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    Fried chicken chain bhc expands US footprint with first Virginia restaurant

    Korean fried chicken giant bhc is planting its flag in one of the Washington metropolitan area’s busiest commercial hubs, anchoring its latest push into the United States with its first Virginia location. The chain, operated by Dining Brands Group, said Monday it opened its Arlington location in the Ballston neighborhood of Arlington County, marking its debut in Virginia as the company continues to broaden its North American presence. The restaurant is located near offices, residential complexes, shopping centers and recreational facilities, with convenient access to the Ballston-MU Metro station. The company said the area, which borders Washington across the Potomac River, attracts a steady mix of office workers, residents and visitors, making it a strategic location for growth. The approximately 169-square-meter restaurant offers full-service dining with 32 seats across 15 tables. Its menu has been tailored to local dining preferences, featuring wing- and tender-based combo meals, chicken sandwiches, Crispy Bun sandwiches, cheese balls and fries. Reflecting the popularity of dipping sa

    2 MIN READBy Lee Kyung-min
    Fried chicken chain bhc expands US footprint with first Virginia restaurant
  • Tech & Science

    Science ministry vows $650 bil. investment in AI data centers

    2 MIN READBy Yonhap
    Science ministry vows $650 bil. investment in AI data centers
  • Others

    Korea launches K-Chicken Belt to boost gastronomy tourism

    3 MIN READBy Ko Dong-hwan
    Korea launches K-Chicken Belt to boost gastronomy tourism
  • Companies

    Samsung, partner firms sign agreement for mutual growth

    2 MIN READBy Nam Hyun-woo
    Samsung, partner firms sign agreement for mutual growth
  • Companies

    CU in China: Why South Korean retail giant is adopting 'online first' strategy

    3 MIN READBy SCMP
    CU in China: Why South Korean retail giant is adopting 'online first' strategy
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Banking & Finance

Lotte Insurance, financial authorities head for courtroom showdown

Lotte Insurance has decided to launch a full-scale confrontation with financial authorities by pursuing legal action over the Nov. 5 decision to place the insurer under prompt corrective action, one of Korea’s most stringent regulatory measures for financial institutions, company officials said Wednesday. The insurer had faced repeated concerns over its financial stability, prompting the Financial Services Commission (FSC) to step in with disciplinary measures. Legal disputes between financial institutions, which operate under strict regulatory oversight, and their supervisory body are highly uncommon. The prompt corrective action system was introduced in 1997 during the Asian financial crisis to prevent the insolvency of financial institutions. It is designed to detect early signs of financial distress and guide companies toward management improvements before problems escalate. The system encourages authorities to intervene preemptively to contain potential risks, as the bankruptcy of a financial institution can trigger instability across the financial market. The system consists of t

Nov 12, 2025By Jun Ji-hye
Lotte Insurance, financial authorities head for courtroom showdown
Companies

Korea’s carbon neutrality drive questioned by auto industry experts

The government’s much-hyped carbon neutrality pledge is seen by many experts and industry officials as unrealistic and rash, particularly in the era of eco-friendly mobility, as it lacks a concrete roadmap and sufficient investment in supporting infrastructure. According to the Presidential Commission on Carbon Neutrality and Green Growth, the government plans for electric and hydrogen vehicles to represent more than 40 percent of new car sales by 2030, increasing to 70 percent by 2035. As of 2024, electric vehicles (EVs) and hydrogen cars accounted for just 9.2 percent of Korea’s total auto sales, according to data from the Korea Automobile Manufacturers Association. This has raised doubts about whether the government can achieve its target in such a short time without significant policy support. Experts point out that the focus should be on ensuring a sustainable electricity supply for such a large number of EVs. They say the government should avoid making what appears to be a populist pledge and instead develop a more practical roadmap for expanding eco-friendly mobility in the c

Nov 12, 2025By Lee Min-hyung
Korea’s carbon neutrality drive questioned by auto industry experts
Banking & Finance

