Author: Seoul Reporter

Frank F&B, operator of the handcrafted burger franchise Frank Burger, was fined for partaking in unfair practices towards its franchisees, the antitrust regulator stated Sunday.The Truthful Commerce Fee (FTC) stated it imposed a fantastic of 641 million received ($448,032), together with corrective actions, for the corporate’s violations of the Franchise Enterprise Act.The corporate is accused of distributing franchise brochures containing false or exaggerated projected earnings to potential franchisees for a few yr from January 2021.It additionally allegedly pressured franchisees to buy 13 gadgets, together with forks and knives, completely from the headquarters, despite the fact that these weren’t obligatory for…

The 2025 Asia-Pacific Financial Cooperation (APEC) CEO Summit completed its four-day program on an upbeat notice, drawing participation from the leaders of the 21 APEC member economies and a few 1,700 international enterprise executives.Held from Oct. 29 to 31, the occasion efficiently served as a platform for international financial leaders to debate the way forward for synthetic intelligence (AI), vitality and different key industries. Central to these discussions was SK Group, whose chairman, Chey Tae-won, additionally served as summit host, because the group’s associates offered progressive concepts and directed contributors’ efforts to discover alternatives.Chey Tae-won, chairman of SK Group and…

SK Group Chairman Chey Tae-won mentioned Korea can play an important function “as a take a look at mattress” for the worldwide synthetic intelligence (AI) ecosystem, citing the nation’s power in adopting new applied sciences shortly and making use of them to the actual world.In an interview with Bloomberg TV on the sidelines of the Asia-Pacific Financial Cooperation CEO Summit in Gyeongju, North Gyeongsang Province, Chey mentioned Korea could not have as many sources as america or China, but it surely presents an excellent atmosphere for testing new AI applied sciences.“Our facet is nice for the take a look at.…

Samsung E&A Co. has secured a contract value $475 million (680 billion gained) to construct a low-carbon ammonia manufacturing plant within the US, marking its first-ever challenge within the rising clear ammonia sector.The South Korean engineering and development firm stated Thursday that it signed an engineering, procurement and fabrication (EPF) settlement with Wabash Valley Assets, a US-based power developer. The contract interval is 30 months.Below the challenge, Samsung E&A will assemble an eco-friendly facility in West Terre Haute, Indiana, able to producing 500,000 tons of ammonia per 12 months whereas capturing 1.67 million tons of carbon dioxide yearly. The ammonia…

The Nationwide Pension Service (NPS), South Korea’s state-run pension fund and the nation’s largest institutional investor, has posted a document revenue, buoyed by a robust rally in home equities that pushed the fund’s year-to-date return above 20% – the strongest efficiency amongst world public pension funds.

A particular counsel workforce has cited circumstances that Kim Keon Hee, spouse of former President Yoon Suk Yeol, might have been concerned in a collection of personnel requests for the presidential workplace below the earlier administration.On Wednesday, particular counsel Min Joong-ki’s workforce disclosed proof {that a} shaman concerned in Kim’s bribery case had requested the appointment of eight people to posts on the presidential workplace by Kim, shortly after the 2022 presidential elections.Two of them have been later confirmed to have labored on the presidential workplace, whereas one other was appointed as a consul common in September that yr.Investigators suspect…

Protection Minister Ahn Gyu-back reaffirmed South Korea’s dedication to pursuing each deterrence and dialogue in managing tensions on the Korean Peninsula, emphasizing the significance of regional cooperation, together with with China and different neighboring nations.Talking on the twelfth ASEAN Protection Ministers’ Assembly Plus in Kuala Lumpur on Saturday, Ahn warned that North Korea’s increasing nuclear and missile packages — together with its modernization of typical forces — pose a grave risk to peace and stability within the area.“The Ministry of Nationwide Protection will keep a robust deterrence posture by way of shut Korea-U.S. mixed protection readiness, whereas constantly pursuing a…

South Korea’s fifth homegrown army spy satellite tv for pc, launched from a U.S. area base in Florida on a SpaceX Falcon 9 rocket, efficiently entered orbit, the protection ministry stated Sunday, in a transfer anticipated to bolster its unbiased surveillance capabilities.The Falcon 9 lifted off at 1:09 a.m. Sunday (U.S. time) from Cape Canaveral House Drive Station as deliberate and positioned the reconnaissance satellite tv for pc into orbit about 14 minutes after liftoff, in response to the ministry.The ministry later confirmed that the satellite tv for pc succeeded in speaking with a floor station about an hour after…

North Korea’s Goryeo Soybean Paste Liquor / Courtesy of Tourism DPRKEfforts to promote North Korean-made liquor in South Korea have stalled after regulators rejected an import registration over lacking security paperwork.The unidentified importer introduced in about 3,500 bottles of Goryeo doenjang (soybean paste) liquor and deuljjuk (bathroom bilberry) liquor via Incheon Port in September, after receiving prior approval from the Ministry of Unification.However the Ministry of Meals and Drug Security later denied registration for the merchandise, citing the importer’s failure to supply documentation verifying the abroad manufacturing website, the unification ministry mentioned Sunday.The choice was made beneath the Particular Act…

GYEONGJU – China could also be inching nearer to lifting its unofficial ban on South Korean leisure, as President Xi Jinping appeared receptive to a proposal for a large-scale Ok-pop live performance in BeijingThe transfer, proven on the sidelines of the Lee-Xi assembly as a part of the APEC 2025 Summit within the southeastern metropolis of Gyeongju on Saturday, is a transparent gesture that has rekindled hopes of a long-awaited thaw in the “Korean wave” ban, analysts stated.Kim Younger-bae, a ruling Democratic Social gathering lawmaker who accompanied President Lee to the bilateral summit, wrote on social media that Xi “responded…