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SPC opens first Paris Baguette store in Canada

People wait in line to purchase bakery items at a Paris Baguette store in Toronto, Wednesday. Courtesy of SPCBy Kim Jae-heunSPC, a Korean food manufacturer and confectionery, said its first Paris Baguette store in Canada opened in Toronto, Wednesday.The 214-square-meter Yonge & Sheppard branch opened its doors on the first floor of Yonge Shopping Centre in Toronto. The store features a self-service system to help customers in the busy district choose and purchase products quickly.Canada, the world's second-largest franchise industry after the United States, is the 10th overseas country where SPC has opened Paris Baguette stores. Following its entry into the United Kingdom last October, SPC has been expanding its bakery chain business in the North American and European markets. Unlike in the U.S. where its Paris Baguette store was directly managed by the company, SPC opened a franchise store first in Canada. The food firm has been preparing to enter the Canadian market by accumulating franchise business know-how in the U.S. and establishing an overseas corporation in Canada. &ldqu

Mar 23, 2023By Kim Jae-heun
SPC opens first Paris Baguette store in Canada
Companies

Retailers rush to adopt Apple Pay system

A customer buys ice cream using Apple Pay's service at a Baskin-Robbins store in Seoul, Wednesday. Courtesy of SPCBy Kim Jae-heunLocal retailers are preparing to introduce Apple Pay at their stores as the long-awaited mobile payment service has finally landed in Korea, industry officials said Wednesday. SPC Group's information technology service and marketing subsidiary Secta9ine has already adopted the Apple Pay system at more than 7,000 SPC-affiliated brand stores nationwide, including Paris Baguette, Baskin-Robbins, Dunkin and Caffe Pascucci. “We introduced the Apple Pay system in SPC stores across the country to provide a convenient customer experience for iPhone users centered on the MZ Generation. We will continue making efforts to provide our customers with more diverse and distinctive benefits through our innovative service,” a Secta9ine official said. Secta9ine developed the near-field communication (NFC) payment terminals installed at SPC stores in conjunction with a point-of-sales (POS) system and value-added network (VAN) to establish an infrastructure optimiz

Mar 23, 2023By Kim Jae-heun
Retailers rush to adopt Apple Pay system
Companies

Consumers choose to travel abroad over purchasing luxury goods

Passengers check in at Incheon International Airport to travel to Japan on March 1. YonhapBy Kim Jae-heunA 33-year-old office worker surnamed Kil living in Seoul recently booked a flight to Bali. He decided to go on a trip as soon as he got permission to travel abroad from his company as the COVID-19 pandemic travel restrictions eased around the world.“Every year, I give myself a present. I got a Burberry coat and Lemaire shoes during the COVID-19 pandemic, because I couldn't travel abroad,” Kil said. “Now, I feel it's safe to go to another country and I am going to treat myself with a trip to Indonesia's most popular tourist spot this summer.”Another 33-year-old freelancer surnamed Lee in Seoul is planning to go to Japan with his friends. “I heard luxury shopping is much cheaper in Japan than Korea these days. Luxury goods became too expensive here in the last few years,” he said. “There is no reason to buy them in Korea when I can go on a trip to Tokyo and shop for clothing at a cheaper price there at the same time.”Luxury goods enjoy

Mar 22, 2023By Kim Jae-heun
Consumers choose to travel abroad over purchasing luxury goods
Companies

Outback Steakhouse sees sales soar as it opens stores in large shopping malls

Outback Steakhouse's new restaurant at Times Stream in Sillim, Seoul / Courtesy of BHCBy Kim Jae-heunOutback Steakhouse's four new restaurants that have moved into nearby shopping mall complexes as part of its relocation strategy, saw their monthly sales jump up to 70 percent on average in 2022 from the previous year, the company said Tuesday.Outback Steakhouse was acquired by local fried chicken franchise BHC in November 2021. Since then, the steak restaurant chain has adopted the new business plan of opening new stores mainly at large shopping mall complexes to attract more patrons.Opening Outback Steakhouse restaurants at large shopping centers solves the parking problem often faced by customers as well as their concerns over bad weather conditions outdoors, the company said, adding that it allows customers to enjoy other activities such as shopping and watching movies at the malls after dining.“After the company adopted its relocation strategy, Outback Steakhouse not only saw its new restaurants' revenue increase but also the customer satisfaction,” an Outback Steakho

Mar 22, 2023By Kim Jae-heun
Outback Steakhouse sees sales soar as it opens stores in large shopping malls
Companies

Lotte desperate to win LVMH Chairman Arnault's heart

Lotte Group Chairman Shin Dong-bin, left, walks with LVMH Chairman Bernard Arnault at Lotte Avenuel Mall in Jamsil, southern Seoul, Monday. Courtesy of Korea Times readerBy Kim Jae-heunLVMH Moet Hennessy Louis Vuitton Chairman Bernard Arnault is a global fashion magnate who owns dozens of world-class luxury brands such as Louis Vuitton, Dior, Tiffany & Co. and Dom Perignon. The chairman made regular visits to Korea between 2016 and 2019 until the pandemic. These visits have always drawn attention among local fashion firms' chiefs. A good opportunity arose for them to invite Arnault to their department stores and discuss business on the spot. In 2010, Hotel Shilla CEO Lee Boo-jin went to Incheon International Airport herself to greet Arnault and successfully convinced him to open a Louis Vuitton boutique at her duty free shop ― beating out rival Lotte Duty Free. This time, Lotte stood in the front of the line to meet Arnault. On Monday, he visited Lotte Avenuel Mall in southern Seoul's Jamsil. Lotte Group Chairman Shin Dong-bin, accompanied by Lotte Shopping CEO Kim Sang-hyun and

