Nexon, NCSOFT, Netmarble: Korea’s 1st-generation venture legends

[THE INVESTOR] The first generation of gaming venture CEOs -- the people behind Korea’s dot-com rage -- changed the local gaming landscape forever. Among them, the most famous threesome are Kim Jung-ju, the embattled founder of Nexon, NCSOFT Corp. CEO Kim Taek-jin and Bang Joon-hyuk, chairman of Netmarble Games. The biggest contribution they made to the local gaming industry is that they brought games into the limelight and helped change public perception. On a personal level, the three legendar

July 21, 2016

Samsung heir, mother donate W4b to help underprivileged women

[THE INVESTOR] Samsung Electronics vice chairman Lee Jae-yong and his mother Hong Ra-hee, wife of the ailing Samsung patriarch Lee Kun-hee, recently donated a combined 4 billion won (US$3.50 million) to a local charity. According to the Ministry of Justice on July 20, the two donated 2 billion won each to the Korea Juvenile Protection Association to build a new vocational school for underprivileged young women. The Youth Education Service Center had planned to build a new center for young women

July 21, 2016

SK vice chairman to get parole

[THE INVESTOR] SK Group vice chairman Chey Jae-won is among those listed for parole on July 29, local media reported on July 21. According to reports citing unnamed government sources, the Ministry of Justice’s parole board ruled that Chey is eligible for parole. Although the issue needs the justice minister’s approval, the board’s decisions are rarely overturned. Chey Jae-wonChey, younger brother of SK Group chairman Chey Tae-won, was sentenced to 3 1/2 years in February 2014 on charges of embe

July 21, 2016

Hyosung CEO Cho Hyun-joon out to seal No.1 spot in Chinese textile market

[THE INVESTOR] Hyosung Group president Cho Hyun-joon appears to be upping the ante to further expand into the Chinese textile market where his firm already has a growing presence. Cho -- one of Hyosung chairman Cho Seok-rae’s sons -- is mainly in charge of the conglomerate’s textile and IT sectors.Hyosung is currently No. 1 in terms of market share in China’s spandex industry.   Hyosung Group President Cho Hyun-joon (second from right) / Hyosung GroupTo seal this position, Cho has recently been

July 21, 2016

Nexon founder summoned as suspect in insider trading scandal

[THE INVESTOR] Prosecutors on July 13 summoned Kim Jung-ju, founder of the nation’s largest game company Nexon, on suspicions that he gave insider information to a senior prosecutor to help him gain illegal stock gains.The prosecutors said they will question Kim on whether he had leaked information about the stock market debut of Nexon Japan to Jin Kyung-joon, a prosecutor who is also his college friend.Nexon founder Kim Jung-ju (third from left) / The Investor(Chung Hee-jo)Jin had bought 10,000

July 13, 2016