The hospitalization of Lee Kun Hee, the 72-year-old head of Samsung Group that includes Asia’s biggest technology company, has heightened scrutiny of succession planning at South Korea’s family-run conglomerates as they hand control to the next generation.
Hyundai Motor Co. Chairman Chung Mong Koo was ordered by a court to pay the company 74.6 billion won ($66 million) for unfairly helping affiliates at the expense of the automaker he’s led for a decade.
Hyundai Motor Co. Chairman Chung Mong Koo revealed his salary for the first time after South Korea stepped up disclosure rules for executive pay to enhance transparency at the nation’s family-run business empires.
A decade-long feud that split one of South Korea’s most powerful families now puts a former Girl Scout leader against the nation’s second-wealthiest man in a $2.5 billion fight for the country’s biggest construction company.
Ted Chung, chief executive officer of South Korea’s biggest consumer finance company, was on a business trip in Copenhagen in April 2011 when his deputy called in a panic. Hackers had broken into computer servers at Hyundai Capital Services Inc., stealing customers’ personal information. Stunned, Chung hopped the Hyundai jet back to Seoul.