South Korean retail giant E-Land Group said Monday that it plans to open its first shopping mall in mainland China later this year in a joint venture as part of its strategy to tap deeper into the world's biggest market. E-Land Group and Malaysia-based Parkson Group have agreed to establish a joint venture and open "Parkson-New Core Mall" in Shanghai in November.  The South Korean company said it will be in charge of management of the joint venture, with a 51-percent share.   Parkson Group is on

Lotte founder Shin Kyuk-ho, whose mental and physical health have emerged as the center of focus amid a succession feud between his two sons, was diagnosed with Alzheimer's disease a few years ago, sources said Monday, a key factor which could impact the high-profile family dispute as the two sides are sparring to win favorable shareholders.  Sources at Lotte, the country's fifth-largest conglomerate, said that Shin was diagnosed with the condition that is known to incur memory impairment and de

Shin Dong-bin, the chairman of Lotte Group in South Korea, has been registered as the head of an investment unit in Japan that is believed to be at the apex of the conglomerate's complex ownership structure, data showed Thursday.The documents issued by the Japanese justice ministry showed that Shin was registered as the chief executive of 10 subsidiaries of the investment unit, dubbed "L Investment Company," as of July 31.Previously, the investment affiliate was headed by Lotte founder Shin Kyuk

South Korea's top mobile messenger operator Daum Kakao Corp. said Wednesday it has opened an education center in Vietnam to provide information technology courses for the mentally handicapped.The company said the education center in Hanoi aims to narrow the digital divide in the country in cooperation with the Korea International Cooperation Agency."While employers demand handicapped jobseekers have ICT capabilities, the education infrastructure (in Vietnam) is poor," Daum Kakao said, adding it

E-Mart Inc., South Korea's largest discount grocer, said Wednesday it aims to end the restructuring of its Chinese business and focus on improving it, but skeptics remained negative on the company's operations in China.The retail giant, which once operated as many as 27 branches in the country, has been shutting down stores in the past five years, spurring speculation it may even exit from the Chinese market."With the Aug. 3 closure of a branch in Shanghai, there will be no additional shutdowns

Hana Financial Group Inc., South Korea's third-largest banking group by assets, is rolling up its sleeves to begin the process of merging its two flagship banks in earnest next week, a company official said Wednesday.Hana Financial has tried to merge Hana Bank and the Korea Exchange Bank since it acquired the KEB from U.S. buyout fund Lone Star in 2012. Its efforts have dragged on for years as the KEB had strongly opposed the merger until recently, citing its earlier promise to remain independen

South Korea's Samsung Electronics Co. ranks as the most reputable technology company in the United States, a report showed Sunday, on the back of its strong products and services appealing to American consumers.  Samsung, the world's largest smartphone maker, has topped such tech peers as Microsoft, Google and Intel in terms of products and services, citizenship and governance, according to the report by U.S.-based corporate appraiser Reputation Institute. Samsung ranked eighth last year.     He

A U.S. hedge fund, opposing a proposed merger of two Samsung Group units, has filed an appeal against a Seoul court's dismissal of its request to block the deal, the latest in a series of legal rows unfolding against South Korea's top conglomerate over the high-profile merger.   Nexus, a Seoul-based law firm representing Elliott Associate L.P., submitted a notice of appeal Friday to the Seoul Central District Court, according to the court.    The objection came as the hedge fund has been seeking

Samsung Electronics Co. is presumed to be putting more focus on its latest smartphone, the Galaxy S6 Edge, the variant of the Galaxy S6, documents showed Thursday, as it won a trademark for the "S6 EDGE+" earlier this week.  According to the documents posted by the United States Patent and Trademark Office, Samsung Electronics has won the trademark, which indicates that the South Korean tech giant may roll out an updated edition of the quirky flagship smartphone that has drawn keen attention fro

South Korean confectionery giant Paris Baguette said Wednesday it has opened its second Paris store in the city's Opera district, a move that comes as the company is stepping up its overseas expansion.  The opening comes roughly 11 months after it opened its first Paris store in the Chatelet district of the French capital, which is in the vicinity of key tourist attractions, such as Notre Dame Cathedral and Louvre Museum.  "We opened our second branch in France at an earlier-than-expected schedu

Cheil Industries Inc., the de facto holding company of the country's top conglomerate Samsung Group, pledged Tuesday to deliver more dividends to shareholders, as it seeks to convince investors ahead of a crucial shareholders meeting for a proposed merger with the group's construction arm.  The company at the top of the group's cobweb-like governance structure also promised to set up a committee tasked with boosting shareholders value and improving governance after its 8.9 trillion-won ($7.92 bi

SEOUL (Yonhap) – South Korean confectionery maker Orion Corp. said Thursday it has submitted a bid for Homeplus, the local unit of British retailer TESCO."(We) have submitted a preliminary bid for the Homeplus acquisition to the potential seller," the company said in a regulatory filing posted after the stock market closing. Local media reported that private equity firms, such as Affinity Equity Partners, Carlyle Group and local buyout fund MBK Partners have also submitted bids to buy the countr

KB Financial Group Inc., South Korea's No. 2 banking group by assets, said Friday it plans to wrap up its acquisition of LIG Insurance Co. next week in a move that is anticipated to bolster its non-banking profit.KB Financial said in a statement that it plans to close the deal in a temporary shareholder meeting scheduled for June 24 and rename the insurer KB Insurance.The plan comes after the U.S. Federal Reserve Board approved the group the right to operate as a financial holding company in the

Lawyers for Samsung C&T Corp. and a U.S. hedge fund clashed in court Friday over a plan to merge the builder with another key affiliate of Samsung Group, with both sides sticking to their guns over the controversial move.The high-profile court battle came as Elliot Management applied for two court injunctions to block a May 26 offer by Cheil Industries Inc., Samsung's de facto holding firm, to take over Samsung C&T for 8.9 trillion won ($8.06 billion), claiming the deal is "unlawful and goes aga

Apple Inc.'s iPhone has topped a customer satisfaction list for smartphones in South Korea, trumping Galaxy smartphones made by archrival Samsung Electronics Co., a report showed Thursday. The U.S. smartphone maker garnered 759 marks in terms of product satisfaction by local consumers at the end of 2014, according to the biennial report by Seoul-based Consumer Insight. Samsung Electronics was even beaten by its smaller home rival LG Electronics Inc., placing third with a score of 580. LG gained