Nexon’s entertainment expenses threefold that of rival NCSOFT: Chaebul.com

[THE INVESTOR] Embattled game developer Nexon’s entertainment expense from 2004 to 2015 was more than triple that of its main rival NCSOFT, according to conglomerate tracker Chaebul.com on July 12. Between 2004 and 2015, financial documents from NXC -- the Jejudo Island-based holding company of Nexon Korea -- showed that the firm and its local subsidiaries spent 17.43 billion won (US$15.13 million) on entertainement expenses. The figure compares dramatically with industry competition NCSOFT, whi

July 12, 2016

Korean Air heiress promoted to executive vice president

[THE INVESTOR] Cho Hyun-min, youngest daughter of Hanjin Group chairman Cho Yang-ho was promoted to executive vice president at Jin Air, the group’s flagship Korean Air’s budget airline. Cho will remain as Jin Air’s marketing chief even after the promotion. Cho Hyun-minOn July 8, Jin Air announced a modest reshuffle, elevating the status of its maintenance team to a division with aims to put more focus on aviation safety. In April, the chairman’s only son Cho Won-tae was named as new president o

July 8, 2016

Lotte founder and son banned from leaving Korea

 [THE INVESTOR] Lotte Group founder Shin Kyuk-ho and his son Shin Dong-bin who is the group chairman have been banned from leaving South Korea, according to court sources on July 8.The ban comes less than a month since the prosecution initiated an all-out probe into South Korea’s fifth-largest conglomerate on June 10 on charges of embezzlement and breach of trust.   Shin Kyuk-ho (left) and Shin Dong-bin (right)Industry watchers said the move indicates that the authorities have gathered enough ev

July 8, 2016

Naver chief to meet media ahead of LINE IPO

[THE INVESTOR] Lee Hae-jin, the reclusive leader of Internet giant Naver, will make an appearance at a press meeting on July 15 when the company’s subsidiary and mobile messenger operator LINE goes public in Japan“Naver board chairman Lee will attend a press meeting in Seoul on the same day when LINE is listed on the Tokyo Stock Exchange,” said Kim Hyun-ji, a public relations representative of the firm, adding the exact schedule and place are yet to be finalized. It will be Lee’s first appearanc

July 7, 2016

CJ Group chairman recovering from surgery for lung cancer

[THE INVESTOR] CJ Group chief Sohn Kyung-shik is recovering from surgery to treat lung cancer, according to company sources. Sohn, who was diagnosed with the cancer this May, is said to be in a stable condition.The CJ chairman is uncle to Lee Jay-hyun, the CJ group heir. CJ Group chairman Sohn Kyung-shikSohn has been heading Korea’s largest food and entertainment company since 1995 when CJ split from Samsung. After spending some time outside the company in early 2000s, he made a comeback at CJ w

July 7, 2016