Journalist

Kim Hyun-ahh
  • South Korea Chicken Market Shifts to bhc Lead as BBQ, Kyochon Battle for No. 2
    South Korea Chicken Market Shifts to bhc Lead as BBQ, Kyochon Battle for No. 2 South Korea’s chicken franchise market is increasingly taking on a “one leader, two challengers” structure centered on bhc. With bhc pulling further ahead on sales, BBQ and Kyochon Chicken are locked in a close fight for second place. As of April 23, industry officials said Dining Brands Group, which operates bhc, posted 614.7 billion won in standalone sales last year, becoming the first in the sector to surpass 600 billion won in annual revenue. Sales rose 19.9% from 512.7 billion won a year earlier, while operating profit increased 23% to 164.5 billion won. The company’s momentum has been driven by successful new menu items. “Quasak King,” launched last year, topped 7 million in cumulative sales in about a year, matching the popularity of its signature “Bburinkle.” “Sweet Chili King” also exceeded 1 million units within three months of launch. bhc also benefited from maintaining a stable supply system for fresh and cut chicken despite external supply uncertainty, supporting franchisee profitability. BBQ, which had long competed with bhc for the top spot, saw growth slow and the gap widen again. In 2024, BBQ narrowed the sales gap to 6.6 billion won and aimed to reclaim No. 1, but last year its sales rose just 4.3% to 527.8 billion won. Operating profit fell 19.4% to 69.0 billion won. The sales gap with bhc expanded to about 86.9 billion won. BBQ said the results reflected upfront spending tied to its 30th anniversary marketing, overseas expansion and logistics infrastructure. BBQ now operates about 700 stores in 57 countries, including the United States, and is focusing on strengthening its competitiveness abroad. Kyochon Chicken, in third place, rebounded and closed in on BBQ. Kyochon F&B posted 517.4 billion won in sales last year, up 7.6% from a year earlier, returning to the 500 billion won range for the first time in three years. Operating profit jumped 126.2% to 34.9 billion won. The sales gap with second-place BBQ narrowed to about 10.4 billion won from 22.4 billion won in 2024. Kyochon attributed the improvement to new products such as Mala Red, growth in subscribers to its app, and stronger demand tied to rising interest in professional sports. Industry watchers said the key storyline this year is likely to be the battle between BBQ and Kyochon for No. 2, rather than a fight for the top spot. Each company is refining its strategy. bhc is maintaining a plan to launch two new products a year, introduced “Soy Garlic King” in March, and is focusing on efficiency by deploying its automated frying robot, “T-bot.” BBQ is emphasizing “execution and results,” pursuing AI-centered management innovation and strengthening its global strategy with the United States, Europe and China as key hubs. Kyochon plans to bolster growth by developing new menu items and expanding new businesses such as sauces and craft beer. An industry official said, “With uncertainties growing at home and abroad — including rising raw material prices and intensifying competition in the delivery market — marketing and new-product competition is likely to become even fiercer.”* This article has been translated by AI. 2026-04-23 17:28:24
  • Pulmuone Opens Hands-On Cooking School; BBQ Expands in Thailand; GS25 Meal Sales Hit 100M; Beef Fund Backs Farm Solar
    Pulmuone Opens Hands-On Cooking School; BBQ Expands in Thailand; GS25 Meal Sales Hit 100M; Beef Fund Backs Farm Solar Pulmuone opens hands-on cooking school ‘Tasty Pulmuone’ Pulmuone said April 23 it has opened a cooking school, ‘Tasty Pulmuone,’ at its headquarters in Suseo, Seoul, and has begun full operations. The opening ceremony was held the previous day with board chair Lee Hyoyul and chief executive Lee Woobong among attendees. The program is designed as a hands-on platform where consumers cook for themselves while learning meal planning that considers health and the environment. It is built around Pulmuone’s “211” approach, emphasizing vegetables, whole grains and low-saturated-fat protein. The curriculum has four tracks: vegetable-forward meals, using whole grains, cooking low-saturated-fat proteins, and practicing flexible vegetarian eating. Classes run as a two-day format, two hours per day, with eight participants per session, held twice a month. Enrollment is first-come, first-served through