Old habits die hard
New-look Nonghyup fails to impress marketsIn introducing a financial holding company built on its banking and insurance services in March, the National Agricultural Cooperative Federation (Nonghyup) declared it was opening a new era. In a lavish ceremony to mark the occasion, Nonghyup Chairman Choi Won-byung talked in length about how there was a grand future […]
Suprema comes back in big way
Korean biometrics company Suprema, which leads in fingerprint recognition technology, is angling for further growth. The firm can now see an end to worries over a patent lawsuit in the United States that has plagued it for the past few years. “The legal action is practically done. We do not think that the initial rules […]
KT&G cigarettes massively smuggled into Pakistan
Billions of KT&G’s Pine brand cigarettes have long been smuggled into Pakistan, most likely from the neighboring Afghanistan, according to multiple sources. The amount of smuggled Pine cigarettes is so substantial that it prompted the Pakistani authorities to formally complain to the Korean government and KT&G last year, according to internal documents obtained by The […]
Making headway in world scene
BMW Korea has emerged as a frontrunner of the German-based automaker’s units across the world not only in terms of sales but also in terms of corporate social responsibility (CSR) programs. BMW Korea CEO Kim Hyo-joon said that the global organizations of BMW are ready to copy the Seoul-based company’s CSR arm, the BMW Korea […]
Yeosu Expo officially begins
The 2012 Yeosu Expo, which will run for 93 days until Aug. 12, officially kicked off Saturday morning. The official opening ceremony was held in front of the digital gallery of the exhibition hall under the presence of the expo committee and Yeosu city officials. At the opening ceremony, the honor guards made a solemn […]
Empty talk
Big firms playing dumb to challenges of aging population A workforce aging in dog years has been fueling apocalyptic talk about the future of Korea’s economy. Nonetheless, the country’s biggest corporations continue to display a maddening inability to think beyond the next quarter. Policymakers like Strategy and Finance Minister Bahk Jae-wan are frequently expressing alarm […]
Hyundai set to beat Volkswagen in market cap
As far as market share is concerned, Hyundai Motor Group is the world’s No. 5 player. But when it comes to market capitalization, it is closing the gap on the runner-up spot. As of the end of Tuesday, the combined market capitalization of Hyundai Motor Group’s top two brands ― Hyundai Motor and Kia Motors […]
$100 billion encounters
KB chief to meet Gates, Buffett at CEO summit KB Financial Group Chairman Euh Yoon-dae will discuss international management trends and economic issues next week along with about 100 guests, which will include two of the world’s three wealthiest people. The nation’s top financial group said Wednesday that Euh will leave for Seattle to attend […]
Still under construction
With 2 days to go before opening, Yeosu Expo unprepared YEOSU — With the grand opening of the Yeosu Expo slated for Saturday, exhibition halls and other facilities are unfinished, littered with tools, electric cords and others, casting doubt on whether the international event’s long-awaited opening will take place on time. “The expo will have […]
Misfortunes strike Naver
NHN, the Internet search company that runs Naver, is weathering a sea of troubles, including corporate fund embezzlement and a massive brain drain. The two factors indicate that the firm’s management is losing its grip, experts said. According to NHN Tuesday, one NHN official is suspected of embezzling about 3.6 billion won. NHN reported the […]
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