Electronics maker pledges further greenhouse gas emission cuts, labor rights promotionLG Electronics vice chairman and CEO Koo Bon-joon called for the electronics maker to commit to the basics in its sixth sustainability report issued last month, the Seoul-based company said on Monday.“The most important principle for a company to maintain its sustainability is essentially to secure competence in

Chairman Lee says scandal prevalent throughout conglomerateEmployees at Samsung, the nation’s largest industrial group, are expected to face a conglomerate-wide shakeup as owner Lee Kun-hee was unable to shake his fury over the latest corruption scandal at a Samsung affiliate. “It seems that corruption is prevalent in all parts of Samsung,” was what Lee said on Thursday, a day after he said the co

LG Electronic launched its Cinema 3-D televisions at Ferrari World, the world’s largest theme park in Abu Dhabi on Monday to mark its foray into the Middle East and Africa, the Seoul-based company said Tuesday. The electronics maker is now aiming for a 40 percent market share of the 3-D industry in the region. “We believe that our products will be able to offer distinguished, next generation 3-D t

A tripartite tie-up between multinational companies, conglomerates and small- and mid-sized firms is one way the Korean government can attempt to cope with the daunting task of leveling the corporate playfield, says the head of the Korean CEO’s Association of Multinational Corporations.“We may have the drive and means for helping these small- and mid-sized companies, but it can’t be done without a

Kumho Petrochemical Chairman Park Chan-koo was on Friday summoned by prosecutors over allegations that he created slush funds and gained illegal profit on the back of exclusive, internal information.The prosecution believes the slush funds may amount to up to 30 billion won ($27.7 million).Park, however, denied any wrongdoing, saying he would “clear everything” during the questioning session. Park

Koo tells staff to ceaselessly search for new opportunitiesLG Group chairman Koo Bon-moo touted the importance of creation and innovation, as the single most effective way to lead the market, the Seoul-based company said Thursday.“Constantly creating new things is the only way we can lead the markets,” Koo said at LG’s 19th session of the company’s gathering to spearhead innovative business held M

Ho-Am Foundation on Wednesday held an award ceremony to extend the Ho-Am Prize to four individuals and one institution for their contribution to improving human lives and promoting public welfare. This year’s prizes went to Professor Ha Taek-jip of the University of Illinois for science, Professor Thomas Lee of Standford University for engineering, Professor Augustine Choi of Harvard Medical Schoo

Samsung SDI, on Wednesday vowed to become a global energy firm catering to future needs for recyclable energy marking the official takeover of the solar battery business from its sister firm, Samsung Electronics. With the $147.6 million swap, SDI said it will target annual revenues of 13 trillion won ($12.1 billion) in 2015 and up to 35 trillion won in sales by 2020. More than half of the sales, a

LG Electronics is used to being No. 2. A powerful global electronics brand in its own right, the Seoul-based company has not made it to the highest of peaks. This seemed to be all right, however, as long it could rub shoulders with its top-tier rivals. But a raging “smart war” in the mobile industry changed all that, and LG Electronics is in bad shape in that sector. Koo Bon-joon, vice chairman an