A court on Thursday approved a bail request by Hur Young-in, the chair of bakery giant SPC Group, who is currently standing trial on charges of coercing bakers to quit their labor union. The 74-year-old bakery mogul was arrested in April and has since been standing trial in detention on charges of pressuring some 570 union members at an SPC subsidiary to quit their union between early 2021 and mid-2022 over their labor activities critical of the company. The Seoul Central District Court approved

An appeals court on Friday cleared Hur Young-in, founder and chair of South Korean bakery giant SPC Group, of tax evasion charges, bringing an end to the year-long legal dispute. The Seoul High Court upheld a lower court ruling that found the SPC chief not guilty of breach of trust. Hur faced allegations of instructing group affiliates Paris Croissant and Shany to sell stocks of Mildawon, another SPC company producing flour, to SPC Samlip at lower prices in December 2012 that, according to prose

Tensions are escalating over the liquidity crisis of online shopping platforms WeMakePrice and Tmon, both owned by Singapore-based e-commerce company Qoo10, sparking massive complaints and fears of wider damage. The platforms failed to pay money owed to sellers in May, prompting traders to leave the platform as well as customer complaints. In an urgent press conference Thursday, Ryu Hwan-hyun, CEO of WeMakePrice, said the value of delayed payments by the company was some 4 billion won ($2.9 mill

UOB reinforces leadership position in travel and entertainment through strengthening its partnership ecosystem to offer exclusive privileges to its ASEAN customers SINGAPORE, July 17, 2024 /PRNewswire/ -- Singapore bank UOB and leading South Korean card company Woori Card, a subsidiary of Woori Financial Group, today announced the signing of a Memorandum of Understanding (MoU) on a groundbreaking reciprocal card partnership, where cardholders from each company are able to enjoy card privileg

SPC Group, the Korean operator of Baskin Robbins, said Wednesday that it is set to launch a new ice cream flavor co-developed by Google’s artificial intelligence model Gemini. The new flavor, named Tropical Summer Play, is Baskin Robbins’ first attempt globally to use AI to create an ice cream flavor. The Korean operator said the attempt comes as part of its business initiative to integrate AI and big data analytics into the food industry. “Through this project, we have confirm

DUBAI, UAE, July 1, 2024 /PRNewswire/ -- Dar Global, the luxury international real estate developer, and The Trump Organization, renowned for its prestigious properties and iconic developments worldwide, have announced plans to develop a new project in Jeddah, Saudi Arabia. This new agreement builds on the tremendous success of The Trump International Oman project within the AIDA development, one of the largest premium mixed-use real estate projects in the world, which has already received remar

DUBAI, UAE, June 26, 2024 /PRNewswire/ -- Dar Global, the luxury international real estate developer, introduces Trump International Oman at its expansive AIDA project, one of the world's largest premium mixed-use real estate developments.   DAR GLOBAL SETS A NEW BENCHMARK IN LUXURY HOSPITALITY WITH LAUNCH OF THE $500 MILLION TRUMP INTERNATIONAL OMAN IN AIDA   Valued at $500 million, this development includes a luxury hotel, hanging suites, furnished villas, an

Exports are vital for South Korea to generate national wealth, and boosting them requires a collaborative effort between the government and businesses, First Vice Industry Minister Kang Kyung-sung said at the Global Business Forum in Seoul on Wednesday. “As Korea remains one of the world's most export-dependent industrialized nations, more exports mean more people living well. Therefore, the raison d'etre of the Ministry of Trade, Industry and Energy is to increase exports,"

South Korean bakery giant SPC Group has been fully absolved of a 64.7 billion won ($46.8 million) fine, as the Supreme Court upheld a ruling in the company's favor in its lawsuit against the nation's antitrust watchdog for allegedly unfairly supporting its affiliates. The Supreme Court confirmed on Monday a lawsuit filed by five SPC Group affiliates, including SPC Samlip, against the FTC, to cancel the fine. In July 2020, the FTC claimed that SPC funneled a total of 41.4 billion won in

Samyang Roundsquare, the South Korean food giant renowned for its spicy Buldak ramyeon series, acknowledged that it wasn't until 2014 that the company recognized the importance of social media marketing after a viral video by Joshua Daryl Carrott, creator of the YouTube channel Korean Englishman, showcasing Buldak products. “We cannot say that the very beginning of the Buldak series, which launched in 2012, was successful. However, as it gained more traction with the Buldak Challenge

SPC Group said Thursday its bakery chain Paris Baguette had launched its first store in the Philippines. The new Paris Baguette branch in Manila features wooden interiors, designed to create a premium European bakery ambiance, and is located on the first floor of the SM Mall of Asia, the largest shopping center in the Philippines, with a total of 90 seats available. In August, SPG Group signed a franchise agreement with a local retailer Berjaya Food Berhad. This deal falls under the so-called &q

Hur Young-in, the chairman of South Korean bakery giant SPC Group, was arrested on Friday for allegedly forcing workers to quit their labor union. The Seoul Central District Court on Friday issued an arrest warrant for the 74-year-old chairman on suspicion of violating the Trade Union Act, citing concerns that Hur may try to destroy evidence. With the warrant, prosecutors will take the chairman into custody and investigate if Hur was involved in anti-labor practices for a maximum of 20 days. Hur

Prosecutors arrested Hur Young-in, chair of South Korean bakery giant SPC Group, after he repeatedly failed to comply with being summoned for an investigation. The 74-year-old is under investigation for his suspected involvement in forcing bakers at PB Partners to quit their membership in the Korean Confederation of Trade Unions umbrella labor group, between 2019 and 2022. PB Partners is SPC's subsidiary in charge of recruiting and training bakers for bakery chain Paris Baguette. Prosecut

SPC Group's bakery chain Paris Baguette is poised to enter the Italian market in collaboration with Italian coffeehouse chain Caffe Pascucci. SPC Group Chair Hur Young-in inked a business agreement with Mario Pascucci, CEO of the Italian coffee brand Caffe Pascucci, during Pascucci’s visit to Korea on Sunday, for the Korean franchise bakery's expansion to Italy. Paris Baguette's entry into Italy will mark its third expansion into Europe, following launches in France and Brit

Fair Trade Commission Chair Han Ki-jeong on Thursday shared the key policies of the antitrust regulator for this year, including the controversial anti-monopoly platform bill, at a conference hosted by the American Chamber of Commerce in Korea. “The Fair Trade Commission will strive to establish a fair market economy system that serves as the basis for economic stability and market innovation,” Han said, citing deepening inflation and high interest rates as continued economic difficu