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CEO & Publisher: Oh Young-jinDigital News Email: webmaster@koreatimes.co.krTel: 02-724-2114Online newspaper registration No: 서울,아52844Date of registration: 2020.02.05Masthead: The Korea TimesCopyright © koreatimes.co.kr. All rights reserved.

Genesis BBQ to expand Philippine outlets to 21 by year-end

Genesis BBQ, a Korean fried chicken franchise, said Friday it will increase the number of its outlets in the Philippines to 21 by the end of this year amid the growing popularity of Korean food. BBQ entered the Southeast Asian country in November 2022 by opening its first outlet in Manila. The number has since grown to 18, the company said in a press release. The company plans to add three more stores this year — one in Cebu, one in Baguio City and one in SM City North EDSA, a shopping mall in Quezon City. "Along with its signature fried chicken, BBQ has been offering Korean dishes such as bibimbap, tteokbokki, soft tofu stew and kimchi fried rice at its overseas outlets to attract customers," a company spokesperson said. Tteokbokki is a spicy street food made with rice cakes, while bibimbap is a dish of warm white rice topped with seasoned vegetables and chili pepper paste. BBQ is also preparing to open 10 additional outlets in the Philippines, a country of more than 110 million people, by the end of 2026, the release said. The company operates more than 2,300 outlets in Korea and about

Sep 5, 2025By Yonhap
Genesis BBQ to expand Philippine outlets to 21 by year-end

KKR acquires Korean cosmetics container maker for $526.6 mil.

Global investment firm Kohlberg Kravis Roberts & (KKR) has acquired a Korea Korean cosmetics container maker for 733 billion won ($526.6 million), industry sources said Friday. According to the sources, KKR has recently decided to acquire the entire stake in Samhwa owned by Tarrant Capital LLC (TPG), a U.S. alternative investment firm. TPG had acquired Samhwa for 30 billion won two years ago. Established in 1977 as a mold-making firm, Samwha manufactures cosmetic containers for various local and international brands. The acquisition comes as global private equity firms make aggressive investments in local companies within the beauty and wellness sector, amid the worldwide popularity of K-beauty products and services. On Tuesday, U.S. alternative asset manager Blackstone agreed to make a significant investment in local hair care business JUNO, though the financial terms of the deal were not disclosed.

Sep 5, 2025By Yonhap
KKR acquires Korean cosmetics container maker for $526.6 mil.

Hanwha's investment arm sells 4.27% stake in Hanwha Ocean for MASGA project

Hanwha Impact Partners, an investment affiliate of Hanwha Group, said Friday it has sold its remaining 4.27 percent stake in shipbuilder Hanwha Ocean worth about 1.4 trillion won ($1 billion). The move involved the sale of 13.08 million common shares at 107,100 won per share, according to a company regulatory filing. The buyers were mostly foreign institutional investors, with no Hanwha affiliates participating in the purchase. Hanwha Group said funds will be used for projects including the Make American Shipbuilding Great Again (MASGA) initiative, a Korea-U.S. shipbuilding cooperative project, as well as new investments and debt repayment. The share sale came after Hanwha pledged an additional $5 billion investment in Hanwha Philly Shipyard in Philadelphia during a Korea-U.S. summit held in Washington last month. "This move is part of efforts to support Hanwha Ocean's leap toward becoming a world-class shipbuilder," a group official said.

Sep 5, 2025By Yonhap
Hanwha's investment arm sells 4.27% stake in Hanwha Ocean for MASGA project

SK hynix retains No. 1 spot in global DRAM market in Q2: report

SK hynix has retained its lead in the global dynamic random access memory (DRAM) market in the second quarter, widening its gap with domestic competitor Samsung Electronics, industry data showed Friday. Global DRAM sales totaled $30.9 billion in the April-June period, up 17.3 percent from the previous quarter, amid rising DRAM contract prices and growing shipments of high bandwidth memory (HBM), according to the data from global market research firm Omdia. SK hynix's market share rose to 39.5 percent from 36.9 percent in the first quarter, maintaining the top position for the second consecutive quarter. Samsung Electronics saw its market share fall from 34.4 percent to 33.3 percent over the cited period. As a result, the gap between the two chipmakers widened from 2.5 percentage points to 6.2 percentage points. In terms of sales, SK hynix posted $12.2 billion in the second quarter, while Samsung trailed behind with $10.3 billion. SK hynix had claimed the top spot in the DRAM market in the first quarter for the first time since Samsung became the global leader in 1992. Another market tracke

Sep 5, 2025By Yonhap
SK hynix retains No. 1 spot in global DRAM market in Q2: report

Nongshim’s Shin Ramyun rides on ‘KPop Demon Hunters’ fame

Nongshim is attempting to ride the trend of Netflix’s smash-hit animation “KPop Demon Hunters” for its flagship instant noodle product Shin Ramyun to expand worldwide, especially with its competitor Samyang's Buldak instant noodles gaining ground globally. On Aug. 20, the leading instant noodle maker rolled out special packaging for its products, including its shrimp crackers and classic Shin brand instant noodles, to feature characters from “KPop Demon Hunters” for local and international distribution. The animated film about a K-pop girl group battling against supernatural danger has garnered massive success, becoming the most-watched title ever on the platform. With the animation's global fame, songs, food and fashion featured in the film have also been put in the international spotlight, including the instant noodles eaten by the main characters, which resembled Nongshim's classic Shin brand. The collaboration quickly generated buzz, as the company’s stock rose by 6.3 percent on the day of the announcement. Its stock closed at 426,500 won ($306) on Wednesday, an increase

