Latest news with #PaikJong-won
Korea Herald
3 days ago
- Business
- Korea Herald
Embattled food tycoon posts videos of store owners, as he tries to power through disputes
Paik Jong-won's company launches 'support committee' set to provide aid for store owners hurt by recent controversies Facing numerous controversies over quality control at his food company, food franchise entrepreneur Paik Jong-won recently put store owners in his culinary empire at the forefront by posting their videos and vowing to give them more input on company policies. Paik's official YouTube channel on Friday posted multiple short videos of store owners of Paik's franchises, introducing their respective restaurants. The videos did not carry any messages or appear to have alternate motives on surface, but was contrast sharply with the rest of the videos on the channel that heavily feature Paik himself. The videos were widely interpreted as an attempt to restore faith in Paik and his company TheBorn Korea, which recently faced an array of controversies and police investigations for issues ranging from alleged false advertisements to hygiene issues wtih ingredients. As of Sunday, police are investigating 14 cases related to Paik. Paik, whose booming business is largely attributed to his fame as TV celebrity, vowed on May 6 to cease all TV appearances to focus on changes within his company. He also stressed that the store owners under his franchises have been suffering from the recent situation, vowing for his company to spend 30 billion-won ($21.67 million) in subsidizing them. The plan included a company-subsidized sale across franchise stores affiliated with TheBorn Korea. Paik himself told reporters that he will pursue stern legal actions against attempts to distort his image, which he said can be traced to a few people online. The recent videos of the store owners on YouTube had their comment sections closed, with a warning that slander and groundless speculation against them could be subject to punishment. TheBorn Korea, at which Paik is the CEO, said Sunday it is pushing ahead with the plan to launch a committee that will function as communication channel between the company leadership, outside experts, and representatives of store owners. The committee will be where each party will be able to discuss the plans for Paik's franchise stores. According to the company, it has been hosting regular meetings between Paik and store owners since Paik announced the large-scale subsidy plan. The operation of the committee will be fully funded by Paik personally.
Korea Herald
6 days ago
- Business
- Korea Herald
Paik Jong-won's TheBorn to debut bibimbap brand in Germany
Korean celebrity chef and food franchise entrepreneur Paik Jong-won's TheBorn Korea is set to launch a new bibimbap brand at German retail giant Globus in early July, according to industry sources Wednesday. The company is to debut Korean Paik's Bibim at a food court inside a Globus store near the retailer's headquarters in Wendel, Germany. The move marks TheBorn Korea's shift from traditional overseas franchises to a business-to-business model, focusing on sauce exports and local consulting rather than operating its own outlets. 'Ingredients will be sourced locally, but our signature sauces will be shipped from Korea,' said a company official. 'German chefs will handle the cooking, supported by standardized recipes and training to ensure consistent taste.' If the pilot program proves successful, the company plans to expand across more than 100 Globus locations in Germany, the Czech Republic and Russia. The initiative also marks the first time Korean food will be featured in Globus's food court system. Paik's push into Europe comes amid domestic controversy and falling stock prices, with TheBorn Korea's shares down over 25 percent from the initial public offering. The company is betting on the global popularity of Korean culture to establish new revenue streams, including the development of eight export-focused sauces — six of which are already complete. Industry experts say the strategy could reshape how Korean franchises approach international markets, reducing risk while enhancing scalability. 'This is a significant shift not only for TheBorn Korea, but for the Korean food industry as a whole,' said one industry source. 'If successful, it could open the door for other brands to pursue similar low-risk, high-scale global strategies.'
