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Korea Herald
5 days ago
- Business
- Korea Herald
A scoop of competition: Hanwha's Benson challenges Baskin-Robbins' 40-year reign
Kim Dong-sun, vice president of Hanwha Galleria and third son of Hanwha Group Chairman Kim Seung-youn, on Friday launched premium ice cream brand Benson with its first store, Benson Creamery Seoul, in Apgujeong. All eyes are on whether it can challenge market leader Baskin-Robbins. Betterscoop Creamery is a new Hanwha Galleria subsidiary led by Oh Min-woo, who also oversaw the launch of the hamburger chain Five Guys in Seoul in 2023. 'Vice President Kim was deeply involved in the brand's direction and decision-making,' Oh said during a May 19 press briefing. This isn't Hanwha Galleria's first foray into ice cream. In 2018, it launched EBA (Everything But Artificial) Ice Cream, which was discontinued in 2023 due to limited reach and low brand recognition. Learning from that, Hanwha has taken a more strategic approach with Benson, applying for a new trademark and securing a dedicated manufacturing facility in Pocheon. Benson is positioned as a premium offering, using only domestic milk and cream, acacia honey, and single-origin Tanzanian chocolate. A single 100g cup is priced at 5,300 won ($3.73) — about 1,400 won more than a Baskin-Robbins single regular. A pint (320g) costs 15,300 won, 5,500 won more than Baskin-Robbins' 9,800 won. 'The target demographics for Benson and Baskin-Robbins are likely very different,' an industry insider noted. 'Benson's location in Apgujeong signals a deliberate premium strategy.' The company plans to open 10 to 20 directly operated stores this year. While market entry won't be easy, CEO Oh said the goal is not direct competition. 'We're not reacting to any one competitor. We hope to elevate the overall ice cream market and offer more options to consumers.' Meanwhile, SPC's Baskin-Robbins is marking its 40th anniversary in Korea with a renewed brand vision, 'ICET' (Innovation, Collaboration, Environment, Technology). 'We aim to go beyond variety and explore new value,' said Hur Hee-soo, SPC Group vice president and son of Chairman Hur Young-in, credited with bringing Shake Shack to Seoul in 2016. Baskin-Robbins recently launched a Cheongdam flagship store featuring its Deep Collection, made with higher milk fat and Echire milk, alongside lower-calorie, reduced-sugar options and AI-developed flavors. Since its first store opened in Myeong-dong in 1986, the brand has expanded to over 1,500 locations nationwide.
Korea Herald
10-02-2025
- Business
- Korea Herald
Hanwha Precision Machinery renames itself Hanwha Semitech
Hanwha Precision Machinery, a Korean industrial solutions provider, has rebranded as Hanwha Semitech to underscore its commitment to chip production machines and solutions. The company, affiliated with Hanwha Group's security solutions division Hanwha Vision, unveiled the new name Monday. The company said its rebranding aims to enhance global competitiveness and align itself with its long-term vision by sharpening its focus on the core business. The company, which became independent from Hanwha's defense unit Hanwha Aerospace in September, provides factory equipment for precise material processing, essential in medical and device manufacturing, as well as chip packaging machines. Last year, the company expanded its portfolio to include semiconductor front-end process solutions, preparing to deliver equipment for adding thin film layers that control electrical properties on semiconductor wafers. With the rebranding, Kim Dong-sun, head of strategic management at Hanwha Galleria and Hanwha Vision, will lead the company's strategy, focusing on expanding its core business for the future. Kim, who has previously spearheaded strategy development in Hanwha's other manufacturing units, is the youngest son of Hanwha Group Chairman Kim Seung-youn. His involvement is expected to add momentum to the company's direction toward future business, as he has pledged full support for the development of new technologies. Hanwha Vision has been focusing on developing its thermal compression bonder, semiconductor packaging equipment used to produce high-bandwidth memory (HBM) chips—the most advanced DRAM chips in high demand due to the growth of artificial intelligence technologies. The company is also working on developing a machine for hybrid bonding of chips, which will enable the production of more effective HBMs with a thinner volume. 'We have reflected our direction and commitment in our new name,' said Kim Dong-sun. 'With the innovative technology gained through continuous research and development investment, we will reshape the semiconductor production solutions market.'
