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Baek Byung-yeul

Korea Times K-Culture Reporter

Baek Byung-yeul is a journalist at The Korea Times focused on cultural content, including films and cultural events in South Korea. You can contact him at baekby@koreatimes.co.kr to share your insights.

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Companies

Celltrion to merge with Celltrion Healthcare, Celltrion Pharm in 2 phases

Seo Jung-jin, chairman of Celltrion Group, speaks during an online press conference, Thursday. Captured from conferenceBy Baek Byung-yeulCelltrion, a biosimilar producer, will merge with Celltrion Healthcare, a group subsidiary responsible for marketing biosimilar and other medicines, this year to create business synergy, Celltrion Group Chairman Seo Jung-jin said Thursday. He also said that the merged unit will later absorb Celltrion Pharm, the group's chemical pharmaceuticals maker.The term biosimilar means a biologic medical product that is almost an identical copy of an original product that is manufactured by a different company."Celltrion is expected to complete the merger of Celltrion Healthcare by the end of the year, followed by the next merger with Celltrion Pharm in the next six months,” the chairman said during an online conference.Seo holds a 95 percent stake in Celltrion Holdings, which has a 20.02 percent stake in Celltrion and a 35.54 percent stake in Celltrion Healthcare, respectively. Celltrion has a 54.96 percent stake in Celltrion Pharm.Celltrion announced i

Aug 17, 2023By Baek Byung-yeul
Celltrion to merge with Celltrion Healthcare, Celltrion Pharm in 2 phases
Others

Korea ramps up final efforts for Busan's World Expo 2030 bid

Busan citizens welcome a delegation from the Bureau International des Expositions (BIE), who came to Korea to conduct due diligence on Busan, a candidate for hosting the World Expo 2030, at Busan Station, April 4. NewsisBy Baek Byung-yeulThe government is making a final push to make the southern port city of Busan become the host of the World Expo 2030, with around 100 days left until the selection vote on Nov. 28, the industry ministry said Thursday.The government said it will prioritize all of its diplomatic activities until the end of November to ensure that Busan is selected as the host city of the World Expo 2030 and will mobilize every available resource to secure the votes of the Bureau International des Expositions (BIE) member countries.The BIE, an international organization that governs the World Expo, will choose the host city on Nov. 28, through a vote by 179 member countries, according to the industry ministry.Busan is currently competing with Riyadh, Saudi Arabia and Rome, Italy, and the competition is forecast to be fierce as Korea's rivals are also expected to acceler

Aug 17, 2023By Baek Byung-yeul
Korea ramps up final efforts for Busan's World Expo 2030 bid
Tech & Science

Google supports Korean startups' growth, expansion overseas

From left, Kwon Ryun-hwan, CEO of Petpeotalk, Yoon Jeong-ha, CEO of Zamface, and Park Sang-eon, CEO of Medility, pose during a press conference introducing startup founders that have been selected for ChangGoo, Google Korea's startup accelerator program, at Google Korea's office in Seoul, Thursday. Courtesy of Google KoreaBy Baek Byung-yeulGoogle Korea's startup accelerator program, ChangGoo, is serving as a springboard for high-potential startups here, with participating companies seeing an average 62 percent increase in revenue and a 69 percent increase in overseas expansion, the Korean unit of the U.S. tech giant said Thursday.“The ChangGoo program is in its fifth year and was launched in 2019 in cooperation with the Ministry of SMEs and Startups and the Korea Institute of Startup & Entrepreneurship Development to help Korean startups grow. From 2019 to 2023, 460 companies participated, and many achievements and overseas expansion cases were created,” Shin Kyung-ja, head of Marketing at Google Korea, told reporters during a press conference in Seoul.“Many ach

Aug 17, 2023By Baek Byung-yeul
Google supports Korean startups' growth, expansion overseas
Companies

Will major Korean game companies bounce back?

