Unionized workers of Korea Exchange Bank have mapped out a plan for a general strike, calling on Hana Financial Group to scrap its preliminary deal with Lone Star Funds. Their plan comes after Hana Financial signed a revised preliminary deal to take over KEB from Lone Star over the weekend. Despite the two parties’ recent agreement to lower the takeover price, the KEB union said it is against H...

Hyundai Motor chairman Chung Mong-koo plans to offer educational support to students from low-income households, the automotive group said Sunday. Chung, who donated 500 billion won ($440 million) via the carmaker’s foundation for social activities last August, mapped out a program to support 84,000 underprivileged students over the next five years. The program involves comprehensive support fo...

For next year, Peugeot and Hanbul Motors have set the goal of 35 percent growth compared to 2011 with sales of 3,500 units, he said. Aside from the Peugeot 3008 HYbrid4, the Korean distributor is poised to introduce the Peugeot 5008, a multi-purpose vehicle, in the local market in 2012. Song forecast that demand for MPV models like the 5008 in Korea will surge in the coming years as the portion...

Hyundai Motor chairman Chung Mong-koo was selected as Asia’s best automobile industry leader by the U.S.-based publication Automotive News on Wednesday. In this year’s list of auto industry “All-Stars,” Automotive News selected Chung as the top CEO among Asian firms for his part in increasing Hyundai Motor’s presence in the global market. He grabbed the top post for the second consecutive year,...

Kim Gyu-bok, a former chairman & CEO of the Korea Credit Guarantee Fund, has been nominated as the only candidate for chairman of Korea Life Insurance Association. The 60-year-old, who is expected to replace the current KLIA chairman Lee Woo-chul, will be appointed to the post on Dec. 5, according to the life insurance lobby. Born in 1951 in Gimhae, South Gyeongsang Province, Kim graduated from...

Chairman Kim to discuss measures for low carbon-based growth at high-level aid forum in Busan Korean policymakers are paying close attention to green growth at home and abroad as one of the nation’s future development engines. The 4th High Level Forum on Aid Effectiveness, slated for Nov. 29-Dec. 1 at the BEXCO in Busan, is expected to be an opportunity for the nation to take the initiative in ...

Hyundai Motor is broadening its ties with Chinese dealerships in an apparent judgment that China’s rapidly growing car market could decide the fate of the Korean automaker. The company has invited more than 50 dealers from China to introduce the Korean headquarters’ management philosophy and future development strategies in detail. The dealers from Beijing Hyundai Corp. are scheduled to visit a...

Shinhan Bank has once again been picked as the best among Korea’s major commercial breaks in terms of customer satisfaction. Last week, Shinhan was selected as the No. 1 bank in the Korean Standard-Service Quality Index for 2011, grabbing the title for the 10th consecutive year. Of particular note was the bank’s new “Service Capability Level” system, designed to enhance the staff’s customer-ori...