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Companies

Sun, May 22, 2022 | 23:00

CEOs trying to form ties with young employees

Samsung, LG and other conglomerates' CEOs are working on strengthening their communication with the MZ generation, a Korean term referring to people born in the period from the early 1980s through to the early 2000s. As the younger generation is now taking the center stage in each company, such efforts are interpreted as a move to get closer to young employees and facilitate ...

Baek Byung-yeul | 2022-05-15 16:23

Companies enhance benefits to better suit MZ employees' lifestyles

Some of Korea's largest companies are getting more in tune in accommodating the lifestyles of the millennial and the Generation Z (MZ) generations by creating employee benefit programs and a better work-life balance environment that includes increasing paid leave, implementing a four-day workweek and strengthening employee welfare policies.

Kim Hyun-bin | 2022-05-15 15:52

Local election campaigns embarrass Samsung, SK, Hyundai, POSCO

Candidates running in the June 1 local elections have put major conglomerates in an awkward position, as they are pledging to have corporate headquarters and factories be established in their constituencies, despite growing doubts about the feasibility of such promises, according to industry officials, Sunday.

Park Jae-hyuk | 2022-05-15 15:09

Samsung considers raising chip prices by 20 percent: report

Samsung Electronics Co. is considering raising chipmaking prices by up to 20 percent, a news report said Friday.Bloomberg reported the South Korean chipmaker is in talks with foundry clients to hike the contract chipmaking prices.Samsung spokespersons, contacted by Yonhap, said they could not officially comment on the matter.

2022-05-13 20:45

KT&G achieves earnings surprise in Q1

KT&G, the country's largest tobacco company, recorded an earnings surprise in the first quarter of this year thanks to its flourishing overseas business, with robust sales of its heat-not-burn (HNB) tobacco products and e-cigarettes, the company said Friday.

Kim Jae-heun | 2022-05-13 17:48

KEPCO's worst-ever quarterly loss likely to cause hike in electricity bills

Due to rising oil prices, the Korea Electric Power Corp. (KEPCO) posted its worst-ever earnings for the first quarter of this year. While KEPCO is planning to recover from the financial crisis by liquidating assets to secure money, it is expected that the state-run power company could end up increasing people's electricity bills.

Anna J. Park | 2022-05-13 17:40

Major companies scramble to brace for potential perfect storm

Major conglomerates are scrambling to brace for a possible perfect storm amid the Russia-Ukraine war, China's blockade of Shanghai, inflation and the sharp rise in raw material costs, according to company officials. Businesses have been conducting emergency meetings of CEOs to review the current status of business and carry out organizational restructuring to cope with the cr...

Kim Hyun-bin | 2022-05-13 17:34

KG consortium selected to acquire SsangYong Motor

The Seoul Bankruptcy Court chose a consortium led by the domestic chemical and steel conglomerate KG Group as the preferred bidder for the debt-ridden SsangYong Motor, which has been seeking a new owner after a takeover deal with Edison Motors fell through, the court said Friday.

Baek Byung-yeul | 2022-05-13 16:50

Seoul E-Prix to be 'best car race ever held in Korea'

The Seoul E-Prix, a Formula E electric vehicle (EV) racing competition, will offer residents a rare chance to enjoy an exciting EV race as well as other entertaining events in the capital city, according to the organizer on Friday, who promised “the best racing event Korea has ever hosted.”

Baek Byung-yeul | 2022-05-13 16:50

Hyundai Mobis to strengthen mobility software

Hyundai Mobis has signed a memorandum of understanding (MOU) with Vector of Germany for the joint development of an AUTOSAR-based (AUTomotive Open System ARchitecture) software platform, which is optimized for the global automobile market, the company said Friday.

2022-05-13 16:25

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