Chicken franchise BBQ expanding to 34 nations

May 26, 2007

Genesis, a Korean franchise group that owns the fried chicken delivery chain BBQ, is expanding to Latin America, China and the Middle East.BBQ mainly delivers various types of fried, barbecued and smoked chicken.Genesis signed a master franchise contract with Luxury Food, a company that is part of the Bren Group in Equador, the company said yesterday. A master franchise contract means the headquarters provides business expertise to a local firm, which handles day-to-day operations under collaborative investment and management.

According to the contract, BBQ franchises will be set up in five countries ― Equador, Venezuela, Peru, Chile and Bolivia.

The company will also set up a local subsidiary in Qatar and the United Arab Emirates, with plans to open its first BBQ outlet by the end of the year. The outlets will also be managed through master franchise contracts.For each BBQ chain that is opened, Genesis will receive an initial royalty of $5,000 and then a running royalty of 3.5 percent of the chain’s total revenue. The master franchise fee for the five South American countries was $1 million; the Arab countries are $200,000 each, Genesis said.Genesis also established a subsidiary in Panama, and formed memorandums of understanding with local investors to begin business later this year in Panama, Guatemala, Costa Rica, El Salvador, Honduras, Nicaragua and Cuba. In Mexico, Genesis signed a memorandum of understanding with the Korean cell phone maker Skyzen, with plans to open the first chain this year.“Currently, BBQ has expanded to 18 countries and by the end of this year, we will expand our foreign network to 34 countries,” said Yoon Hong-geun, chairman of Genesis.“We already advanced to Shanghai in 2003, and this year we are targeting Hong Kong, Taiwan and Macao.”

By Wohn Dong-hee Staff Writer [wohn@joongang.co.kr]

Pantech to drop cyber game team

In debt workout, the group also will end its sponsorship of pro league

Players of Pantech’s professional computer game team practice at their “home” in Bangbae-dong, southern Seoul, where they live together. By Wohn Dong-hee

The financial woes of Korea’s third-largest cellphone maker are forcing it to dump its professional computer game team and back away from a popular gaming event. The Pantech Group is entering a debt workout program, said spokesman Choi Seong-geun yesterday, and the company has been unable to find a firm to take over its professional gaming team, Pantech EX. Its support for the team will last until the end of this month.“If no one turns up between now and the end of the month, the team will be dismantled,” he said. Mr. Choi said that the group approached some 15 companies, but that talks went nowhere because firms didn’t understand the concept of professional gaming. The Pantech Group spent about 1 billion won ($10.6 million) a year to operate its professional gaming team, which was mid-tier compared to companies like KTF and SK Telecom, which spend about 1.4 billion won a year on their pro-gaming teams.The group will also discontinue sponsoring the SKY Pro League, the largest computer game event in Korea, named after Pantech’s cell phone brand. The group spent 1.8 billion won annually to sponsor the game, a major StarCraft tournament hosted by the state-run Korea eSports Association. The finals of the tournament draw thousands of spectators. The association is seeking another sponsor for the event.Pantech has been one of the many Korean firms increasing investment in the e-sports industry, but the company barely avoided bankruptcy last December after its creditors agreed to reschedule its debts. “As our management situation began to get worse, we began discussing what we had to let go. The tournament sponsorship went first, and we just recently decided that we can no longer support the team after this month,” Mr. Choi said.The team, consisting of 19 players and three coaches, was founded in August 2004. In its first year, it won the second round of the SKY Pro League and boasts star players like Lee Yun-yeol, who has more fan clubs than any professional Korean baseball player. Meanwhile, the Industrial Bank of Korea, the main creditor bank for Pantech Co. and its affiliate, Pantech & Curitel Communications Co., said yesterday that the creditors’ group has finalized plans for management normalization.

By Wohn Dong-hee Staff Writer [wohn@joongang.co.kr

North launches missiles into the East Sea

May 26, 2007

With the six-party nuclear talks on hold and the countries involved anxious for some sign of progress, North Korea fired a series of short range missiles into the East Sea (Sea of Japan) yesterday, according to South Korean officials.An official with the Joint Chiefs of Staff confirmed the incident but said more time was needed to identify the exact type and number of missiles fired. “The short range firing is thought to be one of the North’s annual drills in the East Sea but for more concrete information additional monitoring is required,” the Joint Chiefs said in a release. Several military officials said they suspected the missile firing was in response to the launch yesterday of an Aegis class destroyer by South Korea. Pyongyang fired the missiles from a coastal area of South Hamgyong Province, the Kyodo News Agency reported. The National Intelligence Service said the firing is “believed to be part of the North’s usual military training.” Japan’s NTV network reported that the missiles were of a surface-to-ship variety and they traveled a distance of between 100 and 200 kilometers. The incident came a day after officials here said rice aid to the North was being suspended due to lack of progress on nuclear talks. A Foreign Ministry official downplayed the incident, saying that there have been no indications that Pyongyang is reneging on a February deal under which it pledged to shut down its main Yongbyon nuclear reactor. “There is the political will to make progress in the nuclear talks and that includes the North,” said the official. The six-party talks are stalled due to lack of progress in finding an acceptable way to return $25 million in North Korean funds previously frozen in a money laundering dispute with Washington. Despite the lack of progress, Pyongyang notified Seoul yesterday that it would participate in scheduled ministerial level talks next week. Seoul suspended its rice and fertilizer aid to the North following a missile salvo in July of last year that included a failed launch of the Taepodong 2 type intercontinental ballistic missile capable of reaching Japan or Guam. The missile was on display at a military parade last month.

by Brian Lee Staff Writerhttp://joongangdaily.joins.com/article/africanu@joongang.co.kr

‘Hi’ hopes

South Korean director Lee Chang-dong and cast members Jeon Do-yeon and Song Kang-ho arrive Thursday at the Cannes Film Festival in France for the gala screening for their film “Secret Sunshine,” the only Korean film of 22 nominated for the top prize. The awards will be announced on Sunday.

