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Sat, February 24, 2024 | 03:02
SK turns 64 without much fanfare
SK Group will mark its 64th anniversary with little fanfare Saturday as its Chairman Chey Tae-won has been under a prosecution investigation over the group’s donations to two controversial foundations, according to company officials Friday. In the past, heads of group affiliates and other top managers have gathered to celebrate, unveiling their plans for the company. But this time, Korea’s third-largest family-controlled conglomerate wants to keep things low key as the prosecution moves to indict Chairman Chey, along with former President Park Geun-hye and Lotte Group Chairman Shin Dong-bin....
Kumho Tire wins design award for 6th consecutive year
Kumho Tire has won a prestigious international design award in Germany for the sixth consecutive year. Korea’s leading tiremaker said Thursday that its CRUGEN HP 71 _ a premium, high-performance tire for sport utility vehicles _ received the Red Dot Design Award 2017 in the product design category The tire has earned much recognition for its design excellence since hitting th...
Caffe Bene hit hard by unprofitable US unit
Caffe Bene failed to turn things around in 2016, posting an operating loss for four consecutive years, as its money-losing U.S. unit weighed heavily on its bottom line, company officials said Wednesday. Early last year, company CEO Choi Seung-woo had pledged to make one of Korea’s leading home-grown coffee franchises profitable again, but it turned out to be a hollow slogan. ...
Diageo, Kakao join hands to promote Guinness
Diageo Korea has joined hands with Daum Kakao to promote the premium beer brand Guinness, it said Wednesday. The Korean unit of the British premium whisky maker has begun offering a 50 percent discount coupon to customers ordering special meals paired with Guinness at its 30 affiliated restaurants in Itaewon and other areas across Seoul. The meals are available beginning Wedn...
Planting trees on Mt. Bukhan
Kumho Tire Executive Director Lee Ho, right, plants trees with other company employees on Mt. Bukhan in northern Seoul, Tuesday, a day before Arbor Day, which falls on April 5. The tire manufacturer has been part of the Seoul Metropolitan Government’s tree-planting campaign for years. / Courtesy of Kumho Tire
E-Land forced to delay listing of retail unit
E-Land Group has decided to push back its plan to take a retail unit public, as the local bourse operator remains reluctant to let the financially strapped company raise money on the capital market. In addition to the dire financial health of the mid-tier fashion-and-retail business group, its controversial mistreatment of part-time workers has made the Korea Exchange (KRX) l...
Golden Blue to claim top spot by 2020
Golden Blue has been defying the market norm over the past few years, posting double-digit sales growth in Korea’s rapidly-shrinking whisky market. The domestic whisky distributor has been able to outperform its larger foreign rivals as it has introduced lower-alcohol products tailored to the taste of local consumers amid a wellbeing trend, according to the company CEO, who a...
Large firms downsizing workforce
Samsung and other large business groups have been downsizing their workforces over the past few years as part of cost-cutting to cope with the prolonged economic downturn, analysts said Sunday. They say the trend will likely continue this year and beyond against an increasingly uncertain business outlook, as big firms not only reduce the number of employees but also refrain from hiring new workers. This will make things more difficult for hundreds of thousands of job seekers looking for well-paying jobs at chaebol affiliates. According to CEO Score, a corporate information provider, 253 comp...
Korea brings China's THAAD retaliation to WTO
Korea has filed a formal complaint with a World Trade Organization (WTO) panel against Beijing for its economic retaliation against Seoul’s decision to deploy a U.S. anti-missile system here. The Korean Agency for Technology and Standards (KATS), affiliated with the Ministry of Trade, Industry and Energy, said Sunday that it raised issues with China’s trade barriers against K...
KCCI strengthens role of advocating conglomerates
The Korea Chamber of Commerce and Industry (KCCI) is moving to more actively represent the interests of family-controlled large business groups to fill the void left by the scandal-hit Federation of Korean Industries (FKI). The country’s largest business association with 160,000 member companies said Thursday that it will set up a “large business committee” to more effectivel...
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