Honorary chairman of E1 Corp. and a founding member of the LG Group, Koo Pyong-hwoi passed away on Oct. 20 from chronic diseases at Asan Medical Center in Seoul. The fourth younger brother of the late LG Group patriarch In-hwoi was 86 years old.President Lee Myung-bak paid his respects on Oct. 23 to…

Hyundai Motor dedicated its plant in Brazil on Nov. 9 in a ceremony held in Piracicaba, the Sao Paolo State, Brazil, at the new car plant capable of turning out 150,000 sedans annually, the carmaker said recently.Chairman Chung Mong-koo in his dedication speech at the ceremony, said he hoped that th…

Samsung Electronics is shifting to a new brand paradigm geared toward becoming a global top five company by 2020. The Korean electronics giant has so far followed fragmentary strategies to enhance the company and each product’s brand. From now on, Samsung Electronics has decided to set its bra…

Chairman Lee Kun-hee of Samsung Group emphasized that the group should take on the development of electric batteries, solar batteries, LED, bio-pharmacy, and medical equipment as key growth engines for the group at a cost of 23 trillion won by 2020 at a lunch on Nov. 8 with the heads of the group’s…

POSCO may launch emergency operations from next month to cope with the slowdown in the world economy, the excess output of steel products, and no sign of recovery yet in sight. Chairman Chung Joon-yang in what will be called the Innovative Festival, or IF, will officially declare the event on Dec. 5…

Daesang Corp., under its vision to work for the creation of future wellbeing, has been going all out to boost its annual sales to 5 trillion won and operating profit to 500 billion won by 2016, the 60th anniversary of its founding in 1956.The food company has been pursuing the globalization and segr…

CJ Cheiljedang has decided to secure half of its annual sales from abroad from next year to upgrade its position as a trailblazing global food and bio enterprise.To achieve the goal, the company will push the localization of its products and brands overseas and continue to invest in R&D activiti…

aT hosted its annual convention with 135 buyers from 26 countries meeting K-Food exporters for one-to-one business consultations on Oct. 9. This year, more than 36 percent of the buyers were from China, revealing the growing opportunities in the Chinese market. The buyers included major retail compa…

“Preview in Seoul 2012 (PIS),” the Seoul International Textile Fair, wrapped up a three-day run on Sept. 7 with the participation of 261 exhibitors, its biggest event ever.PIS 2012, which took place at COEX from Sept. 5-7, attracted 9,928 spectators, according to figures compiled by the Korea Fede…