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☆ Samsung reportedly tells executives they're working 6 days a week now
▼ + stars: | 2024-04-18 | by ( Camilo Fonseca | ) www.businessinsider.com time to read: +3 min

Samsung Group is introducing a six-day workweek for executives, according to a recent report. AdvertisementWhile some companies are embracing four-day workweeks, Samsung Group is reportedly moving in the opposite direction — at least for executives. Samsung Group is implementing a six-day workweek for executives across all of its divisions, with some starting as early as this week, according to a new report from The Korea Economic Daily. Some executives at other divisions have already been working six-day weeks voluntarily since the start of the year, the Daily said. Samsung Electronics executives will have the option of coming in either Saturday or Sunday, according to the report.

Persons: —, weathers Organizations: Samsung, Apple, Service, Samsung Group, Korea Economic, South, South Korean, Samsung Electronics Co, Daily, Samsung Electronics, Employees, IDC, Reuters, SK Group, SK Hynix Locations: South Korea, Korean

SEOUL, South Korea (AP) — A South Korean court on Monday acquitted Samsung Electronics Chairman Lee Jae-yong of financial crimes involving a contentious merger between Samsung affiliates in 2015 that tightened his grip over South Korea’s biggest company. The court said the prosecution failed to sufficiently prove the merger between Samsung C&T and Cheil Industries was unlawfully conducted with an aim to strengthen Lee’s control over Samsung Electronics. Lee had denied wrongdoing in the current case, describing the 2015 merger as “normal business activity.”Lee, 56, did not answer questions from reporters as left the court. Lee Jae-yong served 18 months in prison after being convicted in 2017 over separate bribery charges related to the 2015 deal. Some shareholders had opposed the 2015 merger, saying that it unfairly benefited the Lee family while hurting minority shareholders.

Persons: Lee Jae, Lee, ” Lee, Jin Kim, Lee Kun, Park, Yoon Suk, tycoons, Kim Tong, hyung Organizations: Samsung, Korea’s, Seoul Central, Cheil Industries, Samsung Electronics, Prosecutors, South, National Pension Service Locations: SEOUL, South Korea, Seoul, Ukraine

☆ Samsung Biologics unveils $920 mln manufacturing deals for Pfizer
▼ + stars: | 2023-07-04 | by ( ) www.reuters.com time to read: +1 min

SEOUL, July 4 (Reuters) - South Korea's Samsung Biologics (207940.KS) announced on Tuesday two deals with Pfizer (PFE.N) worth around a combined 1.2 trillion won ($921.38 million) to manufacture products for the U.S. pharmaceutical giant. The latest orders bring this year's combined tally of orders from Pfizer to $1.08 billion, Samsung Biologics said in a statement. Tuesday's announcements include a 922.7 billion won contract, as well as an additional 254.3 billion won order that is a follow-up to a deal previously announced in March. Samsung Biologics welcomed the orders as an expansion of a strategic partnership, adding that it had won total contracts worth 1.93 trillion won so far this year, surpassing last year's annual contract volume. Earlier this year, Samsung Biologics signed deals with Eli Lilly Kinsale and GlaxoSmithKline (GLAX.NS).

Persons: Samsung Biologics, Eli Lilly Kinsale, 1,302.4000, Hyunsu Yim, Ed Davies Organizations: Samsung, Pfizer, Samsung Group, GlaxoSmithKline, Thomson Locations: SEOUL, South Korea

☆ Samsung Biologics unveils $897 mln manufacturing deals for Pfizer
▼ + stars: | 2023-07-04 | by ( ) www.reuters.com time to read: +1 min

SEOUL, July 4 (Reuters) - South Korea's Samsung Biologics (207940.KS) announced on Tuesday two deals with Pfizer (PFE.N) worth a combined $897 million to manufacture products for the U.S. pharmaceutical giant. The latest orders bring this year's combined tally of orders from Pfizer to $1.08 billion, Samsung Biologics said in a statement. Samsung Biologics welcomed the orders as an expansion of a strategic partnership, adding that its total contracts so far this year had already surpassed last year's annual contract volume. Earlier this year, Samsung Biologics signed deals with Eli Lilly Kinsale and GlaxoSmithKline (GLAX.NS). In March, Samsung Biologics announced a plan to invest 2 trillion won ($1.54 billion) through September 2025 to build a new factory in South Korea.

