As of May, 108 companies within 37 conglomerates had been fined a collective 13.1 billion won for violating public notification requirements, including major internal business deals among affiliates, according to the Fair Trade Commission (FTC).
The phrase “big deal” started to be used in Korea in early 1998. The Kim Dae-jung administration came up with “big deals” as a means to restructure companies.Back then, a big deal was not just any transaction. It was a...
The value of related-party transactions between companies within the same chaebol was virtually unchanged in 2019 from 2018, but large groups with significant founding-family shareholdings reported more trade between related companies.
The job market is expected to worsen in the second half of this year, especially at small and mid-sized companies, as uncertainty over the impact of the Covid-19 pandemic continues.
Korea's conglomerates are experiencing a paradigm shift. The manufacturing giants that used to sustain the country’s economy have now largely been replaced by IT behemoths.
Spring recruitment is being postponed, but the Global Samsung Aptitude Test (GSAT) is on, Samsung Electronics announced Tuesday. The exam, which is used to choose new employees for all Samsung Group companies, will be online, a first for the GSAT.
Conglomerates in Korea were already struggling to make profit even before the outbreak of the coronavirus pandemic, according to Fair Trade Commission (FTC) data released Sunday.