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Disgruntled Coupang Men slam Coupang
[THE INVESTOR] The row between Coupang delivery workers, more widely known as Coupang Men, and the company regarding working conditions appears to be deepening amid wage cuts that are said to have been executed without explanation.“The firm cut my wage from 3.1 million won (US$2748.23) to 2.5 million won this month,” one Coupang Man based in Jeonju, North Jeolla Province, told The Investor.“I sued the CEO for cutting workers’ wages without attaining approval from a majority of the workforce,” sa
Interactive news brief 'DECODED X' launched
[THE INVESTOR] The Investor is proud to announce the launch of our weekly brief, “DECODED X.” DECODED X is all about Korea -- the markets, the corporate scene, social issues and politics. But if you are thinking of a lengthy, stuffy newsletter that won't be much more than a collection of headlines already out there, prepare to be wowed.DECODED X is more than just news. In addition to articles that have gone through meticulous fact-checking by our dedicated staff, we also give you behind-the-sce
Samsung may announce CEO reshuffle soon
[THE INVESTOR] Samsung Electronics is expected to announce its long-delayed reshuffle of top executives this month, local daily Metro reported on May 22. “The delayed reshuffle has prompted complaints by executives,” an industry source was quoted as saying in the report. “Some of them seem to have received job offers from other companies.”Samsung promoted 96 executives in two rounds of executive reshuffles early this month. The company also announced it would set up a separate foundry business u
Skepticism looms over Samsung Galaxy S8’s Chinese sales
[THE INVESTOR] Samsung Electronics is expected to see no immediate breakthrough in sluggish smartphones sales in China despite next week’s launch of the latest flagship Galaxy S8, analysts forecast on May 19.“The Note series has been more popular in China compared with S series. So the next Note smartphone will be more key to Samsung‘s performance in China,” CK Lu, an analyst from research firm Gartner, told The Investor.“I think the real battle will be in the fourth quarter when Apple and Samsu
Here’s why Samsung’s foldable smartphone is delayed
[THE INVESTOR] Editor’s note: Samsung Electronics is widely rumored to be working on the industry’s first “foldable” smartphone that can be bent 180 degrees to be used as a tablet. There has been speculation that the phone could hit the market in the third quarter this year though in a small batch of about 100,000 units. But more recently industry experts say the phone’s launch could be delayed further due to technical and marketability issues. Some say for now Samsung is likely to focus more on
SK hynix-Bain consortium offers less than US$18b for Toshiba deal
[THE INVESTOR] Korean chipmaker SK hynix and US private equity firm Bain Capital have reportedly offered less than 2 trillion yen (US$18 billion) to acquire Toshiba’s chip business unit in the second bidding round, industry sources said on May 19. “The two firms participated in the May 19 bid together,” said a source briefed on the matter. “But their bidding price was lowered at the last minute considering growing uncertainties surrounding the deal.”Related:SK renews confidence in Toshiba dealSK
Biz environment for Korean firms in China improves
[THE INVESTOR] Korean companies are slowly resuming their full operations in China as the business enviornment appears to be improving following the election of President Moon Jae-in, according to industry sources. Lotte Group, which was hit hardest by the THAAD row as it decided to swap land with the Korean government for deploying the advanced missile system, has seen its businesses recovering in China. Lotte Engineering & Construction has kicked off a promotional road trip to China to sell it
CJ E&M; joins hands with Apple Music
[THE INVESTOR] CJ E&M; has become the first major distributor in Korea to provide music content to Apple Music, according to Chosun Biz on May 22. Its music streaming service Mnet.com acknowledged that it has been providing music to Apple’s subscription streaming service since April 27 to expand its distribution.This will strengthen the position of Apple Music that has failed to cinch deals with major Korean music distributors, as it maintained a high commission rate. It was officially launched h
E-Land sells Modern House to MBK for W700b
[THE INVESTOR] E-Land Group closed a deal with MBK Partners to sell its home and living business for 700 billion won (US$626 million), according to the company on May 21. The company will sell 100 percent of its shares in Modern House, a home and living brand that offers lifestyle products. The brand‘s operations will be officially handed over this month through a final contract. The brand, established in 1996, currently brings in sales of about 300 billion won each year. MBK Partners will co
Samsung Bioepis’ Remicade biosimilar wins US FDA approval
[EQUITIES] ‘SK hynix’s bid for Toshiba unit attractive’
Pantech sells US patents to stay afloat
Average of 160,000 won spent to watch mobile ads
[EQUITIES] ‘CJ CGV to rebound in Q2’
[EQUITIES] ‘Kakao likely to improve in H2’
E-Land reduces debt before delayed IPO
Assets of 4 major groups surge
Moon to foster EVs as new growth engine
Hyundai’s Kona likely to face production delay
Lotte chief retains grip on management
CJ chief returns to management after 4-year hiatus
Merck VP joins board of Korean biotech firm Codi M
Netmarble founder becomes No. 6 stock rich in Korea
