[THE INVESTOR] A local court issued a personal bankruptcy order on former Tong Yang Group Chairman Hyun Jae-hyun who previously inflicted broad monetary damage on investors by issuing bogus commercial paper. With the ruling, the court sided with a number of victims who requested the former chairman to be declared bankrupt.Based on the current laws, the latest ruling would allow the court to name a trustee to review Hyun’s assets so they can be disposed of to be divided among the creditors. Forme

[THE INVESTOR] As many as five members of the founding family of Lotte Group -- Korea’s fifth-largest conglomerate -- have either been questioned or face indictment in relation to the prosecution’s ongoing investigation into corporate malfeasance. Lotte Group Chairman Shin Dong-bin is scheduled to be summoned for questioning on Sept. 20 on a broad range of allegations, most of them involving embezzlement and breach of trust.Some sources say the amount concerning his involvement may reach up to 2

[THE INVESTOR] Shinsegae Department Store President Chung Yoo-kyung is stepping up business as she looks to hit the annual 2 trillion won (US$1.82 billion) sales figure in the near future. Chung was promoted to CEO in 2015, six years after she became vice president. And in April this year, she bought the department store stocks from her brother Yong-jin -- vice chairman of Shinsegae Group -- to now hold a 9.83 percent stake in Shinsegae Department Store, solidifying her managerial position withi

[THE INVESTOR] Hanwha Group’s next-in-line Kim Dong-gwan, the sales managing director of key affiliate Hanwha Q CELLS said he expects renewable energy to account for 54 percent of the global energy market by 2040, with solar energy taking up 26 percent. That would reflect a 13-fold jump from the current 2 percent market share. Kim, the eldest son of group Chairman Kim Seung-youn also said that an integration between solar energy technology and energy storage system technology is expected to brin

[THE INVESTOR] AmorePacific Group Chairman Suh Kyung-bae on Sept.1 confirmed that he would donate 300 billion won (US$267.90 million) of his personal assets to the Seo Kyung-bae Science Foundation.“I hope this foundation can contribute to discovering high caliber researchers who will be able to pioneer new areas of research and constantly put forward new ideas to eventually become globally competitive, and in turn contribute to Korea’s national competitiveness and the overall quality of human ra

[THE INVESTOR] Kolmar Korea has promoted CEO and Vice President Yoon Sang-hyun to president of the firm, the company said on Sept. 1 Yoon is the eldest son of the founding Chairman Yoon Dong-han. The junior Yoon was previously an executive at consulting firm Bain and Co. before he entered Kolmar Korea in 2009. He was promoted to vice president in 2011, and to CEO in 2015.By Kim Ji-hyun (jemmie@heraldcorp.com)

[THE INVESTOR] Seo Mi-kyung, the common-law wife of Lotte Group founder Shin Kyuk-ho, owns real estate worth over 100 billion won (US$88.97 million), according to a local conglomerate tracker on Aug. 30.Chaebul.com said that Seo owns five pieces of real estate, which were worth a total of 117.7 billion won, based on the appraisal by the Land Ministry this year. Lotte founder Shin Kyuk-ho.They include land that she inherited from Shin in 2007 that is worth 82.2 billion won. Another piece of land

[THE INVESTOR] Hi Investment & Securities, a brokerage affiliated with Hyundai Heavy Industries, said in an Aug. 25 report that a change in Hyundai Motor Group’s corporate governance is expected in the near future, with the focus shifting to Hyundai Mobis and Hyundai Glovis.The two firms have central roles in the succession of managerial control over Hyundai Motor Group from incumbent Chairman Chung Mong-koo to his son Eui-sun. Hyundai Motor Group’s corporate governance has a circular investment

[THE INVESTOR] Hyundai Motor Group’s high-end car brand Genesis entered North American markets eight months after its launch in South Korea.On Aug. 8, Hyundai Motor’s North American corporation announced the beginning of sales there with a media test drive for its mid-sized luxury sedan, the G80. The new flagship G90 will be launched overseas in September.　Hyundai Motor Group vice chairman Chung Eui-sun speaks to the press at the North American International Auto Show in Detroit last January. Hy

[THE INVESTOR] Hyundai Motor Vice Chairman Chung Eui-sun is cited as a hybrid between his grandfather Chung Ju-young, who founded Hyundai Group, and his father Chung Mong-koo, who is the incumbent chairman of Hyundai Motor Group. Those close to Chung Eui-sun say that while he has his own flavor of patience and perseverance, he seems to have inherited the love of challenge from his grandfather and from his father, an unwavering drive. Hyundai Group fouder Chung Ju-young.  Hyundai Motor GroupAt th

