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The Korea Herald

The Boardroom

August 23, 2017
Naver founder reduces stake amid heightened antitrust scrutiny

[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 ...
August 21, 2017
Samsung, LG, SK top H1 net profit share

[ 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...
August 18, 2017
Korean Air head subpoenaed over fund misappropriation

[ 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...
August 18, 2017
E-Land names first female CFO to lead holding company scheme

[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...
August 17, 2017
Hyundai Card CEO apologizes for controversial Ariana Grande concert

[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...
August 17, 2017
GM names India chief as new Korea CEO

[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 ...
August 17, 2017
Naver founder seeks ‘ownerless’ company designation

[ 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,...
August 16, 2017
Hyundai Motor chairman makes W4b salary in H1

[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...
August 15, 2017
Is Samsung really doomed without its heir?

[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...
August 08, 2017
Dong-A Socio chairman arrested for alleged kickbacks, tax evasion

[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,...
August 07, 2017
Prosecutors seek 12-year prison term for Samsung heir

[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...
August 04, 2017
Last hearing of Samsung heir’s bribery trial begins

[THE INVESTOR] The last hearing of Samsung Group heir and Vice Chairman Lee Jae-yong, who is suspected of bribing former President Park Geun-hye’s longtime confidante Choi Soon-sil, began in the afternoon on Aug. 4, following which a final ruling will be delivered next next week. During the two ...
August 03, 2017
Hyundai Motor chairman, highest-paid chaebol head

[ THE INVESTOR ] Hyundai Motor Chairman Chung Mong-koo was the top earner among leaders of family-controlled conglomerates last year in South Korea, data showed on Aug. 3. The Economic Reform Research Institute said in its analysis of executives’ annual paychecks that Chung earned 9.3 billi...
August 02, 2017
Samsung's former No. 2 man denies heir’s involvement in corruption scandal

[ THE INVESTOR ] Choi Gee-sung, former vice chairman and No. 2 man of Samsung Group, said at a trial on Aug. 2 that he, not Samsung heir and Vice Chairman Lee Jae-yong, approved the support programs for Chung Yoo-ra, a former equestrian athlete and the daughter of the now-impeached President Park...
August 02, 2017
Prosecution widens KAI probe

[ THE INVESTOR ] Prosecutors said on Aug. 2 that they have launched an investigation into allegations of accounting fraud at Korea Aerospace Industries , with its top executives already under probe for cost manipulation and slush funds. The Seoul Central District Prosecutors’ Office began its...

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