[DECODED] The corporate board of Hyundai Motor, the top decision-making body for the nation’s largest automaker, has made improvements in its shareholder-friendly policies for the past few years by raising dividend payments and setting up a sub-committee for better communication with shareholders. The nine-member body, however, has made little progress in upgrading the quality of itself, idling from its core “watchdog” role for better management decisions. The automaker’s governing body has been

[DECODED] The year 2015 was a watershed year for Hyundai Motor Group’s heir apparent Chung Eui-sun not only because of his expanded role and responsibility in leading projects for future growth like the launch of Hyundai Motor’s first luxury car brand Genesis, but also because of his increased presence in the group’s ownership structure. The only son of the 78-year-old group chairman Chung Mong-koo increased his stake in Hyundai Motor, the group’s flagship affiliate, to 2.3 percent last year fro

[DECODED] Kim Se-yong, a marketing manager at a local energy conglomerate, feels sympathy for minority shareholders of Samsung SDS, an IT solution unit of Samsung Group. They have been protesting the company’s continued stock decline. Its stock price has dropped from 429,500 won ($366) to 132,000 won last Friday due to growing uncertainties over its role in the succession of Samsung Group heir Lee Jae-yong. Lee is the largest individual shareholder of the company with a 9.2 percent stake. (KRX)“

When visiting a real estate agency last Saturday, Choi Ho-rim, 40, was surprised to find that there were no apartments at the size of 25 pyeong on sale in Seocho Hills, a complex of 1,082 homes in Umyeon-dong, Southern Seoul. One pyeong is equivalent to about 3.3 square meters and it is a unit used to measure the size of rooms and buildings in Korea.“Things were quite different a few month ago. There were dozens of this size of apartments on sale,” she said. Visitors listen to the explanation of

The recent takeover bid by Korean retail giant Shinsegae Group for “Jeju Soju” last week proves the passion of the group’s vice chairman Chung Yong-jin for the liquor business again.Chung, who is known to be a wine enthusiast, has expanded the company’s business in this area for the past few years by entering into the wine import and distribution business, and by opening the craft beer-centric bar Devil’s Door in Seocho-dong, an affluent part of southern Seoul.   Shinsegae Group vice chairman Ch

The stock-listing of six power generation affiliates of state-run Korea Electric Power Co. that the government proposed Tuesday may face difficulties mainly due to insufficient investor interest, market watchers said.The targeted six companies, fully owned by the nation’s top utility giant, include Korea Hydro & Nuclear Power, Korea South-East Power, Korea Midland Power, Korea Western Power, Korea Southern Power and Korea East-West Power.   The Tanjung Jati coal-fired power plant in Indonesia th

Samsung SDS, a key information and technology arm of Samsung Group, is likely to choose a split-off rather than a spin-off to reorganize its lucrative business process outsourcing business unit, which is aimed at easing opposition of minority shareholders, according to market watchers on Monday. “Facing a growing number of activist shareholders, the Samsung unit is likely to choose a split-off to minimize the impact of its asset divest plan on its share price,” HI Investment & Securities said in

Mobile app-based start-ups offering a business platform are changing the used car market, attracting car buyers seeking a better deal.Mobile trading is a new growth area for the used-car market in Korea, which has long been dominated by the traditional offline dealer-based transactions. Hey Dealer is one such newly created mobile application offering O2O services to used-car buyers. “Hey Dealer seeks to match offline used-car dealers with customers who want to sell their cars with minimal effort

Dongkuk Steel Mill, the nation’s third-largest steelmaker, said Sunday it stared the operation of CSP Steel Mill, its long-awaited first blast furnace steelwork, located in Pecem City of Ceara State, Brazil.Dongkuk Steel vice chairman Chang Sae-wook fired up the blast furnace with other participating VIPs in the ceremony held at the site on Saturday, the company said in a press release.  Dongkuk Steel Mill vice chairman Chang Sae-wook fires up the blast furnace to start the operation of CSP Stee

The accumulated global sales of electric cars surpassed 1 million units for the first time last year, proving the eco-cars can take root as a segment of the global auto market, according to an annual research report released by the International Energy Agency, a leading global energy think tank, on June 6. IEA’s global EV outlook for 2016 showed the accumulated sales of electric cars across the world reached 1.26 million units last year.  Kia Motors’ Soul EVs are lined up for charging in Seoul.

