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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

CHA Biotech to appoint investment banking expert as new CEO

CHA Biotech will appoint Choi Suk-yoon, former Meritz Securities adviser, as its new vice chair and CEO in its upcoming shareholder and board meeting on Monday, the cell and gene therapy firm said Friday. Choi is an investment banking expert with over 40 years of experience. He previously served as the country head for the Royal Bank of Scotland Korea and Goldman Sachs from 2007 to 2015. He was also an adjunct professor at Seoul National University. In 2018, he was appointed president of Meritz Fire & Marine, and in 2021, he became an adviser to Meritz Securities. CHA Biotech also appointed Han Ki-won, former commissioner of Invest KOREA, as the head of global business. Han is a financial expert who worked for Japan’s Daiwa Securities for 25 years. The biotech company expects Han to spearhead its hospital business in Japan and expand its presence in the Asian health care market.

Mar 28, 2025By Nam Hyun-woo
CHA Biotech to appoint investment banking expert as new CEO
Banking & Finance

More salaried workers go into debt to buy homes

A group chat for working moms on KakaoTalk mobile messenger frequently sees comments that they are stressed about making repayments for years as salaried workers. Many of them are in their 40s, who, together with their husbands, took out loans from banks to buy an apartment as it is the most popular form of housing and, therefore, is considered a worthwhile investment. “And surprisingly, the number of comments from these indebted individuals appears to be increasing in recent years,” said Shin Ji-kyung, an office worker whose spouse also sits behind a desk. Shin is not wrong, according to Statistics Korea’s latest data, which showed that the average amount of debt for wage workers increased from 2022 to 2023. The data showed the loans taken out by salaried workers nationwide averaged 51.5 million won ($35,100) in 2023. The amount slightly ticked up from 51.15 million won in 2022 after going down from 52.02 million in 2021. “The finding suggests the costly borrowing rate has not been stopping salaried workers from living in debt,” Ha Joon-kyung, an economics professor at Hanyang

Mar 27, 2025By Yi Whan-woo
More salaried workers go into debt to buy homes
Companies

Germany's Meyle ramps up marketing operations for Korean imported car parts market

German aftermarket auto parts manufacturer Meyle AG said Thursday that it will launch official communication channels and expand marketing activities targeting import car customers in Korea. Meyle is the flagship brand of Wulf Gaertner Autoparts AG, a Hamburg-based premium auto parts manufacturer specializing in components for steering systems, drivetrains and hybrid and electric vehicles (EVs). The company supplies high-performance aftermarket parts to a wide range of global luxury automotive brands. Since entering the Korean market in 2016, Meyle has been operating its premium repair service network under the name Meyle Auto Service. The company currently operates 61 service centers nationwide, offering vehicle maintenance and repair services tailored to imported vehicles. Meyle said its renewed focus on communication and outreach is aimed at meeting the evolving expectations of Korean import car drivers, whose numbers have grown significantly over the past decade. The company also noted that by offering top-tier repair services from a globally recognized parts manufacturer, it aims to

Mar 27, 2025By yonhap
Germany's Meyle ramps up marketing operations for Korean imported car parts market
Companies

Kia showcases tech excellence for Tasman pickup truck

Kia showcased the technological excellence of its first-ever pickup truck — the Tasman — during its Tech Day event on Thursday. The vehicle boasts a sturdy body-on-frame chassis and impressive driving performance. The automaker is pinning high hopes on the success of its new strategic model, with sales exceeding 4,000 units in just 17 days after its launch last month. Targeting the global market, particularly countries with high demand for pickup trucks, the Tasman is expected to serve as a strong revenue pipeline for the carmaker. Kia emphasized the vehicle’s body-on-frame chassis was designed to maintain its masculine identity as a pickup truck. The vehicle is capable of loading up to 700 kilograms and features a decent towing rating of 3,500 kilograms, allowing it to carry trailers. “We focused on keeping the essence of a pickup truck by equipping the vehicle with our newly developed body-on-frame chassis, which is the driving force behind the vehicle’s solid durability and powerful driving,” Lee Byung-woo, a senior engineer at the carmaker’s engineering solution unit,

Mar 27, 2025By Lee Min-hyung
Kia showcases tech excellence for Tasman pickup truck
Companies

Hyundai Motor Group opens much-touted EV plant in US

Hyundai Motor Group held a grand opening ceremony for Hyundai Motor Group Metaplant America (HMGMA) in Georgia on Wednesday (local time), aiming to establish it as a key manufacturing pillar for the carmaker’s electric vehicles (EVs) and hybrids. The latest announcement is widely seen as a well-timed commitment to and investment in the United States, coming on the same day that U.S. President Donald Trump decided to impose a 25-percent tariff on cars imported to the country, set to go into effect on April 3. The much-touted EV-dedicated production line currently has the capacity to manufacture 300,000 vehicles annually, but the carmaker plans to expand it to 500,000 to counter the mounting tariff risks from Trump. If realized, the combined production capacity of HMGMA and the group's two other U.S. plants would reach 1.2 million vehicles per year. “HMGMA not only represents the group’s advanced manufacturing capabilities and commitment to innovation but also our investment in relationships with our partners and communities right here in Georgia,” Hyundai Motor Group Executive Ch

Mar 27, 2025By Lee Min-hyung
Hyundai Motor Group opens much-touted EV plant in US
Banking & Finance

JB chairman to lead group for 3 more years, launch 'Season II' of dynamic financial group