Local firms urged to diversify platforms, expand overseas businessesBy Baek Byung-yeulNCSOFT, Netmarble, Krafton and other game companies, which have been struggling with an industry-wide downturn over the past two years, are urged to make changes to regain growth momentum, such as expanding service platforms to PCs and consoles and diversifying genres beyond role playing games, according to industry officials and experts, Monday.They said that the basic aim of games is to provide entertainment to users and through various channels, citing Nexon, which did well in the second quarter by diversifying its platforms and genres.“As the technology to make games has leveled up, more and more companies have entered the mobile game industry. The market is limited and the number of games released is increasing, but Korean game companies have released too many MMORPGs (multiplayer online RPGs), so the competition has intensified,” Ju Woo-suk, a professor of Game Technology at Dongseo University, said.The professor said that while the rise of games as a form of stay-at-home content d

Aug 17, 2023By Baek Byung-yeul
Will major Korean game companies bounce back?
Tech & Science

Samsung's new foundry plant in Texas partners with US AI chip design firm

This photo, taken by Kyung Kye-hyun, CEO of Samsung Electronics' Device Solutions Division, on July 14, shows Samsung Electronics' foundry plant in Taylor, Texas, is under construction. Groq, a U.S. chip design company, said Tuesday (local time) that it agreed to produce its chip at Samsung's Taylor foundry plant. Captured from Kyung's InstagramBy Baek Byung-yeulSamsung Electronics' contract-based chip manufacturing foundry plant in Taylor, Texas, secured its first customer as Groq, a U.S.-based AI chip design company, announced that it has ordered the Korean chip maker to produce its next-generation AI chip, Tuesday (local time).Groq said it is partnering with Samsung to produce its latency processing unit (LPU) chip, an AI accelerator chip, on a 4-nanometer process at Samsung's foundry plant in Taylor. The plant is now under construction, with plans to be completed by the end of this year.This U.S. company was founded by former Google engineers in 2016 and has introduced its LPU chip, a type of AI chip with an engine that maximizes the use of memory bandwidth to perform high-speed

Aug 16, 2023By Baek Byung-yeul
Samsung's new foundry plant in Texas partners with US AI chip design firm
Tech & Science

Samsung, LG unveil trend-leading technologies at K-Display exhibition

Visitors to Samsung Display's booth watch the company's “slidable” displays during the K-Display 2023 exhibition at the COEX convention center in Seoul, Wednesday. Korea Times photo by Baek Byung-yeul By Baek Byung-yeulSamsung Display and LG Display ― Korea's flagship display companies ― are showcasing their cutting-edge OLED screens at the K-Display 2023 exhibition, offering visitors a glimpse of the next-generation monitors to be used in various sectors in mobile devices, vehicles and mixed-reality, they said Wednesday.Organized by the Ministry of Trade, Industry and Energy and hosted by the Korea Display Industry Association, the K-Display exhibition is the largest exhibition for the display industry in Korea, now in its 22nd year.The event, the largest yet, will be held from Wednesday to Friday with 172 companies including Samsung and LG.Samsung and LG showed off their technology at the event, unveiling new products of OLED, the next-generation display technolog

Aug 16, 2023By Baek Byung-yeul
Samsung, LG unveil trend-leading technologies at K-Display exhibition
Companies

KOTRA collaborates with foreign influencers to promote local SMEs

This video still shows Miguel Suarez, a Mexican YouTuber living in Korea, promoting a Korean snack on KOTRA's YouTube channel. KOTRA, a state-run trade promotion agency, said Tuesday that it has been cooperating with overseas influencers to promote products of small and medium-sized companies in the global market. Courtesy of KOTRABy Baek Byung-yeulKorea Trade-Investment Promotion Agency (KOTRA) is collaborating with overseas influencers to help promote to overseas buyers quality products made by domestic small and medium-sized companies, the state-run trade promotion agency said, Tuesday.The agency said it is creating short form videos with overseas influencers, such as YouTube Shorts, letting them introduce excellent products of Korean SMEs.KOTRA said it recently collaborated with Miguel Suarez, a Mexican YouTuber living in Korea who has around 240,000 subscribers, to create YouTube Shorts videos showcasing consumer goods. YouTube Shorts is a short form video available on YouTube that limits the maximum length of a video to one minute.Suarez is well-known for introducing Korean cul

