South Korea’s food and entertainment giant CJ Group is set to expand investments and speed up its delayed plans to tap more markets around the world by carrying out a personnel reshuffle in March, the group said Sunday, hinting at chairman Lee Jay-hyun’s return to management. “Sales grew slightly last year but the group’s sales remained at 20-something trillion won for the last three or four yea...

The labor union of Hyundai Heavy Industries has launched a full-scale strike, calling on the company to finish wage negotiations and scrap its plan to spin off non-shipbuilding units. The labor union has staged partial strikes several times but Thursday’s strike was the first full-fledged strike in 23 years. The labor union carried out an eight-hour strike from 8 a.m. and said it planned to con...

KEB Hana Bank was selected the best private bank in Korea in the Private Banking & Wealth Management Survey 2017 by Euromoney, a business and finance magazine based in London, the bank announced Thursday. This is the 10th time the bank was recognized by the Euromoney survey, which has been conducted for 14 years. “As a new bank combines strengths in asset management and foreign exchange service...

Kumho Asiana Group has been expanding its cultural activities as the core of its social contribution programs, helping to foster aspiring artists and operating the country’s representative museums and art centers. South Korea’s leading air carrier has been expanding its artistic contribution, in particular since Chairman Park Sam-koo was made the ninth chair of the Korea Mecenat Association, a n...

Shares of a luxury hotel led by Samsung Electronics Vice Chairman Lee Jae-yong’s younger sister were on the rise amid rumors that she might fill the group’s leadership vacuum. Shares in Hotel Shilla, led by Lee Boo-jin, the eldest daughter of Samsung Group Chairman Lee Kun-hee, soared Friday as market watchers speculated the 46-year-old female tycoon may succeed her brother in managing South Kor...

A court in South Korea has declared the bankruptcy of Hanjin Shipping, after two weeks of appeals that ended Friday, bringing to a close 40 years of the company’s history as a leading shipping line and leaving challenges for the industry. The demise of the company -- once the largest shipping company here and the world’s seventh biggest -- began in 2008 in the midst of the financial crisis. Han...

SPC Group, which was recently boosted by its successful launch of premium burger chain Shake Shack here, is undergoing a generational shift in management. Chairman Hur Young-in’s two eldest sons were promoted to vice presidents in 2015 and 2016 joining the firm’s management. The change has drawn a mixed reaction among those in the food and beverage industry, with some anticipating the young lea...

There are eight public enterprises that are listed on the domestic stock market: Kangwon Land, Grand Korea Leisure, Industrial Bank of Korea, Korea Gas Corporation, Korea Electric Power Corporation, KEPCO Engineering and Construction Company, KEPCO KPS, and Korea District Heating Corporation. The corporate stocks of these companies are openly traded on the market. Both individuals and companies ...

KEB Hana Bank was named the best private bank in digital client solutions by a global finance magazine, the bank said Wednesday. South Korea’s leading bank, owned by Hana Financial Group, received the Global Best PB in Digital Client Solutions award in New York on Tuesday. The award was bestowed by Global Finance, a finance magazine based in the US that surveys and picks the best players in vari...

SK Engineering and Construction announced Friday it had inked a deal worth 3.7 trillion won ($3.23 billion) to build South Korea’s largest private power plant in Goseong, South Gyeongsang Province. The company will build two generator units at the thermal power plant, which will have a capacity of 1,040 megawatts. The company said it would apply top-notch technology to build an efficient power p...

Korea’s top 100 rich list is dominated by chaebol families, but there is one self-made man who has made it on to the list, Kim Jung-ju. At 49 years old, Kim is the chairman of NXC, the holding company of Nexon, which is the representative figure of the online game industry. According to The Superrich Team’s “Korea’s Richest 100,” Kim has 2 trillion won ($1.7 billion) worth of assets through his ...

An increasing number of second- to fourth-generation daughters of the nation’s large conglomerates are seen joining the ranks of management in recent years. These daughters, born in the 1980s and 1990s, tend to graduate from universities abroad and start their careers at consulting firms before joining their family businesses. They tend to enter their fathers’ companies in their mid-20s, with so...

Hyundai Motor Group's new headquarters building to be constructed in southern Seoul by 2021 will be the country's tallest, a district office said Wednesday. Its draft document for environmental impact assessment submitted to the Gangnam Ward Office showed that the main building of the planned Global Business Center (GBC) will be 569 meters tall. Previously, the world's fifth-largest carmaker sa...

Samsung Fire & Marine’s insurance risk consultant program offers a win-win system that provides stable jobs for women and reliable services for customers. The company offers a six-month training course for a beginner RC in order to provide a systemic education for its RCs. The job offers stability both in career and income, making it particularly helpful for women seeking to re-enter the job mar...

McDonald’s Korea is participating in The Korea Herald’s campaign to provide newspapers to military units in isolated regions as part of its social responsibility program, the company said Wednesday. The units are located in areas including Hwacheon in Gangwon Province and Icheon and Yeoju in Gyeonggi Province. Some 50 editions will be provided to the units for a year. McDonald’s have been exert...