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  • South Koreas Foreign Minister Pledges Continued Efforts for U.S.-North Korea Dialogue
    South Korea's Foreign Minister Pledges Continued Efforts for U.S.-North Korea Dialogue South Korea's Foreign Minister Park Jin stated on September 3 that the government will continue diplomatic efforts to resume dialogue with North Korea. This statement reflects President Lee Jae-myung's commitment to act as a mediator in the ongoing discussions initiated by U.S. President Donald Trump.During a keynote speech at the Seoul Forum 2026 held at the National Diplomatic Academy in Seoul, Park emphasized that securing peace and stability on the Korean Peninsula is one of the government's top priorities.He added, "The government is continuously working to reduce tensions with North Korea and build trust while striving for 'peaceful coexistence' on the Korean Peninsula."Park noted, "Although there has been no positive response from North Korea so far, we remain steadfast in our efforts to resume dialogue."He also mentioned that the government has proactively halted loudspeaker broadcasts toward North Korea and dismantled related equipment, stating that proposing military talks between the two Koreas is part of efforts to reduce accidental clashes.Additionally, Park highlighted the ongoing interest of President Trump in peace on the Korean Peninsula and his willingness to resume dialogue with North Korea, expressing hope for meaningful discussions between the leaders of the U.S. and North Korea.Furthermore, Park reiterated the importance of the strong South Korea-U.S. alliance, stating, "The South Korean government will continue to work closely with the United States."He also mentioned that South Korea is enhancing its defense posture, including the development of nuclear-powered submarines, aiming to create a national security environment where there is no need for conflict. This principle is emphasized by President Lee.Park concluded by stating the intention to strengthen cooperation among South Korea, the U.S., and Japan while also fostering trilateral cooperation with China and Japan to prioritize dialogue and collaboration over confrontation in the region. 2026-09-03 14:04:10
  • Labor Department Launches Investigation into Daewon Industry Fire that Killed Three Workers
    Labor Department Launches Investigation into Daewon Industry Fire that Killed Three Workers The labor authorities have initiated a forced investigation into the fire and explosion at Daewon Industry's factory in Cheonan, South Chungcheong Province, which resulted in the deaths of three workers.On September 3, the Cheonan branch of the Daejeon Regional Employment and Labor Office announced that it is conducting a joint search with the Chungcheongnam-do Police Agency at Daewon Industry's headquarters in Cheonan and its office in Seoul.About 40 personnel, including labor inspectors and police, are involved in the search. Investigators plan to secure computers and mobile phones from relevant parties to determine the cause of the fire and whether the employer adhered to safety regulations.They will particularly focus on whether fire prevention measures and evacuation protocols were properly implemented, as well as the establishment of a safety and health management system.Earlier, at 11:42 a.m. on August 28, a fire and explosion occurred at the Daewon Industry factory in the Dongnam District of Cheonan, resulting in the deaths of three employees. Another worker suffered second-degree burns over their body and was transported to a hospital.The Cheonan branch formed a dedicated investigation team of 15 members on the day of the incident. They will investigate potential violations of the Industrial Safety and Health Act and the Serious Accident Punishment Act based on the materials secured.The Labor Ministry has stated that it will actively utilize forced investigations, including searches and arrests, in cases of major fatal accidents or when minimal safety regulations are not followed, leading to repeated incidents of the same nature.* This article has been translated by AI. 2026-09-03 14:04:10
  • Korean Government Reports Data Breach of 39.54 Million Tving Accounts
    Korean Government Reports Data Breach of 39.54 Million Tving Accounts Personal data from a total of 39.54 million accounts, including active, dormant, and deleted accounts, has been confirmed to have been leaked from the online video service Tving. The actual number of victims is expected to be significantly lower due to many individuals holding multiple accounts, with some having as many as 13.On September 3, the Ministry of Science and ICT announced the findings of a joint public-private investigation into the Tving data breach that occurred in May. The investigation revealed that approximately 39.54 million accounts were compromised, including 22,063,021 active accounts, 8,502,679 dormant accounts that had not been accessed for over a year, 8,868,174 deleted accounts, and 106,823 test accounts.Many individuals were found to hold multiple accounts. Tving's structure allows users to create several