Aug 15, 2023By Baek Byung-yeul
KOTRA collaborates with foreign influencers to promote local SMEs
Companies

LG Electronics to unveil Universal UP Kit to boost home appliance accessibility

The photo shows LG Electronics' home appliances equipped with Universal UP Kits that are designed to improve usability. Courtesy of LG ElectronicsBy Baek Byung-yeulLG Electronics will unveil its Universal UP Kit, an attachable accessory that helps users easily use their home appliances in a bid to offer an enhanced customer experience, at the upcoming IFA tech fair next month, the home appliance maker said Tuesday.LG said the kits will be introduced at the IFA fair in Berlin on Sept. 1, and the products are designed to be easy to use for everyone, regardless of gender, age or disability. The company elaborated the Universal UP Kit includes accessories that help with opening refrigerators and washing machines.The company has operated an advisory group for people with disabilities since 2021 to listen carefully to customer concerns and improve product accessibility.To find out the pain points for customers, the company surveyed its disability advisory board, which includes people with disabilities, about the inconveniences they experience while using home appliances. After analyzing th

Aug 15, 2023By Baek Byung-yeul
LG Electronics to unveil Universal UP Kit to boost home appliance accessibility
Tech & Science

SK Telecom invests $100. mil in US AI startup Anthropic

Models try out SK Telecom's AI service A. Friends at a pop-up store at the Lotte World Adventure amusement park in Seoul, Sunday. The company said it will invest $100 million in the U.S. AI company Anthropic to further improve its capabilities in the generative AI business. Courtesy of SK TelecomBy Baek Byung-yeulSK Telecom will invest $100 million in U.S.-based generative AI startup company Anthropic in a bid to improve its competence in the emerging technology and further develop various language-based AI services for global markets, the mobile carrier said Sunday.The company said it decided to invest in the U.S. company, best known for its Claude AI chatbot service, to strengthen cooperation with each other in the AI business. The announcement came a month after the company launched the Global Telecom AI Alliance with global mobile carriers including Deutsche Telekom, e& and Singtel in July, to jointly develop a telecom AI platform.Headquartered in San Francisco, Anthropic is a generative AI-specialized company founded in 2021 by former OpenAI researchers. In addition to winni

Aug 13, 2023By Baek Byung-yeul
SK Telecom invests $100. mil in US AI startup Anthropic
Companies

Scouts thank Hyundai Motor Group for support as they leave Korea

Slovenian Scouts wave their hands as they leave Kia's education center in Osan, Gyeonggi Province, Saturday. Courtesy of Hyundai Motor Group By Baek Byung-yeulScouts who stayed at Hyundai Motor Group's training facilities to escape Typhoon Khanun, which hit the Korean Peninsula last week, expressed their gratitude to the automotive group as they returned home after completing their activities at the World Scout Jamboree, the group said Saturday.The automotive group offered around 1,000 Scouts from six countries ― the Netherlands, Finland, Hong Kong, the Philippines, Slovenia and El Salvador ― four of the group's affiliate training facilities, including Hyundai Motor, Kia and Hyundai Engineering for five days.Hyundai Motor Group also took great care to introduce the Scouts to traditional and modern Korean culture and the nation's automotive industry, which ranks third globally, by offering a variety of programs during their stay, including learning K-pop dance and ex

Aug 13, 2023By Baek Byung-yeul
Scouts thank Hyundai Motor Group for support as they leave Korea
  • State auditor to launch probe into problem-ridden Jamboree
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