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  • Companies

    Genesis BBQ debuts in India's chicken dining scene

    Global fried chicken restaurant franchise company Genesis BBQ has debuted in India, opening two locations in the southern city of Bengaluru. The company said Thursday its HSR Layout and Koramangala branches opened on June 26 through its partnership with a local company under a master franchise deal. Genesis BBQ said it will expand its Indian market to other cities, including Hyderabad, Chennai and Vellore. Bengaluru, according to Genesis BBQ, is one of India’s hubs for IT and startups, along with young consumers. HSR Layout is in a premium commercial district and in the vicinity of IT business districts, including Electronic City, Sarjapur Road and Outer Ring Road. The company said the area also has a large population of those in their 20s to 40s with high incomes. Koramangala is nestled in the largest dining and commercial hub in Bengaluru, according to the Korean firm. A variety of global dining brands and trendy restaurants are concentrated in the area, which made it an ideal location for Genesis BBQ to promote itself to local consumers. Both stores will operate as quick-service rest

    2 MIN READBy Ko Dong-hwan
    Genesis BBQ debuts in India's chicken dining scene
  • Banking & Finance

    KB, Shinhan, Hana, Woori face mounting headwinds despite solid profits

    2 MIN READBy Jun Ji-hye
    KB, Shinhan, Hana, Woori face mounting headwinds despite solid profits
  • Tech & Science

    Consumer preference for flagship devices gives advantage for LG Display

    3 MIN READBy Nam Hyun-woo
    Consumer preference for flagship devices gives advantage for LG Display
  • Others

    AMCHAM launches AI Leadership Council to bolster Korea-US AI cooperation

    2 MIN READBy Lee Gyu-lee
    AMCHAM launches AI Leadership Council to bolster Korea-US AI cooperation
  • Companies

    SK bioscience, Gates Foundation to launch AI-driven vaccine platform

    1 MIN READBy Jhoo Dong-chan
    SK bioscience, Gates Foundation to launch AI-driven vaccine platform
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Banking & Finance

NH NongHyup Bank opens 1st European branch to boost global biz

NH NongHyup Bank opened a branch in London, marking its first location in Europe, the lender said Sunday. The opening ceremony was held Friday with about 130 attendees, including company CEO Kang Tae-young, Lord Mayor of London Alastair King and Han Seung-ho, Korea’s acting consul general in the city. The bank had been preparing for the branch since establishing a London office in 2021. It received regulatory approval in July this year and officially began operations on July 15. The company said it aims to use its London branch as a gateway to expand corporate and investment banking services across Europe, the Middle East and Africa. The branch will also serve Korean companies operating in Europe, as well as local firms seeking stronger financial ties with Asia. “I deeply appreciate the dedication of our employees who contributed to the successful opening of the London branch,” Kang said. “We will grow it into a strategic hub for advancing NongHyup Bank’s global IB (investment banking) business.” With the addition of the London branch, the bank now operates seven overseas branc

Sep 7, 2025By Jun Ji-hye
NH NongHyup Bank opens 1st European branch to boost global biz
Banking & Finance

Race for Korea Financial Investment Association chair heats up ahead of Dec. election

Competition is intensifying ahead of the Korea Financial Investment Association’s (KOFIA) chairperson election in December, drawing strong interest from its nearly 400 member firms, industry officials said Sunday. Two candidates have officially entered the race: Hwang Seong-yeop, co-CEO of Shinyoung Securities, and Lee Hyun-seung, former CEO of KB Asset Management. Hwang is a seasoned industry veteran who joined Shinyoung Securities in 1987 and has remained with the firm since. Over the decades, he has held leadership roles across key divisions, including asset management, corporate business and investment banking, before becoming co-CEO. Hwang’s vision focuses on transforming Korea's bank-dominated financial system into one led by investment banking, with KOFIA playing a central role in the shift. Lee, meanwhile, offers experience spanning both the public and private sectors. A former Ministry of Finance and Economy official, he has held senior posts at Merrill Lynch, SK Securities, Koramco Asset Management and Hyundai Asset Management. Lee has pledged to use his experience to streng