accounts through social media logins, with some users having as many as 13 accounts.By account type, there were 7.26 million accounts registered directly with Tving, 8.63 million CJ ONE integrated member accounts, and 22.47 million accounts created through social media logins.The investigation team identified that a total of 20 items were leaked, including user IDs, passwords, CJ ONE integrated IDs, names, mobile phone numbers, email addresses, birth dates, and resident registration numbers, as well as linked information (CI) that can identify individuals.While some mobile phone numbers and email addresses were leaked in an encrypted state, the encryption keys were also compromised, allowing for decryption. Therefore, the investigation team assessed this information as being equivalent to plaintext. Passwords were confirmed to have been leaked in a one-way encrypted state, making them impossible to decrypt.The scope of leaked personal information varied by account characteristics. Of the 19.04 million accounts with CI, 13.24 million remained after removing duplicates. On average, 11.1 items of personal information were leaked from these accounts. In contrast, 20.4 million accounts without CI had an average of 4.6 items leaked.As a result, the actual number of victims is expected to be lower than the total number of leaked accounts. Excluding test accounts and removing duplicates from CI-holding accounts, the total is 33.64 million. However, it remains difficult to ascertain whether individuals with non-CI accounts held multiple accounts, so the exact number of actual victims has not yet been determined. The investigation team stated that the Personal Information Protection Commission will conduct a detailed analysis of the breach scale and announce specific figures in the future.Investigation Reveals Attackers Stole Development Environment Access Keys, Leaking 30.35GB of DataThe investigation team also disclosed the scale of the breach, the attackers' infiltration methods, and how personal data was stolen. It was confirmed that the attackers stole the 'development environment access keys' from Tving developers, allowing them to penetrate both the internal development and operational environments.The attackers extracted development projects in two separate attacks. In the first attack, 14 projects were compromised, while in the second attack, 361 projects accessible through the development environment were leaked. The total size of the leaked projects was 30.35GB, which included source code related to user-customized content recommendations, search algorithms, user management, authentication systems, and payment and paid service operations.Among these, the source code of 43 projects contained 'operational environment access keys' that could penetrate Tving's operational environment. User information stored in the database (DB) was also found to be saved in plaintext without encryption.Using this information, the attackers accessed the DB on May 30 and attempted to leak personal data. At that time, the CPU usage of the DB server surged to 100%, triggering an alert, and Tving blocked the related operations.The following day, the attackers created an internal virtual server using a separate operational environment access key and launched another attack. They transferred 24GB of user information stored in the DB to the virtual server and then exfiltrated it to an external server, deleting the virtual server to cover their tracks. No alerts were triggered during the second attack due to increased server workload.Tving's Overall Security Lapses Revealed, with Only Four Dedicated Security PersonnelThe investigation team concluded that Tving's overall information security system was inadequate, exacerbating the damage. It was confirmed that access keys were exposed directly in the source code or stored in plaintext and shared via internal messaging. All developers were granted access to all development projects, meaning that compromising a single access key allowed access to the entire project. There was also a lack of a real-time detection and response system for abnormal signs, such as CPU load.Tving had discovered a 'hardcoding' vulnerability in access keys during a simulated hacking exercise in 2024 but failed to make improvements. The number of dedicated security personnel was only four, which is insufficient compared to 149 development staff and a total of 265 employees. Records of access to new virtual private network (VPN) equipment were only kept for about six days, and regular security checks, such as antivirus management for work PCs, were inadequate. After recognizing the breach, Tving reported it to the Korea Internet & Security Agency (KISA) about 29 hours later, violating the Information and Communications Network Act, which mandates reporting within 24 hours.The Ministry of Science and ICT has instructed Tving to submit a plan for implementing measures to prevent recurrence based on the investigation results by the end of this month. Tving will implement these measures from October to December, and the ministry will begin monitoring compliance in January. If any deficiencies are found, corrective actions will be mandated under the Information and Communications Network Act.Meanwhile, Tving is expected to announce its official stance along with plans for enhancing information security and customer compensation measures.* This article has been translated by AI. 2026-09-03 14:04:00
