Gold and Silver Prices Slide as Dollar Strength and Easing Tensions Weigh on Metals 
Alphabet’s Massive AI Spending Surge Signals Confidence in Google’s Growth Engine 
SpaceX Pushes for Early Stock Index Inclusion Ahead of Potential Record-Breaking IPO 
Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised 
South Africa Eyes ECB Repo Lines as Inflation Eases and Rate Cuts Loom 
American Airlines CEO to Meet Pilots Union Amid Storm Response and Financial Concerns 
Baidu Approves $5 Billion Share Buyback and Plans First-Ever Dividend in 2026 
Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks 
Russian Stocks End Mixed as MOEX Index Closes Flat Amid Commodity Strength 
CK Hutchison Launches Arbitration After Panama Court Revokes Canal Port Licences 
Fed Governor Lisa Cook Warns Inflation Risks Remain as Rates Stay Steady 
Japan Economy Poised for Q4 2025 Growth as Investment and Consumption Hold Firm 
Dollar Steadies Ahead of ECB and BoE Decisions as Markets Turn Risk-Off 
Dow Hits 50,000 as U.S. Stocks Stage Strong Rebound Amid AI Volatility 
South Korea Assures U.S. on Trade Deal Commitments Amid Tariff Concerns 
Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate 
Bank of Japan Signals Readiness for Near-Term Rate Hike as Inflation Nears Target 
Hanssem Co. Ltd., a Korea-based company that makes and sells home furniture, just replaced its chief executive officer to improve the company's performance. It appointed Eugene Kim to lead the group and work on increasing profitability so Hanssem could bounce back.
A company official confirmed this week that Hanssem has a new CEO. The company has to find a new chief as it continues to have difficulties in staying in the game. It was noted that Hanssem had to let go of Kim Jin Tae just a year after he took over the office as chief.
Hanssem determined that it needed someone to rescue the company that was facing a decline thus, it decided to hire a new CEO who can help the firm better. According to The Korea Times, one of the main reasons for the executive change is the CEO’s failure to improve sales despite his efforts.
While Kim Jin Tae worked hard to revive Hanssem, the firm continued to lose money instead. Hanssem published its first annual operating loss since its local stock market listing in 2022. This turned into a deficit, with the furniture maker posting an operating loss of KRW21.7 billion or about $16.82 million on a consolidated basis.
"The domestic interior market has been downsized due to a sharp drop in house sales. At the same time, the costs incurred in the process of pursuing a remodeling business strategy increase,” Lee Eun Sang, a researcher at NH Investment & Securities, commented on Hanssem’s situation. "It is difficult for house sales to recover in a short period of time, so it will take some more time for the company to improve profitability."
Meanwhile, Pulse News reported that Hanssem’s new CEO is a computer science graduate of the Korea Advanced Institute of Science and Technology (KAIST), a popular national research university in South Korea. Eugene Kim also earned his master’s degree from another prestigious school in the country - Seoul National University‘s Graduate School of Business. Prior to her appointment at Hanssem, she worked at the Boston Consulting Group, Inc. and IMM Private Equity.
Photo by: Hanssem Co. Website
