted a combined net i...
[ THE INVESTOR ] Cho Yang-ho, chairman of Hanjin Group and Korean Air , is facing a criminal investigation over an allegation that he used company funds on his home remodeling. The National Police Agency said on Aug. 18 that they told the tycoon to appear for questioning on Aug. 24, and his sp...
[THE INVESTOR] Korean retail giant E-Land Group said on Aug. 17 it had named Lee Yun-ju as its first female chief financial officer to lead its plan for setting up a holding company. The new appointment comes after E-Land closed a deal selling its home and living brand Modern House to MBK Partner...
[THE INVESTOR] Hyundai Card CEO Chung Tae-young on Aug. 17 apologized for what is being criticized as a “disrespectful” concert performance by American pop singer Ariana Grande in Seoul. Grande has been bombarded with negative feedback from Koreans fans over her concert held on Aug. 15 at th...
[THE INVESTOR] GM Korea, the Korean unit of General Motors, announced on Aug. 17 it has named Kaher Kazem, president and managing director of GM India, as its new CEO from Sept. 1. The new appointment comes after GM announced recently it would stop selling cars in India from year-end. Amid GM’s ...
[ THE INVESTOR ] Lee Hae-jin , the founder of South Korean internet giant Naver , has visited the Fair Trade Commission to seek an “ownerless” status designation for the company, as it is on course to obtain “large corporation” status and become subject to new antitrust regulations. Lee,...
[THE INVESTOR] Hyundai Motor Group Chairman Chung Mong-koo earned 4 billion won (US$3.51 million) in salary in the first half of this year, while his son and vice chairman Chung Eui-sun received 624 million in the cited period. The senior Chung raked in 2.29 billion won paycheck from Hyundai Mot...
[THE INVESTOR] With the sentencing of Samsung’s heir apparent Lee Jae-yong slated for next week, there have been growing speculations over whether the tech giant will change its previous strategy on consolidating his leadership. There is general consensus among Samsung insiders as well as chaebo...
[THE INVESTOR] Dong-A Socio Holdings Chairman Kang Jung-seok was arrested on Aug. 8 for allegedly offering kickbacks to local hospitals and evading taxes. The Busan District Court issued a warrant to detain the 53-year-old chairman who is also the grandson of the founder of Dong-A Pharmaceutical,...
[THE INVESTOR] A special prosecutors’ team on Aug. 7 sought a 12-year jail term for Samsung Group Vice Chairman Lee Jae-yong on bribery and embezzlement charges. The 49-year-old Samsung heir is suspected of offering a combined 43.3 billion won (US$38.40 million) to former President Park Geun-hye...
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