Journalist
Candice Kim, Lim Jaeho
candicekim1121@ajupress.com, ajupresswogh@ajupress.com
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Chipotle lands, In-N-Out pops up — Korea rises as test kitchen for Western tastes SEOUL, October 17 (AJP) - South Korea is fast becoming the test kitchen for Western food giants eyeing Asia. Chipotle, one of America’s leading fast-casual chains, has chosen Seoul to gauge Asian palates for its Mexican flavors, while California-based In-N-Out Burger has returned with a second pop-up event — underscoring how Western brands increasingly view Korean “Zenners” as the first benchmark to crack the regional market. Chipotle last month partnered with Korea’s SPC Group to open its first restaurants in South Korea and Singapore in 2026, marking its first Asian venture in a decade. The U.S. burrito chain, which operates more than 3,800 locations worldwide, posted $3.06 billion in second-quarter 2025 revenue, up 3 percent on year, following double-digit growth through 2024. “I’ve been waiting 13 years for Chipotle to come to Korea. Now I can finally taste the same burrito bowls I had in the U.S.,” said Jennifer, a 30-year-old Seoul resident who frequented the chain while living in California. Whether the enthusiasm can last is another question. Korean consumers are notoriously demanding and adventurous, often flying overseas purely for new dining experiences. Five Guys debuted in Seoul’s Garosu-gil in June 2023 with much fanfare, selling 30,000 burgers in its first week, but its importer Hanwha Galleria is now reportedly reviewing its partnership amid slowing sales. Shake Shack Korea, which topped global sales in 2017 after its Gangnam launch a year earlier, has also lost luster as boutique local burger brands won over customers with greater customization and freshness. That demanding market has long fascinated In-N-Out, whose pop-ups spark feverish anticipation. Its latest event on Wednesday in Seoul’s Cheongdam district — the second after 2019 — drew hours-long lines. “I tried to get an Animal-Style burger at the 2019 pop-up but couldn’t — it sold out after I waited two hours. This time I came three hours early,” said James Kim, 32. Still, both the chain and its local partners remain cautious about sustaining that buzz. Timing, experts say, is crucial. “When Taco Bell entered Korea in 2010 and 2014, the timing wasn’t right — Korean consumers had little exposure to Mexican food. But now their tastes have broadened, so Chipotle might fare differently,” said You Hyun Alex Suh of the Consumer Trend Analysis Center. Success will hinge on how fast newcomers adapt to local preferences — sometimes at the cost of brand identity. A Cinnabon Korea spokesperson said the chain drastically reduced sugar content to suit local tastes. “We had to tone down the sweetness significantly because most Koreans don’t like overly sweet desserts,” the spokesperson said. The shifting landscape mirrors a wider change across Asia’s food scene, where Korean consumers are seen as early adopters setting trends for neighboring markets while insisting on customization, quality, and health consciousness. “How well Chipotle manages to balance authenticity with adaptation will determine whether it thrives here — or ends up like others who couldn’t,” said Suh. 2025-10-17 16:30:23 -
Chinese shoppers turn increasingly budget in Korea, duty-free shops shift strategy SEOUL, October 16 (AJP) - Chinese tourists are returning to South Korea in full force under the one-year visa waiver for group travelers, but their spending behavior has changed dramatically. Rather than binge shopping at duty-free stores, visitors are now showing a preference for budget-friendly and value-driven purchases. The post-pandemic shift reflects growing familiarity among Chinese consumers with Korean brands and retail platforms. Instead of traditional package-tour splurges, travelers are opting for self-directed shopping experiences centered on price and authenticity. Curated local franchises such as Olive Young, Daiso, and Musinsa — collectively dubbed “Ol-Da-Mu” — have become must-visit stops for young Chinese tourists seeking Korean beauty, fashion, and household goods. “Since COVID, travel patterns from China have changed drastically,” said a Seoul-based travel analyst. “Before, group tourists consumed heavily in duty-free and luxury. Now, they travel more flexibly, plan their own itineraries, and buy mid-priced or unique brands they’ve seen on social media. Ol-Da-Mu is popular among Chinese influencers, so many visitors decide in advance what to buy and hunt for those items locally.” Duty-free retailers, once reliant on high-volume Chinese spending, are now adapting quickly. Shinsegae Duty Free has expanded its premium beauty-device lineup at its Myeong-dong flagship store, launching a pop-up for MediCube’s Age-R Booster Pro — currently the best-selling beauty gadget among departing travelers. “Tourists from China, the U.S., Vietnam and other countries visit our booth,” a Shinsegae official said. “As interest in beauty