the official website. Sample dishes include a fresh dandelion-and-soybean salad, herb chicken breast with sweet pumpkin, glutinous brown rice vegetable sushi, and kale wraps with thick soybean paste. Pulmuone said the menu uses simple one-bowl and one-dish cooking to make it easier to apply at home. Pulmuone said it plans to expand participation to vulnerable groups, foreigners and food professionals, and to build a community to promote sustainable eating. Graduates will receive recipe cards and certificates. “‘Tasty Pulmuone’ was designed as a place where consumers can naturally learn sustainable eating by cooking and tasting for themselves,” said Yoon Myung-rang, head of global marketing at Pulmuone Foods. “We will expand everyday practice through a range of education programs.” BBQ signs Thailand master franchise deal, steps up Southeast Asia push Genesis BBQ said April 23 it has signed a master franchise agreement with a local company in Thailand, moving to scale up its business there and use the country as a base to expand across Southeast Asia. Its partner, Genesis BBQ (Thailand) Co., Ltd., is a corporation established by a company that has operated food-and-beverage and social overhead capital businesses based in Shanghai, China, BBQ said. The partner has experience running casual dining restaurants in Thailand and is seen as having a strong grasp of local commercial districts and consumer trends. Thailand, with a population of about 71 million and strong tourism demand, is viewed as a key Southeast Asian market, BBQ said. The company also cited local preferences for spicy flavors, fried foods and sauce-based dishes as factors supporting demand for chicken and other Korean food items. BBQ said it plans to open casual-dining flagship stores in major commercial areas in Bangkok, Chiang Mai, Phuket and Pattaya, including in large shopping complexes such as Siam Paragon and CentralWorld, and then expand franchising in stages. A BBQ official said the company plans to establish a foothold in Thailand and then expand into neighboring countries including Myanmar, Laos and Cambodia. GS25 ‘Hyeja’ ready meals top 100 million sold in three years since relaunch GS Retail said April 23 that cumulative sales of its GS25 private-label ready-to-eat line ‘Hyeja’ have surpassed 100 million units in the three years since the brand’s relaunch, as demand grows for budget-friendly meals amid high prices. Including sales since the brand’s first launch in 2010, cumulative volume totals 530 million units, the company said. The ‘Hyeja’ line is a private-brand convenience food range developed with actor Kim Hye-ja and marketed under the concept of “mom’s home cooking.” GS Retail said it has been credited with helping position convenience-store meals as a regular meal option by emphasizing reasonable prices and consistent quality. As dining-out costs rose and “lunchflation” intensified, consumers called for the brand’s return, GS Retail said. GS25 brought it back in February 2023 and said it overhauled ingredients and manufacturing processes to improve quality. The company said expanding beyond lunch boxes into salads and bread also supported growth. A 1,500-won ‘Hyeja’ dessert introduced in March sold 1 million units in a month, it said. “We earned customer trust through reasonable prices and steady quality improvements,” said Park Jong-seo, a GS Retail FF team manager. “We will further strengthen our position as a ‘national ready-meal’ brand by developing products that match changing food culture.” Korean beef fund, Solarwalk partner to expand solar power at livestock farms The Korean Beef Fund Management Committee said it is partnering with solar power company Solarwalk to help livestock farms adopt renewable energy, aiming to ease rising energy costs and support carbon-neutral efforts. The committee said April 23 it signed a business agreement with Solarwalk to expand the use of eco-friendly energy. The signing ceremony was held at Solarwalk’s headquarters in Gyeongsan, North Gyeongsang Province, with committee chair Cho Jae-sung and Solarwalk CEO Hong Hyun-jin attending. The agreement is intended to support Korean beef farms facing difficulties from higher energy prices and the climate crisis, and to build a production base aligned with carbon neutrality, the committee said. The two sides agreed to cooperate on improving energy efficiency and reducing operating costs through solar installations. Planned cooperation includes supporting