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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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Tech & Science

Maum AI vows to expand business with language model

Yoo Tae-joon, left, CEO of Maum AI, speaks during a company event at the AT Center in Seoul, Wednesday. Korea Times photo by Baek Byung-yeul By Baek Byung-yeulMaum AI, which recently changed its company name from Minds Lab, aims to expand its artificial intelligence (AI) business in Korea utilizing its large language model similar to that of ChatGPT, Yoo Tae-joon, CEO of Maum AI said during a conference in Seoul, Wednesday.The event was to introduce its vision and service platform to investors, researchers, the press and the public. “This move aims for the company to leap forward as an AI platform company,” Yoo said.The company said it provides three AI services: an AI engine-based learning service, inference services through AI models and what the company calls “AI humans,” a chatbot service that can communicate smoothly with customers.By providing AI services that have learned about specialized fields, customers in various sectors can create new AI services by com

Apr 5, 2023By Baek Byung-yeul
Maum AI vows to expand business with language model
Companies

HLB Cell produces extracellular matrix Hutrigel

HLB Cell's extracellular matrix Hutrigel / Courtesy of HLB CellBy Baek Byung-yeulHLB Cell, a subsidy of HLB Life Science, succeeded in producing an extracellular matrix that is rich in human basement membrane through a normal cell culture procedure, the cell therapy drug developer said Wednesday.The company said it will release the organoid biomaterial called Hutrigel, which is based on normal human cells, in the second quarter of the year.Organoids are specific cell aggregates derived from human stem cells and organ-origin cells. They are gaining attention as a technology can replace animal experimentation, as the United States will no longer require animal tests before new medicine drug development processes for humans.They are also highly regarded as a regenerative therapy treatment, which can restore damaged tissues. Given HLB Cell's Hutrigel is manufactured by cultivating normal human cells, the company said the product has advantages compared to existing products that are made from substances separated after growing tumor tissues transplanted from mice.HLB Cell announced the re

Apr 5, 2023By Baek Byung-yeul
HLB Cell produces extracellular matrix Hutrigel
Companies

LG Energy Solution to source lithium from US FTA partner Morocco

LG Energy Solution's Ochang Energy Plant in Cheongju, North Chungcheong Province / Courtesy of LG Energy SolutionBy Baek Byung-yeulLG Energy Solution is diversifying its supply for a material that is essential for electric vehicle (EV) batteries. The battery cell maker is seeking to source lithium hydroxide from Morocco, which has secured free trade agreements (FTAs) with the United States and the European Union, according to the company, Wednesday.LG said it signed a memorandum of understanding with Yahua, a leading lithium compounds maker in China, to receive lithium hydroxide from the African country.Given Morocco is an FTA partner with the U.S. and the EU, LG expects that it will be able to strengthen its supply chain for lithium hydroxide, an essential material for cathodes.The company also aims to respond more flexibly to the moves of the U.S. and the EU, which are trying to strengthen trade protectionism by creating the Inflation Reduction Act and the Critical Raw Materials Act, respectively.Lithium hydroxide can be easily synthesized with nickel, a core material for cathodes,

Apr 5, 2023By Baek Byung-yeul
LG Energy Solution to source lithium from US FTA partner Morocco
Tech & Science

SK hynix issues $1.7 bil. exchangeable bond to fund operations

SK hynix's plant in Icheon, Gyeonggi Province / Courtesy of SK hynixBy Baek Byung-yeulSK hynix, the world's second-largest memory chip producer, has issued exchangeable bonds to secure $1.7 billion in liquidity for the operation of its semiconductor-manufacturing business which has experienced difficulties due to sluggish chip demand, the memory chip maker said Tuesday.In a regulatory filing to the Financial Supervisory Service, SK hynix said it will issue $1.7 billion in overseas exchangeable bonds to secure operating funds. Exchangeable bonds are bonds that include the right for investors to exchange them for shares of another company held by the issuing company after a certain period of time.The bonds will be exchangeable for 20,126,911 shares held by SK hynix, which accounts for 2.8 percent of the total issued shares. The maturity date for the bonds is April 2030.The industry view was that SK hynix would secure liquidity through capital increases by issuing new shares to smoothen the operation of its business that has faced a steep downturn. But the company opted for the issuance

Apr 4, 2023By Baek Byung-yeul
SK hynix issues $1.7 bil. exchangeable bond to fund operations
Tech & Science

Apple's expansion in Korea puts Samsung on alert

Pedestrians pass Apple Gangnam, one of the company's retail stores in southern Seoul, March 29. Apple officially opened its fifth store in the capital on March 31. YonhapBy Baek Byung-yeulApple opened its Apple Gangnam retail store near Sinnonhyeon Station in the southern Seoul on March 31, only a 15-minute walk from Samsung Electronics' Seocho headquarters. This may be seen as Apple's attempt to strengthen its presence in the country's capital, which has a high demand for premium products, according to industry officials Tuesday.“The bustling Gangnam Station area, popular with business people and young people, lacked an Apple Store, but now one has finally opened. This move can be interpreted as an attempt to appeal more to customers who prefer high-priced gadgets,” an official in the country's IT industry said on condition of anonymity. “It could be a noteworthy signal to Samsung which also aims to appeal more to the younger generation.”Apple Gangnam is Apple's fifth retail store in Seoul. The company is forecast to open its sixth retail store near Hongik Un

Apr 4, 2023By Baek Byung-yeul
Apple's expansion in Korea puts Samsung on alert
Tech & Science

