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April 17, 2015

Samsung launches screen division for Apple; Benetton Group falls short on factory disaster fund; and Hyundai to revamp outdated wage system

Samsung launches screen division for Apple

South Korea’s Samsung has created a standalone team of 200 employees that will work exclusively on screens for their largest competitor Apple, according to Bloomberg.

Apple is currently the biggest customer for Samsung components and relations between the two companies have improved since they dropped all lawsuits against each other outside of the US.

January 23, 2015

2014 was a lively year for family businesses, from Abigail Johnson’s succession at Fidelity, to the Market Basket ownership struggle and of course Korean Air’s infamous ‘nut rage’ incident. Here we take a look at some of the issues we think will remain top-of-mind for 2015 and the family businesses to watch.

2014 was a lively year for family businesses, from Abigail Johnson’s succession at Fidelity, to the Market Basket ownership struggle and of course Korean Air’s infamous ‘nut rage’ incident. Here we take a look at some of the issues we think will remain top-of-mind for 2015 and the family businesses to watch.

1: Shareholder revolts

January 16, 2015

Li Ka-shing restructures business empire, shares soar; Samsung crushes rumours of $7.5 billion Blackberry bid

Li Ka-shing restructures business empire, shares soar

Share prices at Hong Kong-based conglomerate Hutchinson Whampoa and property giant Cheung Kong Holdings rose dramatically on Monday following reports of a multi-billion dollar corporate restructure by owner Li Ka-Shing.

As a result, Cheung Kong's shares were up in Hong Kong as much as 14% in afternoon trading on Monday, while Hutchison Whampoa's shares surged more than 12%. 

November 27, 2014

Samsung announced $2 billion share buyback scheme; African family business secures stake in new Coca-Cola operation; and Dalian Wanda seek approval for $6 billion IPO. 

Samsung announced $2 billion share buyback scheme

Family-owned chaebol Samsung has announced a $2 billion share buyback plan following calls from investors to improve returns.

The largest smartphone maker in the world said it would buy back 1.65 million common shares and 250,000 preferred shares – the second-largest buyback in the firm’s history, according to Reuters.

November 20, 2014

Samsung retires $2.5 billion proposed merger; Ikea doubles down on wind deal; and BMW and Daimler commit to Mexico supply deal

Samsung retires $2.5 billion proposed merger

South Korea’s largest family-owned conglomerate Samsung Heavy Industries has scrapped a proposed $2.5 billion (€1.99 billion) takeover of Samsung Engineering due to shareholder opposition.

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.

September 25, 2013

Two next-gen sisters within the Samsung Group have reorganised their respective branches of their family conglomerate, selling the apparel business of Cheil Industries to another subsidiary within the group.

Two next-gen sisters within the Samsung Group have reorganised their respective branches of their family conglomerate, selling the apparel business of Cheil Industries to another subsidiary within the group.

The apparel business – headed by Lee Seo-hyun, second daughter of Samsung Group chair Lee Kun-hee – will be transferred to Samsung Everland, led by her elder sister, Lee Boo-jin, in a KRW1.5 trillion deal (€1 billion). The deal is due to be completed by December.

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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