the introduction and expansion of solar facilities at farms, jointly pursuing ways to cut energy costs, identifying projects tied to environmentally friendly livestock operations, and providing education and consulting. The committee said it will encourage participation nationwide and handle administrative support. Solarwalk will be responsible for installation and technical support and will provide tailored energy-saving solutions by farm. The company also plans maintenance and follow-up support after installation to ensure stable operations. “We expect this will provide practical help to farms facing heavier energy cost burdens,” Cho said. “I hope this agreement becomes a turning point for an environmentally friendly transition in the Korean beef industry.” * This article has been translated by AI. 2026-04-23 16:37:16
  • McDonald’s Korea Doubles Happy Meal Donations for Family Month Campaign
    McDonald’s Korea Doubles Happy Meal Donations for Family Month Campaign McDonald’s Korea is expanding donations linked to its children’s Happy Meal menu item to mark Family Month. The company said Wednesday it will double the amount set aside from Happy Meal sales for about a month, from April 30 through the end of May. The donation per set will rise to 100 won from 50 won. During the campaign, the company will provide donation certificates and stickers to help children better understand and take part in the giving process. On May 24, McDonald’s Korea will hold its walking fundraiser, the “2026 McDonald’s Happy Walk.” This year, it will expand participation to 6,000 people from about 5,000 previously. “Happy Meal is a meaningful menu item that lets customers join in giving simply by making a purchase,” a McDonald’s Korea official said. The official added that the company will continue to increase everyday opportunities for families to share and give through programs such as the Family Campaign and Happy Walk. McDonald’s Korea said it is RMHC Korea’s largest sponsor and has continued support efforts for sick children and their families.* This article has been translated by AI. 2026-04-23 14:27:57
  • Seoul Milk boosts eco-friendly packaging for Earth Day; Paris Baguette, Compose Coffee and Ildong Foodis updates
    Seoul Milk boosts eco-friendly packaging for Earth Day; Paris Baguette, Compose Coffee and Ildong Foodis updates Seoul Milk Cooperative steps up eco-friendly packaging for Earth Day Seoul Milk Cooperative said April 22 it is strengthening ESG management centered on environmentally friendly practices to mark Earth Day. The cooperative set up an ESG committee in 2021, the first in the dairy industry, and has expanded efforts from workplace changes—cutting single-use items, adopting recycled-paper business cards and switching to eco-friendly office supplies—to packaging innovation. On products, it has focused on packaging designed for recycling. It applied recycled material (r-PET) containers to its 700-milliliter organic milk and introduced label-free packaging for its spoonable yogurt brand Yohaim. It is also using paper straws, removing cap stickers and expanding water-separable labels. Last year, it introduced what it called the country’s first eco-friendly aseptic carton without aluminum. By removing the aluminum layer from the previous paper-polymer-aluminum structure, the cooperative said it improved recycling efficiency. It applied the carton to its organic aseptic milk and is seeking to expand its use. Seoul Milk said it received a minister’s commendation last year in the resource-circulation category from the Ministry of Climate, Energy and Environment, citing measurable results since 2021, including packaging redesign and building recycling systems. It also said it is strengthening low-carbon production, operating 107 farms certified for low-carbon livestock products, while sales of its low-carbon certified milk are rising. “ESG activities centered on eco-friendliness are leading to tangible results,” cooperative Chairman Moon Jin-seop said. “We will strengthen resource-circulation systems across the entire production and distribution process.” Paris Baguette launches cakes in the low 20,000-won range, expands value desserts With high prices persisting, Paris Baguette is expanding its value dessert lineup with cakes priced in the low 20,000-won range. The bakery chain said April 22 it has launched two new cakes priced in the low 20,000-won range to reduce the burden of everyday spending. The Cheese Souffle