Innospace requests more gov't support for space business

Science and ICT Minister Lee Jong-ho, left, speaks with Innospace CEO Kim Soo-jong at the ministry's office in Sejong, Monday. Courtesy of Ministry of Science and ICTBy Baek Byung-yeulInnospace, a local space startup, asked the government to offer more support for the country's space industry, such as fostering experts and strengthening support for private companies, the science minister said Monday. Kim Soo-jong, CEO of Innospace had a meeting with Lee Jong-ho, minister of Science and ICT, at the ministry's office in Sejong.The science ministry said the meeting was intended to celebrate Innospace's successful test launch of its HANBIT-TLV hybrid rocket in Brazil last month, which led it to become the first private firm in Korea to succeed in a test-launch of its space launch vehicle. “Established in 2017, Innospace is a company specializing in space launch vehicles. The meeting was organized to encourage the success of Korea's first commercial small-sized space launch vehicle test in Brazil on March 1,” the ministry said.Its HANBIT-TLV is a single-stage test launch vehic

Apr 3, 2023By Baek Byung-yeul
Innospace requests more gov't support for space business
Tech & Science

Korean companies scramble to issue guidelines for ChatGPT over data leak fears

People try the ChatGPT generative AI service during an open discussion session held at Government Complex Sejong, Feb. 13. YonhapBy Baek Byung-yeulSamsung, SK, LG, POSCO and other companies here are scrambling to make their own guidelines for using ChatGPT and other chatbot artificial intelligence (AI) services in order to prevent problems caused by the misuse of these programs, such as information leaks, according to companies and experts, Monday.Citing examples of overseas companies that are blocking the use of ChatGPT in their workplaces due to concerns about mishandling confidential information, companies here are also conducting campaign activities, informing their employees of the risks that may occur when they misuse these programs.ChatGPT is a generative AI service of the U.S. company OpenAI. After its 3.5 version was unveiled in November, many people have been using the innovative technology just for fun or to ask for help in various fields including computer software programming, translation and web searches.Samsung Electronics recently announced a message on its in-company

Apr 3, 2023By Baek Byung-yeul
Korean companies scramble to issue guidelines for ChatGPT over data leak fears
Companies

Korean battery firms to benefit from US IRA guidance

Seen is Hyundai Motor's factory in Indonesia, March 20. Next door, a battery cell plant of HLI Green Power, a joint venture between Hyundai Motor and LG Energy Solution, is being constructed. YonhapBy Baek Byung-yeulLG Energy Solution, Samsung SDI, SK On and other Korean companies in the electric vehicle (EV) battery industry are cleared to continue their expansion in the United States, as Washington decided to grant tax incentives when battery materials are processed in Korea, according to industry officials and the government, Sunday.On Friday, the U.S. Treasury Department issued the Notice of Proposed Rule-Making guidance of the Inflation Reduction Act (IRA), which took effect last August.According to the detailed guidance, key battery materials such as cathodes and anodes are excluded from the list of battery components, which means battery materials processed in Korea are eligible for tax credits even if the processed minerals are sourced from countries that have not signed free trade agreements (FTAs) with the U.S. The guidance will be effective from April 18.The announcement e

Apr 2, 2023By Baek Byung-yeul
Korean battery firms to benefit from US IRA guidance
Others

Korea ready to greet BIE inspection team

Prime Minister Han Duck-soo, third from left, and other officials hold LED lights during a lightning ceremony at Gwanghwamun Square in downtown Seoul, Thursday, to wish for Busan to win its bid to host the World Expo 2030. YonhapBy Baek Byung-yeulThe government, politicians, companies and citizens of the nation are ready to greet an on-site inspection team of the Bureau International des Expositions (BIE), who will visit Korea from April 2 to 7 to evaluate Busan's readiness and suitability to host the World Expo 2030, they said Friday.Eight representatives of the BIE, an organization in charge of overseeing World Expos, will visit the country. For the first two days from April 2 to 3, they will meet with President Yoon Suk Yeol and high-ranking officials, and from April 4 to 7 they will stay in Busan to check the preparedness for the event.Busan is currently competing to host the 2030 event with Riyadh of Saudi Arabia, Rome of Italy and Odesa of Ukraine. The inspection team completed its inspection of Riyadh in early March. The inspection for Odesa was replaced with a presentation at

Mar 31, 2023By Baek Byung-yeul
Korea ready to greet BIE inspection team
Companies

KT vows to improve governance amid political influence controversy

Shareholders of KT verify their identification before entering the shareholders meeting venue at the company's office in Seocho District, Seoul, Friday. YonhapCompany expects it will take at least five months to choose new CEOBy Baek Byung-yeulKT vowed Friday to normalize its management quickly by improving its governance structure, as concerns are mounting over its future after failing to select a new company CEO, due largely to the government and ruling party officials' political interference. After its CEO Ku Hyeon-mo resigned from his post on March 28, Park Jong-ook, the president and head of the company's Corporate Planning Group, was appointed as interim CEO in accordance with the company's organizational regulations.“As the saying goes, 'the ground hardens after the rain,' we will try to overcome the current crisis and take another leap forward,” Park said during a shareholders meeting in Seoul.He admitted there had been “issues in the process of appointing the company's next CEO,” and said “it will take around five months to appoint a new CEO. We

Mar 31, 2023By Baek Byung-yeul
KT vows to improve governance amid political influence controversy
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