Korea Herald
19-05-2025
- Entertainment
- Korea Herald
Fall & fight of star chef Paik Jong-won in 2 minutes
Albeit not Michelin-starred, Korean restaurateur and celebrity chef Paik Jong-won is arguably the country's most famous culinary figure. Known for his easy-to-follow cooking, built on humor and pragmatism, he has become something of a national uncle, always ready with foolproof recipes. But this year marks a turning point in his uphill career, as he faces a string of setbacks and mounting scrutiny, gradually stepping out of the frame after more than a decade in the media spotlight. Who is Paik Jong-won? Korea's best-known celebrity chef and restaurateur Built a food empire with Theborn Korea (3,000+ stores, 25 brands) Gained fame for easy, practical cooking on television and online platforms Often dubbed Korea's 'national uncle chef' From stardom to scrutiny Rose to fame via hits like MBC's "My Little Television" and Netflix's "Culinary Class Wars" Took TheBorn Korea public in late 2024 — stock spiked, then halved Backlash & controversies Criticized for low pork content in Paik Ham Tangerine beer under fire for weak fruit content Safety missteps: LPG gas near stove, microwaving plastic, using pesticide bottle for sauce Ingredient mislabeling and franchise hygiene issues Accused of meddling in show casting, inappropriate interview practices 14 ongoing police investigations related to food safety and labeling violations Paik steps back Announced hiatus from media to address internal issues Apologized to public and franchisees Launched emergency measures: 30 billion won ($22 million) support fund 3-month royalty suspension Full safety and compliance review What's next? minmin@
Straits Times
15-05-2025
- Entertainment
- Straits Times
S. Korean celebrity chef Paik Jong-won vows to take legal action against ‘malicious attacks'
South Korean celebrity chef Paik Jong-won said his company is preparing to respond legally to those who 'distort the facts with malicious intent'. PHOTO: SCREENGRAB FROM PAIK JONG-WON/YOUTUBE SEOUL - South Korean celebrity chef and food franchise entrepreneur Paik Jong-won has announced plans to take legal action against what he describes as 'malicious attacks' aimed at destabilising his company, TheBorn Korea. Speaking with reporters at a restaurant in Gangnam-gu, Seoul, on May 13 , Mr Paik said his company has reviewed online content, particularly on YouTube, and is preparing to respond legally to those who 'distort the facts with malicious intent'. 'I could tolerate attacks against Paik Jong-won the individual, and I do feel remorse about errors of my ways and am fixing them ... but it's the excessively critical (online) content that worries me,' he said. The comments come on the coattails of Mr Paik's announcement last week that he would discontinue TV appearances in light of the string of controversies concerning his food and beverage company. This includes accusations of misleading or deceiving consumers about the origins of ingredients and failing to properly refrigerate meat at a local festival. Police said on May 12 that 14 cases related to Mr Paik and the company are currently under investigation. 'A few individuals are behind this' The 58-year-old entrepreneur offered an apology for the hygiene issues and misleading product labeling. He announced that TheBorn Korea would spend 30 billion won ($21.1 million) in support measures for franchisees suffering financial troubles and reputational damages. In a bid to power through the controversy, Mr Paik said he is currently working on developing new sauces for Korean dishes for the international market. Concerning the much-disputed product Paik Ham — which had low pork content despite being more expensive than the market price of other ham products of similar quantity — he said the company would release a new version with higher pork content in the coming months. While Mr Paik admitted responsibility for the company's missteps, he also claimed that a small group of individuals is driving the majority of the attacks. He said some individuals have submitted over 70 petitions to the authorities concerning TheBorn Korea, and said that the repeated criticism over issues already under improvement was exacerbating the anxiety of franchise store owners. 'We admit to the problems and are trying to fix them, so I urge you to wait and watch just a little bit.' An unidentified petitioner, who recently posted online proof of themselves submitting 72 petitions related to Paik and the company between March and May, refuted Paik's comments on Wednesday. The person said that those are not repeated petitions about the same issue, but petitions over repeated illegal acts. 'If the same company repeatedly conducted illegal activities across the country, wouldn't it be in the public's interest to consistently raise the issue about it?' The person posted in an online community. THE KOREA HERALD/ASIA NEWS NETWORK Join ST's Telegram channel and get the latest breaking news delivered to you.
Business Times
14-05-2025
- Business
- Business Times
Celebrity chef Paik's fortune tumbles on ingredients controversy
[SEOUL] A South Korean celebrity chef's wealth, fuelled by a hot stock listing, took a tumble after a series of allegations shook confidence in his flagship restaurant chain. Paik Jong-won's 60 per cent stake in The Born Korea is now valued at about 245 billion won (S$228 million), less than half of its peak shortly after listing. The company on Wednesday (May 14) said operating profit for the three months through March rose 6.6 per cent to 6.2 billion won from a year ago, while sales grew 2.6 per cent to 110.7 billion won. The restaurant chain that operates about 2,900 outlets was accused of breaches by mislabelling some products as domestic ingredients. Online petitions by citizens triggered a police probe last month, according to a spokesperson for the regional district government. While the company did not respond to an email seeking comment, it and Paik have apologised. 'With ethical management and food safety as top priorities, we are carrying out a complete overhaul across the internal system and external sites,' the company said in a statement last month. Dubbed South Korea's Gordon Ramsay by local media, Paik rode his success on Netflix's Culinary Class Wars to a blockbuster stock listing in November. Since then, the stock has tumbled 57 per cent after hitting a record on its trading debut to Wednesday's close, as the apologies failed to shore up confidence, the chef last week said he would not sign up any new TV commitments to focus on his core restaurant business. Founded in 1994, the chain of restaurants offers affordable menus and casual dining experiences. The company owns some 25 brands including New Maul Restaurant, Hong Kong Banjum and Paik's Coffee. Paik's plight highlights the key-man risks to investors from piling into hot celebrity IPOs, and the damage it could cause to the franchise when the main person driving business is distracted by many commitments. On Monday, the company offered a temporary 50 per cent discount on its menus, in an effort to win back customers. Paik is scaling back from a media career on the upswing. His profile has grown thanks to a growing presence on various TV food shows. The celebrity chef has also built up a subscriber fan base of 6.6 million for his YouTube channel that features food-related videos, from simple recipes that can be recreated at home, to travelling overseas in search of local cuisines. BLOOMBERG