Cake layers a soft souffle cheese topping with white cake and cheese cream. The Ttitra Earl Grey Cake uses Earl Grey from premium blended tea brand Ttitra, and adds peach pieces for a brighter flavor. Paris Baguette also sells other cakes in the same price range, including Tiramisu Cake and Strawberry Blossom Cake. “We are expanding our value cake series that customers can enjoy casually in everyday life,” a company official said. “We will continue to broaden choices with products across a range of prices and concepts.” Compose Coffee to release “Coffee Hanmogom” keyring sets to extend new-menu momentum Compose Coffee said April 22 it will offer “Coffee Hanmogom” keyring sets featuring a bear character from its brand film to mark the launch of its new “All Day Compose” menu line. The chain said new items, including the Vanilla Cream Latte, topped 350,000 cups sold within a week of release. It said the Vanilla Cream Latte has drawn interest as a reasonably priced menu item, highlighting rich vanilla cream and dark-chocolate flavor. The keyring sets were planned on the back of the new menu’s popularity. Each set pairs a coffee drink with a “Coffee Hanmogom” keyring. The character name combines the Korean phrase for “a sip of coffee” with “teddy bear,” reflecting the tone of the brand film. The sets come in five versions: Vanilla Cream Latte, Nutty Cream Latte, Pineapple Coffee, Better Than Einspanner and All Day Oat. The company said the lineup is designed to reflect different preferences, including decaf, fruit and cream-based options. A Compose Coffee official said the sets are intended to offer a brand experience “from morning to evening, anytime and anywhere.” Ildong Foodis Hi-Mune sponsors disability sports event with Paralympians ​​​​​​​ ​​​​​​​Ildong Foodis said April 22 it sponsored the “Disability Sports With Paralympians” event with its Hi-Mune Protein Balance Active drink. The event was held April 18 at Seoul World Cup Stadium with FC Seoul, featuring participatory sports programs bringing together people with and without disabilities. On site, a “Dream Paralympics” program offered hands-on experiences in disability sports such as wheelchair basketball and blind football. Medalists from the 2026 Milan-Cortina Winter Paralympics also attended and met with the public. During a K League match that day, Nordic skier Kim Yoon-ji served as match-ball presenter, and snowboarder Lee Je-hyeok took part in the ceremonial kickoff. Ildong Foodis provided Hi-Mune Active to participants to support energy and nutrition during exercise. The company said the high-protein drink contains 20 grams of protein per pack and uses MPC (milk protein concentrate) and goat milk protein. An Ildong Foodis official said the sponsorship was arranged to help promote disability sports around the Day of Persons with Disabilities, adding that Hi-Mune would “be there wherever protein is needed.” Hi-Mune has continued marketing activities across sports including soccer, running and golf, the company said. * This article has been translated by AI. 2026-04-22 18:03:15
  • Vietnam Emerges as a ‘Second Home Market’ for South Korean Food Companies
    Vietnam Emerges as a ‘Second Home Market’ for South Korean Food Companies South Korean food companies are stepping up investment in Vietnam, a country of about 100 million people, treating it as a “second home market” by expanding local production and tailoring products for Vietnamese consumers. Backed by annual growth in the 6% range and a large young consumer base, the companies aim to strengthen their foothold while using Vietnam as an export base. Industry officials said April 22 that major South Korean food makers have expanded in Vietnam since the late 1990s, drawn by its growth potential. Vietnam’s 2025 economic growth rate was provisionally estimated at about 8.02%, and per capita GDP was about $5,026, placing it in the upper-middle-income category. With the middle class projected to reach 75% of the population by 2030, companies are shifting from simple exports to strategies centered on local manufacturing to gain market share. Daesang, which established a local unit in 1994, is accelerating a shift from bio and starch sweeteners into a broader food business. In 2016, it entered Vietnam’s meat-processing market by acquiring local company Duc Viet Food, the first such move by a South Korean food company. Daesang has since expanded its base, maintaining the top market share in Vietnam’s seaweed products