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March 26, 2012

Investors in two of South Korea’s largest family-owned conglomerates are likely reaping big rewards, thanks to shares in Samsung and Hyundai reaching record values this weekend.

Investors in two of South Korea’s largest family-owned conglomerates are likely reaping big rewards, thanks to shares in Samsung and Hyundai reaching record values this weekend.

According to Yonhap News Agency, stock held by Lee Kun-hee and his family in Samsung Group rose to around 13 trillion won (€8.61 billion) on Sunday (25 March).

Citing data by Cheabol.com, the report said share value was up by 25.4% compared to last year, largely due to a “bullish stock market”.

February 15, 2012

Just days after it appeared the Bettencourt family had finally drawn a line under its family feud, another family squabble has made headlines.

Just days after it appeared the Bettencourt family had finally drawn a line under its family feud, another family squabble has made headlines.

This time, South Korean conglomerate Samsung Group is in the limelight, after the elder second-generation brother sued his younger sibling.

January 31, 2012

Plans by opposition politicians in South Korea to introduce a new tax on family-controlled conglomerates have been criticised by the country’s finance minister.

Plans by opposition politicians in South Korea to introduce a new tax on family-controlled conglomerates have been criticised by the country’s finance minister.

Bahk Jae-wan said the Democratic United Party’s suggestion to tax the dividends earned by family-owned conglomerates, or chaebol, from equity investments in their affiliates could hurt future investment and competitiveness, reported the Yonhap News Agency, a local news provider.

October 18, 2011

“Third-generation hereditary succession is as grotesque at Samsung as it is in Pyongyang,” wrote a correspondent to The Economist recently. The writer was making a slightly odd comparison between one of South Korea’s most successful chaebols – the state-supported manufacturing giants that continue to dominate the country’s economy – and the bizarre personality cult of Kim il-sung that lies beyond the demilitarised zone to the north.

“Third-generation hereditary succession is as grotesque at Samsung as it is in Pyongyang,” wrote a correspondent to The Economist recently.

The writer was making a slightly odd comparison between one of South Korea’s most successful chaebols – the state-supported manufacturing giants that continue to dominate the country’s economy - and the bizarre personality cult of Kim il-sung that lies beyond the demilitarised zone to the north.

March 18, 2011

Chairman of Samsung Electronics, Lee Kun-hee, might just be grooming a successor. Third-generation Lee Jae-yong has been promoted to the role of president at the firm, after serving as executive vice president at Samsung Electronics.



Chairman of Samsung Electronics, Lee Kun-hee, might just be grooming a successor. Third-generation Lee Jae-yong has been promoted to the role of president at the firm, after serving as executive vice president at Samsung Electronics.



His sister Lee Boo-jin has also been promoted to president of Samsung Everland, chief executive of Hotel Shilla and advisor to Samsung C&T. Both announcements signal a step forward in the 68-year-old Lee’s succession plan.



December 3, 2010

Samsung Electronics Ltd, a division of South Korea’s largest conglomerate the Samsung Group, announced 3 December that third-generation Lee Jae Yong has been promoted to president at the family-controlled firm.

Samsung Electronics Ltd, a division of South Korea's largest conglomerate the Samsung Group, announced 3 December that third-generation Lee Jae Yong (pictured) has been promoted to president at the family-controlled firm.

May 17, 2010

Lee Kun Hee, the second-generation chairman of Samsung Electronics, became South Korea’s richest man in terms of stock ownership after the listing of Samsung Life Insurance Co last week.

Lee Kun Hee, the second-generation chairman of Samsung Electronics, became South Korea's richest man in terms of stock ownership after the listing of Samsung Life Insurance Co last week.

Based on the closing price after the IPO, stocks owned by Lee were valued at $10.71 billion making him the country's richest man, according the Chaebul.com, a specialist website that collates information on the country's family-owned conglomerates.
 

April 30, 2010

Family business brands are racing into the top ranks of the best global brands. According to the Interbrand Global Brands 2009, 26 of the top 100 were family businesses, of which 20 had moved up in the rankings from the previous year

Family business brands are racing into the top ranks of the best global brands. According to the Interbrand Global Brands 2009, 26 of the top 100 were family businesses, of which 20 had moved up in the rankings from the previous year. Four (Toyota, BMW, Louis Vuitton Moet Hennessey and Samsung) were in the top 20.

March 24, 2010

Lee Kun Hee, the second-generation former chairman of family-controlled Samsung Group, will return to the business as chairman of Samsung Electronics after stepping down as in 2008 following a conviction for tax evasion.

Lee Kun Hee (pictured), the second-generation former chairman of family-controlled Samsung Group, will return to the business as chairman of Samsung Electronics after stepping down as in 2008 following a conviction for tax evasion. (Click here to read our coverage of the story)
 

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