Park Byeong-yeop, founder and vice chairman of Korea’s third-largest mobile device maker Pantech Corp., decided to leave the firm to take responsibility for sluggish business.He is the latest casualty among a list of so-called legendary businessmen after Woongjin Group founder Yoon Seok-keum and STX Group founder Kang Duk-soo, who had once garnered respect from office workers for their dramatic success stories.Starting his career as a salesperson at telecommunications device maker Maxon Electron

최문기 미래부 장관은 23일 코리아헤럴드와의 인터뷰에서 M&A (인수 합병) 거래소 설립에 대해 아직은 “시기상조”라고 밝혔다. 최 장관은 “벤처자금 생태계가 선순환 구조를 갖기 위해서는 M&A와 같은 중간 회수시장 역할이 매우 중요하다,”고 말하며 “하지만 국내 M&A 시장은 아직 성숙되지 않은 실정”이라고 밝혔다.M&A 거래소란 주식 거래소와 같이 기업의 정보를 공개해 기업의 판매와 구입이 가능한 거래 장을 지칭하는 개념이다. 최 장관의 발언은 ｢창업 → 성장 → 회수 → 재투자/재도전｣으로 이어지는 선순환 구조 중 중간 회수 역할을 하는 M&A 시장이 아직 미성숙 단계라는 뜻으로 해석될 수 있다.최 장관은 또한 “M&A 거래는 ‘비밀 유지’와 ‘정보의 신뢰성’이 매우 중요한 특징이 있어, M&A거래소 도입은 향후 M&A 시장의 성숙단계 등을 고려하여 신중하게 검토할 필요가 있다”고 자신의 의견을 밝혔다.거래소 대신 현재 중소기업청에서 2012년부터 M&A Info-Market이

Samsung Electronics held global media events for its flagship phablet Galaxy Note 3 and smart watch Galaxy Gear prior to the official worldwide release Wednesday. The electronics giant said it held a media event in Beijing Monday as part of Samsung’s global release of the new gadgets. Some Chinese news outlets predicted the success of the new Galaxy phablet, with one saying, “The new Galaxy lineups are all set to take on the Chinese market with a solid fan base of 8 million users.”Monday’s event

LG Electronics said Tuesday that it won for the first time a “water footprint” certification from an international product safety testing organization. The Korean electronics firm said its two washing machines WM8000HVA and WM8000HWA received the certification from Underwriters Laboratories, a safety consulting and certification company based in the United States. The recognition came after the firm completed a similar energy efficiency test of its washing machine lineup with Det Norske Veritas,

Korean mobile carrier KT chairman Lee Suk-chae stressed the importance of collaboration between governments and private firms to help developing nations improve their economies at the eighth meeting of the Broadband Commission for Digital Development in New York on Saturday. “KT’s joint establishment of an LTE firm with the government of Rwanda will be an exemplary model available for developing nations that seek cooperation of private firms for social and economic development,” Lee said in a sp

Apple’s new iPhones released last Friday are already making waves around the world, with many wondering if a new Apple frenzy will sweep the Korean market once again. One thing that has urprised market experts and others is that the new 64-bit A7 processor for the high-end iPhone 5S is reportedly manufactured by Samsung Electronics.“Apple and Samsung have maintained a business relationship for a long time since the release of the first iPhone, and the relations will be solid for a while if the m

Park Marguerite Clark, wife of the late honorary chairman of Kumho Asiana Group Park Seong-yawng, passed away due to a chronic illness at St. John’s Health Center in Los Angeles on Wednesday. She was 81. After being cremated, the ashes of her body will be moved from L.A. to Seoul through an Asiana flight on Tuesday and a memorial room will be set up at Sinchon Severance Hospital. A visit to pay condolence is possible from the same day and the funeral procession will leave the hospital on Thursda

Chuseok is a time when tens of millions of Koreans visit their hometowns to reunite with their family and friends. It is also a chance to be reminded that the spirit of sharing lives on. Subcontractors were among the recipients of the spirit of Chuseok, as the Federation of Korean Industries, the largest business lobby group comprised of Korea’s biggest conglomerates, announced last week that its members would make pre-payments of up to 4.8 trillion won ($4.4 billion) to their vendors. Among the

LG Uplus announced Thursday that it would launch a mobile network service that is twice as fast as the current long term evolution service. The mobile carrier expects the “broadband LTE” to bring new momentum for growth. “Along with its existing LTE and LTE-A networks, the new service will help LG Uplus lead the market by providing the most stable and fastest LTE services,” said Lee Chang-woo, executive vice president of the mobile firm.  LTE subscribers of LG in Seoul and surrounding areas will

BERLIN ― A leading display market researcher has predicted difficult times are in store for the TV market, emphasizing the importance of the roles Korean TV makers play in overcoming the obstacles that lie ahead.“The TV industry has hit a barrier for growth, the rules of the game are changing,” said Paul Gray, a director of European TV search at Display Search, in an interview with The Korea Herald last week. “TV makers have chosen a better resolution as a solution to the challenges ahead. Howev

BERLIN ― LG Electronics this week revealed its goal to win over energy-conscious European consumers and take the lead in the world’s largest home appliance market.“By 2015 LG will take the lead in the European market, which accounts for 25 percent of the world’s home appliance market with energy-efficient and localized products. The leadership in the fiercest battlefield will be a stepping stone in winning the world market,” said Jo Seong-jin, president of LG’s home appliance unit, at a press me