South Korean food and bakery giant SPC Group has been spared from a fine of 64.7 billion won ($48.6 million) as Seoul’s high court ruled in favor of the company in its lawsuit filed against the nation’s antitrust watchdog. In 2020, the Korea Fair Trade Commission imposed fines, together with a corrective order, alleging that SPC affiliates, including Paris Croissant, SPL, BR Korea, and Shany, unfairly supported SPC Samlip, the group’s only listed firm, to raise its stock price

South Korea posted a new record high in food exports last year, driven by the steadily increasing global interest in Korean culture and strategic initiatives by food companies who have rigorously promoted their products overseas. The total export value of agricultural and food products reached $9 billion by the end of the third week of December, according to the Ministry of Agriculture, Food and Rural Affairs. This marks a 3 percent increase compared to the same period in 2022, setting a new all

South Korean confectionery company SPC Samlip said Thursday that it had signed a partnership with H Mart, the largest Asian supermarket chain in North America, as part of efforts to further increase its global presence. H Mart operates some 120 supermarkets in the US, Canada and the UK. In 2022, it posted 4.3 trillion won ($3.28 billion) in sales. Under the partnership, SPC Samlip will increase its supply of confectionery products to be distributed through H Mart's extensive sales network.

Paris Baguette, South Korean bakery giant SPC Group's flagship bakery chain, announced Thursday that the company has signed a sponsorship deal with French football club Paris Saint-Germain. Of around 30 companies that have partnered with the Paris-based football club, including Nike, Qatar Airways, Coca-Cola and McDonald’s, Paris Baguette is the only Korean brand. Paris Saint-Germain is an internationally popular French football club which is widely known for its superstar, Kylian Mba

Prosecutors conducted a search and seizure of SPC Group Chairman Hur Young-in’s office over allegations that he coerced workers who are part of the group's affiliate company, PB Partners, to withdraw from its labor union, as well as for discriminatory practices, according to officials Monday. On Monday morning, officials from the Seoul Central District Prosecutors’ Office searched offices belonging to Hur and three other executives as well as the company’s servers at SPC G

One chilly autumn afternoon in October, students of Sookmyung Women's University in Seoul poured out onto the streets for lunch. A group found their way into a small bakery by the name of Monday Picnic down an alley, where they treated themselves to yakgwa financier cakes. “I have never really been a fan of yakgwa, but I became curious after it started trending. From yakgwa cookies and financier to ice cream, there are several forms, and they're all pretty good,” said Jo

South Korean bakery giant SPC Group's flagship bakery chain Paris Baguette will make its first inroad into the Middle Eastern and African market as a part of its efforts to tap into the global halal food market worth some $2 trillion in value, said SPC Group, Monday. SPC Group said it signed a memorandum of understanding with a United Arab Emirates-based conglomerate Galadari Brothers Group on Sunday to establish a joint venture by 2024. Galadari Brothers Group currently operates businesses

South Korean bakery giant SPC Group announced Sunday that the number of its overseas Paris Baguette stores has reached 500, with the latest opening in Singapore. The 500th store opened at Terminal 2 of Changi International Airport as part of the bakery chain’s expansion into Asia and the Middle East. “The group will continue its expansion in the US and China, while making a foray into the global halal food market, which has 1.9 billion potential customers representing some 24 percent

South Korean confectionery company SPC Samlip has joined global food trade fair Anuga to promote Korean dessert products, the company said Thursday. Anuga is an annual food trade fair held in Cologne, Germany. This year’s edition will run between Oct. 7-11, featuring around 8,000 companies from 100 countries. During the fair, which will attract over 100,000 visitors, SPC Samlip will introduce its 53 products, ranging from yakgwa (deep-fried honey cookies) to hotteok (sweet pancakes with br

Chey makes visit to construction site to inspect progress, encourage employees Future competitiveness, climate positive, innovation & co-prosperity presented as  new visions and roles for cluster Groundbreaking for first fab in cluster planned for 2025 with completion expected in 2027 SEOUL, South Korea, Sept. 15, 2023 /PRNewswire/ -- SK hynix Inc. (or "the company", www.skhynix.com) said today that SK Group Chairman Chey Tae-won visited the construction si

South Korean bakery giant SPC Group said Wednesday that it is opening nine new Paris Baguette stores in North America this month, seeking a bigger footing in one of the key strategic markets. With the planned nine new openings, SPC will be operating a total of 150 stores in the region. In Canada, SPC will open a Paris Baguette store at the Southpark on Whyte, a residential complex located in Alberta on Friday, while another outlet is set to open in Newmarket, Ontario, next week. In the US, seven

A worker in her 50s who was injured earlier this week while working at a bakery factory in Seongnam, south of Seoul, died at a hospital Thursday, police said. The accident occurred Tuesday at a bread-making facility operated by Shani, a subsidiary of food and beverage conglomerate SPC. The worker became trapped in a dough machine at the bakery factory after a colleague operated the machinery without proper safety confirmation, according to police. She was promptly transported to a hospital in a

A 50-something worker sustained a serious injury while on duty at a bakery factory in Seongnam, south of Seoul, on Tuesday. The accident occurred at 12:41 p.m. at a bread-making factory operated by Shani. The worker became trapped in a dough machine after a colleague operated it without proper safety confirmation, according to police. The injured worker was rushed to a hospital in a state of cardiac arrest, and later began breathing again and regained a heartbeat. The police said they will inves

South Korean food and bakery giant SPC Group said Friday it has joined hands with the city government of New York and the American Chamber of Commerce in Korea to boost the US city’s economy by expanding support for minority groups. A signing ceremony for the memorandum of understanding was held in New York on Wednesday, with Mayor Eric Adams, AmCham Chairman James Kim and Paris Baguette North America Chief Strategy Officer Hur Jin-soo in attendance. Under the agreement, SPC will run a six

South Korean food and bakery giant SPC Group said Thursday that Paris Baguette has opened its first store in Canada. Paris Baguette, the nation’s No. 1 bakery chain, operates some 450 stores in a total of 10 countries around the world, with its latest Canadian opening adding to the list. The latest Canadian store is located on the first floor of the Yonge Sheppard Center in Toronto. “SPC will accelerate its international expansion, targeting the $9 trillion global food market,”