my timesThe Korea Times
baekby

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.

Go to Email

Read more

Tech & Science

Korea, US to expand cooperation in space, quantum, bio

President Yoon Suk Yeol speaks while standing alongside U.S. Vice President Kamala Harris after touring NASA's Goddard Space Center in Greenbelt, Md., April 25 (local time). YonhapBy Baek Byung-yeulKorea and the United States are expanding cooperation in advanced science and technology sectors such as space, quantum technology and biotechnology in the wake of President Yoon Suk Yeol's state visit to Washington last month, according to the science ministry, Thursday.The Ministry of Science and ICT said that bilateral tech cooperation is expanding following the president's state visit to the U.S. and building a solid partnership with the U.S., a technological leader, is essential for Korea as countries are competing fiercely to secure technological leadership.“It is expected that Korea will be able to solidify its position as a global technological powerhouse by laying the foundation for extensive science and technology cooperation between Korea and the U.S.,” the science ministry said.The most active cooperation between the two is expected to be in the space sector. During

May 4, 2023By Baek Byung-yeul
Korea, US to expand cooperation in space, quantum, bio
Tech & Science

KT launches 2 service robots for restaurants

Seen is KT's service robot, manufactured by LG Electronics. KT said Tuesday that it added two new AI technology-based service robots that serve food for restaurants. Courtesy of KTBy Baek Byung-yeulKT launched two new service robots that are both based on artificial intelligence (AI) technology, targeting restaurants that are seeking to ease their operational burden by using robots, the company said Tuesday. The company said the two new robots are made by Bear Robotics and LG Electronics, respectively, and have significantly improved driving stability and marketing utilization compared to the existing models. With the two models, KT now has five AI-based robots.The two next-generation AI service robots are designed to carry food and drinks in a variety of indoor environments, including uneven tile floors and uneven surfaces, using optimized suspension structures and cushioning devices for stability. In addition, stability has been greatly improved so that multiple robots can be operated in the same space at the same time.With the launch of these robots, KT plans to expand the use of

May 2, 2023By Baek Byung-yeul
KT launches 2 service robots for restaurants
Tech & Science

Quest vows to help Korean clients manage cloud risk

Youn Byung-hoon, country manager of Quest Software Korea, speaks during a press conference at the Westin Josun Seoul hotel, Tuesday. Korea Times photo by Baek Byung-yeulBy Baek Byung-yeulQuest Software, a U.S.-based IT management and security software company, will provide comprehensive solutions in IT system digitization and cloud computing backup for enterprise clients in Korea to help them reduce operational risks, according to the head of its Korean branch, Tuesday.“Companies face the risk of managing their own data and that of their customers. Managing data is always a risk, so it's as important to a company's operations as increasing revenue and reducing costs. We want to reduce the risk to our customers in this area,” Youn Byung-hoon, country manager of Quest Software Korea, said in a press conference in Seoul.Established in California in 1987, Quest Software is best known for active directory security and active directory disaster recovery. Quest Software said an active directory is a type of database and set of services that connects users with the network resour

May 2, 2023By Baek Byung-yeul
Quest vows to help Korean clients manage cloud risk
Companies

Washington agrees to lessen burden on Korean firms investing in US

Lee Chang-yang, left, minister of trade, industry and energy, shakes hands with U.S. Secretary of Commerce Gina Raimondo during the U.S.-Korea Supply Chain and Commercial Dialogue at Willard InterContinental, a hotel in Washington D.C., Thursday (local time). Courtesy of Ministry of Trade, Industry and Energy Two nations to bolster cooperation on clean energy By Baek Byung-yeulSouth Korea and the United States have agreed to minimize uncertainty and business burdens for Korean companies investing in the U.S. arising from the implementation of the CHIPS Act, according to the Ministry of Trade, Industry and Energy, Friday. The two nations also decided to work closely with Korean companies to address their concerns regarding the Inflation Reduction Act (IRA). Minister of Trade, Industry and Energy Minister Lee Chang-yang and his counterpart U.S. Secretary of Commerce Gina Raimondo issued a joint declaration at the first U.S.-Korea Supply Chain and Commercial Dialogue i

Apr 28, 2023By Baek Byung-yeul
Washington agrees to lessen burden on Korean firms investing in US
Companies

SK bioscience to invest $1.8 bil. by 2027 to become top-tier bio firm

Ahn Jae-yong, CEO of SK bioscience, speaks during a press conference at the Korea Press Center in central Seoul, Friday. Courtesy of SK bioscienceBy Baek Byung-yeulSK bioscience, the country's prominent vaccine developer and producer, will invest around 2.4 trillion won ($1.8 billion) over the next five years until 2027 to become a top-tier bio and vaccine powerhouse, its CEO said Friday.Among other plans, the firm is set to invest 1.2 trillion won in research and development (R&D), a similar level to that of the global big pharmaceutical companies, to take the lead in the country's vaccine and bio industry.“SK bioscience has challenged itself to pursue rapid changes and our major projects are on track and on target,” Ahn Jae-yong, CEO of SK bioscience, said during a press conference in Seoul. “The next five years will be a period of aggressive investment that will shape the future of SK bioscience, and we will continue to grow rapidly and systemically.”SK bioscience is known for producing COVID-19 vaccines for global companies such as Novavax and in 2022,

Apr 28, 2023By Baek Byung-yeul
SK bioscience to invest $1.8 bil. by 2027 to become top-tier bio firm
Companies

