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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

Korea to step up inspections of seafood imports ahead of Fukushima water release

An official at the National Fishery Products Quality Management Service inspects the origin of seafood products at Garak Market in southern Seoul, Jan. 11. The Ministry of Oceans and Fisheries said Wednesday that it will conduct a special inspection on the country of origin of seafood products for two months from May 1 to June 30. NewsisBy Baek Byung-yeulThe government will conduct special inspections of the country of origin of imported seafood products for two months amid mounting public concerns over the discharge of radioactive wastewater from Japan's Fukushima nuclear power plant, according to the fisheries ministry Wednesday.The Ministry of Oceans and Fisheries said it will conduct an inspection from May 1 to June 30 with the Korea Coast Guard to make sure merchants are properly labelling the origin of the imported seafood products.Until now, such inspections have been conducted mainly during periods of increased seafood consumption, such as holidays, kimchi-making season and vacation season. But the ministry said it decided to conduct the investigation this time due to Japan's

Apr 19, 2023By Baek Byung-yeul
Korea to step up inspections of seafood imports ahead of Fukushima water release
Companies

Hugel fails to get FDA approval for botulinum product

Cha Suk-yong, executive chairman of Hugel / Courtesy of HugelBy Baek Byung-yeulHugel, a local botulinum toxin (Botox or BTX) maker, is facing a setback in its attempt to enter the Botox market in the United States as the U.S. Food and Drug Administration (FDA) rejected the documents and data to license the BTX for use, according to industry officials Wednesday.The company said the FDA recently sent a complete response letter (CRL) for the Letybo BTX product, which is sold under the name Botulax in Korea, as the administration inspected Hugel's production facility and found that it needed to make improvements.A CRL letter shows the FDA's review of the data submitted by an applicant and indicates that it doesn't approve the application at present. This was the second time that Hugel's attempt to win approval for its BTX product was rejected by the FDA.Hugel had hoped to bring the BTX product to the U.S. as soon as possible after receiving a favorable review from the FDA, but has now accepted the negative outcome. The company said it will submit a biologics license application (BLA) to

Apr 19, 2023By Baek Byung-yeul
Hugel fails to get FDA approval for botulinum product
Tech & Science

Korean IT companies throw spotlight on AI, robotics at World IT Show

Visitors are seen at the World IT Show held at the COEX convention center in Seoul, Wednesday. YonhapLocal tech show features 447 firms to introduce IT trendsBy Baek Byung-yeulSamsung Electronics, LG Electronics, SK Telecom, KT and other Korean IT companies are exhibiting their new technologies and products focusing on emerging technologies such as artificial intelligence (AI), extended reality (XR), robotics and gadget connectivity at this year's World IT Show (WIS), according to the companies, Wednesday.Hosted by the Ministry of Science and ICT, the WIS is the country's largest IT show, shedding light on the nation's IT industry. This year's WIS tech exhibition takes place for three days from Wednesday to Friday, at the COEX convention center in southern Seoul.The WIS features 447 companies from nine countries, dealing with the latest digital technologies such as AI-related products, internet of things (IoT), metaverse-related technologies such as virtual reality (VR), augmented reality (AR) and XR, mobility, robots, blockchain and digital healthcare.A spokesman of the event organi

Apr 19, 2023By Baek Byung-yeul
Korean IT companies throw spotlight on AI, robotics at World IT Show
Companies

Hyundai Motor Group faces uphill battle in US EV market

Hyundai Motor's IONIQ 5 electric car / Courtesy of Hyundai MotorKorean auto giant not eligible for $7,500 tax creditBy Baek Byung-yeulHyundai Motor Group is facing an uphill battle in the U.S. market for electric vehicles (EV), because its car brands ― Hyundai Motor, Kia and Genesis ― were not included on a list of EVs eligible for up to $7,500 in subsidies granted by the U.S. Inflation Reduction Act (IRA), according to industry officials, Tuesday.Previously, EVs could qualify for the tax credit as long as they were assembled in North America, but they had to meet stricter battery requirements.However, detailed guidance measures released last month guarantee only a $3,750 subsidy for EVs that use at least 50 percent of battery components manufactured and assembled in North America, even if the vehicles were assembled in the region. Another $3,750 is available when at least 40 percent of key minerals used in the batteries are mined and processed in the U.S. or its free trade agreement partners.Under the detailed guidelines of the IRA, EVs manufactured by Hyundai did not make the list.

Apr 18, 2023By Baek Byung-yeul
Hyundai Motor Group faces uphill battle in US EV market
Companies

Hyundai Motor extends world archery sponsorship until 2025

An archer shoots an arrow during a competition sponsored by Hyundai Motor. The carmaker said Monday that it agreed to extend its sponsorship for the World Archery Federation until 2025. Courtesy of Hyundai MotorBy Baek Byung-yeulHyundai Motor said Monday that it agreed to extend a sponsorship for the World Archery Federation until 2025 as part of its efforts to foster the development of the sport.The company said it signed a three-year sponsorship renewal contract in February with the World Archery Federation. Under the contract, the sponsorship will continue until 2025.Hyundai Motor has been sponsoring the federation since 2016. With the contract, the company will sponsor the organization for 10 years.The World Archery Federation is an international organization that supervises archery competitions around the Archery World Cup every year and the World Archery Championships every two years. As the carmaker became a title sponsor, the two events will be titled Hyundai Archery World Cup and Hyundai World Archery Championships.On April 18, the 2023 Hyundai Archery World Cup will be held

