Genesis BBQ Group Chairman Yoon Hong-geun received an official commendation from the New York Police Department for his contributions to enhancing the public safety of 32nd Street in Manhattan's Koreatown, the firm said Wednesday. The Korean fried chicken franchise has been implementing increased security measures at its US branches while offering police officers special discounts to encourage them to visit, which has helped reduce crime in the area. Genesis BBQ currently operates over 250

South Korea's largest tobacco company KT&G has unveiled a new shareholder return plan worth 2.8 trillion won ($2.1 billion), together with future business plans, during an online investor relations event. During the event held Monday under the title "KT&G Value Day," the company renewed its commitment to improving shareholder benefits from a long-term perspective. Under the new plan, which kicks off next year, the company plans to pay 1.8 trillion won in dividends, and to

South Korean shipbuilder Hanwha Ocean said Monday that it will expand investment in its wind power business from the initial target of 200 billion ($151 million) to 300 billion won to secure an edge in the burgeoning industry. The company said it plans to issue new shares to raise capital for the planned investment. Currently, the global market for offshore wind power generation is growing at an annual rate of 18 percent. The field is expected to become one of the major renewable energy sources

South Korean food giant Samyang Roundsquare, formerly known as Samyang Foods Group, has been rapidly expanding its global presence with the soaring popularity of its bestselling spicy ramyeon products. Over the past decade, its flagship Buldak Ramyeon has established itself as a leading Korean brand, gaining footholds in a total of 95 countries. Since the export of Buldak series came into full swing in 2016, Samyang’s earnings have also seen a surge. The company posted 909 billion won ($

South Korea’s leading beverage maker Dong-A Otsuka said Friday that it delivered scholarship funds worth 5 million won ($3,800) to Shin Su-min, a teenage modern pentathlete, at the 17th Youth Hero Prize ceremony hosted by the Korea Scout Association. The award, launched in 2007 by the KSA, aims to nurture future talents by recognizing prospective youths in a total of five categories including physical sports, academics, culture & art, community service, and scouting. Among those five

Hanlim Architecture Group, Korea’s comprehensive real estate service company, said Friday that its Indian unit, Hanlim India, inked a partnership deal with India's construction and management company Innovative Construction, as part of its plans to secure a foothold in the country’s burgeoning real estate industry. The agreement was signed earlier this week during an eight-day business trip by Hanlim executives to India’s major cities, including Mumbai and New Delhi. Durin

Citibank Korea said Wednesday that it hosted a seminar for corporate clients to inform them about the procedures for gaining approval from the Science Based Targets initiative, a global climate organization, for their carbon reduction targets. The SBTi, jointly founded in 2015 by the World Wide Fund for Nature, the Carbon Disclosure Project and the United Nations Global Compact, defines and provides science-based international standards to verify the objectivity of carbon emission targets in bus

South Korean steelmaker Posco on Wednesday held a 10th-anniversary ceremony of its social outreach foundation called "Posco 1 percent Foundation," to reflect on its outcomes over the past decade and to honor those who made outstanding contributions to the campaign. The foundation has been run by voluntary participation of its employees and executives who donate 1 percent of their wages which is then used to organize social outreach programs both at home and abroad to support underpri

South Korean game developer and publisher Nexon has proved its global competitiveness in intellectual property through the two latest original titles -- Dave the Diver and Wars of Prasia. Shortly after its global release on June 28, the adventure video game Dave the Diver topped the July weekly sales chart on Steam, the US-based PC game distribution platform. It was also introduced and recommended by several major media outlets, including The Washington Post. As of September, the game's cum

The American Chamber of Commerce in Korea on Tuesday hosted the AmCham SME Collaboration Forum in Seoul to explore diverse collaboration opportunities between global companies and Korean small and medium-sized businesses in the evolving field of artificial intelligence. Several key government officials from South Korea and the US, including Rep. Ahn Cheol-soo of the ruling People Power Party, and Andrew Gately, minister counselor for commercial affairs from the US Embassy in Seoul, attended th