devices grows globally, visitors in Myeong-dong are showing strong curiosity.” Foreign sales at Shinsegae’s Myeong-dong store rose about 25 percent during the Chuseok holiday period (Oct. 1–8), with younger Chinese travelers driving much of the growth. The company plans to expand premium device offerings to capture this evolving demand. Nationwide, the beauty-device segment is booming. MediCube’s sales jumped 102 percent between the second half of 2024 and the first half of 2025, according to Shinsegae. “Nowadays, the devices are so good that I’ve stopped going to dermatology clinics altogether,” said 32-year-old Seoul resident Yea-ji Park. “The high-frequency treatments I used to get can now be done freely at home.” “Korean beauty brands have built strong trust,” added Lee Ye-eun, a beauty show host. “While many devices are expensive, users see them as cost-effective compared with clinical treatments. People don’t spend on unknown brands — only trusted names with proven results.” According to the Korea Tourism Organization, about 2.52 million Chinese tourists visited Korea in the first half of 2025, up 13.8 percent from a year earlier. The reinstatement of China’s visa-free entry program on September 26 is expected to further accelerate arrivals in the coming months. 2025-10-16 17:11:40 -
AI boom gushes down to midstream, buoying Asian fab operators SEOUL, October 15 (AJP) - Investors are closely watching third-quarter earnings from Taiwan’s foundry leader TSMC and South Korea’s AI memory powerhouse SK hynix to gauge the depth of surging demand for artificial intelligence chips—especially after stronger-than-expected results from Samsung Electronics. Samsung Electronics on Tuesday reported record quarterly revenue of 86 trillion won (approximately $62.4 billion) and an operating profit of 12.1 trillion won (approximately $8.78 billion), its highest in three years and double the previous quarter, buoyed by the rebound in memory prices and AI-related demand, even as the memory giant trails behind in high-bandwidth memory (HBM) production, a key component powering AI servers. TSMC, which commands about 60 percent of the global foundry market and nearly 90 percent of advanced node chip production—covering most of Nvidia’s supply—sits at the center of the AI-driven datacenter expansion. “TSMC’s third-quarter guidance suggests revenue of $32.4 billion and an operating profit margin of 46.5 percent,” said Lee Seung-woo of Eugene Investment & Securities. “Actual growth could exceed forecasts, potentially reaching the mid-30 percent range.” SK hynix, which has overtaken Samsung in the HBM market, shares the glory of the AI upcycle. “SK hynix’s third-quarter operating profit is estimated at 11.6 trillion won, supported by strong DRAM and NAND shipments amid sustained demand for HBM and DDR5,” said Son In-jun, analyst at Heungkuk Securities. The unrelenting appetite for AI chips is pushing up prices across the memory spectrum. According to market tracker ICsmart, Micron has raised DDR4 and DDR5 prices by 20–30 percent, while Samsung increased contract prices for high-capacity DRAMs such as LPDDR4X and LPDDR5/5X by 15–30 percent as AI workloads shift from training to inference and edge devices tighten supply. The AI boom is now spilling over to mid- and downstream chipmakers, who stand to gain from narrowing gaps between contract and spot prices as AI adoption spreads beyond hyperscale data centers. Kim Dong-won, an analyst at KB Securities, projected that Samsung Electronics could post its highest operating profit in eight years next year on improved foundry utilization and stronger profitability in memory operations. Shares of major Asian chipmakers extended gains on Wednesday, buoyed by strong earnings momentum and AI demand. TSMC rose NT$1,400 (about $43) in Taipei, while Samsung Electronics closed at 95,000 won ($69) and SK hynix ended at 422,500 won ($308). 2025-10-15 16:56:26 -
Samsung Electronics to gift stock-tied compensation for employees SEOUL, October 14 (AJP) - Samsung Electronics will grant company shares to employees tied to its stock performance over the next three years, the Korean tech giant announced Tuesday in an internal notice following record quarterly sales in the third quarter. The program, called Performance Stock Units (PSU), is designed to motivate employees by linking long-term compensation to the company’s future performance and share price growth. Unlike the company’s existing annual bonus system based on short-term results, the new scheme rewards employees with stock whose final value depends on multi-year outcomes. Under the plan, Samsung will grant 200 shares to Career Level 1–2 employees and 300 shares to Career Level 3–4 employees this month. The final number of shares to be distributed will be determined after three years based on the degree of stock price appreciation, with payments made in three equal installments starting in 2028. The higher the stock price rise over the three-year period, the greater the compensation employees will receive. The announcement follows Samsung’s best-ever quarterly sales and three-year high operating profit for the July–September period, with shares nearing the symbolic 100,000 won threshold. Shares closed 1.8 percent lower at 91,600 won on Tuesday on profit-taking. 2025-10-14 15:56:01 -