  • Government Sets Guidelines on N% Performance Bonuses in Labor Disputes
    Government Sets Guidelines on N% Performance Bonuses in Labor Disputes The South Korean government has established criteria indicating that demands for performance bonuses based on a certain percentage of corporate profits, referred to as 'N% performance bonuses,' are unlikely to be considered a subject of labor disputes. The guidelines also clarify that management decisions regarding the introduction of artificial intelligence (AI), the establishment or relocation of factories, and business sales are not mandatory negotiation topics. However, if specific changes in working conditions, such as layoffs or job reassignments, are anticipated, those matters will be subject to negotiation. On September 3, the Ministry of Employment and Labor announced the 'Guidelines on Labor Disputes Related to Management Performance Bonuses.' This document elaborates on the interpretation of the revised labor union law released in February, specifically addressing whether management performance bonuses and business management decisions fall under labor dispute topics. The ministry explained that as demands for performance bonuses tied to a percentage of operating profits have emerged as key issues in labor negotiations amid significant industrial transformations, including AI, it has created these guidelines to enhance predictability in the field. According to the guidelines, management performance bonuses that pertain to wages, benefits, and other working conditions are generally considered mandatory negotiation subjects. However, demands for performance bonuses linked to corporate profits, such as sales revenue, operating profit, and net income, are deemed unlikely to be subjects of mandatory negotiation or dispute actions. This is because corporate profits involve the interests of third parties, including shareholders, creditors, and the state, and are utilized for various management decisions, such as research and development (R&D), capital investment, and dividends. The ministry believes that requiring a portion of corporate profits to be allocated for performance bonuses could fundamentally restrict a company's operational freedom. Nonetheless, performance bonuses linked to corporate profits can still be negotiated voluntarily between labor and management. It is also possible to negotiate demands for performance bonuses that are not directly tied to corporate profits but are based on a certain percentage or fixed amount of salary or base pay, as well as the criteria, timing, and targets for payment. The guidelines also clarify the criteria for business management decisions. Decisions regarding the establishment of new factories, overseas investments, relocation of production bases, or business sales and acquisitions, as well as the introduction of AI and automation equipment, are not mandatory negotiation subjects. Instead, the determination of whether changes in working conditions resulting from management decisions are subject to negotiation will be based on whether such changes are 'objectively foreseeable' rather than merely possible. If specific plans for layoffs or job reassignments are being developed or confirmed through internal announcements or labor-management council materials, those related working conditions will be subject to negotiation. For example, while opposition to the introduction of AI itself is not a mandatory negotiation subject, if plans for workforce reductions or changes in job duties and working conditions due to AI implementation become concrete, issues such as job reassignment, employment stability measures, adjustments to working hours, and health and safety measures can be negotiated. Similarly, decisions regarding factory relocations or business sales are not negotiation subjects in themselves, but related job reassignments or employment succession and stability measures are. If a union insists on negotiating business management decisions or demands performance bonuses based on a percentage of corporate profits, the labor commission will recommend changes to the demands during the mediation stage. If the union does not comply, those aspects will be subject to administrative guidance on the grounds that they do not constitute labor disputes under the labor union law. In cases where a strike is primarily aimed at non-negotiable issues, the legitimacy of the strike will be assessed according to Supreme Court precedents. The government maintains that even if an employer refuses to negotiate on management decisions or demands for performance bonuses linked to corporate profits, it is unlikely to be viewed as an unfair labor practice. Kim Young-hoon, Minister of Employment and Labor, stated, "While we will fully respect and ensure autonomous negotiations between labor and management, we will consistently interpret and apply the law according to the guidelines to ensure they function as practical norms in the field." * This article has been translated by AI. 2026-09-03 14:04:00