Hyundai Motor chief applauds President Yoon's speech to US Congress

Hyundai Motor Group Executive Chair Chung Euisun, front row third from left, applauds during South Korean President Yoon Suk Yeol's speech to a joint session of the U.S. Congress in commemoration of the 70th anniversary of the South Korea-U.S. alliance in Washington, D.C., Thursday (local time). Yonhap

Apr 28, 2023By Baek Byung-yeul
Hyundai Motor chief applauds President Yoon's speech to US Congress
Companies

Samsung's chip business posts $3.4 bil. loss for Q1

Samsung Electronics' chip production facility in Pyeongtaek, Gyeonggi Province / Courtesy of Samsung ElectronicsCompany ups investment despite worst performanceBy Baek Byung-yeulSamsung Electronics' semiconductor business posted an operating loss of 4.58 trillion won ($3.4 billion) in the first quarter due to the prolonged downturn of the global chip industry, the chip giant said, Thursday. Despite suffering slumping demand and price declines, the company expects its business will rebound in the second half of the year as it has reduced output and customers' chip inventories will be normalized around that time. Samsung also stressed that even though it is down now, it is preparing for the future, investing a record 6.58 trillion won in research and development and 10.7 trillion won in facilities, the largest first-quarter injection in its history.In its first-quarter earnings announcement, Samsung said its sales came to 63.74 trillion won, down 18.1 percent from the same period in 2022, and its operating profit was at 640.2 billion won, down 95.5 percent year-on-year.This is the firs

Apr 27, 2023By Baek Byung-yeul
Samsung's chip business posts $3.4 bil. loss for Q1
Companies

Summit fails to bear fruitful results for Korean chipmakers: experts

South Korean President Yoon Suk Yeol speaks while standing alongside U.S. President Joe Biden during a press conference held after a summit at the White House in Washington, D.C., Wednesday (local time). Joint Press CorpsBy Baek Byung-yeulPresident Yoon Suk Yeol and his U.S. counterpart Joe Biden held a summit in Washington, D.C., Wednesday (local time), where U.S. laws aimed at scrapping tax credits for electric vehicles not made in North America and curbing China's power in the global IT market, were on the agenda.But Yoon failed to draw concessions from Biden on the Inflation Reduction Act (IRA) and the CHIPS and Science Act that could help Korean companies investing in the U.S., according to experts, Thursday.There have been concerns from South Korean companies over the IRA and CHIPS Act subsidy programs, which require the South's businesses to make more investments in the U.S. while keeping a distance from China.The experts pointed out that Yoon came up empty-handed when he should have been more specific about South Korea's position. The experts said they had hoped for a solutio

Apr 27, 2023By Baek Byung-yeul
Summit fails to bear fruitful results for Korean chipmakers: experts
  • Yoon asks Tesla CEO Musk to invest in Korea
  • Korea, US to nurture young STEM experts
Tech & Science

Korean astronomers help spot black hole launching jets

This image obtained by global astronomers shows the jet and the black hole shadow in Messier 87, or M87, a galaxy located about 53 million light years from Earth. A global collaboration that includes astronomers from Korea identified the shadow of the black hole and the jets ejected from it, Korea Astronomy and Space Science Institute (KASI) said Thursday, publishing the findings in the scientific journal Nature. KASI added that the joint research advances our understanding of the all-consuming black hole, a cause of various astrophysical phenomena. Courtesy of KASI, Nature 

Apr 27, 2023By Baek Byung-yeul
Korean astronomers help spot black hole launching jets
Tech & Science

SK hynix suffers $2.54 bil. loss in Q1 on memory chip bust

SK hynix's chip production facility in Icheon, Gyeonggi Province / Courtesy of SK hynixChipmaker expects conditions to improve from Q2By Baek Byung-yeulSK hynix posted an operating loss of 3.4 trillion won ($2.54 billion) in the first quarter of this year, suffering a loss for the second consecutive quarter due to deteriorating semiconductor industry conditions, the memory chipmaker said, Wednesday. However, the company added it expects global chip market conditions to recover in the second quarter after bottoming out in the first three months of this year.Also, the company aims to sell more high-capacity memory chips, targeting the growing data center server market, which has seen increasing demand for high-priced memory chips due to the popularity of generative AI services like ChatGPT.In its first quarter earnings announcement, SK hynix said sales totaled 5.08 trillion won, down 58 percent from the same period last year. The operating loss of 3.4 trillion won is the second consecutive quarterly loss, following an operating loss of 1.89 trillion won in the fourth quarter of 2022. I

Apr 26, 2023By Baek Byung-yeul
SK hynix suffers $2.54 bil. loss in Q1 on memory chip bust
previous page
127128129130131
next page

Top 5 stories

Korea Times
About Us
Introduction
History
Contact Us
Products & Services
Subscribe
E-paper
RSS Service
Content Sales
Site Map
Policy
Code of Ethics
Ombudsman
Privacy Policy
Youth Protection Policy
Terms of Service
Copyright Policy
Family Site
Hankookilbo
Dongwha Group
FacebookXYoutubeInstagram
CEO & Publisher: Oh Young-jinDigital News Email: webmaster@koreatimes.co.krTel: 02-724-2114Online newspaper registration No: 서울,아52844Date of registration: 2020.02.05Masthead: The Korea TimesCopyright © koreatimes.co.kr. All rights reserved.