[THE INVESTOR] Hyundai BS&C, a construction firm associated with Hyundai Group, has been outed for frequently shortchanging subcontractors. Records from the Fair Trade Commission showed that Hyundai BS&C was caught violating related laws exceeding the set limit between 2013 and 2015. Hyundai BS&C was established by Chung Dae-sun, one of the grandsons of Hyundai Group founder Chung Ju-young and husband of former celebrity anchor Noh Hyun-jung.  Hyundai BS&C founder Chung Dae-sunThe junior Chung w

[THE INVESTOR] The Solidarity for Economic Reform civic group on Aug. 23 called on Samsung Electronics Vice Chairman Lee Jae-yong to “shoulder responsibilities as a controlling shareholder” in Samsung Heavy Industries' latest decision to undergo a capital increase to secure more liquidity.  Samsung Electronics Vice Chairman Lee Jae-yong (left)The group -- led by corporate governance expert Kim Sang-jo -- warned the move could turn out to be a “failure” if ordinary shareholders who hold 65 percen

[THE INVESTOR] Hotel Shilla, the brainchild of Samsung heiress Lee Boo-jin, appears likely to enter this year’s race for rights to operate duty-free shops in downtown Seoul, industry sources said on Aug. 22. They noted the company has recently formed a task force for winning the rights to compete against rivals such as Lotte, SK Networks, Hyundai Department Store and Shinsegae. “A final decision has to be reached, but we are likely to take part in the bid,” said one Hotel Shilla representative o

[THE INVESTOR] SPC Group has opened its first Paris Baguette chain in Chengdu, located in the southwest area of China that encompasses provinces such as Sichuan. The area has recently been experiencing a development boom on the latest Chinese government policies. Chengdu is the provincial capital of Sichuan, and is the fourth most populated city in China with 14 million people, according to SPC.SPC Group Chairman Hur Young-inThe group said it plans to open more shops in Chengdu, and also will ex

[THE INVESTOR] Hyosung Group, led by next-in-line Cho Hyun-joon, sold off its automatic teller machine manufacturing plant in Beijing.Hyosung recently sold its entire stake in Beijing Hyosung Computer Technologies -- operator of the manufacturing plant -- to a foreign company for a reported 25 billion won (US$22.4 million), according to investment bank sources on Aug. 22. Hyosung has been operating the Beijing plant in a joint effort with its affiliate, Nautilus Hyosung, since 1999. Hyosung Grou

[THE INVESTOR] Kumho Asiana Group Chairman Park Sam-koo’s eldest son Se-chang has been named an internal director at the group’s holding company Kumho & Co., according to the firm on Aug. 22. Industry sources say the move appears to mark a transition of power to the junior Park, who was named CEO of Kumho Asiana Group’s corporate strategy division this year. He is also concurrently the head of both Kumho Corp. and Asiana Sabre -- a travel reservation service affiliated with Asiana Airlines. In a

[THE INVESTOR]  Naver, led by founder Lee Hae-jin, has invested 23.3 billion won (US$20.9 million) to establish WAV Media -- a video streaming service -- in the US.Naver confirmed Aug.19 that it created WAV Media as a subsidiary in California in June this year.  Naver founder Lee Hae-jin“This is one of the many ideas we have in regards to making inroads in the US,” said Choi Seo-hee, a spokesperson for Naver here. “We believe the most effective content would be that localized for the US markets,

[THE INVESTOR] Smilegate Holdings, founded by South Korea’s fourth-richest person Kwon Hyuk-bin, is set for a pilot run of the firm’s latest massively multiplayer online role-playing game “Lost Ark” on Aug. 24.On Aug. 18, Smilegate unveiled “Lost Ark,” which succeeds its previous hit, “CrossFire,” released nine years ago. It took five years for the firm to come up with “Lost Ark.”  Smilegate Holdings Chairman Kwon Hyuk-bin (left) at the launch event of “Lost Ark” on Aug.18At the launch event, Je

[THE INVESTOR] Six of the 10 top South Korean conglomerates spent more on entertaining buyers or others with business connections over the past four years, but the increases did not appear to have helped with corporate growth. The six include Samsung, Hyundai Motor Group, Hanwha and GS.According to research by The Investor and the Herald Business, ten South Korean firms run by owner families increased their entertainment expenses by double-digit percentages between 2012 and 2015. Hyundai Motor G

[THE INVESTOR] Among Korea’s top 10 conglomerates, LG Group spent the most in miscellaneous accounts, which mainly appears to have been used for entertainment and promotional purposes, according to research from Herald Business and The Investor.From 2012 to 2015, LG reported no official entertainment expenses, but the firm spent 11.8 trillion won (US$10.7 billion) on miscellaneous purposes. LG Group headquarters in Seoul.Next was Samsung, which spent about 9.4 trillion won in its miscellaneous a