  • One Month After Tax Reform, Apartment Prices Fall in Gangnam and Seocho
    One Month After Tax Reform, Apartment Prices Fall in Gangnam and Seocho Apartment prices in Seoul's Gangnam and Seocho districts have continued to decline for a month following the government's tax reform announcement. Concerns over increased tax burdens on high-end properties have led to a 0.41% drop in Gangnam and a 0.23% decrease in Seocho, while areas like Seongbuk, Jungnang, and Nowon have seen increases of around 0.5%.According to the Korea Real Estate Agency's report on weekly apartment price trends for the fifth week of August, the apartment sales price index in Seoul rose by 0.22% as of August 31, a decrease from the previous week's increase of 0.29%. Nationwide, prices increased by 0.09%, with the metropolitan area rising by 0.17% and provincial areas by 0.01%.While overall prices in Seoul continued to rise, the Gangnam area showed significant weakness. Gangnam saw a 0.41% decline, particularly in major complexes in Apgujeong and Daechi-dong, while Seocho dropped by 0.23%, mainly in large complexes in Banpo and Jamwon-dong. Songpa also experienced a minimal increase of just 0.01%, resulting in a 0.12% decline in the southeastern region, which includes the four districts of Gangnam.Since the government announced the tax reform plan on August 3, apartment prices in Gangnam and Seocho have fallen for four consecutive weeks. At that time, the government proposed raising the basic exemption for comprehensive real estate tax for primary homeowners from 1.2 billion won to 1.4 billion won, while lowering it for non-resident homeowners to 900 million won and increasing the tax burden cap from the current 150% to 200%.However, the day after the survey date, on September 1, the government partially revised the original plan. It decided to maintain the current exemptions of 1.2 billion won and the 150% cap for non-resident homeowners, while keeping the increase for primary homeowners at 1.4 billion won.This data reflects market reactions prior to the confirmation of the revised plan. The Korea Real Estate Agency noted that while some properties in redevelopment areas were sold at lower prices, contracts for smaller apartments and those near subway stations or large complexes were still being signed at higher prices.In mid-range areas of Seoul, significant price increases were observed. The 14 districts in Gangbuk rose by 0.36%. Seongbuk saw a 0.54% increase, particularly in large complexes in Donam and Jeongneung-dong, while Jungnang rose by 0.52%, mainly in key complexes in Shinnae and Junghwa-dong. Nowon increased by 0.50%, and Gangbuk and Gangseo both rose by 0.45%. Gwanak increased by 0.43%, Dongdaemun by 0.42%, and Guro by 0.41%.Among Seoul's 25 districts, 23 experienced price increases, but only Yongsan, Seongdong, and Dongdaemun saw significant rises. Eighteen districts had reduced increases, while Gangnam and Seocho experienced larger declines.Nam Hyuk-woo, a researcher at Woori Bank's real estate research institute, explained, "Due to policy uncertainties and high interest rates, the three districts in Gangnam are experiencing a downturn, while mid-range areas in Seoul and southern Gyeonggi are showing stable price trends."He added, "If buyers looking to move to Gangnam list their existing homes for quick sales, nearby areas may also experience delayed price adjustments. However, since the majority of buyers in mid-range areas are first-time homebuyers, there is a possibility of a decoupling trend continuing."The nationwide apartment rental price index rose by 0.10% from the previous week. The metropolitan area increased by 0.18%, Seoul by 0.21%, and provincial areas by 0.04%.In Seoul, Gangnam saw a 0.13% drop, particularly in Daechi and Apgujeong-dong, while Seocho fell by 0.10%, influenced by the influx of new units in Jamwon and Banpo-dong. In contrast, Seongbuk and Gangbuk rose by 0.38% each, Nowon by 0.37%, and Seongdong and Dobong by 0.32% each.* This article has been translated by AI. 2026-09-03 14:04:00
  • Jung Jeom-sik Calls for Comprehensive Reform of Election Commission
    Jung Jeom-sik Calls for Comprehensive Reform of Election Commission Jung Jeom-sik, the floor leader of the People Power Party, emphasized on September 3 that reforming the Election Commission has become a "constitutional task that can no longer be delayed," calling for a comprehensive overhaul. He criticized the Democratic Party for allegedly exploiting the issue of the Election Commission for the purpose of extending terms.During a party meeting held at the National Assembly, Jung stated, "We will boldly reform the Election Commission within the framework of the current Constitution."Earlier, the People Power Party launched a special committee on June 23 to investigate violations of citizens' voting rights and discuss the "Citizens' Voting Rights Protection Bill" aimed at