Sep 5, 2025By Lee Gyu-lee
Nongshim’s Shin Ramyun rides on ‘KPop Demon Hunters’ fame

Hanwha Ocean apologizes for fatal accident involving Brazilian client at shipyard

Hanwha Ocean, a major Korean shipbuilder, on Thursday apologized for a fatal accident involving a supervisor from a Brazilian client company at one of its construction sites. On Wednesday, the Brazilian supervisor in his 30s died after falling from a vessel under construction at Hanwha Ocean's shipyard in Geoje, 398 kilometers southeast of Seoul, the company said. In a written apology, Hanwha Ocean Chief Executive Officer (CEO) Kim Hee-cheul expressed deep regret over the accident, and offered condolences to the Brazilian government and the shipping company. "Hanwha Ocean immediately suspended related operations on the vessel after the accident. We are working with relevant authorities to determine the exact cause and will take all necessary measures to prevent a recurrence," he said. The supervisor is believed to have fallen to his death while conducting a load test on the vessel's winch equipment, according to the company. It marked the first industrial accident reported by Hanwha Ocean this year, as the government moves to apply stricter safety regulations at construction sites. Hanwha

Sep 4, 2025By Yonhap
Hanwha Ocean apologizes for fatal accident involving Brazilian client at shipyard

HD Hyundai vice chair inspects shipyard to ensure safety

HD Hyundai Executive Vice Chairman Chung Ki-sun on Thursday inspected its shipyard in the nation’s southwestern county of Yeongam to raise awareness of its safety-driven growth. During the visit to HD Hyundai Samho’s shipyard in South Jeolla Province, Chung pledged to increase the budget for safety management. “We will never trade safety for anything,” Chung said during a meeting with HD Hyundai Samho’s top executives and safety officials, including CEO Kim Jae-eul and staff responsible for overseeing safety at the facility. “Under any circumstances, we will place the highest priority on the lives of our employees." He also urged the firm’s executives to carry out their management activities in the field. “Any decisions and actions by leaders have a significant influence on building a safety-driven corporate culture,” Chung said. Toward that end, the company pledged to invest 3.5 trillion won ($2.51 billion) by 2030 to enhance the safety of its production lines. The budget will be spent on establishing advanced safety systems and facilities, HD Hyundai said. The company al

Sep 4, 2025By Lee Min-hyung
HD Hyundai vice chair inspects shipyard to ensure safety

MASGA fuels job loss fears in Korea, US

Shipyard workers in both Korea and the United States are expressing concerns about their job security following the two countries' agreement to strengthen cooperation in the shipbuilding sector through the so-called Make American Shipbuilding Great Again (MASGA) project, a $150 billion initiative aimed at revitalizing U.S. shipyards with Korean investments. Korean workers remain anxious over U.S. President Donald Trump’s request for Korean companies to build ships in U.S. territory using American labor, while their U.S. peers have criticized his proposals to purchase ships from Korea. As uncertainties persist over how Korea will raise money and invest in the U.S. shipbuilding industry, calls are growing in both countries to protect shipyard jobs. "MASGA will be impossible without the hands and skills of Korean workers," HD Hyundai Heavy Industries’ union said Wednesday as some of its members fear workforce reductions at the company’s Ulsan shipyard. Hanwha Ocean’s union also cautioned against a rosy outlook for MASGA. Ahead of the Korea-U.S. summit on Aug. 25, the Korean Metal Wor

Sep 4, 2025By Park Jae-hyuk
MASGA fuels job loss fears in Korea, US

G-Class special edition

Former footballer Cha Bum-kun, center, poses with the Mercedes-Benz G-Class Edition STRONGER THAN THE 1980s at a service center in Seoul, Thursday, alongside former baseball player Choo Shin-soo, right, and actor Lee Dong-whi. Mercedes-Benz Korea plans to sell 25 G 450 d limited-edition models in the local market. Courtesy of Mercedes-Benz Korea

Sep 4, 2025By Lee Min-hyungphoto
G-Class special edition

Starbucks Korea sees 50% jump in customers with ‘One More Coffee’ coupon

Starbucks Korea said Wednesday that customers using its “One More Coffee” program surged by 50 percent from the previous week after the company expanded the benefit to mark a membership milestone. The program, which usually covers five beverages — brewed coffee, iced coffee, Americano, cafe latte and cold brew — offers a 60 percent discount coupon for a second drink. Until now, the discounted second cup was limited to brewed coffee and Americano drinks. Starting Sept. 1, to celebrate reaching 15 million members, Starbucks expanded the promotion to all menu items for the month. The result was a sharp increase in customers opting for a second drink. Data showed that 80 percent of the coupons were used after 1 p.m., with decaf Americano and half-decaf Americano accounting for 60 percent of redemptions. With the coupon, a tall-size decaf drink cost 2,000 won ($1.5). Starbucks also added a weekend promotion for September: customers ordering delivery worth 20,000 won or more through its mobile app will receive free delivery, and the “One More Coffee” coupon can be used in combinati

Sep 4, 2025By Hankookilbo
Starbucks Korea sees 50% jump in customers with ‘One More Coffee’ coupon
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