and strengthening its K-food lineup, including tteokbokki and kimchi seasoning. Daesang’s Vietnam sales totaled 235.9 billion won last year, nearly double the 2018 level. It recently invested 30 billion won to expand its Hai Duong and Hung Yen plants, boosting capacity. Orion, which set up its Vietnam unit in 2005, has focused on localization for nearly 20 years. Using marketing tied to the local concept of “Tinh,” and products tailored to local tastes — including “Bong Bang,” inspired by traditional folktales, and the rice snack “An” — Orion posted 514.5 billion won in sales in 2024, topping 500 billion won for the first time. Orion has designated Vietnam as a key market in its “post-China” strategy and is investing a total of 130 billion won. It plans to expand its Yen Phong plant in Hanoi and build a third factory scheduled for 2026, lifting local production capacity to the equivalent of 900 billion won. Ramen makers are also intensifying their push. Vietnam leads the world in per capita instant noodle consumption, at 81 servings in 2024. Paldo completed a second factory in Tay Ninh province in southern Vietnam in 2024, building a system that can produce 700 million ramen units a year across its two plants. Paldo plans to keep expanding the second plant and use Vietnam as a production and export hub and a springboard into other Southeast Asian markets. Ottogi operates two manufacturing plants, in Binh Duong near Ho Chi Minh City and in Bac Ninh in the north. It has sustained average annual growth of more than 18% over the past five years and posted 89 billion won in sales last year. The company produces about 770 items, including “Mini Jin Ramen” and “Oppa Ramen,” reflecting local eating habits. It has also obtained halal certification and is moving to expand exports to Muslim markets. In alcoholic beverages, HiteJinro is making a major bet. Vietnam was HiteJinro’s first export market for soju, and about 60% of soju exported from South Korea to Vietnam is HiteJinro products. The company is building its first overseas production plant in Thai Binh province, targeting completion this year. Designed as a smart factory and covering an area about 11 soccer fields, the plant is expected to produce up to 5 million cases of soju a year. HiteJinro aims to improve logistics efficiency and cost competitiveness through local production and extend Jinro’s dominance — the top-selling distilled spirit brand in Vietnam — across Southeast Asia. “Vietnam has cultural similarities with Korea and a solid base of food consumption, so barriers to entry are relatively low,” an industry official said. “Securing cost competitiveness through local production and close-to-market marketing is raising Vietnam’s value as a forward base for global expansion.” 2026-04-22 16:16:01
  • Nongshim teams with Jeonju film festival for Shin Ramyun’s 40th anniversary
    Nongshim teams with Jeonju film festival for Shin Ramyun’s 40th anniversary Nongshim is marking the 40th anniversary of its Shin Ramyun brand with a partnership with the Jeonju International Film Festival, aiming to link Korean food and culture. Nongshim said April 22 that it signed an agreement a day earlier at its headquarters in Seoul’s Dongjak district with the festival’s organizing committee for special screenings tied to the anniversary. Under the deal, the company participated in producing two short films featuring Shin Ramyun that will be shown during the festival. The films are director Oh Se-yeon’s “Before the Noodles Bloom” and director Kim Tae-yeop’s “When the Ramen Runs Out.” They portray Shin Ramyun as a familiar presence known for an unchanged taste over time. The shorts will be screened three times: May 2 and 3 at CGV Jeonju Gosa, and May 5 at Megabox Jeonju Gaeksa. A “Shin Ramyun Studio” pop-up store will also open on Jeonju’s Film Street, offering a hands-on program where visitors can mix noodles, seasoning and toppings to make their own ramen. It will run from the festival’s opening day, April 29, through May 5. Nongshim, which is sponsoring the festival for a third year, will also present the “Nongshim Shin Ramyun Award” for new directors in the Korean Competition section for a second consecutive year. “We want to connect with audiences through the art of film as we mark Shin Ramyun’s 40th anniversary,” a Nongshim official said. “We will continue cultural and arts collaborations to help promote the competitiveness of Korean culture.” The 27th Jeonju International Film Festival will be held from April 29 to May 8 around Jeonju’s Film Street.* This article has been translated by AI. 2026-04-22 14:35:02
