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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

Alaska Airlines to begin Incheon-Seattle flight Sept. 13

Alaska Airlines will launch a new nonstop service between Incheon and Seattle starting on Sept. 13, using the long-haul, wide-body Airbus A330-200 aircraft. According to the airline, the Incheon-Seattle route will operate five times a week — on Monday, Thursday, Friday, Saturday and Sunday. The flight departs from Incheon International Airport at 8:50 p.m. and arrives at Seattle-Tacoma International Airport at 3 p.m. on the same day. Return flights, which operate on Wednesday, Thursday, Friday, Saturday and Sunday, depart Seattle at 3:25 p.m. and arrive in Incheon at 6:50 p.m. the following day. The new service is timed just ahead of a series of holidays — National Foundation Day, the Chuseok holiday and Hangeul Day, which runs from Oct. 3 to 12 — providing travelers the chance to enjoy a long weekend in Seattle, often referred to as the “Emerald City.” The airline is also considering adding its flagship Boeing 787 Dreamliner to the route in the future. “With our robust network, we can connect our guests through our global gateway in Seattle for convenient nonstop service to S

Mar 26, 2025By Lee Min-hyung
Alaska Airlines to begin Incheon-Seattle flight Sept. 13
Companies

Starbucks collaborates with 'Peanuts' for Snoopy beverages, merch

Starbucks Korea will launch new Snoopy-inspired beverages and merchandise on Thursday. This marketing initiative follows a partnership between Starbucks Coffee Company in Seattle and "Peanuts," the comic strip featuring the globally known beagle Snoopy, Charlie Brown and his lovable gang. The partnership is a new campaign “celebrating kindness, coffee and community.” At the center of the campaign is Snoopy’s persona, Joe Kind Snoopy. The campaign will feature new coffee drinks, food and merchandise featuring Joe Kind Snoopy, including a frappuccino, a latte, a macaron, mugs and tumblers. The campaign kicks off in more than 80 percent of Starbucks stores worldwide, including those in North America, Europe, the Middle East, North Africa, China, Latin America, Asia-Pacific and Japan. The promotion will run until next month. Starbucks said the campaign was inspired by the "Peanuts" core of community and kindness and represents its latest commitment to making a positive impact in the communities it serves. “This promotion celebrates the belief that even the smallest acts of goodwill can

Mar 26, 2025By Ko Dong-hwan
Starbucks collaborates with 'Peanuts' for Snoopy beverages, merch
Companies

KCCI chairman calls for shift in Korea’s export-centric economic model

Korea Chamber of Commerce and Industry (KCCI) Chairman Chey Tae-won called for a reassessment of the country's traditional economic model of “exporting goods manufactured in Korea,” in light of growing geopolitical and trade risks beyond its control. Chey made the remarks following his recent visit to the United States, where he led a Korean business delegation to meet key officials from the Donald Trump administration — including Secretary of Commerce Howard Lutnick — in an effort to prevent potential trade challenges from the new U.S. administration. Despite these efforts, critics alleged that the outreach campaign was fruitless, as Washington continued to tighten its grip on the Korean economy by imposing new tariffs and using other economic tools to draw more investments from Korean companies into the U.S. During a press conference Tuesday marking his fourth year as KCCI chairman, Chey said the delegation received favorable feedback from the U.S., but at the same time noted that trade issues stemming from U.S. tariffs are among the key factors keeping the Korean economy “f

Mar 26, 2025By Nam Hyun-woo
KCCI chairman calls for shift in Korea’s export-centric economic model
Companies

Czech president inspects Doosan Enerbility's local subsidiary amid nuclear project talks

Czech President Petr Pavel has visited Doosan Enerbility's subsidiary in the Czech Republic, the company said Wednesday, amid the South Korean plant builder's preparations for an expected nuclear power project in the European country. According to the company, Pavel visited Doosan Skoda Power, Doosan's Czech-based turbine unit, as part of the president's tour of major industrial sites in the country's western city of Plzen on Tuesday. During the visit, the company showcased its steam turbine manufacturing facilities and briefed the president on its preparations for a nuclear power plant project in Dukovany. In July 2024, the Czech government selected Korea Hydro & Nuclear Power as the preferred bidder for the Dukovany project. Upon the signing of a final contract, Doosan Skoda Power is expected to supply steam turbines, while other key equipment, such as reactors and steam generators, will be provided from South Korea. "The visit was a meaningful opportunity to demonstrate our steam turbine production capabilities to President Pavel," said Sohn Seung-woo, head of Doosan Enerbility's power

Mar 26, 2025By yonhap
Czech president inspects Doosan Enerbility's local subsidiary amid nuclear project talks
Banking & Finance

Watchdog chief urges MBK Partners to share 'pain' over Homeplus fiasco

The chief of the country's financial watchdog called on private equity firm MBK Partners Ltd. to be more responsible for the recent Homeplus fiasco Wednesday. Since last week, the Financial Supervisory Service (FSS) has been inspecting MBK Partners to look into whether there have been any flaws in the process of the private equity fund-controlled retailer's short-term debt sale and its filing for court rehabilitation. On March 4, Homeplus entered court-led rehabilitation proceedings after two rating appraisers lowered the rating of its corporate bonds to A3- from A3, citing the company's lack of efforts to improve its financial health. The company issued asset-backed short-term bonds (ABSTBs) worth 82 billion won (US$56.3 million) through Shinyoung Securities on Feb. 25, despite being notified by a credit rating agency on the same day that its rating was likely to decline. In a radio interview, Lee Bok-hyun, the head of the FSS, raised questions over Homeplus's recent plan to pay off some 400 billion won worth of ABSTBs. "We can't believe MBK's plan, and I think they are cheating us," Lee

