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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
  • 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
  • Companies

    CU in China: Why South Korean retail giant is adopting 'online first' strategy

    3 MIN READBy SCMP
    CU in China: Why South Korean retail giant is adopting 'online first' strategy
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Banking & Finance

Insurers rush to hire ex-financial bureaucrats to cope with policy changes

Major insurers are appointing a significant number of outside directors with government and financial oversight experience during their annual shareholder meetings this month, a move seen as a bid to navigate regulatory changes, industry officials said Thursday. The move comes as the revised Act on Corporate Governance of Financial Companies, which introduces an accountability framework for financial firms, takes full effect this year. In addition, changes in accounting standards and other regulatory shifts have increased the need for close communication with financial authorities. Insurers are also preparing for potential policy shifts, caused by a change in administration amid the impending Constitutional Court ruling on President Yoon Suk Yeol’s impeachment. During its shareholders meeting on Wednesday, Hanwha General Insurance appointed Yoo Kwang-yeol, former first senior deputy governor of the Financial Supervisory Service (FSS), as a new outside director. Samsung Life Insurance plans to appoint Koo Yun-cheol, former minister of government policy coordination, as a new outside dir

Mar 19, 2025By Jun Ji-hye
Insurers rush to hire ex-financial bureaucrats to cope with policy changes
Companies

Samsung's chip chief pledges HBM3e leadership in AI processor market

Samsung Electronics Vice Chairman Jun Young-hyun said the company's fifth-generation high-bandwidth memory 3e (HBM3e) chip will play "a leading role" in the global artificial intelligence (AI) process market as early as the second quarter of this year.

Mar 19, 2025By Nam Hyun-woo
Samsung's chip chief pledges HBM3e leadership in AI processor market
Banking & Finance

Cash assistance more effective than tax deduction to boost births: report

The government should increase its cash assistance rather than reduce taxes to effectively support couples to have more children and help fight the country's demographic crisis, a new report said Wednesday.

Mar 19, 2025By Yi Whan-woo
Cash assistance more effective than tax deduction to boost births: report
Banking & Finance

FSS chief proposes public debate with biz community over Commercial Act revision

Lee Bok-hyun, governor of the Financial Supervisory Service (FSS), reaffirmed his opposition on Wednesday to a potential presidential veto of the Commercial Act amendment recently passed by opposition parties and proposed a public debate with business leaders critical of the change.

Mar 19, 2025By Jun Ji-hye
FSS chief proposes public debate with biz community over Commercial Act revision
Banking & Finance

Seniority-based promotions undermine Korea's labor productivity: BOK rate setter

The labor productivity of Korea’s overachieving, hard-working and competent pool of workers remains only half that of their U.S. peers, due largely to the Asian country's seniority-based promotions, a monetary policy board member of the central bank said Wednesday. The seniority-based promotions are defined by school, place of birth, family ties as well as mandatory short-term reshuffle limiting in-depth career expertise development. According to Bank of Korea (BOK) Monetary Policy Board member Chang Yong-sung, the decades of inefficiency in and misallocation of an academically stellar Korean workforce could be fixed with the performance-based evaluations used in the U.S., where job sorting matches workers to tasks based on their capabilities, promoting labor productivity and job satisfaction. He added that Korea’s contentious ongoing discussion of extending the retirement age is premature and bound to fail, unless preceded by greater labor flexibility and salary overhaul for highly paid older employees. “Korean workers in low-skilled, face-to-face professions are overqualified and

Mar 19, 2025By Lee Kyung-min
Seniority-based promotions undermine Korea's labor productivity: BOK rate setter
Companies

Korea to bar China's steel dumping via 3rd countries

The government will prohibit foreign steelmakers from circumventing Korea's antidumping regulations by exporting their products through a third country — a measure that is widely believed to target Chinese companies. The measure will require steelmakers to present more detailed information about the origins of their products, and will strengthen monitoring by relevant authorities. The government began a process to revise relevant ordinance for the new regulations. The series of regulations, announced on Wednesday, are countermeasures against risks facing the domestic steel industry, which has already been affected by Washington's imposition of universal 25 percent metal tariffs starting March 12. Under the new rules, mill test certificates showing more detailed information about the origin of steel products will be required for distributing those products in the domestic market. Additionally, a special team of 56 employees from the Korea Customs Service will conduct intensive crackdowns on the distribution of illegally imported steel products by the end of next month. "Due to uncertain

Mar 19, 2025By Park Jae-hyuk
Korea to bar China's steel dumping via 3rd countries
  • Korea refrains from taking immediate steps against Trump's metal tariffs
  • Antidumping tariffs on Chinese steel products draw backlash
Banking & Finance

As population shrinks, regional banks find growth in foreign customers

Regional banks are ramping up competition in providing specialized services for foreign nationals, anticipating they will soon become a key customer base, industry officials said Wednesday. While commercial banks remain reluctant to introduce credit loan products for foreign nationals, regional banks are taking a more open approach to attract customers. They are also expanding dedicated branches and outreach services, such as financial education. Jeonbuk Bank, based in North Jeolla Province, is making some of the most notable moves. It has led the market since 2016, when it became the first to introduce credit loan services for foreign nationals. JB Financial Group Chairman Kim Ki-hong has even set a goal of reaching 1 trillion won ($688 million) in loans for foreign nationals this year, more than doubling last year’s balance of 400 billion won. Jeonbuk Bank serves as the banking arm of the group. BNK Kyongnam Bank, based in South Gyeongsang Province, also introduced a credit loan product for foreign workers last October, while Busan Bank plans to launch a similar product by the end of

Mar 19, 2025By Lee Yeon-woo
As population shrinks, regional banks find growth in foreign customers
Companies

Krafton hosts global showcase for inZOI life simulation game

Krafton held a global showcase for its inZOI life simulation game on Wednesday and shared its development background and early access information.

Mar 19, 2025By Lee Min-hyung
Krafton hosts global showcase for inZOI life simulation game
Companies

IFEZ aims to become global K-content hub

Yeongjong and Cheongna international cities in Incheon are emerging as promising markets for Korea’s content industry as the Incheon Free Economic Zone (IFEZ) plans to develop the areas into a video and culture complex cluster, or K-Con Land, which will generate 50 million visitors.

Mar 19, 2025By Ko Dong-hwan
IFEZ aims to become global K-content hub
Business

Gov't expands mobile medical clinic services to bridge health gaps in aging rural towns

POCHEON, Gyeonggi Province — An auditorium inside the Gasan Sports and Culture Center, a local landmark in Gasan County in Pocheon, bustled with hundreds of older residents on Tuesday, a rare scene in the less developed area, located 60 kilometers north of Seoul.

Mar 19, 2025By Ko Dong-hwan
Gov't expands mobile medical clinic services to bridge health gaps in aging rural towns
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