Intel CEO Pat Gelsinger is planning to visit Korea in early June to attend the company's global conference in Seoul, according to industry sources Monday. The AI Summit event, which is held multiple times a year across countries, typically highlights Intel’s local subsidiaries. It shares knowledge on the intersection between artificial intelligence technology and business models for key players in the industry. Sources predicted the summit will be held on June 5, which will mark the

New space facility capable of making up to 8 satellites per month

Korean food and beverage companies are increasingly entering the Japanese market in pursuit of broader opportunities, largely driven by a saturated market at home and to capitalize on the rising popularity of Korean cuisine in the neighboring country. As of 2023, Japan saw a total of 19 Korean food franchises operating a combined 133 branches nationwide. According to the state-run Korea Agro-Fisheries & Food Trade Corp. (aT), Japan was the fourth most popular destination for Korean franchise

Opening first store in former McDonald’s building, CEO confident of luring picky Japanese customers with Korean-style burgers

Telecom giant eyes W5tr in media sales by 2025

MBK Partners Chairman Michael ByungJu Kim has recently donated $25 million to his undergraduate alma mater, Haverford College, according to the asset manager's announcement on Monday. The $25 million donation, the largest amount in the school's history, was made on April 23. It will fund the establishment of the Institute for Ethical Inquiry & Leadership at the liberal arts college in Haverford, Pennsylvania. “Ethical inquiry is at the core of a Haverford education, and leade

Korea Ginseng Corp., a global leader in ginseng production, has significantly enhanced its brand positioning and visibility through its marketing strategies that prominently feature Lim Young-woong. Lim, a trot singer with an avid fan base, has recently been named the ginseng brand's brand model. The marketing campaign kicked off with the release of an advertisement featuring Lim on YouTube on Wednesday, which rapidly gained traction by accumulating over 2 million views within 40 hours. The

CJ Foodville said Monday it has opened two new Tous Les Jours branches in Cambodia, as part of efforts to broaden its foothold in Southeast Asia. The two new branches, which opened Friday in Kam Puchea Kroum and Toul Tom Poung in the country’s capital, Phnom Penh, mark the first locations for CJ Foodville to showcase the Tous Les Jours brand in the country. According to the company, both of the new branches feature a hybrid concept of cafe and bakery elements, boasting a selection of over

Kumho Tire held a brand experience day at the Vairano Circuit in Milan on April 21 to offer European dealers hands-on experiences with the Korean brand, the tire maker said Monday. The company plans to bolster its presence in the European market even further, as it has seen an average of 20 percent annual growth rate in its regional revenue over the last five years. The Korean tire maker has set out the record-high goal of reaching 4.56 trillion won ($3.3 billion) in annual sales this year after

SK Innovation Co., South Korea's leading refiner by sales, said Monday its net losses widened in the first quarter from a year earlier due mainly to foreign-exchange losses. Net losses deepened to 97.62 billion won ($71 million) in the first quarter from 51.95 billion won in the year-ago period, the company said in a statement. "A weak won, which drove up import prices of crude oil and decreased equity gains from SK On, weighed on the quarterly bottom line," a company spokesperson

Heightened pressure puts banks in tricky position for growth, says Fitch Ratings director

South Korea's leading telecom carrier, KT Corp., announced Sunday that the company will introduce new 5G mobile plans for foreign national residents starting Monday. “KT decided to introduce new mobile plans as there are not enough plans specifically for foreigners despite the increasing number of foreign residents in the country,” KT said. According to the Ministry of Justice, the number of long-term residents with nationalities other than Korean here grew to 1.9 million as of

Amid major reform push at Kakao, game developer affiliate moves to stop using English names in office

Shinhan Financial Group Chairman Jin Ok-dong on Friday cleans up the home of a family with multiple children, as part of the group’s volunteer program to support financially vulnerable groups. Shinhan plans to donate 150 million won ($109,000) to aid financially vulnerable families with multiple children. Following Friday's activity, Jin noted, "Shinhan Financial Group will continue paying attention to families with many children and will spare no effort in addressing the natio

Lee Jae-yong travels to Europe to inspect local operations, meet with business partners