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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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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.

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Banking & Finance

SK hynix is top pick for foreign investors in Q3

Major chipmaker SK hynix was the top pick for foreign investors in the first quarter of the year, data showed Saturday. These investors scooped up a net 1.88 trillion won ($1.28 billion) worth of SK hynix shares during the January-March period on hopes for a turnaround in the sector, according to the data compiled by the Korea Exchange. Defense firm Hanhwa Aerospace and internet portal operator Naver came in next with net buying of 733 billion won and 434 billion won, respectively. In contrast, they heavily sold shares worth 1.18 trillion won worth of shipbuilder Hanhwa Ocean in the first quarter, followed by top automaker Hyundai Motor with 790 billion won and leading banking group KB Financial with 548 billion won, the data showed. In the first three months of the year, foreigners sold a net 4.73 trillion won worth of local stocks. (Yonhap)

Mar 29, 2025By yonhap
SK hynix is top pick for foreign investors in Q3
Banking & Finance

Korea Zinc chairman defends management rights after fierce battle with MBK

Korea Zinc Chairman Choi Yun-beom, who has been engaged in a monthslong managerial dispute with the alliance of private equity firm MBK Partners and Young Poong, successfully defended his control at a regular shareholders’ meeting Friday. Based on simple shareholding percentages, the MBK alliance, which holds about 41 percent of the shares, outnumbers Choi’s side, which holds about 34 percent. However, Choi was able to retain his management rights by utilizing the cross-shareholding voting rights restriction under the Commercial Act. This allowed his side to neutralize voting rights on Young Poong’s 25.4 percent stake in Korea Zinc, preventing the MBK alliance from taking control of the board. The MBK alliance strongly criticized Choi, saying he has repeatedly resorted to illegal practices to create the cross-shareholding structure. As the alliance signaled its willingness to pursue legal action to nullify the decisions made during the meeting, the ownership battle over the world’s largest zinc smelting firm could enter a new phase depending on the court’s decision. When decla

Mar 28, 2025By Jun Ji-hye
Korea Zinc chairman defends management rights after fierce battle with MBK
Companies

Krafton acquires India's Nautilus Mobile to expand global sports game portfolio

Korean gaming giant Krafton said Friday it has acquired a controlling stake in India-based game studio Nautilus Mobile for $13.75 million. Founded in 2013, Nautilus Mobile is best known for developing Real Cricket, a popular mobile sports game based on India's national pastime. The series has surpassed 250 million cumulative downloads and has partnered with teams from the Indian Premier League (IPL), cementing its position as a leading cricket game franchise in the Indian market. Krafton said it aims to combine Nautilus Mobile's expertise in sports game development with its own global publishing capabilities and technological strengths to generate synergies and expand into broader markets. "The acquisition aligns with Krafton's long-term vision of nurturing India into a global game development hub. Through close collaboration with Nautilus Mobile, we aim to deliver world-class gaming experiences that resonate with users in India and beyond," Son Hyun-il, head of Krafton India, said. (Yonhap)

Mar 28, 2025By yonhap
Krafton acquires India's Nautilus Mobile to expand global sports game portfolio
Companies

Samsung pushes for rebound through China ties

Samsung Electronics Executive Chairman Lee Jae-yong met Chinese President Xi Jinping during a meeting between Xi and global business leaders in Beijing on Friday, as part of his ongoing China trip, triggering expectations that the tech giant will invest more in the country. According to Xinhua and news agencies, Lee was among the participants of the high-profile meeting between Xi and executives of leading global companies, including Qualcomm, BMW, AstraZeneca, FedEx and Saudi Aramco. The meeting was a follow-up event for the China Development Forum held earlier this week. The meeting was the latest in Beijing’s efforts to ease foreign investors’ concerns about China’s economic durability and Xi’s bid to strengthen ties with global companies in response to U.S. President Donald Trump's toughening tariff pressures. While China has been responding to the U.S. through retaliatory tariffs and export controls on key minerals, it is at the same time emphasizing the country’s commitment to openness to attract investment from global companies, including those from the U.S. During the m

Mar 28, 2025By Nam Hyun-woo
Samsung pushes for rebound through China ties
Tech & Science

Startup mAy-I eyes global market with AI-based analysis at offline stores

Internet users these days often come across cookie notices informing them that an online store uses tracking technologies to collect users’ preferences and other information useful for analyzing visitor data and providing optimal environments for visitors. While these technologies have become common among online stores, many offline stores still make decisions about store layout or operations without tangible data to support them. This is because it is difficult for store operators to track every visitor and collect data on their age, gender, preferences and other useful information. MAy-I, an artificial intelligence (AI) startup led by founder Park Jun-hyuk, offers a solution to these challenges through its product, mAsh — an AI-based analysis system that uses closed-circuit television (CCTV) footage to extract useful visitor data for offline stores. “One of our goals is bringing performance-based online marketing activities to offline stores,” Park said in an interview with The Korea Times on March 13. “We analyze video footages from existing CCTV cameras installed in offlin

Mar 28, 2025By Nam Hyun-woo
Startup mAy-I eyes global market with AI-based analysis at offline stores
Banking & Finance