Mar 21, 2023By Kim Jae-heun
Lotte desperate to win LVMH Chairman Arnault's heart
Companies

Osstem Implant to invite 1,500 dentists from 22 countries for training

Thai dentists visit Osstem Implant's headquarters in Seoul on March 18. Courtesy of Osstem ImplantBy Kim Jae-heunOsstem Implant will invite 1,500 dentists from 22 countries including China, Japan, Germany, Brazil and Australia to its headquarters in Seoul for large-scale clinical training this month, Korea's largest dental implant maker said on Monday. Global implant clinical authorities including professors at Seoul National University's School of Dentistry will hold lectures and field practicums for the invited dentists. The company plans to provide its digital equipment such as oral scanners, dental 3D printers and implant placement tools to help participants better understand digital dentistry, which improves the success rate, safety and efficiency of surgical procedures. “Until the 1980s, Korean dentists paid high tuition fees for implant training in Europe, mainly in Germany. But this year, some 180 European dentists are coming to Korea to receive the training,” said Cho In-ho, director of Osstem Implant Dental Research & Education Center. “I am surprised

Mar 21, 2023By Kim Jae-heun
Osstem Implant to invite 1,500 dentists from 22 countries for training
Companies

Amorepacific President Lee Dong-soon vows to bolster presence in ASEAN, Japan, US

Amorepacific Group President Lee Dong-soon speaks during the company's regular general meeting of shareholders at the company's headquarters in Seoul, Friday. Courtesy of Amorepacific GroupBy Kim Jae-heunAmorepacific Group President Lee Dong-soon pledged to pioneer new markets in ASEAN countries, the United States and Europe while reducing its heavy reliance on China during a shareholders' meeting at company headquarters in Seoul, Friday.“We will achieve a turnaround by finding new businesses and markets based on the company's vision and strategy that reflect the changing of the times,” Lee said. “Last year, we faced continued business difficulties affected by high interest rates and rising living costs as well as the prolonged COVID-19 pandemic that resulted in an insufficient financial performance. Amorepacific Group's 2022 sales and operating profit showed 4.49 trillion won ($3.44 billion) and 271.9 billion won, respectively, down 15.6 percent and 23.7 percent, year-on-year. Its flagship subsidiary Amorepacific also saw its revenue fall 15 percent last year from

Mar 18, 2023By Kim Jae-heun
Amorepacific President Lee Dong-soon vows to bolster presence in ASEAN, Japan, US
Companies

Food firms sell direct to consumers amid growing retail conflicts

CJ CheilJedang's kimchi products are displayed on shelves at a large retail store in Seoul, Sept. 18, 2022. YonhapBy Kim Jae-heunLocal food companies are moving to strengthen their own online shopping malls to increase bargaining power against Coupang, Shinsegae, Lotte and other retailers as both sides have been engaged in a dispute over supply prices, according to industry officials Friday.In December, Coupang decided to halt its sales of CJ CheilJedang's popular Hetbahn instant rice and Bibigo's dumplings and kimchi on its platform as they failed to agree upon pricing. CJ CheilJedang wanted to enlarge profits by increasing the unit prices of its products sold to Coupang. But the e-commerce firm wanted to lower the prices to maximize its retail margins. The two companies are still unable to resolve their differences.Earlier this year, Lotte Mart, a retail store chain operated by Lotte Shopping, stopped selling products from CJ CheilJedang, Pulmuone and Daesang temporarily after they failed to agree on supply prices.In 2010, Nonghim and CJ CheilJedang were at odds with large retail s

Mar 17, 2023By Kim Jae-heun
Food firms sell direct to consumers amid growing retail conflicts
Companies

Paris Baguette, Tous Les Jours compete in US market

Customers buy bakery products at a Paris Baguette store in Red Bank, New Jersey, Feb. 6. Courtesy of SPC By Kim Jae-heunThe country's top two bakery chains Paris Baguette and Tous Les Jours are competing hard to expand in the United States, according to company officials Thursday.Unlike what many have predicted, Paris Baguette and Tous Les Jours have successfully targeted local customers to establish their presence in a country that consumes bakery products on a daily basis.“Our strength lies in offering a variety of products. We have about 300 different kinds of bakery items including sandwiches, bagels, croissants and donuts. We also serve products in small portions, so the customers can try every menu item at once,” a SPC official said. “These days, our whole cake products made with fresh cream are selling well. Our staff working in Manhattan stores told us that Paris Baguette cakes are much loved for their sophisticated designs.” SPC is the operator of Paris Bag

Mar 17, 2023By Kim Jae-heun
Paris Baguette, Tous Les Jours compete in US market
Companies

LG chairman stresses importance of recruiting talented people

LG Group Chairman Koo Kwang-mo speaks during the LG Tech Conference held at LG Science Park in Magok, Seoul, Thursday. YonhapBy Kim Jae-heunLG Group Chairman Koo Kwang-mo emphasized the importance of securing skilled workers in the research and development sector to remain innovative in technology, during the LG Tech Conference held at LG Science Park in southwestern Seoul's Magok-dong, Thursday. The event, which started in 2012 as part of the company's efforts to attract competent personnel, invited some 400 participants majoring in science and engineering to share LG's vision and the current status of its technological innovation.The chairman opened his speech by introducing LG AI Research Institute's artificial intelligence (AI) human, “Tilda.” “LG's dream is to give people a happy experience in their lives and make a better future and a world where they live smiling,” Koo said during the “LG Tech Conference” held at LG Science Park in southern Seoul's Magok-dong, Thursday. “To make this dream come true, technology, innovation and the skil

Mar 16, 2023By Kim Jae-heun
LG chairman stresses importance of recruiting talented people
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