Articles by Shin Ji-hye
Shin Ji-hye
shinjh@heraldcorp.com-
[Monitor] Samsung chairman receives W1.4tr in dividend payouts over decade
According to local corporate tracker Korea CXO Institute, Samsung Electronics’ ailing Chairman Lee Kun-hee will soon receive a dividend of 353.8 billion won ($296 million) for 2019. The firm analyzed the dividend status of Lee Kun-hee, his wife Hong Ra-hee and his son Lee Jae-yong for 10 years from 2010. Hong, formerly director of Samsung Museum of Art Leeum, is estimated to receive dividends of 76.7 billion won, and Lee Jae-yong receives about 59.5 billion won. Over the last decad
Industry Feb. 4, 2020
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Outbreak of coronavirus changes consumption patterns
Park Seon-hee, a resident of western Seoul, stayed home over the weekend, canceling her plans to meet friends, as more cases of coronavirus infections were reported. She and her husband chose to order in food, though she is now considering purchasing premade food products online or cooking from scratch. South Korean consumers are increasingly turning to online shopping as the prolonged outbreak of a new coronavirus continues to fuel concerns about going to crowded areas, potentially pulling
Industry Feb. 2, 2020
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Korean firms help to fight coronavirus outbreak
South Korean companies said Thursday they are lending a helping hand to fight the outbreak of new coronavirus in China, the nation’s top export destination. The nation’s largest automaker Hyundai Motor Group was one of the first firms to decide on delivering donations to Wuhan, the epicenter of the new coronavirus outbreak in Hubei province. The firm said it would deliver medical goods and donations totaling 15 million yuan ($2.2 million) to help Chinese people affected by the ep
Industry Jan. 30, 2020
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China’s coronavirus raises economic concerns in Korea
As the outbreak of China’s new coronavirus rapidly spreads, concerns have been raised about the Korean economy that heavily depends on China, the nation’s top export destination by volume. On Wednesday, China confirmed the number of deaths from the coronavirus epidemic at 132 and the number of confirmed cases at around 6,000. If the coronavirus turns into a prolonged outbreak, “the biggest concern is the impact on the Chinese economy,” said Park Sang-hyun, an analyst
Industry Jan. 29, 2020
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More institutions adopt stewardship code, embrace shareholder activism
The number of South Korean institutions that have embraced shareholder activism by adopting the stewardship code surged last year, raising tensions for companies ahead of their general shareholders meetings in March. The stewardship code sets forth guidelines for institutional investors, allowing them to participate actively in corporate governance by exercising their voting rights in the interests of their beneficiaries. The code was introduced in December 2016. The National Pension S
Industry Jan. 28, 2020
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Hyundai Motor heir gets rid of Elliott risk
The road to Hyundai Motor Group Executive Vice Chairman Chung Euisun reigning over the nation’s largest automobile giant is predicted to be less bumpy as activist hedge fund Elliott, which had put the brakes on his succession plans, recently sold all its stakes in Hyundai Motor companies. According to the industry, Elliott sold its stakes of 2.9 percent of Hyundai Motor, 2.1 percent of Kia Motors and 2.6 percent of Hyundai Mobis as of Wednesday. Elliott’s departure is expected to giv
Mobility Jan. 23, 2020
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Firms scurry to scout outside directors with new regulation
Following a recent change in regulations limiting tenures of outside directors, South Korea companies are scurrying to scout new members ahead of their general shareholders meetings in March.Citing a need to reinforce shareholders’ rights and institutional investors, the Cabinet approved on Tuesday revisions to the enforcement decrees of the Commercial Act, Capital Market Act and National Pension Act.To secure independency of outside board directors, the revised rule limits people who have
Industry Jan. 23, 2020
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Samsung, Posco record W1tr operating profit for 2 decades