[THE INVESTOR] The nation’s fair trade authorities said Thursday it would ease a key regulation to ban excessive expansion of conglomerates by raising the asset ceiling for its conglomerate watch list for the first time in seven years.In an economy-related ministers meeting held in Seoul, the Fair Trade Commission said it would boost the minimum asset criteria to 10 trillion won ($8.65 billion) from 5 trillion won. Fair Trade Commission in Sejong City (Yonhap)Mobile messaging giant Kakao and bio

POSCO Energy, the energy business arm of steel-making giant POSCO, is suffering dwindling profits unable to withstand the business slowdown, raising concerns over marking its first ever net loss this year, according to an industry source Wednesday. “The country’s largest LNG power producer faces earnings cliff as its entire businesses are mired in a slump. When the downward trend continues, it is highly possible for the energy giant to post its first net loss in its 47-year history,’’ an industr

Performance cars are among the highlighted themes that luxury German carmakers, including BMW, Mercedes-Benz and Audi, have been promoting at the 2016 Busan Motor Show, which kicked off June 2 in Busan.Audi unveiled the “new Audi R8 V10 plus” and “new Audi A6 all-road Quattro” for the first time in Korea, both of which are revamped performance-driven models offering driving pleasure. A driving shot of the new Audi R8 V10 plusThe new Audi R8 V10 plus, the higher trim option of Audi’s two-seater s

Mass market auto brands like Chevrolet of General Motors and Hyundai of Hyundai Motor are paying keen attention to growing demand for performance cars that are designed for speed and have affordable prices in Korea as part of their new market development efforts. Luxury foreign brands such as BMW and Mercedes-Benz as well as super car brands including Porsche and Lamborghini have dominated the performance car market for years.2016 Chevrolet Camaro of General Motors“The performance car market is

BUSAN – Environmentally friendly cars, including hybrid, plug-in hybrid and pure electric vehicles, were one of the most common themes that domestic and foreign automakers promoted at the 2016 Busan International Motor Show, which on Friday opened to the public at BEXCO in Busan for a 10-day run until June 12. This direction was expected as regulatory authorities are trying to reduce benefits offered to diesel car owners to cut emissions and improve air quality.  Visitors and the press look at t

BUSAN -- A representative from the Korean unit of emissions-rigging scandal-marred German carmaker Volkswagen said the company is set to submit software to the Korean Ministry of Environment to fix about 125,000 affected vehicles, a critical step to push for its recall plan here.“The software will be presented in the near future (to the ministry). Once the software is tested and approved by the ministry as planned, we expect the recall can start this summer,” Volkswagen Korea CEO Thomas Kuehl to

BUSAN - Genesis, the luxury brand Hyundai Motor created last November as an independent brand with the first model G90, unveiled second model G80 and its sport version G80 Sport for the first time at the media preview day for the 2016 Busan International Motor Show on Thursday. The G80 is a redone version of the Genesis DH luxury sedan from Hyundai Motor.  Manfred Fitzgerald (right), head of the Genesis brand, and Luc Donckerwolke, head of the design center for Genesis, pose with the G80 after t

The nation’s outbound shipments, a key pillar for economic growth, continued to fall in May compared to the same period a year ago, extending their longest year-on-year monthly fall to 17 months, according to data from the Ministry of Trade, Industry and Energy on Wednesday. “Despite the continued fall in exports, the decline trend slowed last month,” the ministry said in a press release. Exports stood at $39.78 billion last month, down 6 percent from the same period a year ago.The on-year month

The founders of many South Korean conglomerates have led dramatic lives, with resemblance to the domestic economy rising fast from the ashes of the Korean War.One thing that the business tycoons have in common is the culture of pursuing fast growth, which has contributed to the nation’s rapid rise. Their growth obsession, however, sometimes ends in tragedy. The latest conglomerate leader to suffer a freefall is STX Group founder and former chairman Kang Duk-soo. Former STX Group chairman Kang Du

PYEONGTAEK, Gyeonggi Province -- About 400 Rexton W -- midsize sport utility vehicle of Ssangyong Motor -- lined up for shipment Monday to Peru’s capital at a pier of Pyeongtaek Port, Gyeonggi Province.  Officials from Ssangyong Motor, KOTRA and POSCO Daewoo celebrate the loading of the carmaker’s midsize Rexton SUV-based police cars to the ship heading for Lima, the capital city of Peru, at Pyeongtaek Port, Gyeonggi Province, on Monday. The shipment is part of the carmaker’s supply deal for the