JB Financial Group confirmed the reappointment of Chairman Kim Ki-hong at its annual shareholders’ meeting held at its headquarters in Jeonju, North Jeolla Province, Thursday. Kim first took the helm of JB Financial in March 2019 and was reappointed in 2022, leading the group for the past six years. With this latest reappointment, he will serve as chairman for an additional three years, marking his third consecutive term. Over the past six years, Kim has pursued a vision of building a “small but strong financial group,” focusing on profit-driven qualitative growth. This approach has enabled JB Financial to achieve record-breaking performance year after year. In his inaugural address, Kim reaffirmed his commitment to continuing this vision, vowing to further strengthen the group’s competitive and sustainable profit base while also focusing on identifying new core businesses. Kim introduced his “Season II Strategy” to drive the discovery of new core businesses, highlighting three key focus areas. First, the group plans to strengthen strategic alliances with fintech and platform

Mar 27, 2025By Jun Ji-hye
JB chairman to lead group for 3 more years, launch 'Season II' of dynamic financial group
Banking & Finance

How wealthy are financial regulators, central bankers?

Financial Services Commission (FSC) Chairman Kim Byoung-hwan, Financial Supervisory Service head Lee Bok-hyun and Bank of Korea Gov. Rhee Chang-yong hold assets worth approximately 733 million won ($500,580), 1.7 billion won and 4.4 billion won, respectively, government data showed Thursday. Kim Byoung-hwan's assets, valued at 733.5 million won, include a 500 million won leasehold deposit for an apartment in Seoul and a house in Busan worth 184 million won, which is owned by his mother. Additionally, he has a 233 million won loan from NH NongHyup Bank. Lee's assets grew by approximately 50 million won, mainly due to the increase in value of his apartment in Seocho, southern Seoul, which is jointly owned with his wife. He also has a combined debt of 300 million won from Shinhan Bank and KakaoBank. Rhee's increase in assets was partly due to over 15.6 million won in royalties from four books he authored for college freshmen majoring in economics. His properties, valued at over 2.3 billion won, include an apartment in Yeoksam, southern Seoul, and a leasehold deposit. The combined value of t

Mar 27, 2025By Lee Kyung-min
How wealthy are financial regulators, central bankers?
Companies

Hyundai Steel temporarily shuts down rebar plant on low demand

Hyundai Steel, Korea's second-biggest steelmaker, said Tuesday it has temporarily shut down one of its three domestic steel reinforcement bar (rebar) plants due to low demand. The rebar plant in Incheon, just west of Seoul, will be suspended for the entire month of April, a company spokesperson said, adding the other two plants remain operational. The company expects the plant's one-month suspension will help ease an oversupply in the market where steelmakers suffer from declining product prices amid tougher competition. "The company may consider partial operation of the plant even after the one-month period if the rebar market shows no sign of recovery," a company spokesperson said. On March 14, Hyundai Steel entered an emergency management mode in response to growing challenges, including the recent imposition of steel tariffs by the Donald Trump administration and ongoing strife with unionized workers. The company had temporarily suspended its cold-rolled steel facility in Dangjin, about 80 kilometers southwest of Seoul, from Feb. 24 to March 31 in the wake of a monthslong strike by it

Mar 27, 2025By Yonhap
Hyundai Steel temporarily shuts down rebar plant on low demand
Tech & Science

Calls grow for deregulation on secondhand good exports

Calls are growing to reform Korea’s taxation system, as current regulations result in double taxation on secondhand trading, undermining the industry’s recent growth momentum amid the global popularity of K-pop merchandise. According to data from the Korea Internet & Security Agency, Korea’s resale market is expected to reach 43 trillion won ($29.3 billion) this year, up from 26 trillion won in 2023 and 4 trillion won in 2008. The surge can be attributed to the growth of secondhand trading platforms and their overseas expansion. Delivered Korea, which helps international customers shop for goods from Korean retailers, including secondhand goods, posted 48 billion won in gross merchandise value last year, marking a more than 200 percent increase from the previous year. Earlier this month, Bunjang, one of the biggest resale platforms in Korea, said the number of international users of the Bunjang Global platform surged 131 percent a year after its launch in July 2023. In October 2024, Bunjang teamed up with eBay to help domestic sellers sell their products in overseas markets. Bunjan

Mar 27, 2025By Nam Hyun-woo
Calls grow for deregulation on secondhand good exports
Banking & Finance

Hana Financial chair pledges assistance for struggling small businesses in Seoul

Hana Financial Group Chairman Ham Young-joo paid a visit to a small eatery in Seoul, where the business owner suffered significant damage due to a fire that broke out late last year, the group said Thursday. It was Ham’s first official customer engagement effort after having his term renewed with the overwhelming support of over 80 percent of shareholders on Tuesday. It shows the chairman’s commitment to a mutual growth drive with small- and medium-sized enterprises, a financially strained group burdened by high-interest costs and a stagnant economy, Hana said. The chair offered words of consolation and hope for the future. He visited a number of nearby businesses — their corporate borrowers — and stressed the importance of in-person, face-to-face time spent with customers. Ham also reiterated his commitment to customer-oriented financial services, as outlined under the “customer first” drive under the group’s overarching environmental, social and corporate governance (ESG) practices. Hana pledged to spend 10 billion won ($6.8 million) for 3,500 small businesses as part of t

Mar 27, 2025By Lee Kyung-min
Hana Financial chair pledges assistance for struggling small businesses in Seoul
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