First Korean position player in the majors coming home

First baseman Choi Hee-seop has signed a 350-million-won ($379,400) contract with Korean baseball’s Kia Tigers, the team announced yesterday. Jeong Jae-gong, the Tigers’ general manager, flew to Los Angeles last week to meet Choi. The Tigers had obtained the right to sign him after selecting Choi in an open draft for foreign-based players. The two will arrive in Korea today. In a recent interview with the Korean sports daily Ilgan Sports, Choi denied he would be back in Korea, even though Jeong had already been in Los Angeles to negotiate with Choi. After signing the deal, Choi clarified that he was hesitant about playing in Korea because “I felt I still had more to offer in the major leagues.” Choi added he is glad to join Kia, his hometown team based in Gwangju, and said he would like to help the club win its 10th championship this year. In 2002, Choi became the first Korean position player to play in the U.S. major league, debuting with the Chicago Cubs. He has also played for the Florida Marlins and the Los Angeles Dodgers. The Boston Red Sox picked Choi off waivers in the spring of 2006, but he only played for Boston’s Triple-A affiliate in Pawtucket. Choi was a spring training invitee with the Tampa Bay Devil Rays this year, but was cut during the camp. In 363 games in the majors, Choi had 40 home runs, 120 runs batted in and a .240 batting average. It remains unclear when Choi will appear in a Tigers’ uniform. Choi has not seen live baseball action in nearly two months, although he claims he has kept in shape by lifting weights and hitting balls. Where Choi will play also remains a question. The Tigers’ incumbent first baseman is left-hander Jang Sung-ho. Jang has hit at least .300 in each of last nine seasons, tying the league record.

Aegis class destroyer ready for naval duty

With President Roh Moo-hyun watching, South Korea’s first Aegis class destroyer was launched yesterday, significantly upgrading the Navy’s combat capability against a backdrop of increased military spending in Northeast Asia. The King Sejong, a 7,600 ton Aegis class destroyer built by Hyundai Heavy Industries, is a step toward giving Korea the ability to protect sea lanes far from the territorial waters of the country. Roh, who is an advocate of upgrading military power, said, “You cannot protect the peace if you do not have your own combat capability. We have to be able to protect ourselves. The Aegis is a symbol of such ability.” The launch coincides with an ongoing buildup of military forces in China, which has been steadily increasing military spending. China is reportedly pushing ahead with the construction of a nuclear-powered aircraft carrier scheduled to be operational by 2020 and it is said to be developing its own fighter aircraft with stealth capability. Some observers worry that China, South Korea and Japan could soon embark on a full-fledged arms race as the United States encourages Japan to counter China’s growing power. Tokyo has asked the United States to sell it the F-22 Raptor, the most sophisticated fighter jet in the world. In March, Japan deployed its first ballistic missile interceptors to bolster its defenses against missile threats posed by North Korea. Cha Seung-ju, a researcher at the Korea Institute for Defense Analysis, said that the Aegis will upgrade the Navy’s ability but that making a comparison with China and Japan’s naval power is premature. “This is good for protecting our sea lanes and projecting military power in the case of peacekeeping missions,” said the analyst. “It’s a start.” The Defense Ministry has said that the King Sejong will be similar to ships deployed by the United States and Japan. The ship’s technology and weapons systems are able to identify and track up to 900 targets at the same time. With an estimated budget of 3 trillion won ($ 3.2 billion) the Navy plans to field a total of three Aegis class ships. Meanwhile, North Korea accused the United States, Japan and South Korea of being Asia’s biggest security threats and pledged to give up its nuclear weapons only if missiles targeting the North are removed by the three countries, according to the Associated Press on Thursday. North Korea made the charges in a paper given to an ASEAN Regional Forum in a closed meeting Thursday, but said it still welcomes talks aimed at denuclearizing the Korean Peninsula, the Associated Press reported. By Brian Lee Staff Writer / Kim Min-seok JoongAng Ilbo http://joongangdaily.joins.com/article/africanu@joongang.co.kr

The origins of bibimbap

From long ago, the women from Jeonju are well known for their excellent cooking skills and devotion to the cooking. Consequently, most of the people from Jeonju are so fussy about food that it is said that if they ordered food in a restaurant in other cities, chefs bothered themselves to suit their taste. As you can see, Jeonju is called as the hub of the Korean food culture.
Along with Pyeongyang Naeng-Myun (cold noodle) and Gaesung Tang-Myun (rice served in the soup), Jeonju Bibimbab is the representative food of the Chosun Dynasty. Just like Bibimbab, Kongnamul-Bab (rice cooked with bean sprouts) and Han-Jung-Sik (Korean traditional full course menu) are another typical menus of Jeonju, where you can find the particular taste and the generosity of Jeonju.

As Jeonju Bibimbab is made of over thirty kinds of ingredients including bean sprouts, Chung-Po-Mook (mung-bean jelly), sticky rice, chilly paste and so on, it is enormously nutritious, and has been acknowledged as the specialty of Jeonju. It is no surprise that many visitors and tourists who visit Jeonju are determined to eat Bibimbab.

From : http://www.gogung.co.kr/eng/index.htm