Persons: Samsung Biologics, Eli Lilly Kinsale, 1,302.8100, Hyunsu Yim, Ed Davies Organizations: Samsung, Pfizer, Samsung Group, GlaxoSmithKline, Samsung Biologics, Thomson Locations: SEOUL, South Korea

☆ China remains important to Samsung Group, says analyst
▼ + stars: | 2023-03-27 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChina remains important to Samsung Group, says analystSK Kim of Daiwa Securities Capital Markets discusses the outlook for South Korea's semiconductor industry.

SEOUL, Oct 30 (Reuters) - With "Hooker Hill" and snaking alleyways of bars with signs like "BADASS" around the local landmark Hamilton Hotel, Seoul's Itaewon district was a symbol of freewheeling nightlife in the South Korean capital for decades, before tragedy struck. "This happened right at the moment when we were about to rebound after being hammered by the pandemic," said Lee, who has operated Itaewon businesses for three decades. A mysterious killing called the "Itaewon Murder" and other crimes in the late 1990s painted a dark image of the area. The district has been a recurrent theme in popular culture, with a recent hit drama "Itaewon Class" and K-pop song "Itaewon Freedom". They won't," said Park, who has run businesses in the district for nearly 30 years.

☆ Samsung boss Jay Y. Lee to build on late father's legacy
▼ + stars: | 2022-10-27 | by ( Joyce Lee | ) www.reuters.com time to read: +5 min

Lee, 54, has been vice chairman of Samsung Electronics, the crown jewel of South Korea's biggest business conglomerate, since 2012. That is a major business risk for Samsung, which counts both China and the United States as major markets. But Samsung insiders say his quiet, urbane manner disguises a steely determination Lee will need if he is to grow Samsung. As an only son, Lee was groomed by his father to take over the core business of Samsung Group, which his grandfather founded in 1938. Shares in construction affiliate Samsung C&T (028260.KS), in which Lee owns a 18% stake, rose as much as 7.1%.

☆ Samsung Elec names Jay Y. Lee executive chairman
▼ + stars: | 2022-10-27 | by ( ) www.reuters.com time to read: 1 min

SEOUL, Oct 27 (Reuters) - Samsung Electronics' (005930.KS) de facto leader Jay Y. Lee has been named executive chairman of the company, it said on Thursday, a symbolic move heralding that South Korea's most valuable company will be officially run by the third generation of its founding family. The change reflects a role Lee has held since his father, the late patriarch and Samsung Group chairman Lee Kun-hee, was hospitalised in 2014 and died in 2020, analysts said. Lee, 54, has been vice chairman of Samsung Electronics, the crown jewel of South Korea's biggest business conglomerate, since 2012. Reporting by Joyce Lee; Editing by Christian Schmollinger and Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

☆ Samsung Electronics names Jay Y. Lee executive chairman
▼ + stars: | 2022-10-27 | by ( ) www.cnbc.com time to read: +1 min

Samsung Electronics' de facto leader Lee Jae-yong during U.S. President Joe Biden's visit on May 20, 2022 in Pyeongtaek, South Korea. Samsung Electronics ' de facto leader Jay Y. Lee was named executive chairman on Thursday, a symbolic move confirming that South Korea's most valuable company will be officially run by the third generation of its founding family. The change reflects a role Lee, 54, has held since his father, the late patriarch and Samsung Group chairman Lee Kun-hee, was hospitalized in 2014, analysts said. Lee has been vice chairman of Samsung Electronics, the crown jewel of South Korea's biggest business conglomerate, since 2012. "The Board cited the current uncertain global business environment and the pressing need for stronger accountability and business stability in approving the recommendation," Samsung said in a statement.

☆ These are the top 10 best employers in the world—and Amazon isn't one of them
▼ + stars: | 2022-10-18 | by ( Celia Fernandez | ) www.cnbc.com time to read: +1 min

Forbes and Statista, surveyed 150,000 full-time and part-time workers from 57 countries to determine the world's best employers. For the sixth year in a row, Forbes released its ranking of the world's best employers. 1 best employer in the world: Samsung GroupIndustry: Conglomerate Country: South Korea Employees: 266,673 The Samsung Group was founded in 1938 and is headquartered in Seoul, South Korea. According to Forbes, the tech company was also featured as one of the best employers for new grads. Top 10 best employers in the world

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