Connect to share and comment

Large conglomerates unclear in criteria for top management wages: report

SEOUL, April 7 (Yonhap) -- South Korea's largest conglomerates have yet to disclose their criteria in determining how much money is paid to top managers, a local corporate consulting firm said Monday, adding to public criticism that the large amount of paycheck they take home is often excessive and undeserved. According to EFC, which analyzed 2013 annual reports released by the country's top 10 business groups, Samsung and SK groups gave their registered directors more bonuses than wages, while others such as Hyundai Motor and LG used wages as the main means for compensation.

2014 Busan int'l motor show to be largest ever, 3 world premieres planned

SEOUL, April 1 (Yonhap) -- The upcoming Busan International Motor Show will be the largest of its kind with three new vehicles to be unveiled for the first time during the 11-day event, organizers said Tuesday. Twenty-one marques will show off their vehicles at the motor show that kicks off on May 29 and runs through June 8, they said. The Busan Exhibition and Convention Center (BEXCO) is coordinating preparations with the city of Busan, the Korea Automobile Manufacturers Association, and Korea Automobile Importers and Distributors Association.

2014 Busan int'l motor show to be largest ever, 3 world premieres planned

SEOUL, April 1 (Yonhap) -- The upcoming Busan International Motor Show will be the largest of its kind with three new vehicles to be unveiled for the first time during the 11-day event, organizers said Tuesday. Twenty-one marques will show off their vehicles at the motor show that kicks off on May 29 and runs through June 8, they said. The Busan Exhibition and Convention Center (BEXCO) is coordinating preparations with the city of Busan, the Korea Automobile Manufacturers Association, and Korea Automobile Importers and Distributors Association.

Income data show lineage still crucial to become rich in S. Korea

By Kang Yoon-seung SEOUL, April 1 (Yonhap) -- South Korea's business tycoons and their family members kept top spots in terms of income in 2013, data showed Tuesday, with other highly-paid individuals barely managing to catch up to the clans who collected massive earnings from dividends. According to the data by CEO Score, which tracks details of corporate leaders, most of the country's top 30 income earners had kinship ties with the heads of family-controlled businesses.

Major companies to be put under close watch by creditor banks

SEOUL, March 31 (Yonhap) -- As many as 14 major companies, including affiliates of big name conglomerates like Hyundai and Samsung, will be brought under close supervision by creditor banks this year as the financial regulator enforces tighter corporate debt overhaul standards, industry sources said Monday. The newly added companies include Hyundai Group, Halla Group, Hankook Tire Co., STX Offshore

Companies upbeat about Q1 earnings, brush off 'earnings shock' concerns

SEOUL, March 30 (Yonhap) -- South Korea's leading companies are generally upbeat about their earnings in the first quarter and are brushing off initial "earnings shock" concerns, industry and financial sources said Sunday. The predictions come as listed companies prepare to announce their earnings report for the three-month period in the coming weeks, amid worries raised by some investors spooked by a possible repeat of the "earnings shock" of Samsung Electronics Co. late last year.

Cash assets held by conglomerates top 157 tln won in 2013: report

SEOUL, March 30 (Yonhap) -- Cash assets held by South Korea's top 30 conglomerates grew sharply to 157.7 trillion won (US$147.5 billion) in 2013 as businesses withheld investment in the face of mounting uncertainties, a report by an online corporate research firm showed Sunday. According to CEO Score, cash held by the 171 listed companies belonging to the largest conglomerates, excluding financial firms, were up 18.3 percent from 133.3 trillion won tallied a year earlier.

Kia Motors opens school in Mozambique

SEOUL, March 28 (Yonhap) -- Kia Motors Corp., South Korea's No. 2 automaker, said Friday that it has opened a new secondary school in Mozambique as part of its social outreach program. The new secondary school, located in Helene, will offer more educational opportunities for locals living in the east African nation and highlights the social contributions of the carmaker's Green Light Project. In addition to the school, Kia, an affiliate of Hyundai Motor Group, the world's fifth largest automotive conglomerate, donated three Bongo vans that can ferry students.

Hyundai to build fourth China plant

South Korea's largest carmaker Hyundai Motor said Wednesday it will sign a preliminary agreement to build a fourth plant in China, as it looks to expand in the world's biggest car market. Chairman Chung Mong-Koo will put his name to the deal on Thursday, it said in a statement. With an annual production capacity of 300,000 cars, the plant in the southwestern mega-city of Chongqing is scheduled for completion in 2016 and will mark a "new leap forward" in the country, Hyundai added.

Hyundai Motor to build new Chinese plant in Chongqing

SEOUL, March 26 (Yonhap) -- Hyundai Motor Co., South Korea's No. 1 carmaker, said Thursday that it is moving to build a new production plant in Chongqing, China, that will allow the company to make the next leap forward in the world's largest new vehicle market. The company said its chairman, Chung Mong-koo, will meet with top Chongqing officials Thursday and sign a strategic cooperation pact.
Syndicate content