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Reporter : Park Jae-hyuk
Fri, July 1, 2022 | 02:09
Why Sae-A wants to buy Ssangyong E&C from Dubai fund
Global Sae-A Group, the holding company of Sae-A Trading, an OEM clothing manufacturer, has raised concerns about its latest bid to buy Ssangyong E&C from the Investment Corporation of Dubai (ICD), a move that was made public, Thursday, according to industry analysts.
Ukrainian employees prevent shutdowns of Korean firms after Russian invasion
Ukrainian employees have enabled Korean companies to continue their operations in the Eastern European country, even after the evacuation of their Korean managers in the wake of Russia's invasion, according to industry officials, Thursday. POSCO International announced that it has partially resumed the operation of its grain terminal in the southern city of Mykolaiv, as its e...
Korean firms in dilemma over RE100
Korea's largest conglomerates appear to be facing difficulties in their commitment to obtain energy solely from renewable sources, amid the shortage of solar, wind and other cleaner energy options, according to industry officials, Wednesday. Earlier this week, Samsung Electronics Vice Chairman Han Jong-hee asked reporters to “wait a little more.”
Samsung, SK, Hyundai, LG face intensifying labor disputes
Korea's leading conglomerates are expected to face intensifying protests from their unions, as the season for wage bargaining began recently, according to industry officials, Wednesday. Unionized workers have particularly sought to eliminate the peak wage system through collective bargaining, taking advantage of the Supreme Court's recent ruling against the system, which has ...
Top conglomerates vow support for Busan's bid to host World Expo
Korea's largest conglomerates agreed to participate in the civilian committee to support Busan's bid to host the World Expo in 2030, under the leadership of Korea Chamber of Commerce and Industry (KCCI) Chairman Chey Tae-won, who is also the chairman of SK Group. KCCI said Tuesday that executives from 11 major Korean companies attended a ceremony that day to celebrate the lau...
Samsung SDI faces mixed outlook
A proxy war erupted between local and overseas securities firms, Tuesday, over their outlooks for Samsung SDI's stock price, which closed at 575,000 won ($465) during that day's trading session. After Citigroup analyst Peter Lee downgraded Samsung SDI to “sell” from “buy” and lowered his price target to 480,000 won from 930,000 won, multiple domestic brokerages issued refutin...
CEOs in Korea and Japan vow to restore bilateral economic ties
Business leaders from Korea and Japan agreed Monday to reconsolidate their economic ties under the two countries' new governments, overcoming a years-long diplomatic feud during their previous administrations. They made the promise during a teleconference held simultaneously in Seoul and Tokyo by the Korea-Japan Economic Association (KJE) to discuss ways to strengthen the eco...
Will KT succeed in listing Millie's Library?
Attention has been focused on whether or not KT will be able to list Millie's Library on the tech-heavy Kosdaq market by the end of the year as planned, with a growing number of companies scrapping their plans to go public in light of the stock market slowdown. The telecommunications company said Sunday that it applied for a preliminary review by the Korea Exchange for the in...
Shinsegae seeks another collaboration with Son Heung-min's fashion brand
Premier League Golden Boot winner Son Heung-min is set to join hands with Shinsegae Group once again to sell the products of NOS7, the fashion brand Son plans to launch on June 17, according to industry officials, Sunday. The new brand has drawn attention since last Tuesday, when the Tottenham Hotspur forward arrived at Incheon International Airport, wearing a white t-shirt d...
Employers criticize Supreme Court ruling against peak wage system
Business lobby groups expressed concerns, Thursday, about potential side effects from the Supreme Court's ruling against the peak wage system, which has been implemented by many domestic companies to gradually reduce the salaries of older workers before retirement. The lobby groups claimed that nullifying the system will weigh further on employers, causing job instability.
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