Toss posts first-ever annual profit in 2024

Viva Republica, the operator of the mobile financial service Toss, said Friday that it posted its first annual profit since its establishment in 2015. The firm's revenue also reached a record high. According to the company’s 2024 full-year earnings report, its consolidated revenue, including that of its subsidiaries, reached a record 1.95 trillion won ($1.3 billion), marking a 42.7 percent increase year-over-year. Excluding subsidiaries, Toss alone reported revenue of 587.1 billion won, a 74.6 percent increase compared to the previous year. The strong performance also led to Toss’ first-ever consolidated full-year profit, indicating that the company has entered the stage of monetization. It reported 90.7 billion won in consolidated operating income and 21.3 billion won in consolidated net income. The firm noted that the results reflect a significant improvement across all profitability indicators, largely driven by growth in its high-margin consumer services segment — money transfers, brokerage, advertising, simple payments, securities and tax services. It demonstrates the success

Mar 28, 2025By Lee Yeon-woo
Toss posts first-ever annual profit in 2024
Companies

Cardi B promotes JungKwanJang ginseng on TikTok

American rapper Cardi B recently praised JungKwanJang, a signature brand by red ginseng extract health supplement maker Korea Ginseng Corp (KGC), in a video she posted on TikTok, boosting interest in the product among her global fans. Cardi's video has surpassed 1.2 million views as of Friday. In the video, the artist consumed a stick of Everytime, grimaced, and went on to compliment the product. “No lie, it tastes so nasty but it gives me a rush, like an energy drug on steroids,” she said. Cardi added, "Maybe because I'm five months postpartum and 32 years old but I'm just tired and so sleepy.” The rapper added that coffee failed to keep her awake. “I’ve been using it (Everytime) for the past week and a half. This has been keeping me wired. This has been boosting my immune system and keeping me up. It's been curving my fatigue. If you are tired or sleepy, feel so drained out, this type of product will change your life,” she said. KGC, the largest ginseng-based health supplement developer in Korea, earlier this month promoted JungKwanJang and red ginseng’s health benefits a

Mar 28, 2025By Ko Dong-hwan
Cardi B promotes JungKwanJang ginseng on TikTok
Banking & Finance

Banks expand services for foreign residents in Korea as their population grows

Banks are enhancing their services for foreign customers in response to the ongoing increase in the country’s foreign population, industry officials said Friday. Beyond merely supporting financial transactions for foreign workers, banks are expanding their offerings by introducing platforms to help foreign nationals better settle in Korea and launching services tailored to wealthy foreign individuals and corporations. JB Financial Group, which owns Kwangju Bank and Jeonbuk Bank, will become the first domestic financial company to launch a comprehensive financial and social integration platform for foreign nationals in April. Through this platform, tentatively named Bravo Korea, foreign customers will be able to access financial services such as deposit, installment savings and loan applications, as well as a wide range of essential everyday information, including visa-related services, Korean language education, house searches and job listings. To enhance these offerings, the group is collaborating with start-ups that specialize in services for foreign residents. Major commercial banks

Mar 28, 2025By Jun Ji-hye
Banks expand services for foreign residents in Korea as their population grows
Business

'Chance to overcome US tariff pressure exists in deals with Trump,' says US think tank

Korea should keep seeking new deals with the Donald Trump administration to find new ways to make sure the country avoids the worst of the economic uncertainties caused by the U.S. president’s tariff measures, investment and business experts said Thursday during a forum hosted by Milken Institute, a nonprofit American think tank. The forum, titled "South Korea at the Crossroads," also highlighted that Seoul’s advanced technological industries and global retail power are the country’s greatest assets in the current geopolitically challenging era, while noting that the resilience Korea has shown in overcoming past major economic crises can be expected again. This was the first time the institute held a forum in Korea. The forum highlighted Korea’s difficult position due to Trump’s tariff measures, which will impose a 25 percent tariff on all imported automobiles and related parts starting April 3. This marks Korea’s third major export to be affected by the tariffs, following aluminum and steel. John Quinn, executive chairman and founding partner of Quinn Emanuel Urquhart & Sul

Mar 28, 2025By Ko Dong-hwan
'Chance to overcome US tariff pressure exists in deals with Trump,' says US think tank
Companies

US tech lobby accuses Korea of unfair targeting of American companies

A major U.S. industry group has accused Korea’s antitrust regulator of unfairly targeting American companies, raising concerns that Korean regulatory actions amount to nontariff trade barriers. The Consumer Technology Association (CTA), organizer of the world’s largest tech expo CES and representing over 1,300 companies, submitted its concerns to the U.S. Trade Representative (USTR), prompting fears that the issue could escalate into reciprocal tariff measures. According to a Korean government source on Thursday, the Korea Fair Trade Commission (KFTC) recently submitted its counterargument to the Ministry of Trade, Industry and Energy regarding the CTA’s submission to the USTR for its annual National Trade Estimate (NTE) Report. The NTE Report, expected in early April, could be used by the U.S. government to justify retaliatory tariffs. In its submission, the CTA alleged that the KFTC had been “unfairly and consistently targeting” American companies such as Coupang, Google, ChatGPT and Netflix through unprecedented fines, office raids, threats of criminal charges, and what it d

Mar 28, 2025By KTimes
US tech lobby accuses Korea of unfair targeting of American companies
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