Apr 17, 2023By Baek Byung-yeul
Hyundai Motor extends world archery sponsorship until 2025
Tech & Science

Hyundai Mobis develops rollable display for cars

This photo shows a rollable display developed by Hyundai Mobis rolling up from its base housing. Courtesy of Hyundai MobisBy Baek Byung-yeulHyundai Mobis succeeded in developing the world's first in-vehicle rollable display, creating more space inside automobiles, the company said, Monday.Hyundai Motor Group's automobile parts affiliate said its new display features a screen that rolls up and down when displaying driving information.“The screen disappears when the car is turned off. When driving, users can roll the screen up just one-third of the way with only the minimum driving information required. The display is scaled up to two-thirds when using navigation,” the company said.This is the first time that a rollable display for cars has been developed; the displays are already employed in smartphones and TVs. The rollable display will be situated where navigation systems are typically installed. Due to its flexible design, the display gives carmakers more room to come up with creative interior design concepts.With the advanced display, Hyundai Mobis aims to win orders f

Apr 17, 2023By Baek Byung-yeul
Hyundai Mobis develops rollable display for cars
Tech & Science

Legal setbacks, launch of union hamper Google's growth prospects in Korea

Google Korea's office in Seoul / Courtesy of Google KoreaBy Baek Byung-yeulGoogle is feared to lose its growth momentum in Korea, as the U.S. tech giant has been facing increasingly unfavorable business conditions due to a series of legal setbacks coupled with the unionization of its workers, according to industry officials Friday.A top court ruled recently that the company was negligent in protecting Korean user data and the antitrust agency fined it for obstructing the entry of competitors by abusing its dominant market position. Also, Google Korea employees established a union on April 11 to counter the firm's move to downsize the workforce.“Google has been facing regulatory measures for abusing its dominant position here. Given domestic IT service providers have been pressured to comply with the government's regulations more strictly that overseas companies, these measures showed that Google needs to pay more attention to local law,” an official from a local app developer said on condition of anonymity.On Thursday, the Supreme Court ruled that Google has an obligation

Apr 14, 2023By Baek Byung-yeul
Legal setbacks, launch of union hamper Google's growth prospects in Korea
Tech & Science

Korean think tank voices concerns over US government's access to Samsung's trade secrets

U.S. Secretary of Commerce Gina Raimondo listens during a virtual meeting with Deputy Secretary of Defense Kathleen Hicks, CEO's and labor leaders called to discuss the importance of passing the Chips Act to bolster America's competitive edge at the White House, July 25, 2022. UPI-YonhapBy Baek Byung-yeulSamsung Electronics and other chip companies preparing to launch their manufacturing sites in the United States are increasingly concerned about potential negative impacts on national security due to the excessive subsidy application requirements of the CHIPS and Science Act announced by the U.S. government, including the potential risk of technology leaks, according to a think tank here, Friday.The Korea Economic Research Institute (KERI), a research center under the Federation of Korean Industries (FKI), pointed out four major issues with the subsidy requirements of the CHIPS Act, recently announced by the U.S. Department of Commerce, which could hinder the plans of the chip companies to build chip-making factories there.The four issues are: allowing access to chip facilities in th

Apr 14, 2023By Baek Byung-yeul
Korean think tank voices concerns over US government's access to Samsung's trade secrets
Companies

BMW Korea tripled dividend payouts in 2022

Seen is a BMW 7 Series sedan. Korea Times photo by Kim Hyung-joon By Baek Byung-yeulBMW Korea was found to have sent over 1.5 times its operating profit to its German headquarters last year as it achieved its highest-ever sales in the country, according to government data, Thursday.There is no legal issue with sending dividends to overseas headquarters. However, industry officials said that sending a significant amount of dividends to its overseas headquarters ― despite earning high profits in the Korean market ― reflects a low commitment to the development of the country's automotive industry.“It is unfortunate that the profits earned in the Korean market are being sent to their overseas headquarters,” an official in the local automotive industry said on condition of anonymity.“Expanding dividends sent to overseas headquarters, instead of reinvesting profits earned here in the development of

Apr 13, 2023By Baek Byung-yeul
BMW Korea tripled dividend payouts in 2022
Companies

Samsung to foster manufacturing startups in North Gyeongsang Province

Seen is a C-Lab Outside office space created by Samsung Electronics to support startups in North Gyeongsang Province. Samsung opened the office space at Yeungnam University in the North Gyeongsang provincial city of Gyeongsan, Thursday. Courtesy of Samsung ElectronicsBy Baek Byung-yeulSamsung Electronics is making efforts to foster startups related to manufacturing businesses in North Gyeongsang Province as part of its aim to improve diversity in the country's startup ecosystem, away from the concentration in the Seoul capital area, the company said Thursday.Samsung said it launched C-Lab Outside program inside Yeungnam University located in the North Gyeongsang provincial city of Gyeongsan to assist local startups in developing their businesses.The Gyeongsan startup support program is jointly launched by Samsung and North Gyeongsang provincial government.“Following Daegu in February and Gwangju in March, Samsung Electronics is accelerating the expansion of the startup ecosystem in the local area by introducing a series of C-Lab Outside programs. Through these efforts, the prog

Apr 13, 2023By Baek Byung-yeul
Samsung to foster manufacturing startups in North Gyeongsang Province
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