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Samsung heir will not hand over managerial power to children

By AsiaToday reporter Hwang Eui-joongSamsung Electronics heir and Vice Chairman Lee Jae-yong made a public apology Wednesday over wrongdoings related to his succession and promised not to hand over managerial powers to his children. It is extremely rare for a Korean chaebol leader to publicly state that they will not pass the business group to their children..

Hyundai Motor to shut down all local production lines
AsiaToday reporters Park Byung-il & Lee Sang-wonHyundai Motor, one of South Korea’s largest carmakers, will temporarily shut down its local production..

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