hanwha

Family Business Roundup: Faber-Castell, Walmart, and Hanwha Group

December 11, 2015

Mary von Faber-Castell appointed to Faber-Castell board; Walmart Launches mobile payment system for smartphones; and Hanwha promotes chairman’s eldest son

Mary von Faber-Castell appointed to Faber-Castell board

Countess Mary von Faber-Castell, the wife of Count Anton-Wolfgang von Faber-Castell, CEO of the eponymous stationary manufacturer, will be appointed to the firm’s management board early next year, according to a company statement.

The countess is set to become the fifth member of the board but will continue to head up the cosmetics division, where she previously held the role of managing director.

Korean chaebols lunch with president

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.

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.

South Korean family business head jailed for four years

August 16, 2012

Kim Seung-Youn, chair of South Korean conglomerate Hanwha, has been jailed for four years and fined 5.1 billion Korean won (€3.7 million) after being found guilty of embezzlement.

The 60-year-old head of the family business, whose operations range from manufacturing and construction to financial services, was sent directly to jail following the ruling by a South Korean court today.