After years of sitting behind a wall, the large empty space in Songhyeon-dong opened to the public on Oct. 7 this year. During the Japanese colonial period, the space was used for housing for employees of the Joseon Shiksan Bank. From liberation in 1945 to 1997, it was a housing compound for US diplomats. After the diplomats moved out, Samsung Life Insurance bought the land and then sold it to Korean Air, who planned to develop it into a luxury hotel. As opposition to those plans grew, the City

Samsung Group’s insurance units signed a deal worth $650 million with US-based private equity firm Blackstone to expand its global alternative asset portfolio, the Korean insurers said Wednesday. Samsung Life Insurance and non-life insurer Samsung Fire ＆ Marine Insurance will invest in overseas real estate, infrastructure and private equities managed by Blackstone through the latest deal. The investment will be managed by Samsung’s asset management arms Samsung Asset Management and

Samsung Group's insurance affiliates said Wednesday they have signed a deal with US asset management behemoth Blackstone Inc. to invest some $650 million in alternative assets, such as real estate and infrastructure facilities. The two -- Samsung Life Insurance Co. and Samsung Fire & Marine Insurance Co. -- will chip in the amount in the alternative fund managed by Blackstone. In recent years, Samsung's financial firms have been aggressively pushing for global investment. Samsung Life

Samsung is envisioning a change in governance structure as a presidential pardon has virtually normalized de facto leader Lee Jae-yong’s control over the nation’s largest conglomerate. Lee Chan-hee, chief of Samsung’s independent compliance oversight committee, told the press before the committee’s regular meeting Tuesday that it is “working to address the corporate governance issue” of Samsung, while declining to elaborate further on the proceedings. &ldqu

HO CHI MINH CITY, Vietnam, Aug. 16, 2022 /PRNewswire/ -- A record 120 companies in Vietnam received the coveted HR Asia Best Companies to Work for in Asia 2022 awards. Winners of Vietnam's HR Asia Best Companies to Work for in Asia 2022 With the theme, Diversity, Equity and Inclusion, the awards this year focused on the efforts of companies in promoting diversity and inculcating inclusion in the workplace, while retaining HR Asia's stringent evaluation criteria. In all, 46,270 emp

The first Samsung product that Richard Craig, a 37-year-old American living in Tianjin, China, owned was a 42-inch flat screen TV he bought in 2009 in the US. Ten years later, the longtime iPhone user switched to a Galaxy smartphone, saying “phones made by Samsung were some of the best Android phones available.” For Lim Eun-soo, a 63-year-old Korea-born US resident, a Samsung TV in 2000 was her first electronic device that was made by a company from her home country. “Back th

President Yoon Suk-yeol’s decision to grant a special pardon on Samsung heir Lee Jae-yong on Friday is expected to speed up his return to leadership of Korea’s largest family-controlled chaebol and the world’s largest memory chipmaker. Set to be granted on Aug. 15 Liberation Day, the clemency will lift the employment restriction placed on him that was effective until 2027. This would open the door for the 54-year-old third-generation chaebol chief to be promoted to the chairma

Samsung Fire & Marine Insurance Co., South Korea's No. 1 non-life insurer, said Thursday its second-quarter earnings rose 9 percent from a year ago thanks to a decreased loss rate. Net income came to 340.8 billion won ($261 million) in the April-June period, compared with 312.6 billion won a year earlier, the company said in a regulatory filing. Operating income expanded 8.4 percent on-year to 490.1 billion won, and insurance premiums from policyholders stood at slightly over 5 trillion won

The personal fortune of Samsung Electronics Vice Chairman and de facto leader Lee Jae-yong has decreased by over 2 trillion won ($1.54 billion) during the first half of 2022 as shares of key Samsung affiliates tumbled due to bearish stock market in Korea, data showed Tuesday. As a result, the total worth of Lee’s combined stake in Samsung affiliates fell to 12.03 trillion won as of end-June, from 14.19 trillion won in January, according to data by market intelligence Korea CXO Institute.

A 6:30 a.m. commute bus, three nutritious meals a day at the cafeteria and a pride that runs deep for being a part of South Korea‘s largest and richest conglomerate have been among many features that captured the “Samsung man” -- trained to fit into the gigantic and somewhat militant organization. A shared goal of maintaining Samsung’s superiority has united its 270,000-member workforce so far, not to mention its hefty year-end incentives and other financial benefits fr

South Korean stocks sank to a fresh 19-month low Wednesday to extend their losing streak to a seventh day ahead of the US Federal Reserve's interest rate decision amid high inflation and concerns over a global recession. The local currency also fell against the US dollar. The Korea Composite Stock Price Index (KOSPI) lost 45.59 points, or 1.83 percent, to close at 2,447.38. It is the lowest figure since Nov. 10, 2020, when the index closed at 2,452.83. Trading volume was moderate at 700.92

South Korean stocks got off to a weak start Thursday, as worries about the world economy, possibly set for a recession, continued to weigh on investor sentiment. The Korea Composite Stock Price Index (KOSPI) fell 23.52 points, or 0.88 percent, to 2,662.38 in the first 15 minutes of trading. Overnight, Wall Street ended lower amid woes over the potential economic impact of the US Federal Reserve's planned tighter monetary policy. In Seoul, most shares lost ground across the board. Market bel

South Korean stocks closed higher for a third consecutive day Tuesday as foreigners scooped up local equities amid eased concerns over a global recession and China's economic slowdown, analysts said. The local currency inched up against the US dollar. The Korea Composite Stock Price Index (KOSPI) gained 16.24 points, or 0.61 percent, to close at 2,685.90. Trading volume was moderate at 649.8 million shares worth 13.64 trillion won ($11 billion) with gainers outpacing decliners 544 to 291. &

The South Korean stock market fell for the sixth consecutive day Tuesday to hit a 17-month low, as investors fretted about high inflation and a global economic slowdown amid the ongoing crisis in Ukraine and China's lockdown of major cities over COVID-19. The local currency hit its lowest point against the US dollar in more than two years. The Korea Composite Stock Price Index (KOSPI) lost 14.25 points, or 0.55 percent, to close at 2,596.56, extending losses to the sixth session in a row. It is

The list of South Korea’s 500 biggest companies by sales saw significant changes last year, with the rise of battery, K-pop and virtual currency firms, a corporate tracker said Wednesday. Battery maker LG Energy Solution jumped from No. 343 in 2020 to No. 44 last year on the annual list released by CEO Score as its shipments of pouch- and cylinder-type batteries surged on growing global demand for electric cars. Camera module supplier LG Innotek went from No. 68 to No. 48 in the same per