Samsung Elec's record-setting Q3 results signal strongest-yet chip boom SEOUL, October 14 (AJP) - Despite lingering doubts over the durability and scope of the so-called AI-fueled chip supercycle, Samsung Electronics’ record-setting earnings guidance for the third quarter has set a new benchmark for the ongoing semiconductor boom. The South Korean tech giant on Tuesday projected an operating profit of 12.1 trillion won ($9.1 billion) for the July–September period, more than doubling from the previous quarter and marking the strongest quarterly performance since the second quarter of 2022. Revenue also hit a new quarterly high of 86 trillion won, up 15.3 percent on quarter and 8.7 percent on year. The stellar rebound comes after Samsung, for the first time in memory chip history, temporarily ceded its No. 1 position to local rival SK hynix earlier this year amid delays in its transition to high-bandwidth memory (HBM), critical to powering AI chips. Although the company’s contract with AI leader Nvidia has stalled, Samsung has secured new orders from Advanced Micro Devices (AMD) and Tesla, signaling progress in its next-generation AI chip portfolio. While the firm does not release divisional breakdowns in preliminary guidance, industry watchers estimate that the Device Solutions (DS) division — responsible for semiconductors — earned between 5 trillion and 6 trillion won, up sharply from 400 billion won in the second quarter. Investor sentiment remains upbeat that the strong run will extend well into next year. Kim Dong-won, analyst at KB Securities, forecast Samsung’s 2025 operating profit at 53.5 trillion won, the highest since 2018, driven by rising DRAM profitability and higher foundry utilization rates. The optimism is underpinned by firming memory prices. According to DRAMeXchange, the average fixed transaction price for PC DRAM (DDR4 8Gb 1Gx8) in September was $6.30, up 10.5 percent from August and surpassing the $6 mark for the first time since January 2019. The rebound reflects supply cuts in generic DRAM as chipmakers focus on high-performance server memory. The strength extends across the industry. Micron Technology, the U.S.-based DRAM producer, posted an operating profit of $2.2 billion on $9.3 billion in revenue for its latest fiscal quarter. Analysts say memory makers such as Samsung, SK hynix, and Micron are next in line to benefit from the AI-driven surge that has already lifted TSMC and Nvidia. SK hynix, a frontrunner in HBM and AI memory, is expected to post a record 11.6 trillion won in third-quarter operating profit, according to Son In-jun of Heungkuk Securities, citing sustained DRAM and NAND shipments. TrendForce and other research firms forecast that average DRAM contract prices will continue to strengthen into the fourth quarter and next year, supported by resilient AI server demand and tight supply conditions. Samsung shares closed 1.8 percent lower at 91,600 won on Tuesday after hitting an intraday high of 96,000 won, as investors took profits following the earnings announcement. 2025-10-14 15:55:40 -
Samsung Elec estimates best-ever revenue and 3-year high OP for Q3 SEOUL, October 14 (AJP) - Samsung Electronics signaled a strong comeback in the latter half of the year, well beating market expectations with an estimated three-year high operating profit of 12.1 trillion won ($9.1 billion) and record-breaking revenue, fully riding on the chip boom driven by artificial-intelligence engines. Revenue reached a historic quarterly high of 86 trillion won in the three months ended September, up 15 percent from 74.6 trillion won in the previous quarter, according to the earnings guidance released Tuesday by the South Korean tech giant whose businesses range from semiconductors to smartphones and consumer electronics. It marks the first time the company’s quarterly sales have surpassed the 80-trillion-won threshold. Although Samsung does not disclose divisional details in its preliminary figures, market analysts project record-high sales from its Device Solutions division, which includes the memory and foundry businesses. Based on the stronger-than-expected headline numbers, operating profit from the semiconductor segment is estimated to approach 6 trillion won, up from 400 billion won in the second quarter. Shares of Samsung Electronics opened strong, up 2.8 percent at 95,900 won as of 9:10 a.m. Seoul. 2025-10-14 08:20:32 -
