Chaebol see leadership change in COVID-19 era
Samsung, Hyundai Motor welcome 3rd-generation scions to top post |
(From left) Samsung Electronics Vice Chairman Lee Jae-yong, Hyundai Motor Group Chairman Chung Euisun, SK Group Chairman Chey Tae-won, and LG Group Chairman Koo Kwang-mo.
Overwhelmed by the unprecedented COVID-19 pandemic this year, South Korea’s conglomerates have gone all-out to overhaul their business structures in light of the crisis.
Additionally, key groups embraced leadership changes, with third or fourth-generation scions officially taking the front line, and appointed young talents to strategic posts signaling a new generation cycle in the business realm.
Stepping into the spotlight was Lee Jae-yong, chief of the No. 1 conglomerate Samsung Group and vice chairman of flagship Samsung Electronics, who officially succeeded to the throne when Chairman Lee Kun-hee died in October after several secluded years on his sickbed.
[Newsmaker] Delivery Hero to sell Yogiyo under watchdog’s antitrust policy
DH chooses to ditch runner-up apps to acquire market champion Baemin |
The Fair Trade Commission Chairperson Joh Sung-wook. (FTC)
Germany-based Delivery Hero will concede its food delivery services Yogiyo as a cost of acquiring Woowa Brothers, the operator of market champion app Baemin, officials said Monday.
The apparently reluctant decision came after South Korea’s antitrust watchdog disapproved the monopolistic merger of the top two apps in the fast-growing food delivery market.
“We request that the Fair Trade Commission send the final notice in the first quarter next year,” the company posted on its website in the afternoon.
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[Newsmaker] Coupang offers streaming for premium subscribers |
(Coupang)
South Korea’s major e-commerce platform operator Coupang said Thursday that it has launched Coupang Play, an over-the-top service that provides unlimited streaming to premium membership holders.
Vying with global players such as Netflix and incoming Disney Plus, as well as a number of domestic rivals, Coupang Play will tap the video content market by bundling it with their Rocket Wow Club service at the existing price of 2,900 won ($2.63) per month.
The application for Android mobile phones is currently available on the Google Play Store, while the iOS, tablet PC, smart TV, and PC versions will be released in future, officials said. Once coupled with the original Coupang app, Coupang Play does not require a separate subscription.
COVID-19 consumption defined by home, indoor life koreaherald.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from koreaherald.com Daily Mail and Mail on Sunday newspapers.