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1 week ago | 
koreadailyus.com | Wonhee Cho
The Internal Revenue Service (IRS) is facing growing delays and cancellations of tax audits as its workforce continues to shrink, raising concerns that audits may decline even further. Layoffs Directly Impact TaxpayersPeter Son, CPA, told The Korea Daily that restructuring has already affected taxpayers. “We’ve seen cases where audits were postponed after staff layoffs and ultimately never carried out,” he said.
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1 week ago | 
koreadailyus.com | Wonhee Cho
Lotteria, the well-known Korean burger chain, has started construction on its first North American location inside the Harbor–Orangethorpe Shopping Center in Fullerton, California. The new store is being built at the former KFC site at 150 W Orangethorpe Ave, Fullerton, located near the intersection of Harbor Boulevard and Orangethorpe Avenue.
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1 week ago | 
koreadailyus.com | Wonhee Cho
Baekjeong, a well-known Korean American barbecue chain, will reopen in Koreatown on May 7 at its new location at 3429 W. 8th St., the former site of Mansu. The reopening comes 16 months after the closure of its Chapman Plaza branch in January 2024. Food industry outlet Eater LA reported that the new restaurant will offer its signature meats along with an expanded lineup, including yukhoe (seasoned raw beef), steamed egg, kimchi pancake, galbi, spicy pork bulgogi, and beef intestines.
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1 week ago | 
koreadailyus.com | Wonhee Cho
SharkNinja is recalling approximately 1.85 million Ninja Foodi pressure cookers due to a defect that could cause burn injuries, the U.S. Consumer Product Safety Commission (CPSC) announced on April 25. The recall affects all models in the OP300 series of multi-function pressure cookers. According to the CPSC, the lid may not properly seal during pressure cooking, which can cause hot contents to eject and pose a burn hazard.
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1 week ago | 
koreadailyus.com | Wonhee Cho
Korean American banks across the U.S. showed signs of recovery in the first quarter of 2025, shaking off last year’s sluggish performance. Compared to the same period in 2024, total assets, loans, and deposits increased across the board. Net income, which had declined in both Q3 and Q4 last year, also showed a slight rebound in Q1.
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1 week ago | 
koreadailyus.com | Wonhee Cho
Open Bank (CEO Min Kim) announced the launch of its Cash Management Service (CMS) promotion for business customers starting May 1. During the promotional period, new business checking account holders who maintain specific daily balance thresholds for at least one day within 30 days of account opening will be eligible for various CMS fee waivers. Regular CMS fees will apply after 12 months. $5,000+ Balance: Waiver of the $100 CMS setup fee and up to $50 for the first business check order.
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1 week ago | 
koreadailyus.com | Wonhee Cho
Hanmi Financial Corp., the holding company of Hanmi Bank, reported net income of $17.67 million for the first quarter of 2025, or $0.58 per diluted share, surpassing Wall Street’s consensus estimate of $0.57 per share. The figure remained virtually unchanged from the previous quarter’s $17.70 million (also $0.58 per share) but represents a 16.5% increase from the $15.16 million ($0.50 per share) reported in the first quarter of 2024.
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1 week ago | 
koreadailyus.com | Wonhee Cho
UniBank, a Korean American bank based in Washington State and led by President and CEO Stephanie Yoon, reported a net loss for the first quarter of 2025 amid a decline in key financial indicators. According to the Q1 earnings release from its holding company, U&I Financial Corp., the bank recorded a net loss of $2.07 million, or $0.38 per share. This marks a significant downturn compared to the $1.27 million in net income ($0.23 per share) reported in Q1 2024.
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1 week ago | 
koreadailyus.com | Wonhee Cho
Hope Bancorp, the holding company of Bank of Hope, reported a net income of $21.1 million for the first quarter of 2025, or $0.17 per share, falling just short of Wall Street expectations of $0.18 per share. This figure marks a 13.3% decline from the previous quarter’s $24.3 million ($0.20 per share) and an 18.4% decrease from the $25.9 million ($0.21 per share) reported in Q1 2024.
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1 week ago | 
koreadailyus.com | Wonhee Cho
Chipotle is launching a special Cinco de Mayo promotion, offering 50,000 free burritos, free delivery, bonus menu items, and a digital game giveaway. According to a report by KTLA on April 30, the promotion features free delivery through May 5. Customers can waive the delivery fee by entering the promo code ‘DELIVER’ when placing orders online. In addition, from May 3 to May 5, those who buy a main menu item and use the code ‘CINCO25’ will receive free chips and queso blanco.