  • Lee Jae-myung Arrives in Hanoi Ahead of South Korea-Vietnam Summit; Trump, Iran and Volkswagen Updates
    Lee Jae-myung Arrives in Hanoi Ahead of South Korea-Vietnam Summit; Trump, Iran and Volkswagen Updates President Lee arrives in Hanoi; South Korea-Vietnam summit set for April 22 President Lee Jae-myung arrived in Hanoi on April 21 local time, beginning a state visit to Vietnam after completing a state visit to India. The presidential aircraft carrying Lee and first lady Kim Hye-kyung landed at Noi Bai International Airport that afternoon. Lee is scheduled to hold a luncheon meeting with South Korean residents on April 22, then meet with To Lam, Vietnam’s Communist Party general secretary and state president. The schedule also includes an exchange of memorandums of understanding, a joint press statement and a state banquet. On April 23, Lee is to meet Prime Minister Le Minh Hung and National Assembly Chairman Tran Thanh Man, and attend a South Korea-Vietnam business forum to discuss ways to expand economic cooperation. On the final day, April 24, Lee is scheduled to tour the Thang Long Imperial Citadel in Hanoi with To Lam.Trump says Iran violated cease-fire repeatedly ahead of second talks U.S. President Donald Trump accused Iran of repeatedly violating a cease-fire as a second round of cease-fire talks approached. In a post on his social media platform Truth Social on April 21 local time, Trump wrote, “Iran has violated the cease-fire multiple times!” He did not provide evidence for the claim or outline any follow-up steps in response. The United States and Iran have agreed to a two-week cease-fire through April 22, but tensions have continued in the Strait of Hormuz.Volkswagen CEO says group weighing up to 1 million more in capacity cuts Volkswagen Group is considering reducing annual production capacity to about 9 million vehicles, CEO Oliver Blume said. In an interview with German business outlet Manager Magazin published April 21 local time, Blume said it would be difficult to sustain excess capacity over the long term and that the company is reviewing additional cuts of up to 1 million vehicles to reflect market conditions. Volkswagen’s capacity was about 12 million vehicles in 2019, before the pandemic, but it has since reduced capacity by roughly 1 million each in China and Europe. If the plan is carried out, total capacity would be down about 25% from 2019 levels. Sales have also declined. Global deliveries fell from 10.97 million vehicles in 2019 to about 8.98 million last year. Blume said the market environment has changed completely since the pandemic and that around 9 million vehicles is becoming the new baseline.Iran military says tanker entered its waters despite U.S. maritime blockade Iran’s military said April 21 local time that an Iranian oil tanker entered the country’s territorial waters after breaking through a U.S. maritime blockade. In a statement, the military’s public relations office said the tanker Silicity, with operational support from Iran’s navy, passed through the Arabian Sea overnight and entered Iranian waters. It claimed the U.S. Navy issued repeated warnings and threats, but that the tanker reached Iranian waters under what it called full security support and docked at a southern port. There was no immediate official response from the U.S. military. The U.S. military has stepped up maritime control operations in response to what it describes as Iranian moves to block the Strait of Hormuz. U.S. Central Command has said it has been intercepting vessels traveling to and from Iranian ports in the Gulf of Oman since April 13 and had blocked 27 Iran-related vessels through April 20.* This article has been translated by AI. 2026-04-21 21:51:20
  • Trump claims Iran violated cease-fire repeatedly ahead of second round of talks