Samsung Electronics Q3 profit set to double from last qtr on chip rebound SEOUL, October 13 (AJP) - Samsung Electronics is expected to report third-quarter operating profit of 10.14 trillion won ($7.6 billion), more than doubling from the previous quarter and marking its strongest July–September performance, fueled by a sharp recovery in memory chip prices and progress in landing contracts for AI chips. The South Korean tech giant, due to release preliminary earnings before market open Tuesday, is projected to have logged a 10.4 percent on-year gain in operating profit and more than doubled from 4.68 trillion won in the second quarter, according to market consensus compiled by FnGuide. The estimate has been revised upward by over 20 percent as DRAM prices recovered sharply. The main driver of the turnaround is the Device Solutions division, which encompasses the memory and foundry businesses. Analysts attribute the rebound to a steep rise in DRAM contract prices, higher shipments of HBM chips for AI servers, and improved utilization at fabrication plants. According to TrendForce, prices of mainstream DRAM chips used in servers, smartphones, and PCs surged 172 percent year-on-year in the third quarter. Samsung has been working to narrow the high-bandwidth memory (HBM) gap with SK hynix, which dominates supply to AI chip leader Nvidia. While Samsung has yet to finalize a deal to provide HBM products to Nvidia, its broader memory and foundry momentum has underpinned the earnings recovery. In the previous quarter, SK hynix surpassed its longtime rival with an operating profit of 9.2 trillion won on revenue of 22.2 trillion won, dethroning Samsung for the first time in memory profitability. Despite lagging in HBM, analysts expect strong quarters ahead for Samsung and other chipmakers as global AI and data infrastructure demand remains robust. Morgan Stanley last week raised its price target for Samsung by 14 percent to 111,000 won, citing “improvement in memory prices and AI server demand” as well as Samsung’s “competitiveness in AI-related semiconductors.” Still, some analysts warn that memory prices could face renewed pressure in the fourth quarter as supply expands. Samsung also faces external risks such as potential U.S. tariff hikes on semiconductors, which could push up device costs and dampen global demand. Samsung shares closed at 93,300 won on Monday, nearing the psychologically significant 100,000-won mark for the first time in months ahead of its earnings release. 2025-10-13 17:13:29 -
LG Elec Q3 results beat forecasts, raising fanfare ahead of India stock debut SEOUL, October 13 (AJP) - South Korea’s top consumer goods maker LG Electronics posted stronger-than-expected third-quarter earnings on Monday, driven by record automotive electronics sales, setting the stage for its Indian unit’s stock market debut on a buoyant note. According to its preliminary earnings release on Wednesday, the home appliance and consumer goods giant reported an operating profit of 688.9 billion won ($515 million) for the July–September period, surpassing the market consensus of 605 billion won. Revenue came to 21.88 trillion won, down 1.4 percent from a year earlier but up 5.5 percent from the previous quarter. Operating profit fell 8.4 percent on year, weighed by U.S. tariffs and restructuring costs, yet exceeded forecasts thanks to strong vehicle component sales and stable appliance performance. Shares of LG Electronics rose 2.53 percent to 81,000 won in Seoul trading Monday following the results. The upbeat earnings come as the company’s Indian subsidiary prepares to debut on the Bombay Stock Exchange on Tuesday through a $1.3 billion initial public offering expected to value the unit at up to $8.7 billion. The 71.3 million-share offering was fully subscribed on the first day, drawing anchor investors including sovereign wealth funds from Abu Dhabi, Norway, and Singapore, along with asset managers such as BlackRock. India, with its 1.4 billion population and low household appliance penetration, is viewed as one of LG’s key growth markets. The company operates two factories there and is building a third at Sri City. The vehicle component division was the standout performer, recording its highest quarterly profitability on the back of rising demand for premium infotainment systems as the business pivots from hardware to automotive content platforms. The home appliance division maintained its premium leadership while expanding subscription-based services to offset pricing pressures amid weak global demand. The media and entertainment unit, however, booked one-time costs tied to a voluntary retirement program and higher marketing expenses in a fiercely competitive TV market. LG said increased U.S. tariffs also dented profitability but that it is optimizing production and expanding direct-to-consumer online sales to mitigate the impact. Meanwhile, the HVAC business secured multiple large-scale contracts for AI data center cooling systems across major regions and is accelerating commercialization of liquid cooling technology, viewed as essential for next-generation AI infrastructure. LG Electronics will release detailed divisional results and net income on October 31. 2025-10-13 16:04:54 -