Sep 7, 2025By Lee Yeon-woo
Race for Korea Financial Investment Association chair heats up ahead of Dec. election
Others

Loan delinquencies by self-employed triple in 4 years, seniors hardest hit

The number of self-employed individuals unable to repay their loans on time has surged to three times the level seen four years ago, amid the prolonged economic downturn, an opposition party lawmaker said Sunday. The increase was especially sharp among those aged 60 and above, who recorded nearly a fivefold jump, making them more vulnerable. Rep. Park Sung-hoon of the main opposition People Power Party, a member of the National Assembly’s Strategy and Finance Committee, cited data provided by NICE Information Service, a company offering personal credit information. The data showed that 161,198 self-employed borrowers were in loan delinquency as of the end of July this year, compared with 51,045 at the end of 2020. Self-employed borrowers include self-employed workers and small business owners who have taken out business loans under their personal names. Loan delinquents are defined as borrowers who have been overdue on repayments for three months or longer. The number of self-employed borrowers falling behind on loan repayments grew steadily from 51,045 in 2020 to 63,031 in 2022, then s

Sep 7, 2025By Jun Ji-hye
Loan delinquencies by self-employed triple in 4 years, seniors hardest hit
Companies

Naver's AI to empower Lotte shopping platforms

Lotte Group's retail division has partnered with internet giant Naver to empower Lotte's online and offline shopping businesses with artificial intelligence (AI), the former said Sunday. Kim Sang-hyun, Lotte retail division vice chairman and CEO, and Naver CEO Choi Soo-yeon agreed to a partnership on AI transformation during a roundtable event at Naver’s headquarters in Seongnam, Gyeonggi Province, Friday. Under the partnership, Lotte's retail division will introduce a new AI-powered operating system to manage offline stores. In doing so, the two sides will cooperate to develop agentic AI systems each tailored for Lotte's shopping, merchandise, operation and management support. The collaboration is targeted at improving Lotte’s shopping experiences at its 15,000 offline stores worldwide, including Lotte Mart, Hi-Mart, department stores, supermarkets and convenience stores. Naver’s e-commerce services will support those shopping platforms by offering reward point promotions and Naver’s fast delivery service. The partnership allows Lotte to use Naver’s AI advertisement solution,

Sep 7, 2025By Ko Dong-hwan
Naver's AI to empower Lotte shopping platforms
Tech & Science

Samsung device head vows transformation into 'AI-driven company'

Roh Tae-moon, acting head of Samsung Electronics Device Experience (DX) division, pledged to transform the firm into “a company driven by artificial intelligence (AI)” by 2030 through expanding AI use across workflows. Roh made the remarks during a press conference on the sidelines of IFA 2025 in Berlin, Thursday (local time). It was Roh’s first time attending the consumer electronics exhibition as the acting head of the company's DX division, which includes TVs, washers, refrigerators and other home appliances. “In its half-century history, Samsung Electronics has proven its resilience to overcome harsher business environments than that of today,” Roh said. “Building on our DNA of innovation, the company will also be the fastest in the industry to bring AI home into reality and emerge as a global pioneer.” Roh said that the company will leverage AI to innovate its business fundamentals, so that Samsung can turn into “the company that makes the best use of AI” and “a company that works and grows with AI.” To this end, he said Samsung plans to use AI in over 90 perce

Sep 7, 2025By Nam Hyun-woo
Samsung device head vows transformation into 'AI-driven company'
Tech & Science

PHOTO Korea-Japan AI partnership

SK Telecom CEO Ryu Young-sang, center, delivers a speech during the K-AI Alliance Global Meetup in Tokyo, Friday. At the meeting, 17 Korean companies seeking opportunities in artificial intelligence (AI) business in Japan engaged with Japanese conglomerates, venture capital firms and AI startups to explore cooperation and partnerships. Courtesy of SK Telecom