reforming the Election Commission.Jung accused the Democratic Party of claiming that allowing the Board of Audit and Inspection to audit the Election Commission through a "one-point" constitutional amendment would resolve all issues, asserting that they are subtly misusing the Election Commission problem as a means to extend terms.He also stated, "As long as President Lee Jae-myung's five trials are not resumed, discussions on constitutional amendments are impossible."He particularly stressed that pushing for Election Commission reform is a party position. "All members of the People Power Party are united in their commitment to uncover the truth behind the infringement of citizens' voting rights and to take all possible institutional measures to prevent its recurrence," he said, adding, "I want to make it clear that this is our party's position."However, the adoption of the party position on the Election Commission reform bill did not materialize that day. Choi Soo-jin, the party's chief spokesperson, told reporters after the meeting that they had planned to adopt the bill as a party position, but it did not happen, stating, "Discussions will continue as final arrangements have not yet been made."She further explained that there are 81 legal provisions across various laws that need to be amended during the reform process, indicating that it is a comprehensive undertaking.When asked if there were any criticisms regarding the bill's shortcomings during the meeting, she replied, "Yes, there were," and noted that they would continue to gather opinions through a group chat among lawmakers.* This article has been translated by AI. 2026-09-03 14:00:00
  • Mayor Han Dae-hee: Strengthening Civil Servant Competence is Gunpos Competitive Edge
    Mayor Han Dae-hee: Strengthening Civil Servant Competence is Gunpo's Competitive Edge Mayor Han Dae-hee emphasized on September 3 that "the competence of civil servants in a rapidly changing administrative environment is Gunpo's competitive edge."On this day, Mayor Han stated, "We have established the 'Basic Plan for Training Local Civil Servants in Gunpo City during the 9th Elected Term,' which outlines our approach to nurturing civil servant talent over the next five years."In response to the changing administrative landscape and to enhance the level of administrative services felt by citizens, the city is focusing on strengthening the capabilities of its civil servants.The plan envisions creating "growing Gunpo talent that brings change to citizens' lives" and emphasizes enhancing civil servant capabilities to realize the 9th elected term's slogan of "Fast and Certain Change, Citizen-Centered Gunpo."Mayor Han defined the ideal civil servant as one of four types: a "compassionate talent" who understands citizens, an "executive talent" who drives change, a "professional talent" who prepares for the future, and a "collaborative talent" who solves problems together.Notably, the plan introduces a "tiered training system" that moves away from uniform training for all civil servants, tailoring it to the roles and career stages of different ranks.New and 9th-grade civil servants will focus on organizational adaptation and basic practical skills, while 8th-grade officials will enhance job expertise and work improvement. 7th-grade officials will concentrate on policy planning and problem-solving, 6th-grade officials on leadership and organizational management, and those above 5th grade on strategic thinking and policy decision-making.Mayor Han aims to provide systematic training and growth opportunities for civil servants to equip them with the necessary competencies for their current roles while preparing them for the next career stage.Training will also be strengthened in anticipation of generational changes among managers. Mayor Han noted that approximately 132 retirements are expected over the next five years, with 85% of these being 5th and 6th-grade officials. Therefore, focused "6th-grade Manager Leadership Training" will be implemented for new team leaders and those slated for leadership roles.This training will cover the roles and responsibilities of managers, employee coaching, performance management, intergenerational communication, and conflict management to enhance organizational management and leadership capabilities.Training for new civil servants will shift from an introduction to the organization to practical onboarding education.The curriculum will include understanding public service values and Gunpo's administration, document writing, budgeting, accounting, legal regulations, customer service, organizational culture, and mentoring from senior civil servants to support new employees' adaptation and administrative skills.Additionally, practical AI training for all employees will be expanded to respond to changes in the administrative environment, including the spread of generative AI.Training will include basic understanding and ethics of AI, as well as practical exercises in data search, document creation, data analysis, task automation, policy planning, and idea generation that can be applied to actual administrative work.Training