Smooth transition?
Doodan leader-designate unproven in management skills Korea’s mighty family-owned conglomerates will always talk about who is next in line to lead what they continue to see as family businesses. Doosan Group, which is continuing its transformation from a company reliant on consumer goods to a power in heavy industry and machinery, appears to have picked […]
Korea’s household credit dips in first quarter
Korea’s household credit dipped in the first quarter due to a drop in demand for fresh loans and people cutting back on spending, the central bank said Thursday. Household credit totaled 911.4 trillion won ($774.5 billion) as of the end of March, down 500 billion won from a record high of 911.9 trillion won tallied […]
CEOs pick favorite wines to give, receive and drink
For some businessmen, wine is much more than just fermented grapes. Doubling as a drink and status symbol, it tends to go hand in hand with doing business, providing a delightfully disarming charm to conversations between corporate suits and bringing out the best in the “three-fork” dinner in front of them. It’s not entirely absurd […]
Shilla, Lotte in expansion mode
Hotels rush to build biz hotels for surging foreign tourists Lotte, Shilla and other hotel operators affiliated with large business groups have gone into expansion mode in recent years due to the surging number of Japanese, Chinese and other foreign tourists. They have renovated existing hotels to create more rooms or build low-priced business hotels […]
BMW aims to lead electric car market
Drivers who watched last year’s Hollywood blockbuster “Mission Impossible: Ghost Protocol” probably dreamt of owning a BMW i8, with its sleek, futuristic appearance. Alternatively, an increasing number of people concerned about their budget want electric cars as gas prices continue to rise. Soon, a combination of the two ideals will be available after the German […]
Alibaba Group to become Yahoo’s major shareholder
In this Aug. 11, 2005, file photo, a man walks past a screen displaying the Yahoo and Ali Baba.com logos before a joint news conference by the companies at the China World hotel in Beijing. (File Photo=AP/NEWSis) HANGZHOU, May 21 (Xinhua) — The Alibaba Group, a leading Chinese e-commerce company, announced Monday it will spend […]
China to import more makgeoli, kimchi from Korea
Japanese and other Asians have become fond of makgeoli, or rice wine, and kimchi, spicy pickled cabbage, in recent years in line with the growing popularity of “hallyu,’’ or the Korean wave. This has provided local makgeoli and kimchi producers with lucrative business opportunities to go beyond the national border and secure new customers in […]
SK Telecom showcases LTE technology at expo
YEOSU __ SK Telecom, the country’s largest mobile carrier, is looking to use the Yeosu Expo to showcase its advancements in fourth-generation Long-Term Evolution (LTE) networks and technology. The company’s “We _ Cloud’’ exhibition, which highlights the ubiquity of the Internet moving toward mobile devices, is already one of the most popular draws at the […]
Shaky financial market
KOSPI dips below 1800 on Europe worries This week was a nightmare for Korea’s financial markets, which fell sharply due to renewed fears over another economic downturn fueled by the Greek crisis. In the coming weeks, investors are expected to go through a roller coaster ride. The Korea Composite Stock Price Index (KOSPI) sank further […]
Chaebol under siege
Conglomerates targeted in lame duck presidency As the economy turns from bad to worse with income polarization widening and inflation soaring, large family-controlled business groups, known here as chaebol, have become public enemy No.1. Despite the prolonged global economic downturn, Samsung and other leading conglomerates have earned record overseas profits through exports of electronics, cars […]
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