Sep 7, 2025By Nam Hyun-woophoto
[PHOTO] Korea-Japan AI partnership
Companies

Senior executive of LG Energy Solution departs for US over immigration crackdown

A senior executive of LG Energy Solution on Sunday departed for the United States over the arrests of hundreds of Koreans by U.S. immigration authorities at a Korean battery plant site in Georgia. More than 300 Korean nationals out of 457 people have been taken into custody after U.S. immigration authorities arrested them during a raid on the site operated by Korean companies, Hyundai Motor Group and LG Energy Solution in Bryan County. "Our top priority now is working for the swift and early release of both LG Energy Solution employees and the staff of our partner company," Kim Ki-soo, chief human resources officer at LG Energy Solution, told reporters before departing for the U.S. "As the Korean government is making all-out efforts to respond the situation, we will also do our utmost to ensure everyone's safe and prompt return," he said.

Sep 7, 2025By Yonhap
Senior executive of LG Energy Solution departs for US over immigration crackdown
Companies

‘Korea Zinc complicit in SM Entertainment stock manipulation:’ MBK

Korea Zinc, Korea’s leading nonferrous metal manufacturer, had prior knowledge that one of its investment funds would be used to manipulate the stock price of K-pop powerhouse SM Entertainment, according to Youngpoong Group on Friday. The fresh allegation comes amid a prolonged battle as Youngpoong and private equity fund MBK Partners vie with Korea Zinc for control over management of the zinc smelter. Youngpoong claimed that the alleged manipulation highlights Korea Zinc’s lack of internal oversight and ethical standards. Market watchers and legal experts say Korea Zinc could be held criminally liable for violating the law governing capital markets, under which collusion and aiding and abetting in stock manipulation are subject to prosecution. Under the revised law governing the punishment of stock manipulation, penalties can be up to twice the total of illicitly gotten gains and the total of losses evaded. The private equity fund said its claims are backed by internal emails among senior Korea Zinc executives, obtained through court proceedings. According to Youngpoong and MBK, execu

Sep 6, 2025By Lee Kyung-min
‘Korea Zinc complicit in SM Entertainment stock manipulation:’ MBK
Tech & Science

LG Electronics eyes European dominance, aiming to double sales in 5 years

LG Electronics has announced its goal to double its home appliance sales in Europe within the next five years, setting its sights on becoming the continent’s top brand. Lyu Jae-cheol, head of the company’s Home Appliance Solution Company, shared LG’s future business strategy in the European market during a press conference Thursday (local time) at the IFA 2025 electronics exhibition, which runs through Tuesday in Berlin. “LG has weathered fierce competition in Europe, achieving rapid growth over the past several years, winning strong approval from customers,” Lyu said. “To further penetrate Europe, one of the world’s most important premium markets alongside North America, we focused on showcasing products tailored specifically for European consumers at this exhibition.” As Europe is one of the largest home appliance markets worldwide, LG has been competing with other foreign brands for both the premium and mass market segments in the region. “We aim to double our home appliance sales in Europe within five years and secure our position as its leading brand by driving qual

Sep 5, 2025By Lee Gyu-lee
LG Electronics eyes European dominance, aiming to double sales in 5 years
Companies

Immediate push for online platform law unlikely, FTC chairman nominee says

The Fair Trade Commission (KFTC) cannot immediately regulate market-dominant global platform firms through new legislation, as the issue is closely linked to Korea’s ongoing trade negotiation with the United States, the watchdog’s nominee for chairman said Friday. “As the trade negotiations are too important to ignore, we cannot boldly push ahead with the so-called Online Platform Act,” Ju Biung-ghi told lawmakers during a confirmation hearing at the National Assembly in Seoul. “U.S. Federal Trade Commission Chair Andrew Ferguson made it clear that Korea should not regulate U.S. platform firms in advance (through the act) during his visit to Korea on Thursday,” he said. The nominee added, “Korea’s trade uncertainties are way too huge under the Donald Trump administration.” The Online Platform Act is aimed at regulating monopolistic tech firms so they do not harm the interest of customers here. The government and the watchdog have in recent years called for the need to introduce a law to prevent platform firms from exuding excessive influence and engaging in unfair busin

Sep 5, 2025By Lee Min-hyung
Immediate push for online platform law unlikely, FTC chairman nominee says
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