CJ Olive Young, a local health & beauty store chain, has been expanding alcoholic beverage sales as it prepares for an initial public offering (IPO), according to industry officials, Tuesday.
President Yoon Suk Yeol will be accompanied by an entourage of more than 120 Korean business leaders during his state visit to the United States next week. The trip comes as the two countries mark the 70th anniversary of their alliance and seek to strengthen economic partnerships in advanced technologies. The two countries are also expected to sign a raft of memoranda of understanding (MOU) during the trip to deepen bilateral cooperation in various industrial fields, such as chips, batteries, electric vehicles (EV) and biotechnology.
The year 2022 had its ups and downs. Steeply rising interest rates caused turmoil in the financial markets, while the successful launch of the nation s first homegrown space rocket boosted hopes that Korea will join the world s space powers in the near future. Here are the top 10 news in business and finance that made headlines in 2022.
A memorial service was held Friday marking the 35th anniversary of late Chairman and Samsung Group founder Lee Byung-chul s death. The owner families of Samsung and CJ groups gathered in Yongin, Gyeonggi Province to remember the late founder. According to Samsung, Chairman Lee Jae-yong, former Leeum Samsung Museum of Art Director Hong Ra-hee, Hotel Shilla President Lee Boo-jin, Samsung Welfare Foundation Chairman Lee Seo-hyun, and Samsung Global Research President Kim Jae-youl paid tribute to the late founder.
Lotte Group Chairman Shin Dong-bin was not seen during Saudi Crown Prince Mohammed bin Salman Al Saud s luxurious day-long stay at Lotte Hotel in downtown Seoul, where he met with Korean business tycoons on Thursday evening at the executive suite which costs 22 million won ($17,000) per night. Even before the de facto leader of Saudi Arabia came to Korea, there were rumors that the chairmen of Lotte and LG groups were not invited to the crown prince s meeting.