Samsung Electronics chairman Lee Kun-hee owns the most expensive houses among the nation’s top 50 business leaders, data showed Monday. Lee owns three homes in Seoul’s Itaewon, Samseong and Seocho areas, whose combined value stood at 26.31 billion won ($24.32 million) last year, according to Chaebul.com, a conglomerate-tracking website. Lee is followed by Shin Choon-ho, chairman of food giant Nongshim Group, who has two houses together worth 8.57 billion won. The two top owners, Lee and Shin, we

Samsung Card Co. said Monday it posted a net loss of 2.6 billion won ($2.4 million) in the fourth quarter of 2012 due to a decrease in commission income.From October through December, the nation’s No. 2 credit card firm made sales of about 7.95 billion won, down about 7.4 percent from the same period in 2011.The firm’s operating loss amounts to about 3.1 billion won, a sharp contrast to the 73 billion won operating profit posted a year earlier. A decrease in commission rates caused the loss, Sam

Incheon International Airport Corp. said Monday that its CEO Lee Chae-wook has offered to resign before his official term expires in September. “He may have decided to offer an opportunity for his successor to oversee the planned expansion project of the airport from the beginning,” said an airport official. Lee, the former Asian chief of General Electric, took office to lead the nation’s main gateway in September 2008. He has been reappointed twice on his strong performance. Incheon Airport pla

POSCO, the nation’s top steel giant, launched an English-language corporate blog (globalblog.posco.com) Monday to strengthen two-way communication with global stakeholders, the company said. POSCO developed the English version of Hello POSCO, the first corporate blog run in Korean from September last year, in a bid to update corporate news and activities globally and to open communication with visitors from around the globe. The steel giant also established a corporate page on Linkedin.com, a U.

South Korea’s leading carmakers Hyundai Motor Co. and Kia Motors Corp. ranked fourth in the British automobile market last year on the back of brisk sales, industry data showed Monday.According to the data, their combined sales soared 20.9 percent on-year to 140,914 vehicles in 2011 from 116,515 units sold a year earlier.The market share of Hyundai and Kia, the flagship companies of Hyundai Motor Group, climbed one notch to fourth place with 6.89 percent, beating Germany’s BMW AG with 127,530 un

Hana Financial Group Inc. said Monday it plans to buy an additional 40 percent stake in the Korea Exchange Bank in April by swapping shares, taking firmer control of South Korea’s No. 5 lender.Hana Financial completed the deal to buy a 51.02 percent stake in KEB from Lone Star Funds for 4.69 trillion won ($4.34 billion) in February 2012, making it Korea’s No. 3 banking group. It also bought further stakes to raise its holdings to 60 percent last year.The group said it plans to buy the remainder

Backing her earlier pledges to foster small businesses and promote economic equality, President-elect Park Geun-hye urged the Korea Trade-Investment Promotion Agency to prioritize its support for the overseas expansion of small and medium enterprises.“Small and medium-sized companies are often discouraged from reaching out to foreign markets because of the lack of information and local expertise,” Park said during the presidential transition committee’s economic forum late on Sunday.She pointed

Dong-A Pharmaceutical’s controversial plan to put its cash cow energy drink business Bacchus under an unlisted firm wholly owned by a new holding company passed the shareholders’ meeting on Monday.Present shareholders of 73 percent of the firm’s stake approved Dong-A’s plan to split itself into two business corporations that make prescription drugs (Dong-A ST) and over-the-counter drugs (Dong-A Pharm), and set up a holding company (Dong-A Socio Holdings) that holds a 100 percent stake in Dong-A

The next chief financial regulator is expected to push forward privatization of Woori Financial Group amid lawmakers’ movement to retrieve taxpayers’ money, which was injected into the group.As Kim Seok-dong, chairman of the Financial Services Commission, recently expressed his intention to resign, the incoming Park Geun-hye administration is poised to appoint his successor as the chief regulator.Kim had maintained his position that Woori Financial should be sold through a “block deal,” under wh