CFO takes pride in employees’ daily efforts, calls for policy support for businesses’ ESG moves

From McDonald’s to Samsung, the septet’s strong presence on Twitter has companies line up to collaborate with them

After South Korea closed a deal with Pfizer to obtain additional doses of its COVID-19 vaccine, Samsung Electronics’ de facto chief, Lee Jae-yong, is receiving much attention in local media for his reported role in facilitating talks between the two sides. Seoul announced Friday that it had secured enough additional vaccine for 20 million people in a deal that soothed public worries over a shortage. Adding to those worries were the reported side effects associated with the AstraZeneca

Former National Tax Service Commissioner Kim Hyun-jun has been tapped as the new chief executive officer of the Korea Land & Housing Corp. The position has been vacant since December amid a land speculation scandal involving employees of the state-run company. While Kim has no direct experience in housing or construction, the appointment is seen as a move by the government to overhaul the state housing developer and help it regain the public’s trust. Several LH employees are curren

Doosan Infracore Co., South Korea's top construction equipment maker, said Sunday it has secured a deal to supply 102 excavators and other equipment to Qatar. The value of the deal was not revealed. With the deal with a Qatari construction company, Doosan Infracore will be able to secure the No. 1 position in the construction sector in the Middle Eastern country. Doosan Infracore's market share there stood at 23 percent last year. Doosan Infracore will be able to clinch a 10 percent share in

The scions of Samsung Group, South Korea's top conglomerate, are likely to unveil a plan this week on how to finance their massive inheritance tax, which includes the donation of late group chief Lee Kun-hee's art collections. The senior Lee, who was South Korea's richest man, left more than 22 trillion won ($19.6 billion) worth of assets, including stocks valued around 19 trillion won. Lee, who died in October last year at age 78, was survived by his wife, Hong Ra-hee, only son, Jae-yong, and

SsangYong Motor Co. is seeking to cut some 10 executive jobs as part of its restructuring efforts after being put under court receivership, an industry source said Sunday. SsangYong Motor has been in the debt-rescheduling process since April 15 as its Indian parent Mahindra & Mahindra Ltd. has failed to attract an investor amid the prolonged COVID-19 pandemic and worsening financial status. According to the source, SsangYong Motor has been considering cutting about 30 percent of its 33 e

At the start of the year, Devsisters Corp. was a minor mobile game publisher struggling to turn around, crossing its fingers over the launch of its latest installment of the casual endless runner series Cookie Run. Three months later, "Cookie Run: Kingdom" has dominated South Korea's mobile app store charts, surpassing 10 million downloads. The game's March sales on local app stores are estimated at over 20 billion won ($17.9 million), ranking third after behemoth hardcore games Line

Sales of biosimilars developed by Samsung Bioepis in Europe reached $205.1 million in the first quarter this year, the South Korean drugmaker said Friday. Sales of Samsung Bioepis’ three major autoimmune biosimilars -- Benepali, Flixabi and Imraldi -- increased 3.9 percent on-quarter but decreased 6.3 percent on-year, the company said, citing an earnings report of its US partner Biogen released Thursday, local time. Samsung Bioepis is a joint venture between Biogen and Samsung Group&rs

South Korean firms that are heavily reliant on exports should come up with diverse ways to cut down on their logistics costs amid a prolonged surge in ocean freight charges, a report suggested Friday. Ocean freight rates are rising and could continue for a long time against the backdrop of unstable supply and demand for empty containers and a rise in demand due to revenge consumption, the Institute for International Trade warned in its report. To achieve a competitive price edge, exporters ca

South Korea’s largest brewer, Oriental Brewery, has tapped veteran actress Youn Yuh-jung as the new brand ambassador for its flagship beer brand Cass, the company said Friday. In a commercial, Youn, the first Korean woman to be nominated for an Academy Award and a strong contender for best supporting actress, discusses opening herself up to form relationships with people as she promotes the beer. The company said Youn, “who is not afraid to speak her mind,” is an inspiration

Hanwha Corp. said Friday that it will issue green bonds for the first time. According to the Hanwha Group holdings firm, it will file a securities declaration with the Financial Supervisory Service on Monday and conduct a book-building session Thursday, seeking to issue green bonds worth up to 150 billion won ($134 million) on May 7. Green bonds are specifically earmarked to raise money for climate and environmental projects. Hanwha Corp. last month launched an environmental, social and cor

South Korea's major business lobby groups plan to submit to the government a letter recommending the pardon of Samsung Electronics Vice Chairman Lee Jae-yong, the de facto leader of Samsung Group who was convicted of bribery, sources said Thursday. The five major lobby groups -- the Korea Chamber of Commerce and Industry, the Korea Enterprises Federation, the Korea Federation of SMEs, the Korea International Trade Association and the Federation of Middle Market Enterprises of Korea -- have rea

Samsung Electronics chief Lee Jae-yong on Thursday denied all charges leveled against him during his first trial hearing on alleged irregularities surrounding his ascension to the helm of Samsung Group. Attending the session held at the Seoul Central District Court, Lee pleaded not guilty when he was asked by the presiding judge to respond to the charges brought against him by prosecutors which include stock market manipulation, illicit trading and breach of trust. “I cannot admit (to

Automakers attribute improved profitability to global SUV demands