Hanwha Life invites Vietnamese fintech talent for financial innovation program

Hanwha Life Insurance has invited 30 outstanding students from Vietnam for a five-day program focused on financial innovation, the firm said Wednesday. The program, which began Monday, is part of the insurer’s global corporate social responsibility initiative, FuturePlus. The selected participants include winners of the Vietnamese Olympiad in Informatics, top students from the fintech department at the Vietnam-Korea University of Information and Communication Technology (VKU) and scholarship recipients in finance and ICT from Ho Chi Minh City University of Technology. A welcoming ceremony was held Tuesday at the insurer’s headquarters at the 63 Building in Seoul. The participants then visited Hanwha Life’s open innovation hub, DreamPlus Gangnam, where they explored Korea’s dynamic startup ecosystem and observed fintech innovation firsthand. They also attended lectures organized by Hanwha Life’s artificial intelligence (AI) division and external experts on topics such as AI-driven innovation in insurance services. On Wednesday, the group visited Korea University and Sogang Univer

Nov 12, 2025By Jun Ji-hye
Hanwha Life invites Vietnamese fintech talent for financial innovation program
Companies

Genesis BBQ signs deal to open first restaurant in South Africa

Major fried chicken brand Genesis BBQ has signed a deal to open its first restaurant in South Africa, marking the start of its expansion across the African continent. The takeout and restaurant franchise said Wednesday that it signed a master franchise agreement with Good Tree South Africa, a distributor of Korean food products in the country. Genesis BBQ Chairman Yoon Hong-geun and Good Tree South Africa CEO Lee Dong-il attended the signing ceremony at the Korean company’s headquarters in Seoul’s Songpa District on Nov. 5. Under the agreement, Good Tree South Africa will operate Genesis BBQ’s restaurants in the country and pay royalties to the Korean company. South Africa, with a population of over 63 million and a median age of 28, offers high growth potential for the restaurant market, according to Genesis BBQ. The company cited the 2024 SAPA Annual Report published by the South African Poultry Association, which showed that the country’s average per capita annual chicken consumption was 36 kilograms. According to the company, this figure accounts for more than half of the tota

Nov 12, 2025By Ko Dong-hwan
Genesis BBQ signs deal to open first restaurant in South Africa
Tech & Science

LG Energy Solution teams up with US firm for aerospace battery cell

LG Energy Solution has teamed up with United States startup South 8 to jointly develop space-rated lithium-ion batteries, the Korean battery giant said Wednesday. LG Energy Solution and South Technologies signed a “strategic partnership for aerospace battery cell research and development.” The agreement marks LG Energy Solution's foray into the aerospace battery market, which requires technologies that can withstand harsh environments including extreme low temperatures. Founded in 2013, South 8 specializes in electrolyte, a key material for rechargeable batteries. It was recognized as one of TIME magazine’s Best Inventions of 2024 with its world's first liquefied gas electrolyte, LiGas. LiGas replaces conventional liquid electrolyte in lithium-ion cells, enabling ultra-low temperature operation down to minus 60 degrees Celsius, significantly outperforming conventional liquid electrolytes that struggle below minus 20 degrees Celsius. LiGas batteries also has shorter burning time compared to conventional lithium-ion batteries. LiGas also has the potential to drastically improve batte

Nov 12, 2025By Nam Hyun-woo
LG Energy Solution teams up with US firm for aerospace battery cell
Companies

POSCO to invest $750 mil. to secure lithium from Australia, Argentina

Korean steelmaker POSCO Group said Wednesday it will invest 1.1 trillion won ($750 million) to secure lithium resources in Australia and Argentina to bolster its rechargeable battery materials business. POSCO will acquire a 30 percent stake in a subholding company to be established by Australian miner Mineral Resources (MinRes) for 1 trillion won, the company said in a press release. The investment will allow POSCO to secure 270,000 tons of lithium concentrate per year from the Wodgina and Mt. Marion mines operated by MinRes in Western Australia. The supply is sufficient to produce 37,000 tons of lithium hydroxide, enough for about 860,000 electric vehicles (EVs), it said. "POSCO Group views the energy materials business as a core growth driver alongside our steel operations, and we are committed to securing a stable, cost-competitive supply of raw materials to enhance our long-term competitiveness," POSCO Holdings Chief Executive Chang In-hwa said. MinRes Chairman Malcolm Bundey said the investment marks a milestone for the Australian lithium industry. This first-of-its-kind investment b

Nov 12, 2025By Yonhap
POSCO to invest $750 mil. to secure lithium from Australia, Argentina
Companies

