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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
  • Banking & Finance

    Winners of the 22nd Economic Essay Contest

    2 MIN READBy Lee Yeon-woo
    Winners of the 22nd Economic Essay Contest
  • 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
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Companies

Hyosung chair vows to follow in late father's footsteps on 1st anniversary

Hyosung Group Chairman Cho Hyun-joon pledged on Saturday to instill a challenging and forward-looking spirit across the company, inspired by the will and determination demonstrated by his late father, Cho Suk-rai, the group’s honorary chairman, who passed away a year earlier. “My father always underscored the importance of turning crises into opportunities at any time,” the incumbent leader of the group said during a ceremony marking the first anniversary of the death of the honorary chairman. Hyosung’s top executives and the family members of the late chairman attended the memorial ceremony at the group's headquarters in Seoul to pay their respects. The third-generation heir of the group went on to recall his father’s future-oriented mindset and challenging spirit. “By following the wish of my father, I will do my best to transform Hyosung Group into one that is well-prepared for the future and is agile in global affairs,” he said. “Under this spirit, the company will be able to thrive in any crisis.” The Hyosung chairman passed away from a chronic illness on March 29,

Mar 30, 2025By Lee Min-hyung
Hyosung chair vows to follow in late father's footsteps on 1st anniversary
Companies

GM Korea faces survival crisis amid imminent US auto tariff

General Motors (GM) Korea is facing a survival crisis as the United States prepares to impose a 25-percent tariff on imported vehicles. The local subsidiary of the U.S. carmaker finds itself in an increasingly difficult position if the tariff plan takes effect on April 3 as announced recently by U.S. President Donald Trump. The concern for the company is especially serious compared to other carmakers here, as it relies heavily on exports to the world's largest economy. According to GM Korea, its exports to the U.S. accounted for 83.8 percent of its total vehicle production last year. If the tariff is implemented, the company’s profitability is expected to deteriorate rapidly. Experts and industry officials believe that the best-case scenario for GM Korea is to secure a partial exemption from the upcoming tariff. “GM Korea will have to obtain a partial tariff exemption for a certain portion of its vehicles exported to the U.S.," said Lee Ho-geun, an automotive engineering professor at Daeduk University. This is crucial for the carmaker to minimize the potential fallout from the tariff,

Mar 30, 2025By Lee Min-hyung
GM Korea faces survival crisis amid imminent US auto tariff
Banking & Finance

Shinhan Financial chair reiterates commitment to value-up drive in letter to shareholders

Shinhan Financial Group Chairman Jin Ok-dong said Sunday that the group was committed to the government's Corporate Value-up Program. In addition, the group is looking to bolster shareholder returns, promote the healthy growth of the country’s capital market and support viable postretirement plans for older adults. In a 16-page letter to shareholders, Jin stressed the importance of the value-up drive. “I have been and will continue to be adamant that the corporate value enhancement measures are needed,” he said. The chair also said financial investment will emerge as a new alternative to property investment in an age of pension reform. “The income replacement rate for Korea's state-run pension program subscribers is limited to the low 40 percent. This is far lower compared to the advanced peers of Korea including the U.S. where the rate is in the 60-percent range.” The group’s efforts to implement the value-up drive announced in July of last year will help investors seek a balanced source of income, he added. “[The] property market is often the go-to investment choice for man

Mar 30, 2025By Lee Kyung-min
Shinhan Financial chair reiterates commitment to value-up drive in letter to shareholders
Banking & Finance

US car tariffs, wildfires heighten urgency for supplementary budget talks

Supplementary budget discussions can no longer be delayed, as politicians and economic officials must prioritize talks in light of threats posed by U.S. President Donald Trump's car tariffs and the worst-ever wildfires in Korea's history, analysts said Sunday. However, talks for the extra budget have made little progress for months, although politicians and financial bureaucrats are increasingly agreeing to the idea as the country faces tough challenges and a bleaker economic outlook. “Under the circumstances, any further delay will only worsen economic growth,” Hanyang University economics professor Ha Joon-kyung said. The professor noted that the gloomy economic outlook is, in large part, due to Trump’s hostile tariff policy, which was behind the OECD’s drastic cut this month in its 2025 GDP growth projection for Korea, from 2.1 percent to 1.5 percent. The tariff policy will directly affect Korea this week, as a 25 percent duty will be newly imposed on all imported cars. The import duty is expected to impact Korea’s exports — a key pillar of the country’s economy — since

Mar 30, 2025By Yi Whan-woo
US car tariffs, wildfires heighten urgency for supplementary budget talks
Banking & Finance

Will Korean currency weaken to 1,500 won against US dollar?

The Korean won could weaken to 1,500 won against the U.S. dollar this week, unsettled by U.S. President Donald Trump's planned car tariffs of 25 percent and the anticipated ruling on the impeachment of President Yoon Suk Yeol, market watchers said Sunday. Many say the currency of the export-reliant Korean economy is extremely vulnerable to Trump's tariff policies, as evidenced by the currency plunge of over 6 percent in the past four months since the U.S. leader’s inauguration. This is far sharper compared to other major currencies, including the euro, the Japanese yen and the Chinese yuan. Their depreciations were limited to a range of between 0.84 percent and 2.25 percent. The won-dollar exchange rate is highly likely to register a year-to-date high of over 1,500 won in the April to June period, sparked by months of political turmoil taking an extended political turn if the Constitutional Court fails to impeach Yoon, they say. According to financial market data, the Korean won traded 1,466.5 against the dollar as of 3:30 p.m., Friday. This was the sixth consecutive day that the won re