    Trump claims Iran violated cease-fire repeatedly ahead of second round of talks President Donald Trump stepped up pressure on Iran ahead of a second round of peace talks, claiming Tehran has violated the cease-fire multiple times. In a post Monday on his social media platform, Truth Social, Trump wrote, “Iran has violated the cease-fire many times!” He did not provide evidence for the claim or outline any follow-up steps in response to the alleged violations. The United States and Iran have agreed to a two-week cease-fire through April 22, but tensions have continued in the Strait of Hormuz. The United States has moved to blockade shipping to pressure Iran’s economy, controlling vessels traveling to and from Iran and seizing one cargo ship in the process. Iran temporarily opened the Strait of Hormuz during the cease-fire before resuming controls, and it carried out attacks including on an Indian-flagged oil tanker. The two sides are expected to try a second round of peace talks April 22 in Islamabad, Pakistan. A U.S. delegation led by Vice President J.D. Vance is set to head to Pakistan that morning, and Iran is also expected to send a negotiating team led by Parliament Speaker Mohammad Bagher Ghalibaf.* This article has been translated by AI. 2026-04-21 21:27:16
  • South Korea’s President Lee Jae-myung Arrives in Hanoi Ahead of Summit With Vietnam’s To Lam
    South Korea’s President Lee Jae-myung Arrives in Hanoi Ahead of Summit With Vietnam’s To Lam After wrapping up a state visit to India, South Korean President Lee Jae-myung arrived in Hanoi on April 21 (local time) to begin a state visit to Vietnam. The presidential aircraft carrying Lee and first lady Kim Hye-kyung landed at Noi Bai International Airport that afternoon. Lee is scheduled to hold a luncheon meeting with South Koreans living in Vietnam on April 22, then meet with To Lam, Vietnam’s Communist Party general secretary and state president, for summit talks. The schedule also includes an exchange of memorandums of understanding, a joint press statement and a state banquet. On April 23, Lee is to meet Prime Minister Le Minh Hung and National Assembly Chairman Tran Thanh Man, then attend a Korea-Vietnam business forum to discuss ways to expand economic cooperation. On the final day, April 24, Lee and To Lam are set to tour the Imperial Citadel of Thang Long, a major cultural heritage site in Hanoi, as part of a friendship program. National Security Office Director Wi Sung-lac said in a pre-visit briefing that To Lam visited South Korea last year as the first state guest of Lee’s presidency, and that Lee is the first foreign leader to make a state visit since Vietnam’s new leadership took office. Wi said the visit aims to strengthen mutually beneficial, strategic cooperation in key areas of national development, including nuclear power, and to bolster cooperation on stabilizing energy supply chains and securing critical minerals.* This article has been translated by AI. 2026-04-21 20:51:16
  • Volkswagen CEO Says Group Weighs Cutting Annual Production Capacity by Up to 1 Million More
    Volkswagen CEO Says Group Weighs Cutting Annual Production Capacity by Up to 1 Million More Volkswagen Group is considering cutting its annual production capacity to about 9 million vehicles. Chief Executive Officer Oliver Blume said in an interview with German business outlet Manager Magazin on April 21 (local time) that “it is difficult to maintain excess capacity over the long term,” adding that the company is reviewing an additional reduction of up to 1 million vehicles to reflect market conditions. Volkswagen’s capacity was about 12 million vehicles in 2019, before the pandemic. Since then, it has scaled back by roughly 1 million vehicles each in China and Europe. If the latest plan is carried out, total capacity would be down about 25% from 2019. Sales have also weakened. Global deliveries fell from 10.97 million vehicles in 2019 to about 8.98 million last year. Blume said the market environment has “completely changed” since the pandemic and that around 9 million vehicles is becoming the new baseline. How the cuts would be implemented has not been decided. Blume said there are “various options” beyond plant closures, but added that the company is reviewing “every cost item,” leaving open the possibility of further job cuts. Volkswagen is already pursuing a major restructuring in Germany, including halting production at two of its 10 domestic plants and planning to cut up to 50,000 jobs by 2030. Some sites are being repurposed. The Dresden plant, which stopped production in December, is to be used for artificial intelligence and robotics research. At the Osnabrueck plant, a possible acquisition by a defense contractor and others is under review. Lower Saxony’s state government, Volkswagen’s second-largest shareholder, has also recently proposed joint production with a Chinese company as one option for using the facilities.* This article has been translated by AI. 2026-04-21 20:30:11