Most Popular
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Yoon, Lee end first talks with differences, agree to meet more
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What is Hybe’s next move?
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[Grace Kao] Hybe vs. Ador: Inspiration, imitation and plagiarism
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China outpaces Korea in smaller OLED shipments for 1st time
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[Herald Interview] Mom’s Touch seeks to replicate success in Japan
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Police to open alleged stalking probe over pastor over Dior bag scandal
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'Queen of Tears' finale sets record viewership ratings as tvN's most-watched series ending
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[News Focus] Lee tells Yoon that he has governed without political dialogue
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Seoul to deploy more military doctors to fill med prof void
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Liberal bloc moves to rewrite student rights ordinance
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S-Oil starts supporting students from orphanage
S-Oil, one of Korea’s top oil refiners, launched a scholarship program to help college students lacking in family support, the company said Tuesday.Chief Executive Officer Nasser Al-Mahasher visited “Seondeokwon” in northwestern Seoul to award “S-Oil Dream Scholarship” to 40 students from the orphanage. S-Oil CEO Nasser Al-Mahasher (center) poses after delivering scholarships to support students from orphanage “Seondeokwon” in noerthwestern Seoul on Tuesday.(S-Oil)The selected students current
July 19, 2016
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Chance for pardon puts CJ chairman in dilemma
South Korean conglomerate CJ Group is in a deep dilemma with the ongoing court appeal by its chairman complicated by chances that he will be pardoned next month, group insiders said Friday.Lee Jay-hyun, who controls the group's businesses that sprawl from food and pharmaceuticals to entertainment and home shopping, is awaiting the Supreme Court's ruling on charges against him that include embezzlement, tax evasion and breach of trust. His confinement is currently suspended because of deteriorati
July 15, 2016
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[Super Rich] Beauty success through social media
When L’Oreal acquired NYX Cosmetics for a whopping $500 million in 2014, the world’s largest cosmetics company likely had its eyes set on NYZ’s large social media following. NYX is known for its effective use of social media to connect with consumers, including Facebook, YouTube and Instagram. Toni Ko’s InstagramAs of early June, NYX has over 7.3 million followers on Instagram while L’Oreal has 2.5 million followers. When L’Oreal acquired NYX, it did not even have 10,000 followers. The person b
July 14, 2016
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GS’s 4th generation owners increase stake
[THE INVESTOR] The great-grandchildren of GS Group(chairman Huh Chang-soo) are steadily increasing their stake in the family business. On July 13, GS announced that GS Caltex executive vice president Huh Joon-hong has purchased 52,000 shares on July 7 and 8. He had the largest stake in the holding company among the fourth generation with 1.64 percent (1,556,327 shares) as of February 2016.GS Caltex executive vice president Huh Joon-hongHe is the great-grandson of GS Group founder Huh Man-jung an
July 14, 2016
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Korean Air heiress promoted to executive vice president
[THE INVESTOR] Cho Hyun-min, youngest daughter of Hanjin Group chairman Cho Yang-ho was promoted to executive vice president at Jin Air, the group’s flagship Korean Air’s budget airline. Cho will remain as Jin Air’s marketing chief even after the promotion. Cho Hyun-minOn July 8, Jin Air announced a modest reshuffle, elevating the status of its maintenance team to a division with aims to put more focus on aviation safety. In April, the chairman’s only son Cho Won-tae was named as new president o
July 8, 2016
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Lotte group chairman, founder placed under travel ban
Prosecutors said Friday they have put travel bans on the chairman of embattled South Korean retail giant Lotte Group and its founder as they widened their probe into allegations of corruption in the conglomerate.The Seoul Central District Prosecutors' Office has barred Chairman Shin Dong-bin and his father and Lotte founder Shin Kyuk-ho from leaving the country, according to the sources. Prosecutors have been widening their investigation into the country's fifth-largest conglomerate since early
July 8, 2016
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Lotte founder and son banned from leaving Korea
[THE INVESTOR] Lotte Group founder Shin Kyuk-ho and his son Shin Dong-bin who is the group chairman have been banned from leaving South Korea, according to court sources on July 8.The ban comes less than a month since the prosecution initiated an all-out probe into South Korea’s fifth-largest conglomerate on June 10 on charges of embezzlement and breach of trust. Shin Kyuk-ho (left) and Shin Dong-bin (right)Industry watchers said the move indicates that the authorities have gathered enough ev
July 8, 2016
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CJ Group chairman recovering from surgery for lung cancer
[THE INVESTOR] CJ Group chief Sohn Kyung-shik is recovering from surgery to treat lung cancer, according to company sources. Sohn, who was diagnosed with the cancer this May, is said to be in a stable condition.The CJ chairman is uncle to Lee Jay-hyun, the CJ group heir. CJ Group chairman Sohn Kyung-shikSohn has been heading Korea’s largest food and entertainment company since 1995 when CJ split from Samsung. After spending some time outside the company in early 2000s, he made a comeback at CJ w
July 7, 2016
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Celltrion chairman pushes to build theme park in Incheon
[THE INVESTOR] South Korean pharmaceutical firm Celltrion ’s chairman Suh Jeong-jin has kicked off plans to build a large-scale theme park in Incheon’s Yeongjong-do, according to an exclusive news report here. The park would be a personal project, with a handful of investors taking part, according to Incheon Free Economic Zone authorities and the Incheon Development & Tourism Corp. “A group of investors including Suh has already invested around 1 billion won (US$86,930) to initiate the plan. The
July 6, 2016
