Members of major conglomerate owner families generally become executives in their mid-30s, and assume leadership roles sometime in their early 40s, a report released Wednesday by a local corporate tracker showed. Leaders Index analyzed the careers of 199 members of owner families running South Korea's 100 leading conglomerates, who are either the chairman or vice chairman of their group, or a president of an affiliate company. In total, there are 827 members of owner families currently work

Samsung Medical Center has carried out the first successful uterus transplantation in South Korea. During the surgery in January this year, the multidisciplinary team were able to transfer the uterus to a 35-year-old woman with Mayer-Rokitansky-Kuster-Hauser Syndrome. MRKH is a rare disorder, which affects about 1 in 5,000 females at birth, characterized by an underdeveloped or absent uterus. A uterus transplant gives women without functioning wombs -- such as those with MRKH -- the opportunity

Family members of Samsung Group, South Korea’s biggest conglomerate, are selling stakes worth some 2.57 trillion won ($1.97 billion) to pay their inheritance tax bill, according to a regulatory filing on Monday. Hong Ra-hee, the widow of the late former Samsung Group Chairman Lee Kun-hee, and her two daughters, Lee Boo-jin and Lee Seo-hyun, signed a trust contract with Hana Bank to dispose of stakes worth about 2.57 trillion won combined, on Oct. 31. The Samsung heirs began their five-year

Members of Samsung Group's owning family are set to sell nearly 2.6 trillion won ($2 billion) worth of shares in Samsung affiliates to cover inheritance taxes, a regulatory filing showed Sunday. Since the death of late Samsung Chairman Lee Kun-hee in October 2020, his family members have been paying inheritance taxes in installments for the assets inherited according to a five-year plan. The total inheritance tax amounted to 12 trillion won. According to the regulatory filing with the Fin

Deutsche Bank said Sunday that it will inject 150 million euros ($160 million) into its Seoul branch as part of its investment plan for the Asian market, with Korea as a strategic foothold. The German bank's decision to allocate additional capital to its Korean business underscores its confidence in the stability and growth potential of the market. "This additional capital, along with our recent reentry into the local debt capital market, will enable us to better support our clients�

Samsung Group is a "massive aircraft carrier" and so it needs a control tower for better efficiency and unity, the chief of the tech giant's compliance committee said in an interview with a local news outlet on Aug. 23. "A small sailing boat does not need a control tower, but Samsung is a giant aircraft carrier. Unless the company’s different divisions completely divide to stand on their own, the lack of a control tower can lead to problems in efficiency and unity,&rd

The new chairperson for the Federation of Korean Industries vowed that the business lobby group would prevent government-business collusion and push for a transparent corporate culture to “clean up the dark past” of a massive influence-peddling scandal it was embroiled in 2016. In its ad hoc general meeting held Tuesday, the lobby group appointed Ryu Jin, chairman of Poongsan Group, as the new chairperson of the FKI. The meeting was an arena where it announced the kick-starting of th

South Korea’s top four chaebol groups -- Samsung, SK, Hyundai Motor and LG -- are likely to rejoin the Federation of Korean Industries, the disgraced business lobby group that has remained practically defunct for years following the revelation of its role in a massive influence-peddling scandal in 2016. According to industry sources on Monday, key affiliates of the nation’s top conglomerates recently held board meetings to approve them rejoining the FKI. The latest decision comes a

삼성SDI가 스텔란티스에 이어 제너럴 모터스(GM)와 인디애나에 두 번째 배터리 합작공장 설립에 나서면서 현지 내연기관 자동차 중심의 노동력을 첨단 제조 인력으로 전환하는데 중추적인 역할을 할 것으로 기대된다. 브래들리 체임버스 인디애나주 상무부 장관은 12일 코리아헤럴드와의 전화 인터뷰에서 “인디애나주에는 GM, 토요타 등을 포함한 5개 자동차 OEM사 공장의 풍부한 노동력이 있지만 대부분 내연기관 자동차 제조 인력에 치중돼 있다”며 “그들을 전기차 배터리 전문 인력으로 다시 양성해내는 과정이 필요한 상황”이라고 설명했다. 그는 또 “삼성SDI와 GM의 합작공장이 현지에서 새로운 종류의 고임금 제조 일거리를 제공함으로써 자동차 산업에서의 청정 에너지 전환을 앞당길 것”이라고 덧붙였다. 체임버스장관은 인디애나 주정부 역시 아이비 테크(Ivy Tech · 미국 전역에서 가장 거대한 규모의 인디애나 지역 대

Samsung SDI’s recent joint venture deal with General Motors to construct an electric vehicle battery cell manufacturing plant in Indiana is expected to play a pivotal role in fostering a more advanced manufacturing workforce. “We’ve got five auto OEMs (original equipment manufacturers) (including GM and Toyota) in Indiana that give us tons of auto (workers). However, they are mostly focused on working on the production lines of internal combustion engine cars,” Indiana&rs

More than a year has passed since Samsung's financial affiliates launched the comprehensive service app Monimo together, but unfortunately, it has fallen short of market expectations. Under the brand Samsung Financial Networks, Monimo offers services from four Samsung financial affiliates: Samsung Life Insurance, Samsung Fire & Marine Insurance, Samsung Securities and Samsung Card. With these affiliates' apps having a total user base of over 25 million — estimated without ove

A man of Korean nationality, acquitted on charges of murdering his pregnant wife of Cambodian nationality, has won another lawsuit against an insurance company. The Seoul High Court ruled in favor of the plaintiff in the second trial against Samsung Life Insurance filed by a man surnamed Lee, Thursday. The second trial court ruled that Samsung Life Insurance should pay about 202 million won ($155,000) to Lee and 60 million won to Lee's daughter as compensation for delayed death insurance an

Global conference to feature new Sustainable Business Think Tank as it kicks off 20-city series of regional events that bring finance leaders together to collaborate on how to drive digital transformation LUCCA, Italy, May 15, 2023 /PRNewswire/ -- Wolters Kluwer, a global leader in professional information, software solutions and services, will soon kick off its annual CCH Tagetik inTouch Global User Conference, taking place in Lucca, Italy, May 23-25.  The conference will encourag

South Korean stocks opened lower Wednesday on renewed fears over the US banking crisis following the auction of a US regional bank ahead of the Federal Reserve's policy meeting this week. The benchmark Korea Composite Stock Price Index slid 13.66 points, or 0.54 percent, to 2,510.73 in the first 15 minutes of trading. Wall Street ended the session down overnight as uncertainties arose over the financial system following the sale of the First Republic Bank to JPMorgan Chase & Co., led by

Samsung Life Insurance announced on Thursday that it has acquired a 20 percent stake in Meridiam SAS, a French private equity firm focused on infrastructure investment. With this investment, Samsung Life has become the second-largest shareholder of the French company. "As Meridiam has diverse investment experience and expert executives in the infrastructure sector, we believe that it is an adequate strategic partner for Samsung Life Insurance's global alternative investment expansion,