Mobility sector emerges as new cash cow for Samsung

The mobility industry is emerging as a new cash cow for Samsung Group, with its affiliates taking proactive approaches to supply chips, batteries, displays and other electric or electronic parts for global carmakers. According to industry officials on Tuesday, Samsung Electronics Executive Chairman Lee Jae-yong is set to have a meeting with Mercedes-Benz Group Chairman Ola Kallenius during the latter's visit to Seoul for a Mercedes-Benz conference on Friday. Lee is expected to be accompanied by Samsung SDI CEO Choi Joo-sun, Samsung Display CEO Yi Chung and other executives of key Samsung affiliates, implying that the meeting will likely cover a broader range of cooperation between the Korean conglomerate and the German auto giant over chips, batteries, displays and other auto parts. Their partnership has been mostly centered on Harman, a Samsung Electronics subsidiary that has been supplying premium car audio systems and the Mercedes-Benz User Experience infotainment system. While Samsung Electronics supplies the Mercedes-Benz digital key through Samsung Wallet and Samsung Display provid

Nov 12, 2025By Nam Hyun-woo
Mobility sector emerges as new cash cow for Samsung
Companies

K-culture takes over NY, NJ: Korea Brand Expo draws massive crowds, biz deals

EAST RUTHERFORD, N.J. — The Korea Brand & Entertainment Expo 2025 New York marked another chapter in the global expansion of Korean culture, products and entertainment, highlighting how the popularity of K-culture is increasingly translating into real economic value. Hosted by the Trade Ministry and state-run Korea Trade-Investment Promotion Agency, the expo, held from Thursday through Saturday (local time) at the American Dream shopping mall in New Jersey, underscored the enduring global popularity of K-culture, also known as "hallyu" or the Korean wave, attracting hundreds of businesses and tens of thousands of visitors to the event. It demonstrated that the Korean wave is no longer just a cultural trend, but a significant driver of business and consumer goods, boosting sales of everything from agricultural and food products to household goods, cosmetics and fashion. The annual expo, now in its 25th year, serves as a platform for Korean entertainment and business to expand exports in overseas markets and to introduce the country’s small and mid-size companies to local businesses a

Nov 12, 2025By Lee Gyu-lee
K-culture takes over NY, NJ: Korea Brand Expo draws massive crowds, biz deals
Companies

Antitrust watchdog to expand workforce to rein in conglomerates, platforms

The Fair Trade Commission (FTC) is poised to reinforce its regulatory authority, as it prepares for a significant manpower expansion next year. According to the government’s 2026 budget plan, the number of employees at the antitrust watchdog will increase to 814 in 2026, up 22 percent from 667 this year. The agency will also raise its labor spending by 13.2 percent over the same period. This is in line with the policy initiative of President Lee Jae Myung and his administration. Shortly after taking office in June, Lee advocated for the need to increase the manpower of the FTC, underscoring the importance of prompt and tight corporate regulation. The government also allocated a budget of 186.6 billion won ($127 million) for the FTC next year, up 14.2 percent from this year. The FTC’s new Chairman, Ju Biung-ghi, also announced plans to establish a digital market monitoring team to investigate unfair or collusive practices by platform companies. Ju, who took office as head of the watchdog in September, is known as a strong supporter of tough enforcement measures against conglomerates, b

Nov 11, 2025By Lee Min-hyung
Antitrust watchdog to expand workforce to rein in conglomerates, platforms
Banking & Finance

Korean startup Crosshub wins CES award in fintech category

Korean startup Crosshub has been named the winner of the Best of Innovation Award in the fintech category at the CES 2026, the company said Tuesday. The firm, established in May 2024, earned the accolade for its blockchain-based digital identity verification service, IDBlock, and its global cross-border payment platform, B-Pay. The awards, organized by the Consumer Technology Association, recognizes companies demonstrating outstanding technological innovation and leadership across industries. Winners are announced ahead of the world’s largest consumer electronics and IT exhibition, held every January in Las Vegas. IDBlock combines artificial intelligence (AI)-driven facial recognition with passport eKYC (electronic Know Your Customer) verification to deliver a secure blockchain-based digital identity solution. The service underpins B-Pay, which allows international users to access Korean domestic services, including food delivery, public transportation, accommodations and reservations, providing seamless cross-border payment experiences. Since its founding, Crosshub has achieved a cumul

Nov 11, 2025By Jun Ji-hye
Korean startup Crosshub wins CES award in fintech category
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