on safe AI usage, including personal information and security, will also be conducted.Citizens have responded positively to the basic plan for civil servant training. One citizen remarked, "As the administrative environment changes rapidly, civil servants must continuously enhance their expertise so that citizens can receive more convenient and prompt administrative services. I have high expectations, especially regarding the emphasis on AI utilization and practical field training."Another citizen expressed, "I hope civil servant training goes beyond mere education and leads to real assistance for citizens in policy and service areas."Mayor Han Dae-hee added, "We will create systematic training and growth opportunities for employees to enhance their expertise and implement change in their respective roles."In the future, Mayor Han plans to detail the annual implementation plan for rank-specific training and self-planned education while continuously monitoring the outcomes of the training.* This article has been translated by AI. 2026-09-03 14:00:00
  • KOSPI Rises Over 1% Amid U.S. Market Recovery; KOSDAQ Shows Slight Decline
    KOSPI Rises Over 1% Amid U.S. Market Recovery; KOSDAQ Shows Slight Decline The KOSPI, which had dropped nearly 4% the previous day, is rebounding by over 1% as the surge in U.S. Treasury yields stabilizes. The index's rise is supported by institutional buying and strong performances from major stocks like Samsung Electronics and SK Hynix, while the KOSDAQ fluctuates around a slight decline.As of 1:39 p.m. on September 3, the KOSPI is up 95.24 points (1.45%) at 6,657.96. It opened at 6,650.33, an increase of 87.61 points (1.33%) from the previous trading day, and has maintained its upward momentum.In the main stock market, individual and foreign investors are net sellers, offloading 1.04 trillion won and 278.8 billion won, respectively. In contrast, institutions are net buyers, purchasing 78.9 billion won, which supports the index's rise.Among the top market capitalization stocks, performances are mixed. Samsung Electronics is trading at 252,000 won, up 0.80%, while SK Hynix is at 1,628,000 won, a 0.93% increase. Other gainers include SK Square (1.22%), LG Energy Solution (4.89%), Hyundai Motor (1.85%), KB Financial (6.39%), and Samsung C&T (2.55%). However, Samsung Electro-Mechanics (-2.00%) and Samsung Biologics (-1.93%) are experiencing declines.At the same time, the KOSDAQ index is down 0.16 points (0.02%) at 803.82. It opened at 814.31, down 10.33 points (1.28%), but has reduced its losses while fluctuating.In the KOSDAQ market, individual investors are net buyers, purchasing 302.2 billion won, while foreign and institutional investors are net sellers, offloading 186.5 billion won and 104.1 billion won, respectively.Among the top KOSDAQ stocks, performances are also mixed. Alteogen (-2.35%), Juseong Engineering (-1.21%), Wonik IPS (-2.10%), and Simtech (-2.76%) are declining, while EcoPro (0.98%), EcoPro BM (0.56%), Rainbow Robotics (1.95%), IOTech (6.72%), Rino Industrial (1.24%), and HLB (0.30%) are rising.* This article has been translated by AI. 2026-09-03 13:56:00
  • Lee Hyung-il Addresses Controversy Over Apartment Ownership Amid Reconstruction
    Lee Hyung-il Addresses Controversy Over Apartment Ownership Amid Reconstruction Lee Hyung-il, the Deputy Prime Minister and Minister of Economy nominee, clarified that he is not residing in his apartment in Gwacheon, Gyeonggi Province, because it is currently undergoing reconstruction.On his way to the Financial Services Commission office in Jung-gu, Seoul, on September 3, Lee addressed the controversy surrounding his apartment ownership and non-residency, stating, "Our firm principle is to establish a housing market centered on actual residence."As the government pushes for a reform of the real estate tax system that differentiates tax burdens for homeowners based on their residency status, concerns have been raised about how Lee's living situation aligns with this policy direction. He explained that his case involves special circumstances due to the ongoing reconstruction.According to public asset declarations, Lee and his spouse jointly own the apartment in Gwacheon, which reportedly began its reconstruction relocation process in 2025.However, it is noted that Lee has been living in a different house on a lease since 2021, raising questions about the timeline of his residency and the purchase of the apartment, which may become points of contention during the confirmation hearing.Regarding the timing and circumstances of the apartment purchase, Lee stated, "I bought it quite a while ago, and I will provide detailed answers during the hearing."On the topic of real estate tax reform, he emphasized that the government's revised proposal was developed in consultation with the ruling party.Lee commented on the Democratic Party's proposal to delay the abolition of the long-term holding special deduction and to increase the basic deduction for non-resident homeowners to 140 million won, saying, "The revised proposal that passed the Cabinet meeting was prepared through discussions incorporating the supplementary ideas presented by the Democratic Party."He added, "We will continue to communicate and collaborate moving forward," leaving the door open for further discussions between the government and the ruling party.* This article has been translated by AI. 2026-09-03 13:52:20