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Lotte Group women rise to the surface due to scandal
[THE INVESTOR] Now that an arrest warrant has been issued for Lotte Foundation chief Shin Young-ja -- the first Lotte founding family member to face imprisonment in the firm’s latest embezzlement scandal -- all eyes are on the women of Lotte Group who have so far stayed behind the scenes. In addition to Young-ja, there are her daughters including Jang Sun-yoon, senior vice president of Hotel Lotte, and also Lotte founder Shin Kyuk-ho’s third wife Seo Mi-kyung and her daughter Shin Yu-mi who are
July 5, 2016
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Lotte’s Shin Young-ja faces criticism for funneling company funds to her children
[THE INVESTOR] Embattled Lotte Foundation chief Shin Young-ja and her children are expected to face public scrutiny over some 4 billion won (US$3.47 million) worth of corporate funds they are suspected to have embezzled. Shin is elder sister of Lotte Group chairman Shin Dong-bin.And the bigger issue is that Shin funneled most of the money to her kids to be used as their personal allowances. Lotte Foundation chief Shin Young-ja /The Investor(Park Hyon-koo)Through a small company formed by Young-
July 5, 2016
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South Korean tycoons’ stock value falls
[THE INVESTOR] The majority of South Korean business tycoons saw a fall in the value of their stock assets this year, an analysis by a think tank showed on July 1. According to the think tank specializing in Korea’s largest companies, the value of stocks held by 13 of 19 leaders of major businesses fell during the first half of this year. The data showed that the value of 46 of 61 listed companies held by the 19 individuals fell between Jan. 4 and June 30. Samsung Electronics vice chairman Lee J
July 1, 2016
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Sejung heiress promoted to COO
[THE INVESTOR] Sejung Group chairman Park Soon-ho’s daughter Park I-ra, 38, has been promoted to chief operating officer and executive vice president at her father’s fashion empire.According to the group on July 1, the junior Park will also serve as head of the group’s apparel distributor Sejung & Future.Established in 1974, Sejung has a stronghold in women’s apparel and is one of the leading second-tier clothing firms in the country.Sejung Group COO Park I-raPark, the chairman’s third daughter,
July 1, 2016
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Lotte’s key finance man questioned in growing probe
Lotte Insurance chief executive Kim Hyun-soo.[THE INVESTOR] Lotte Insurance chief executive Kim Hyun-soo has been summoned for questioning in the prosecution’s probe into Lotte Group. He has been summoned as a witness. Kim served in accounting rolls in Lotte Department Store from 1987 to 2014. From 2007, he was in charge of the company’s finances. In serving as the company’s finance chief, Kim is said to have managed personal funds of Lotte Group founder Shin Kyuk-ho, and current chairman Shin
June 23, 2016
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Richest under 40: Koo Gwang-mo
[BORN TO BE RICH] Among South Korea's richest aged 40 years or younger, LG chairman’s the adopted son Koo Gwang-mo, 38, of LG Group is the wealthiest. His net worth is estimated at 751.8 billion won (US$650.5 million).LG Corp. vice president Koo Gwang-mo.Koo is the great grandson of LG’s founder, the late Koo In-hoe. He was born to Heesung Group chairman Koo Bong-neung, but was adopted by his uncle Koo Bon-moo, chairman of LG. Gwang-mo is currently a vice president of LG Corp. He was promoted to
June 22, 2016
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Samsung to invest $1.2 billion in U.S. IoT business
Samsung Electronics Co., South Korea's No. 1 tech firm, announced Tuesday that it will pour $1.2 billion by 2020 into the Internet of Things business in the United States, as part of its global initiative to create a new IoT ecosystem, a hot issue in the ICT world.Samsung also launched an advisory group in partnership with Intel Corp. to affect U.S. policy on IoT."I am excited to show how we are moving IoT to the center of our strategy and am delighted to announce that Samsung is planning to spe
June 22, 2016
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Samsung supports Korean War veterans' offspring
The Samsung Group, South Korea's largest conglomerate, has gone global not only with its smartphones and other products but also with steady financial support for those in need abroad.Major beneficiaries include Korean War veterans and their offspring.Samsung has provided them with a total of around US$8.5 million in various aid programs since the early 1990s, according to group officials on Monday.The campaign is based on the belief that the sacrifice of the war veterans is the reason for the r
June 20, 2016
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Conglomerates selling stakes in money-making affiliates to raise funds
[THE INVESTOR] Owners of the nation’s top conglomerates are increasingly selling their stakes in various money-making affiliates to raise funds needed for participating in capital increases of other key affiliates.On June 8, Hanjin Group chairman Cho Yang-ho sold a 6.87 percent stake in one of Hanjin’s real estate brokering affiliates for 25.1 billion won (US$21.3 million), according to a regulatory filing on June 16. The brokering affiliate had posted 41.3 billion won in sales and 14 billion wo
June 17, 2016
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Kakao to split its business into two arms
[THE INVESTOR] Mobile messenger operator Kakao is reportedly planning to split its services business into two divisions -- social network and portal.The social network division will be in charge of running its flagship social networking services including KakaoTalk and KakaoStory while the portal business will be operating news platform Daum News and content platform KakaoTalk Channel among others.KakaoTalk ChannelLim Sung-young, director of the firm’s media content team, will head the portal bu
June 17, 2016
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Divorce battle reveals unknown aspects of Samsung family
[THE INVESTOR] Packed with twists and turns, a divorce suit between former Samsung Electro-Mechanics executive Lim Woo-jae and his wife and Hotel Shilla president Lee Boo-jin unveiled unknown stories behind the family owners of Samsung Group, the largest conglomerate in Korea.Lim, first son-in-law of Samsung Group chairman Lee Kun-hee, said in an interview with Korean news publication Hankyoreh on June 16 that he had twice attempted suicide during the 17 years of his marriage due to pressure fro
June 17, 2016