Doubts have been raised over the success of Five Guys in Korea as the U.S. burger brand is facing severe competition with other premium franchises amid soaring wages and the higher cost of ingredients, according to some food and beverage industry officials, Monday.
The Hanwha Foundation of Culture announced the launch of the Youngmin International Artist Residency program on Monday, aimed at discovering promising young artists in Korea and supporting their creative activities. The program will collaborate with three art institutions: the Cite Internationale des Arts in Paris, France; the ECO Residencies in Vienna, Austria; and the Headlands Center for the Arts in San Francisco.
Hanwha Solutions latest plan to spin off its Galleria division has been interpreted by many as part of efforts to hand over control of the group s retail business to Chairman Kim Seung-youn s youngest son Kim Dong-seon, according to domestic securities analysts, Monday. The company announced last Friday that it will list Hanwha Galleria on the benchmark KOSPI market by March next year after spinning off the department store chain operator.