South Korea’s e-commerce giant Coupang said Monday it has opened its second logistics center in Taiwan a year after starting its foray into the market, with plans to launch a third one in the first half of next year. The new fulfillment center, located in the northwestern city of Taoyuan, is a highly automated facility using artificial intelligence and machine learning to predict and analyze customer demand and inventory. The inaugural ceremony of the second fulfillment center was held in

Hana Bank is set to roll out a comprehensive financial support scheme worth 100 billion won ($75.6 million) to support small and medium-sized businesses, amid a prolonged economic slowdown and high interest rates. The program aims to offer cashback on interest payments, subsidies on utility and telecommunication bills as well as consulting services to a total of 308,500 individual business owners, according to the bank Sunday. It will be implemented in phases starting next month, alongside its

South Korea’s government procurement agency said Thursday that a delegation from the Iraqi Kurdistan government visited its headquarters in Daejeon to learn about Korea’s e-procurement system and the latest developments in the country's public procurement administration. The delegation consisted of 14 government officials from various ministries of the autonomous region, including the Ministry of Planning, Ministry of Internal Affairs and Ministry of Construction. The on-site vi

Hana Financial Group Chairman Ham Young-joo (center) and company officials make kimchi at the group's headquarters in Seoul on Wednesday, as part of its social outreach program, the "Everyone's Hana Day" campaign. Over the next two months, Hana plans to carry out diverse social contribution activities such as making braille tools for people with blindness or low vision, and offering educational programs for children. (Hana Financial Group)

The American Chamber of Commerce in Korea said Wednesday that its delegation successfully concluded the three-day trip to Washington from Oct. 24-26, as part of its annual business promotion program it calls “Doorknock.” Over the course of three days, the delegation reaffirmed bilateral ties the two countries have established over the last seven decades, convening with key government officials of the Joe Biden administration as well as members of the US Congress. It also held over 30

LG Electronics said Wednesday that it was supplying its in-vehicle infotainment system for Hyundai Motor Group’s upcoming Genesis vehicles from next year, allowing both drivers and passengers to stream a variety of entertainment content, including YouTube videos. The new system is based on LG’s own webOS that has already been operating on 200 million units of LG smart TVs worldwide. LG, Hyundai and YouTube have teamed up to adjust the system to enable the YouTube app to run on moving

NCSoft, one of South Korea's major game developers and publishers, is set to showcase its latest entertainment content via various on-site events at the upcoming global game expo, G-Star 2023, to be held in Busan Nov. 16-19. A total of 200 booths will be featured to have demos, events and special stage zones at Korea's largest game trade show, according to the company, Tuesday. Visitors can test out three new titles slated for global debut, including shooting game "LLL," ac

Mirae Asset Financial Group founder and Chairman Park Hyeon-joo will sit down with the younger generation to better communicate with them at a private luncheon to be held in Seoul on Dec. 11, the Federation of Korean Industries said Tuesday. Earlier in May, the business lobby invited Hyundai Motor Group Chief Executive Chung Euisun along with car-sharing company SoCar CEO Park Jae-uk and TV celebrity Noh Hong-chul to take part in the event, akin to Warren Buffett's famous annual charity l

HD Hyundai Oilbank announced Tuesday that it has signed two new agreements to secure some 80,000 tons annually of palm fatty acid distillates, a key renewable raw material for biodiesel production, as part of its push to propel its biofuel business. Through the latest deals, Hyundai has managed to stabilize and bolster the supply chain for its biodiesel plant with a total annual capacity of 130,000 tons, set to be operational by the end of this year, the company added. In an agreement inked with

South Korean food giant CJ CheilJedang announced Monday that cumulative sales of its frozen fried rice products manufactured in the US have surpassed 100 billion won ($74 million) in the country, on the back of the rising popularity of Korean food among American consumers. The figure is expected to rise to some 130 billion won by the end of the year, the food giant added. The upbeat earnings are attributed to the acquisition of major US food firm Schwan's Co. in 2019, which helped it secure