Samsung Electronics and Posco are the only South Korean companies to record an operating profit of 1 trillion won ($858 million) for more than 20 years, latest data showed Wednesday. A new study by the Sustainable Growth Institute surveyed changes in operating profit of Korean companies between 1998 and 2018. The number of companies with an operating profit exceeding 1 trillion won stood at 18 in 2018, up from four in 1998, the survey found. The growth, however, has halted since 2010 when
Industry Jan. 22, 2020
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Late Lotte founder’s asset inheritance unlikely to affect group
The demise of Lotte Group founder and Honorary Chairman Shin Kyuk-ho on Sunday has put the spotlight on the distribution of his assets amongst his kin, reportedly worth over 1 trillion won ($864 million).However, market watchers are of the opinion that it will not affect the current leadership structure of Lotte Group, led by his second son and Chairman Shin Dong-bin. The inheritance is expected to be finalized through family counseling under the guidance of a legal representative. The late Shin
Industry Jan. 20, 2020
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Legendary Lotte founder passes away, leaving behind bitter sons
Lotte Group founder and Honorary Chairman Shin Kyuk-ho passed away Sunday at age 97, leaving as his legacy a self-made business empire, although his later years were marred by a family feud.He was the last of the first-generation founders of the major conglomerates -- the other four being Samsung, Hyundai, LG and SK. Shin was a self-made entrepreneur who started Lotte as a maker of chewing gum and grew the business into the nation’s fifth-largest conglomerate, operating in the food,
Industry Jan. 19, 2020
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Majority of big listed firms have no women on boards
Eight out of 10 listed Korean companies with assets of more than 2 trillion won ($1.7 billion) were found to have no women on their boards of directors, showing that the invisible barrier to top management is still strong, data showed Sunday.Local corporate tracker Chaebol.com found that 114 of the 143 listed companies with total assets of more than 2 trillion won had no female directors based on the lists of executives submitted at general shareholders meetings last year. Hyundai Motor, SK
Industry Jan. 19, 2020
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New GS chairman asserts ‘innovation’ for 2020
GS Group Chairman Huh Tae-soo presented “innovation” as his first management keyword since taking office last month, with the aim of expanding an open innovation culture in the conglomerate, officials said Tuesday. He took the baton to lead the group from his brother Huh Chang-soo last month. “We can increase the sustainability of our business and society by building partnerships with various other enterprises, including startups, and exchange healthy influences,” Hu
Industry Jan. 14, 2020
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Companies joining ‘W1tr club’ double in 2 decades
The number of South Korean companies with revenue of more than 1 trillion won ($867 million) has doubled over the last two decades, although the growth has slowed in recent years, latest data showed Tuesday. The findings were disclosed in a study by Sustainable Growth Institute which surveyed large domestic companies between 1998 and 2018 to gauge the health of Korea’s economy. According to the report, the number of firms with sales of more than 1 trillion won increased from 83 to 197
Industry Jan. 14, 2020
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Samsung’s top executives ink compliance pledge
Top executives of Samsung Electronics have vowed to abide by the law ahead of the launch of an in-house anti-corruption committee, officials said Monday. The firm’s three chief executives -- Kim Ki-nam, Kim Hyun-seok and Koh Dong-jin -- signed a compliance pledge at an event held in Samsung Digital City, Suwon. Other top executives also joined the pledge with their digital signature.They pledged to comply with local and foreign laws and company regulations, not to tolerate any violation of
Industry Jan. 13, 2020
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KT&G Welfare sends 60 college volunteers to Cambodia, Myanmar
KT&G Welfare Foundation has sent a total of 60 college student volunteers to Cambodia and Myanmar to improve the educational environment in the countries, the tobacco company said Monday. KT&G said the volunteering activities will be done for nearly two weeks at Siem Reap, a town in northwestern Cambodia, and the suburbs of Yangon in Myanmar, which have poor educational environments. Since 2005, the foundation has dispatched 1,390 international volunteer groups to improve the educat
Industry Jan. 13, 2020
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