Journalist

Lee Hyo jung
  • Samsung Chairman Lee Jae-yongs stock wealth surges $2.7 billion
    Samsung Chairman Lee Jae-yong's stock wealth surges $2.7 billion SEOUL, October 01 (AJP) - Samsung Electronics Chairman Lee Jae-yong added more than 3.7 trillion won ($2.7 billion) to his stock wealth in the third quarter, cementing his position as South Korea’s richest corporate leader by equity holdings, according to new data released Tuesday. The Korea CXO Institute reported that the market value of Lee’s shares rose 24.4 percent from 15.25 trillion won at the end of June to 18.98 trillion won by the end of September, driven by a rebound in Samsung Electronics’ share price. Lee tops a group of 16 South Korean executives whose individual stock holdings exceed 1 trillion won. He is followed by Seo Jung-jin, honorary chairman of Celltrion, with 11.13 trillion won, and Kim Beom-su, founder of Kakao, with 6.28 trillion won. Hyundai Motor Group Chairman Chung Eui-sun and HYBE’s Bang Si-hyuk round out the top five. Overall, the combined stock wealth of 45 major business leaders climbed from 74 trillion won at the end of June to 78.3 trillion won by September, an increase of more than 4.27 trillion won. Other notable gains included Cho Hyun-joon of Hyosung, whose holdings rose 23.4 percent to 2.25 trillion won, and Lee Yong-han of Wonik, who saw the largest percentage jump, with his stock value nearly doubling to 3.26 trillion won. Not all leaders benefited. Chung Mong-kyu of HDC saw his stock wealth fall 24.6 percent to 4.62 trillion won, while HYBE’s Bang Si-hyuk recorded the steepest monetary loss, with his holdings shrinking by 565.5 billion won to 3.5 trillion won. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-01 14:30:46
  • LG Elec eyes $1.8 bn Indian IPO, third largest in India for 2025
    LG Elec eyes $1.8 bn Indian IPO, third largest in India for 2025 SEOUL, October 01 (AJP) - The Indian unit of South Korea’s household white-goods giant LG Electronics has set its initial public offering (IPO) price band at ₹1,108 to ₹1,140 per share, targeting up to $1.8 billion in proceeds. The listing, scheduled for Oct. 14, marks the third-largest IPO in India this year and second largest Korean IPO in the country following last year’s $3.3 billion Hyundai Motor India listing. Like Hyundai, LG’s IPO will be structured entirely as an offer for sale (OFS), with the Korean parent divesting a 15 percent stake—over 101 million shares—in its Indian subsidiary. Under the OFS format, no new equity will be issued, meaning the Indian unit itself will not receive funds from the flotation. If priced at the upper end of the band, LG Electronics India would command a valuation of over $12 billion. Proceeds will be channeled into future growth strategies at the group level, including equity investments, mergers and acquisitions, and B2B expansion aimed at bolstering long-term competitiveness. Some of the funds may also return to shareholders. India’s fast-growing home appliance market underpins LG’s confidence. Despite its 1.4 billion population, penetration of refrigerators, washing machines, and air conditioners remains relatively low, leaving substantial room for growth. Since its entry in 1997, LG has built an extensive local presence with two manufacturing bases, 51 regional offices, and more than 780 branded shops. A third factory at Sri City is underway to expand production capacity. Analysts expect LG to leverage IPO proceeds into strategic investments and partnerships, including backing promising startups and pursuing M&A opportunities, as it positions itself for the next decade of competition in India’s booming consumer market. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-01 11:07:52
  • American business chamber raises alarm over contentious union law
    American business chamber raises alarm over contentious union law SEOUL, September 19 (AJP) - The head of the American Chamber of Commerce in Korea urged the South Korean government on Friday to take industry concerns into account as it prepares to implement the so-called Yellow Envelope Act, a contentious new labor law that has become a flashpoint in the country’s corporate sector. AMCHAM Korea Chairman James Kim said the chamber would soon present policy recommendations to the Ministry of Employment and Labor, which has formed a task force to review how the law should be applied. Speaking at the chamber's “Executive Roundtable Series” meeting at the Conrad Seoul Hotel in Yeouido, Kim was joined by Kwon Chang-jun, vice minister of employment and labor, along with senior executives from major Korean and multinational companies. The discussion centered on labor regulations and the broader challenges facing South Korea’s economy. The Yellow Envelope Act, passed by the National Assembly earlier this year, makes it harder for companies to seek damages from striking workers. Labor unions have long argued that South Korea’s corporations have abused damage claims and injunctions to weaken organized labor. Business groups, however, say the law erodes management rights, undermines legal deterrents against illegal strikes and complicates efforts to keep production running. At Friday's meeting, executives also called for stronger mediation and arbitration mechanisms to help resolve disputes before they escalate into prolonged strikes. Kim said, “To position South Korea as a key hub in the Asia-Pacific region, improving the overall business environment is essential, with labor flexibility at its core." Vice Minister Kwon, for his part, emphasized the importance of cooperation between labor and management, as well as between South Korean and foreign firms, to safeguard the country’s global competitiveness. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-09-19 14:18:10