Nexon Japan’s major shareholders are at tax havens: Chaebul.com

[THE INVESTOR] Many of Nexon Japan’s major shareholders were found to be offshore firms located in tax havens, according to data from conglomerate tracker Chaebul.com on July 27. In addition, a local brokerage -- Samsung Securities -- was discovered holding the third-largest stake in the gaming company through an overseas bank account. Nexon Japan is the headquarters of the South Korean gaming company Nexon Group founded by Kim Jung-ju who is currently being questioned for charges of bribery. Ki

July 27, 2016

Hyundai BNG Steel CEO facing indictment for chauffeur abuse

[THE INVESTOR] Hyundai BNG Steel CEO Chung Il-sun’s assault case has been transferred to the prosecution, with recommendations to indict him for violating the Labor Standards Act, the Ministry of Employment and Labor said July 27.Chung, who is a grandson of Hyundai Group founder Chung Ju-young, is alleged to have assaulted his chauffeur, and hired a total of 61 chauffers over the course of three years.   Hyundai BNG Steel CEO Chung Il-sunHe is also accused of forcing his drivers to work more tha

July 27, 2016

Samsung heir, IBM CEO meet on possible partnership

[THE INVESTOR] Samsung Electronics vice chairman Lee Jae-yong and IBM CEO Virginia Rometty had a private meeting last week during the annual Sun Valley Conference in Idaho, it was confirmed on July 14. The high-profile meeting has drawn keen interest among industry watchers here as it could hint at a possible partnership between the two tech giants. Daily Mail homepageSamsung has recently been making a big push to elevate its software prowess. Sources predict Samsung could seek to share IBM’s so

July 14, 2016

LINE’s IPO 25 times oversubscribed

[THE INVESTOR] LINE Corp.’s simultaneous initial public offerings in Japan and the US this week were nearly 25 times oversubscribed with deposits totaling 2.77 trillion yen (US$2.66 billion), according to lead managers of the dual stock listings on July 14. LINE, operator of its namesake immensely popular mobile messaging app, will make its stock debut on the New York Stock Exchange on July 14 and Tokyo Stock Exchange the next day. Naver board chairman Lee Hae-jinReflecting keen interest among i

July 14, 2016

GS’s 4th generation owners increase stake

[THE INVESTOR] The great-grandchildren of GS Group(chairman Huh Chang-soo) are steadily increasing their stake in the family business. On July 13, GS announced that GS Caltex executive vice president Huh Joon-hong has purchased 52,000 shares on July 7 and 8. He had the largest stake in the holding company among the fourth generation with 1.64 percent (1,556,327 shares) as of February 2016.GS Caltex executive vice president Huh Joon-hongHe is the great-grandson of GS Group founder Huh Man-jung an

July 14, 2016

Speculations rise over Park Sam-koo and Kumho Tire

[THE INVESTOR] The news of Kumho Tire creditors seeking a buyer for their stake is fueling speculations about Kumho Asiana Group chairman Park Sam-koo’s future course of action. Park holds pre-emption rights, and he has been working on rebuilding the group that was fragmented due to financial troubles in the late 2000s.However, the massive figures associated with Kumho Tire sale have prompted speculations that Park’s plans for the company may be difficult to achieve.Kumho Asiana Group chairman P

July 14, 2016