South Korea's corporate watchdog chief plans to meet heads of the country's top 10 conglomerates, such as Samsung and Hyundai Motor, next month to hear their efforts to improve murky governance structures, sources said Friday.According to the sources, Kim Sang-jo, chairman of the Fair Trade

The board of GM Korea Co., the South Korean unit of General Motors Co., will decide whether to file for court protection next week while it makes a last ditch effort to reach an agreement with its union on restructuring measures, the carmaker said Friday.GM Korea's board of directors was widely

The head of a South Korean traders association met with deputy U.S. trade representative Jeffrey Gerrish and conveyed industrywide concerns over steel import restrictions, the organization said Tuesday.Kim Young-ju, CEO of Korea International Trade Association (KITA), said the South Korean steel ind

The second daughter of the chairman of Korean Air Lines Co. returned home from an overseas trip on Sunday amid controversy over claims that she hurled water into the face of an advertising firm employee last month.Police launched a preliminary inquiry into Cho Hyun-min, a senior executive at the cou

Police said Friday they began a preliminary investigation into allegations that a daughter of Korean Air Lines Co.'s chief physically assaulted an advertising company official last month.Cho Hyun-min, an executive at the country's largest air carrier and the second daughter of Hanjin Group C

Hyosung Group Chairman Cho Hyun-joon has invested “proactively” in Viet Nam since 2007, and as a result, Hyosung Vietnam Co., Ltd. has recorded more than one trillion won in annual sales since 2014, making it one of Hyosung's most promising global bases. This was the result of Hyosung’s aggressi

South Korea's jobless rate moved up slightly in March due to a rise in unemployment in the retail and educational service sectors, government data showed Wednesday.The unemployment rate stood at 4.5 percent last month, up 0.4 percentage point from a year earlier, according to the report compiled

Creditors of STX Offshore & Shipbuilding Co. said Tuesday they will place the debt-ridden shipbuilder under court receivership "in principle" as its union failed to accept the company's self-rescue plans.Creditors led by the state-run Korea Development Bank (KDB) had said before the deadline t

The majority of small and medium-sized enterprises (SMEs) that operate in-house research centers are suffering from a shortage of expert manpower, a survey by a think tank showed Sunday, highlighting the difficulties facing local businesses.According to the findings by the Korea Small Business Insti

South Korean retail giant Lotte said Friday it will launch a new affiliate for its cinema business in June, as it moves to maximize management effectiveness.Lotte Shopping Co.'s board members approved the plan to spin off its cinema business as a subsidiary on June 1. The new company, na

Kumho Tire Co., South Korea's second-biggest tiremaker by sales, said Friday that it has signed a deal with China's Qingdao Doublestar Co. to sell its controlling stake."Kumho Tire and its creditors concluded a contract on the purchase of new shares with Xingwei Korea Co. Ltd. (Doublestar),

GS Engineering & Construction Co., a major South Korean builder, said Friday that its first-quarter operating profit jumped to more than six times its profit a year earlier.For the three months ending March 31, the company reported 380.4 billion won (US$356 million) in profits, up from 59 billion wo

South Korea's power utility firm Korea Electric Power Corp. has bought interests in three solar photovoltaic projects in southern California from Recurrent Energy in KEPCO's largest investment in the U.S. solar market, according to Canadian Solar Inc.KEPCO acquired its interests in the Astor

Kumho Tire Co. and its union have tentatively agreed on a plan by creditors to sell the debt-ridden tiremaker to China's Qingdao Doublestar Co., with a union vote on the deal scheduled for Sunday, the company said Friday."On Saturday, Kumho Tire's union leaders will give a briefing on their

The chief executive officer of GM Korea Co. has called on its labor union to conclude ongoing wage negotiations by the end of March to help turn around the ailing carmaker, industry sources said Thursday.GM Korea and its labor union have made little progress in the wage talks deemed crucial to the n

A recent opinion survey showed that as much as 84% of Koreans polled believed the PyeongChang Winter Olympics was “a great success,” with sales of tickets reaching 109.9%, according to Lee Hee-beom, chief of the PyeongChang Organizing Committee for the 2018 Winter Olympic and Paralympic Winter Games

Sarang (Love) Plus Hospital, which specializes in the treatment of joint and spinal diseases and rehabilitation therapy, is seeking to strengthen overseas marketing activity focused on Russia, Kazakhstan and CIS countries. A hospital official said, "We have organized an international

LG Electronics Inc. said Monday its accumulated production of inverter direct drive (DD) motors for washing machines has reached 70 million units since it was first introduced in 1998.The South Korean tech giant claims the inverter direct drive motor can significantly reduce noise and vibration of w

South Korean steelmakers remain jittery about their exports to the United States despite Washington's move to temporarily exempt Seoul from heavy tariffs on steel imports, industry sources said Friday.Speaking at a Senate hearing, U.S. Trade Representative Robert Lighthizer said President Donald

The number of adults traveling abroad with their parents nearly doubled in five years amid a growing number of those in their 20s and 30s taking such trips to show filial piety, industry data showed Wednesday.The number of those aged over 19 years and their parents traveling overseas together on gro