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South Korean family businesses

February 17, 2015

A third-gen of South Korean conglomerate LG Group appears to have cracked the glass ceiling at her family’s business, becoming the first female family member appointed to top management.

A third-gen of South Korean conglomerate LG Group appears to have cracked the glass ceiling at her family’s business, becoming the first female family member appointed to top management.

Koo Ji-eun, who is also a next gen of the Samsung empire through her mother’s side, was appointed vice president of LG Group's catering subsidiary Ourhome this month, 11 years after she joined the company.

Koo is the daughter of Ourhome chairman Koo Cha-hak, and her uncles are LG Group chairman Koo Bon-moo and vice-chairman Koo Bon-joon.

January 13, 2015

A $1.25 billion share sale at a subsidiary of South Korean family-owned conglomerate Hyundai has flopped, potentially stalling succession between the second and third generations.

A $1.25 billion (€1.06 billion) share sale at a subsidiary of South Korean family-owned conglomerate Hyundai has flopped, potentially stalling succession between the second and third generations.

Despite a discount on the share price of up to 12%, the Chung family failed to reduce its 43% in Hyundai Glovis, the group’s logistics subsidiary.

June 9, 2014

Succession at Samsung – South Korea’s largest family-owned conglomerate – could prove costly for the third generation, with analyst estimates putting the potential inheritance tax bill at almost €5 billion.

Succession at Samsung – South Korea’s largest family-owned conglomerate – could prove costly for the third generation, with analyst estimates putting the potential inheritance tax bill at almost €5 billion.

Analysts have been speculating about the future of the company following the hospitalisation of second-generation chairman Lee Kun-hee last month after a heart attack.

May 9, 2014

The third generation of the Lee family, which controls South Korea’s Samsung, is reportedly restructuring family ownership in the conglomerate’s complicated web of subsidiaries.

The third generation of the Lee family, which controls South Korea’s Samsung, is reportedly restructuring family ownership in the conglomerate’s complicated web of subsidiaries.

The group’s IT solutions business, Samsung SDS, said on Thursday it was planning a listing on the Korea Exchange this year, explaining it will help it secure funds for its global expansion and patents in lucrative business areas such as cloud computing and big data.

August 29, 2013

South Korea’s president has met with the country’s top privately-owned conglomerates, including the likes of Samsung and LG, whose economic dominance she has publicly promised to curb in the past.

South Korea’s president has met with the country’s top privately-owned conglomerates, including the likes of Samsung and LG, whose economic dominance she has publicly promised to curb in the past.

At a lunch held in Seoul on Wednesday, Park Geun-hye promised attendees that her campaign to improve the country’s economy through “economic democratization” would not turn into the repression of conglomerates or excessive regulation.

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