Mar 26, 2025By yonhap
Watchdog chief urges MBK Partners to share 'pain' over Homeplus fiasco
Companies

LG Energy wins ESS battery supply deal in Taiwan

LG Energy Solution (LGES), Korea's leading battery maker, said Wednesday it has signed a five-year deal with a Taiwanese company to supply batteries for residential energy storage systems (ESSs) in the United States. LGES will provide Delta Electronics, Inc. with lithium iron phosphate (LFP) batteries for the 4-gigawatt-hour (GWh) residential ESS systems for five years through 2030, the company said in a press release. The LFP batteries will be produced at LGES' plant in Michigan, it said. The Taiwanese electronics firm plans to begin selling the LFP battery-equipped residential ESS systems in the U.S. market later this year, the release said. LGES expects the latest deal will help it receive further ESS battery deals in the U.S. The U.S. residential ESS market is expected to grow to 6.76 trillion won ($4.74 billion) by 2030 from 1.28 trillion won in 2022, according to global market research firm Fortune Business Insights. In North America, LGES currently operates three battery cell plants — the first and second plants under a joint venture with General Motors Co. and the third in Hollan

Mar 26, 2025By yonhap
LG Energy wins ESS battery supply deal in Taiwan
Companies

Combined operating profit of top 500 firms jumps 66% in 2024, mainly on chip boom

The combined operating profit of Korea's top 500 companies surged 66 percent from a year earlier in 2024, driven largely by a rebound in the global semiconductor market, a report showed Wednesday. According to the report from corporate tracker CEO Score, the total operating profit of the top 500 firms reached 183.7 trillion won ($125.3 billion) in 2024, up from 110.6 trillion won the previous year. The companies' combined annual sales rose 5.8 percent to 2,523 trillion won from 2,384 trillion won in 2023. Net profit jumped 74.5 percent over the same period. The sharp rise in operating profit was led mainly by the strong performance from chipmakers SK hynix and Samsung Electronics amid robust demand for artificial intelligence (AI) memory products. SK hynix recorded the largest growth, swinging to an operating profit of 23.5 trillion won from a 7.7 trillion-won loss in 2023, marking a gain of over 31.2 trillion won. The company benefited from soaring demand for high bandwidth memory (HBM), a key component for AI semiconductors. Samsung Electronics posted the second-largest increase, with it

Mar 26, 2025By yonhap
Combined operating profit of top 500 firms jumps 66% in 2024, mainly on chip boom
Companies

Microsoft CEO in Korea for AI meetings with biz leaders

Satya Nadella, CEO of Microsoft, visits Korea this week to meet Korean business leaders and discuss cooperation in artificial intelligence (AI) and other areas, people close to the matter said Tuesday. Nadella arrived in Seoul earlier in the day and began his trip to Seoul with a meeting with Suh Kyung-bae, chairman of major Korean cosmetics producer Amorepacific. They discussed efforts to work together on utilizing AI technology in the beauty industry, people with knowledge of the matter said. Nadella met with Kim Young-shub, CEO of mobile carrier KT, and Chung Ki-sun, senior vice chairman of major shipbuilder HD Hyundai, for discussions likely to have focused on AI model upgrades and cloud services. KT and Microsoft have agreed to a joint five-year investment, worth about 2.4 trillion won ($1.63 billion) to launch public cloud security in the second half. Nadella also met with the head of Galaxy Cooperation, the entertainment agency K-pop singer G-Dragon is under, to discuss preparations for the singer's planned AI-integrated concert in Las Vegas next year. Nadella is scheduled to give a

Mar 25, 2025By yonhap
Microsoft CEO in Korea for AI meetings with biz leaders
Banking & Finance

Banks rush to introduce collaborative accounts with popular companies

Four major commercial banks — KB, Shinhan, Hana and Woori — are partnering with leading companies in the commerce sector to encourage more customers to open bank accounts, industry officials said Tuesday. The target audience consists of millennials and Gen Zers, known as brand-conscious consumers with a significant influence on corporate marketing strategies. The banks' strategies focus on offering accounts branded with a partner company's name, providing account holders with various financial benefits when they use the partner company's products and services. In April, KB Kookmin Bank plans to launch the tentatively named "Starbucks Account" in collaboration with Starbucks Korea, the country’s leading coffee franchise. While the country’s largest lender did not specify the benefits to be offered, industry officials speculate that they may include an unusually high deposit interest rate. “The KB Kookmin Bank-Starbucks Korea partnership can appeal to millennials and Gen Zers considering each company is the top brand from their respective industry,” a market observer said. Both S

Mar 25, 2025By Yi Whan-woo
Banks rush to introduce collaborative accounts with popular companies
Banking & Finance

Hana Financial chairman kicks off 2nd term with overwhelming shareholder support

Hana Financial Group Chairman Ham Young-joo secured a second term with an overwhelming shareholder support rate of 81.2 percent, thanks to its largest shareholder, the National Pension Service (NPS), and most offshore investors, the group said Tuesday. His extended term will last through March 2028. Shareholders recognized the group’s record performance under his leadership, largely quashing growing criticism from proxy voting advisories. The term extension was widely expected, as indicated by nearly 44 percent of the over 281.6 million offshore voting shares cast during the early online voting commissioned by the Korea Securities Depository. This, along with the state pension fund’s stake of 26.5 million shares — accounting for about 9.4 percent — helped the chair secure the yes votes by a comfortable margin. The offshore investors’ collective move was a major shift from three years ago. In 2022, a majority of offshore investors opposed Ham's appointment. Driving the support is the group’s net income of over 3.7 trillion won in 2024, up 9 percent from a year earlier. The group

Mar 25, 2025By Lee Kyung-min
Hana Financial chairman kicks off 2nd term with overwhelming shareholder support
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