The average salary of an executive of a major South Korean corporation is almost 11 times that of an average employee working at those companies, a report by an online think-tank monitoring local conglomerates showed Sunday. Chaebol.com analyzed the salaries of the people working for 162 subsidiaries of 20 major conglomerates in South Korea in the 2023 fiscal year, and found that the executives of those companies get paid an average salary of 1.09 billion won ($810,000) a year, compared to 99.6

Lotte Holdings has launched a health care media platform in Japan in line with its strategic initiative to strengthen its foothold in the health care sector. Initially introduced as part of Lotte Group’s digital marketing efforts in 2020, Lotte transformed the platform into an independent media corporation on Feb. 1, now officially known as Lotte Medi Palette Co., Ltd. The health care platform is fully funded by Lotte Holdings with 100 million Japanese yen ($664,000) and is represented by

As local card issuers struggle to seek new growth engines on foreign ground, a handful saw improvements in 2023. Making a surprise breakthrough overseas last year was Woori Card, which posted a cumulative net profit of around 6.25 billion won ($4.64 million) as of the third quarter through its foreign subsidiaries in Myanmar and Indonesia. The figure was up by almost 78 percent on-year. Driving the flourish was Woori Finance Indonesia, the Korean card company's newly launched Indonesian cor

The Incheon International Airport Corporation has unveiled its vision for the upcoming year, aiming to further digitalize the airport's systems and services for the convenience of passengers. "We have designated 2024 as Incheon Airport's year of digital transformation," Incheon International Airport Corp. CEO Lee Hag-jae said during a press conference held at the airport, on Wednesday. "Our objective is to integrate cutting-edge technology into airport services at both t

Lotte Group's year-end reshuffle announced on Wednesday signals a focus on new growth opportunities, placing the third-generation scion at the forefront. The conglomerate, ranked as the country's sixth-largest, has initiated this year's executive reform as it grapples with declining performance in its major subsidiaries. During an annual board meeting, a panel of 38 affiliates appointed 14 new chief executive officers. Among them, Shin Yoo-yeol, the 37-year-old eldest son of Lotte

Hyundai Motor Group announced Monday it has entered into a joint venture agreement with Saudi Arabia's Public Investment Fund (PIF) to construct its first-ever automobile assembly plant in Saudi Arabia and expand its presence in the Middle Eastern market. This announcement came as part of a broader initiative that saw 46 memorandums of understanding and joint partnerships signed between South Korean companies and Saudi Arabian counterparts during President Yoon Suk Yeol's state visit t

HONG KONG, Oct. 16, 2023 /PRNewswire/ -- Cosmoprof Asia 2023 is coming back to Hong Kong! The leading B2B beauty event in the Asia-Pacific region, organized by a joint-venture between BolognaFiere and Informa Markets, is ready to celebrate 26 years of successful track record. The event will host all the key players of the industry in its hometown, which has always been recognized as the gateway to the Asia Pacific region and Mainland China and renowned for its business-friendly environ

South Korean retail giant and the nation’s fifth-largest conglomerate Lotte Group has carried on diverse corporate social responsibility projects this year, under the slogan “From heart to heart." Earlier this month, Lotte hosted the “17th Korea Brand Expo” in Jakarta, Indonesia, bringing together small and medium-sized enterprises looking to enter the local market. Over four days, it provided business counseling for 50 Korean enterprises, giving tips about Indonesia

Announces Human Rights and Environmental Management Charter Alongside Annual Implementation Strategies within its Mid-to-Long-term ESG Roadmap Strengthens Eco-friendly Policies, Including Greenhouse Gas Reduction Plans from the Initial Factory Design Stage SEOUL, South Korea, Aug. 31, 2023 /PRNewswire/ -- LOTTE BIOLOGICS is embarking on full-fledged ESG (Environmental, Social, and Governance) management.  On August 30, LOTTE BIOLOGICS, under the leadership of CEO Richard

Pepsi-Cola Products Philippines, Inc. Garners Prestigious Enterprise Asia Linchpin of Asia Award 2023, Celebrating a Legacy of Excellence and Innovation in the Beverage Industry SINGAPORE, Aug. 15, 2023 /PRNewswire/ -- On its 34th year of operations, Pepsi-Cola Products Philippines, Inc. (PCPPI) is poised to face a post-pandemic world with a renewed clarity of purpose and passion for action. Guided by its core values of Integrity, Innovation, Care & Respect, Empowerment and Excellence

  Business leaders from South Korea and the United States signed dozens of non-binding deals and discuss ways to enhance cooperation in semiconductors, future vehicles and clean energy on Tuesday. During President Yoon Suk Yeol's state visit to the US marking the 70th anniversary of the US-South Korean alliance, two events hosted by the Federation of Korean Industries – the Korea-US Business Roundtable and the Korea-US Business Forum were held at the US Chamber of Commerce in Washingt

Busan, Asia's top maritime cultural city, is busy getting ready to stand tall as a world-class tourist city in the post-COVID-19 era. The Busan Tourism Organization lies at the heart of this aspiration. The corporation has recently developed a new Busan tourism brand identity. The brand identity incorporates the image of Busan as a city where people love to play, work and live, based on market research and expert opinions targeting 30,000 tourists. This reflects part of its efforts to bolst

SEOUL, South Korea, Jan. 10, 2023 /PRNewswire/ -- The Seoul Metropolitan Government and Seoul Business Agency (SBA) coordinated the Seoul Pavilion in one of the world's largest technology conventions, CES 2023, hosted in Las Vegas, for four days from Thursday, January 5th to Sunday, January 8th. They presented Seoul's vision for the future and promoted its world-class innovative technology for the global market. Seoul Pavilion operated two exhibition halls: "Seoul Tech Pavilion," in

The Seoul Metropolitan Government announced its development plan to turn massive idle land near Yongsan Station in central Seoul into the “Asian Silicon Valley” and a city transportation hub. In a press briefing on Tuesday, Seoul Mayor Oh Se-hoon said the government will transform the area into an “international business district as a new center for global urban competitiveness and technological innovation.” The Seoul city government will develop the area, which is a 4

20,000 expected at Southeast Asia's largest Oil, Gas, Energy, and Petrochemicals event in Kuala Lumpur KUALA LUMPUR, Malaysia, July 22, 2022 /PRNewswire/ -- Energy professionals from across the globe will gather in Kuala Lumpur at one of the most comprehensive industry events supporting the Oil, Gas, Energy, and Petrochemicals industry in Southeast Asia when OGA x MOGSEC and the inaugural Petrochemicals Sustainability Conference (PSC) 2022 are staged together from September 13 to 15, 2022.