Mar 30, 2025By Lee Kyung-min
Will Korean currency weaken to 1,500 won against US dollar?
Tech & Science

Generative AI users in Korea nearly double in 2024

The number of users of generative artificial intelligence (AI) services in Korea nearly doubled from a year earlier in 2024, government data showed Sunday. In a survey on internet usage conducted by the Ministry of Science and ICT, the rate of respondents who experienced generative AI services jumped to 33.3 percent last year from 17.6 percent a year ago. The outcome means 1 out of 3 internet users here have experienced generative AI services, such as ChatGPT, the AI chatbot created by U.S.-based OpenAI. Nearly 82 percent of the users looked up generative AI service for information research, while 44 percent of them used such services for assistance in paperwork and 40 percent for foreign language translation, the survey showed. About 98 percent of the users responded they use instant messaging services, with KakaoTalk overwhelming other services. More than 95 percent of the users said they used online video platform YouTube. Overseas direct purchases by internet shopping customers jumped to 34 percent last year from the previous year's 20 percent following the advance of Chinese e-commerc

Mar 30, 2025By yonhap
Generative AI users in Korea nearly double in 2024
Tech & Science

REVIEW Brutal, beautiful and brilliant — The First Berserker: Khazan battles for Soulslike supremacy

Beating games like The First Berserker: Khazan is hard, but standing out in the crowded, competitive Soulslike genre is even harder. That was precisely the challenge faced by Neople, a subsidiary of Nexon, with their latest installment in the long-running Dungeon & Fighter franchise. Much like its intense boss fights, the game itself confronts formidable adversaries, competing directly with celebrated titles such as Sekiro: Shadows Die Twice, Lies of P and Elden Ring. Somehow, it manages to carve out its own identity among these highly acclaimed, punishingly difficult action role-playing games. In many respects, The First Berserker: Khazan rises to the occasion. The game delivers a brutal, stylish and sometimes frustrating journey into dark fantasy warfare. While it might not revolutionize its genre, its exceptional combat mechanics, captivating visuals and intricate progression systems make it a worthy adventure — provided players are ready to endure its demanding nature. The narrative centers on betrayal, following General Khazan, a respected leader falsely accused of treason. Narr

Mar 30, 2025By John Popko
[REVIEW] Brutal, beautiful and brilliant — The First Berserker: Khazan battles for Soulslike supremacy
Banking & Finance

Insurance firms' lending down in Q4

Loans extended by insurance companies in Korea fell in the fourth quarter of 2024 from a year earlier amid high interest rates and tightened lending rules, data showed Sunday. Insurers' outstanding loans reached 269.6 trillion won ($183 billion) as of the end of December, down 3.6 trillion won from a year earlier, according to the data from the Financial Supervisory Service. The reading, however, marks a 2.7 trillion-won gain from three months earlier. The on-year decrease was attributed to a decline in loans extended to businesses. Household lending stood at 135.7 trillion won as of end-December, up 0.7 trillion won from a year before, while corporate lending shrank by 4.3 trillion won to 133.8 trillion won over the cited period. The loan delinquency rate, which measures the proportion of loan principal or interest unpaid for at least a month, stood at 0.61 percent at end-December, up from 0.42 percent a year earlier, according to the financial watchdog. The rate of insurers' nonperforming loans came to 0.64 percent, down from 0.74 percent a year earlier, the data showed. (Yonhap)

Mar 30, 2025By yonhap
Insurance firms' lending down in Q4
Companies

Hillstate Gayang The Wise units nearly sold out

Hyundai Engineering & Construction's (E&C) Hillstate Gayang The Wise apartment complex in Daejeon has successfully attracted buyers, thanks to the prestigious Hillstate brand and its status as the tallest residential building in the city's Dong District. Made up of three 49-story towers with four basement levels, the complex offers a total of 358 apartment units. Some units, previously sold to ineligible buyers — such as those who already own homes — are now available for purchase on a first-come, first-served basis. All 84-square-meter units have sold out, with only a few larger units remaining. "With the planned urban redevelopment of its neighborhood, Hillstate Gayang The Wise holds significant investment potential," a Hyundai E&C official said. "Thanks to attractive financial benefits for buyers, we have received numerous inquiries about the remaining units." Hillstate Gayang The Wise is priced at 15 million won ($10,000) to 17 million won per 3.3 square meters, making it more affordable than nearby apartment complexes in Daejeon, which are priced at 20 million won per 3.3 square

Mar 30, 2025By Park Jae-hyuk
Hillstate Gayang The Wise units nearly sold out
Banking & Finance

Nearly 40 companies raise product prices on high costs

About 40 companies have recently raised or will raise their product prices to reflect higher manufacturing costs, data compiled by Yonhap News Agency showed Sunday, sharply putting upward pressure on inflation. The companies, which mainly sell food and beverages, cited a weak won against the dollar and higher raw material costs as the main reasons for their price hikes. Industry watchers note the firms may have made the decision to raise prices as the government is facing difficulties in tightening its grip on consumer prices amid political uncertainties that followed the Dec. 3 imposition of the short-lived martial law by President Yoon Suk Yeol. There are concerns that the on-year growth rate of processed goods and restaurant prices may soon exceed 3 percent, affecting overall consumer prices, they said. Restaurant prices already jumped by 3 percent from a year earlier in February, while the prices of processed goods increased by 2.9 percent, according to earlier reports. Twenty-nine companies, including Starbucks Korea, Paris Baguette, CJ Cheiljedang and Nongshim, have already increase

Mar 30, 2025By yonhap
Nearly 40 companies raise product prices on high costs
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