  • Twosome Place to Open First U.S. Store in Alexandria, Virginia, This October
    Twosome Place to Open First U.S. Store in Alexandria, Virginia, This October Twosome Place will open its first store in Alexandria, Virginia, this October as part of its strategy to enter the U.S. market. The company aims to compete with local brands in the mainstream café sector by promoting its pairing culture of coffee and desserts, which has been validated in South Korea.On September 3, Twosome Place held a press conference at the Conrad Seoul in Yeouido, where CEO Moon Young-joo and Vice President Kim Shin-young outlined the company's global business strategy, including the rationale for entering the U.S. market, its competitive approach, and future plans.The first U.S. location will be situated in Old Town Alexandria, a premium commercial area adjacent to the Potomac River, known for its concentration of high-end fashion and food and beverage brands. Twosome plans to use Alexandria as a base to expand into the D.C. and Maryland areas, known as the 'DMV' region, before moving into major cities like New York, New Jersey, Pennsylvania, Boston, and Atlanta. The company is also considering expansion into other global markets, including Japan.Twosome aims to directly compete with local café brands, including Starbucks, and establish itself as a brand that appeals to a broader audience beyond just the Korean community.The decision to enter the U.S. market comes as Twosome recognizes the limitations of growth focused solely on domestic expansion. With approximately 1,750 stores in South Korea, further openings have become challenging due to franchisee protection issues. As a result, the company is concentrating on same-store sales growth domestically while seeking new growth opportunities abroad. In fact, Twosome's same-store sales growth rate has increased from 0.3% in 2023 to 6.9% in 2024, and 7% last year.Vice President Kim Shin-young stated, "The U.S. is the largest market, and we believe that success here will provide strong momentum for future expansions into other regions. While there are many cafés in the U.S., we are confident that our pairing culture can compete effectively."One of Twosome's key offerings will be its 'Korean-style cake.' Unlike American cakes, which are rich and sweet, Twosome's cakes feature lighter flavors using whipped cream, mousse, and fresh fruit. The company has received positive feedback from local consumers during taste tests, noting that the Korean-style cakes are perceived as "healthier and more sophisticated."The menu will include signature items such as 'Schoosang' (Strawberry Chocolate Cream Cake), along with options like icebox cake, red velvet, and tiramisu. The company plans to adjust flavors and sizes to cater to local tastes, offering larger versions of Schoosang to meet the preferences of American consumers.Additionally, Twosome will introduce local-exclusive menu items that incorporate Korean elements, such as 'Seoul Blend' coffee developed in collaboration with local roasteries, as well as dishes featuring dalgona, black sesame, injeolmi, misugaru, and plum, alongside deli items like bulgogi bibimbap.The first U.S. store will also feature operational changes. Recognizing that local café sales peak in the early morning and that 'all-day cafés' are on the rise, Twosome will adjust its opening hours. The entrance will showcase a cake display, and the interior will feature lighting reminiscent of traditional Korean rafters and octagonal tables.Prices will be set 10-20% higher than in South Korea, reflecting local labor and ingredient costs. This pricing is expected to be slightly above that of local Starbucks, aligning with the price range of premium all-day cafés that are currently growing in the U.S.Twosome has been testing products with local consumers and establishing supply chains and logistics since deciding to enter the U.S. market about two years ago. The store design for international markets has also been validated domestically, with the 'Gangnam 2.0' store near Sinnonhyeon Station serving as a prototype to assess operational processes.Initially, all U.S. locations will be operated directly through a local subsidiary, with plans for more than 15 stores. Opening a single store in the U.S. is expected to require an investment of approximately 1.5 to 2 billion won, indicating a significant financial commitment. Once the direct operations stabilize and profitability is achieved, the company will consider expanding through franchising.CEO Moon Young-joo emphasized, "It is not easy for a new brand to succeed in a new market. Initially, it is crucial to operate directly to firmly establish the brand in the U.S. market. Our first task is to ensure we have sufficient resources and investment to make Twosome a major brand in the U.S." 2026-09-03 13:52:00