WINNERS & LOSERS
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Samsung Electronics
, Koreas largest technology company, has solidified its leadership in the global premium television market. According to market research firm Display Search, Samsungs premium widescreen television sales accounted for 40 percent of the world market, higher than the combined sales of its three competitors: Sharp, Visio and Sony. Samsung sold 16.11 million units of widescreen televisions in the fourth quarter of last year.
SK Group
, the nations third-largest conglomerate, plunged into confusion Thursday following the Supreme Courts decisions to uphold the prison sentences for the groups top two managers. Koreas highest court finalized a four-year prison term for Chey Tae- won, and three-and-a-half years for his younger brother Chey Jae-won. The Chey brothers were accused of embezzling tens of billions of won from group affiliates. The junior Chey had been found not guilty of embezzlement at a lower court last year, but the appeals court reversed the ruling.
SK said it will make an effort to minimize the managerial gap resulting from their absence.
Asiana Airlines
, Koreas second biggest airline, said Wednesday that it was fined 500,000 for failing to assist the family members of the victims on its aircraft that crashed at San Francisco Airport in July, which left three dead and 180 injured. The U.S Department of Transportation said Asiana failed to promptly inform passengers families after the fatal crash and took five days to contact the families of all 291 passengers. In addition, Asiana failed to set up an emergency hotline for them. This marked the first time that the U.S government imposed a penalty on an airline for an inadequate response following an airplane crash.
Hyundai Motor
, Koreas largest carmaker, may have to pay 100 billion won to customers for exaggerating the fuel efficiency of its vehicles. The Ministry of Land, Infrastructure and Transport said Monday that the companys Santa Fe sports utility vehicle failed to meet fuel efficiency standards last year. The ministry found that the company inflated its fuel efficiency by 10 percent from what it reported to the ministry. However, Hyundai Motor asked the ministry for a retest, pointing out its vehicles passed a fuel efficiency test conducted earlier by the Ministry of Trade, Industry and Energy.