Chuseok Now and Then: Pleasure Weighs Over Tradition in Korea SEOUL, October 02 (AJP) - Highways once jammed with cars crawling toward ancestral hometowns, kitchens filled with the labor of preparing feast tables, and families dressed in hanbok to perform rites of thanksgiving for the harvest—these were the defining images of Chuseok in South Korea. Today, in a depopulating society, the holiday looks very different. Many households skip or shorten the traditional observances, instead choosing leisure and travel. Incheon International Airport expects 2.45 million passengers during this year’s seven-day Chuseok holiday, averaging 223,000 travelers a day. That figure not only surpasses pandemic lows but also exceeds pre-2020 levels, when daily traffic averaged around 180,000 to 200,000 passengers. A survey by Lotte Members’ Lime service found that 47 percent of respondents plan to travel during Chuseok, with 30.5 percent choosing domestic trips and 16.9 percent going abroad. Hotels.com data shows most will travel with family or groups (60 percent), while 35 percent travel as couples and 5 percent solo. Among overseas travelers, Japan remains the top destination at 43.1 percent, followed by Vietnam (13.2 percent) and China (9.6 percent). “Traditional Chuseok and today’s Chuseok are completely different,” said Kim Eun-sook, 55, a Seoul housewife. “In the past, I visited my husband’s family and worked my bones to prepare songpyeon and jeon. These days, we plan a trip a year in advance.” The shift reflects broader changes in household burdens and gender roles. Preparing food for charye—ancestral memorial rites—has historically fallen on women. Families also traveled for seongmyo, visiting ancestral graves. “It’s more comfortable now, with less burden. People may age, families may change, but fewer than 10 percent still perform charye,” Kim noted. Scholars point to westernization and shifting values. “Past traditions have weakened and disappeared, while the meaning of holiday as leisure has become more prominent,” said Lee Byung-hoon, professor emeritus of sociology at Chung-Ang University. For younger generations, Chuseok is more about rest than ritual. “Everyone around me travels during Chuseok. It’s the longest holiday of the year, so people want to rest,” said Kim Jung-yeon, 31, from Gyeonggi Province. Tourism data reflects the cultural pivot. During the 2024 Chuseok holiday, domestic visitors to Jeju Island totaled 235,089, down from 247,519 the year before, while international arrivals climbed sharply to 31,258 from 20,891. Professor Lee predicts the trend will deepen. “Unless families reunite as nuclear or extended families like in the past, traditional holidays will likely evolve into more individualistic or free holidays. In five to ten years, this shift will intensify depending on how family relationships change.” The numbers stand in sharp contrast to the pandemic years. In 2020, Incheon Airport handled just 964 international flights during Chuseok, and 995 in 2021. By 2023, flights had rebounded to 3,699, surpassing 2018’s 3,273. This year’s surge signals that travel demand has fully recovered—and that cultural practices around the centuries-old harvest festival are moving steadily toward leisure and away from obligation. 2025-10-03 09:11:35 -
Samsung Elec's watershed tri-fold display to share APEC spotlight SEOUL, October 01 (AJP) - Samsung Electronics will seize the global stage of the Asia Pacific Economic Cooperation (APEC) summit in South Korea to unveil the world’s first tri-fold smartphone. Tentatively named the Galaxy G Fold, the device features a 9.96-inch infolding display, up to 16 gigabytes of RAM, and as much as 1 terabyte of storage, according to market sources. It runs on Qualcomm’s Snapdragon 8 Elite chipset and comes with a 200-megapixel main camera, alongside telephoto and ultrawide lenses. The battery capacity is estimated at under 5,000 milliamp-hours—smaller than Huawei’s Mate XT launched in September with a 5,600 milliamp-hour cell—as Samsung opted for thinness over size. The phone supports “Split Trio” multitasking, enabling three apps to run simultaneously, and introduces a revamped cover screen mirroring function. Initial shipment is expected at about 50,000 units, with a limited rollout in South Korea and China later this year. Pricing is likely to hover near $3,000, well above current foldables, though Samsung has yet to confirm final details. The debut comes as Samsung’s chip and smartphone leadership faces mounting competition at home and abroad. By aligning its showcase with APEC—where U.S. and Chinese leaders will gather alongside tech executives from Nvidia and OpenAI—Samsung is blending its traditional Galaxy Unpacked strategy with high-level diplomacy. Rivals are also stepping up in the foldables race. Huawei unveiled its second-generation Mate XT last month, while Motorola and Oppo have launched new models this year. Xiaomi is preparing another flip design for release later in 2025. Market reaction so far has been mixed. Enthusiasts on Reddit praised multitasking upgrades but voiced concerns over battery life and the hefty price tag, noting foldables remain a niche compared with mainstream smartphones. 2025-10-01 16:57:36