The glass ceiling most certainly exists in corporate Korea, particularly in the financial sector, recent figures showed.Out of 61 registered executives at the nation’s 10 publicly run financial companies, director Roh Jeong-ran of the Korea Asset Management Corp. was singled out as the only woman, according to a government-run data system on publicly-operated firms on Monday. Further, since 2008, these 10 companies had hired 356 female executives, just one-quarter of the total. In comparison, th

Chinese-made imitation golf clubs were found being sold illegally on the Internet at up to eight times the original price, the Seoul Main Customs office said on Monday.The office said the clubs ― originally priced at 20,000 won ($18) each ― were being sold for 170,000 won in Korea after they were disguised as clubs manufactured in Japan or the United States. Up to 6.1 billion won worth of clubs were sold this way, officials said. Most of these products were sold by online retailers. One of the c

Mahindra and Mahindra Ltd. president Pawan Goenka, during a parliamentary hearing here on Monday, hinted that the company could start hiring back Ssangyong Motor workers on unpaid leave within the year.The rare appearance of a foreign executive at the nation’s audit session came amid still escalating tensions between Ssangyong and fired workers since a large-scale restructuring in 2009 before the carmaker was acquired by the Indian company. The Mahindra president said the company was considering

Group yet to clarify if it will keep stake in Renault SamsungSamsung Group has yet to reveal whether it will maintain its automobile brand partnership with Renault Group, while the French automaker dismissed the possibility that Samsung may dispose of its stake in Renault Samsung Motors.Should Samsung Card, a financial unit of the nation’s largest conglomerate, choose to sell off its 19.9 percent stake in Renault Samsung amid lackluster sales, the auto brand name would also change. Currently, Re

S&T Group, a local machinery and plant equipment manufacturer, said Monday that it had hosted a three-day field trip for a group of ambassadors to Korea from the Middle East on Oct. 3-5 to present its technology and production facilities. The ambassadors were Jordanian Ambassador Omar Barakat Mnawer Al-Nahar, Iraqi Ambassador Khalil Al-Mosawi, Saudi Arabian Ambassador Ahmad Y. Al Barrak and Kuwaiti Ambassador Muteb Saleh F Al-Mutoteh. During the field trip, the diplomatic officials visited the p

SK Telecom T.um, an exhibition center run by information technology company SK Telecom, said Monday that it launched an experience zone with devices using the latest technologies on display. Celebrating its fourth anniversary, the exhibition center went through a series of renovations to offer opportunities for its visitors to experience the latest long term evolution technologies and the newest solutions in education and medicine. The IT company also installed “Smart Robot,” one of the most pop

Philip Morris Korea Inc. on Monday opened its refurbished cigarette manufacturing factory in Yangsan, South Gyeongsang Province, the Korean unit of the international tobacco manufacturer said. The plant, which is equipped with raw material processing and packaging facilities, can produce 40 billion cigarettes per year, almost double that of the previous factory built in 2002. Philips Morris was the first multinational cigarette maker to have its own production line in Korea with an aim to better

Creating a business model that fits Korean environment is my final goal as the IK commissioner: Han Invest Korea chief Han Ki-won has vowed to focus on merger and acquisitions to help the government attain its yearly goal of attracting $15 billion in foreign direct investment.“Korea needs to step up its game and deliver differentiated services to foreign investors in order to attract more investment from them,” Han said in a recent interview with The Korea Herald. “For instance, we can work on t