Samsung Group will audit its financial units this month, including key affiliates such as its insurance arms following a scandal at another subsidiary, industry sources said on Monday.The move would mark the first audit on the financial units since 2003. The group’s auditing team will first review the business operations of Samsung Fire & Marine Insurance later this month, before a separate audit

Korean company asks U.S. commission to block imports of mobile devicesSamsung Electronics has taken another legal step in its strife with Apple Inc. by requesting that the U.S. International Trade Commission block the import of overseas-made iPhones, iPads and iPods into the U.S.Samsung’s complaint involves all “mobile electronic devices, including wireless communication devices, portable music an

Samsung Group denies involvement in bidding processCJ Group was selected Tuesday as the preferred bidder in the controversial race to acquire a sizeable stake in logistics company Korea Express. If all goes smoothly, the conglomerate will be on its way to achieving its long-term goal of creating Asia’s largest logistics company by 2015. Korea Express is likely to fetch up to 2 trillion won ($1.8 b

LG CNS on Tuesday signed an agreement with Busan to build the country’s first global data center as a joint effort between the private and public sector in the port city. The “Global Cloud Data Center” will be erected by December 2012 within Busan-Jinhae Free Economic Zone and will go down as the largest such facility, covering 133,000 square meters. “By combining the high-quality cloud services o

SK, ex-tax official under probe over suspected kickbacksNew light was shed on the problematic practice of former civil servants’ perks on the discovery that an ex-executive at the National Tax Service received sizeable paychecks from local companies.Lee Hee-wan, formerly head of the tax office’s investigative unit is suspected of receiving 3 billion won ($2.7 million) from SK Group’s affiliates fo

South Korea’s stock market is expected to continue its upward movement this week as investor worries over high energy prices may ease and outlooks for major economies could improve, analysts said Saturday.Still, anxiety remains that the debt crisis in Greece might hurt investor sentiment significantly and reverse the market course, they noted.The country’s key stock index, the KOSPI, gained 2.89 p

Work has started on the third phase of the Incheon International Airport expansion plan that will fuel growth of the key Northeast Asian transportation hub, the Incheon International Airport Corp. (IIAC) said Sunday.The state-operated corporation said that it picked blueprints for the airport’s second passenger terminal drawn up by a consortium led by Heerim Architects and Planners Co.It said the

Samsung Electronics may be penalized for obstructing an investigation by the Fair Trade Commission.Sources from the antitrust watchdog said the agency is considering penalties over an incident in March when employees of Samsung Electronics’ Suwon plant barred the commission’s investigators from entering the facility.The investigators had been dispatched to monitor the manufacturing price of mobile