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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, Japan bolster business exchanges following Yoon-Kishida summit

Jeong Dae-jin, deputy trade minister, speaks during a meeting on trade and new industry cooperation between Korea and Japan at the COEX convention center in Seoul, Thursday. Courtesy of Ministry of Trade, Industry and Energy.By Baek Byung-yeulKorea and Japan have agreed to hold a series of meetings this year to find ways to boost economic cooperation between the two nations, according to the trade ministry and business lobby groups, Thursday.The move came as a follow-up measure to President Yoon Suk Yeol's March 16 to 17 visit to Japan where he agreed to normalize bilateral relations during a summit with Japanese Prime Minister Fumio Kishida.As part of the measures, the trade ministry said a meeting on trade and new industry cooperation was held at the COEX convention center in southern Seoul, co-hosted by the Korea International Trade Association (KITA) and the Korea-Japan Economic Association.The meeting featured over 100 officials from the governments, corporations, academic communities and economic organizations of the two countries to discuss ways to expand economic cooperation

Mar 30, 2023By Baek Byung-yeul
Korea, Japan bolster business exchanges following Yoon-Kishida summit
Companies

Samsung takes action to clean up waterways, recover marine ecosystems

Samsung Electronics employees conduct waterway cleanup activities over a 3-kilometer stretch at Woncheonri Stream, Suwon, Gyeonggi Province where the company's headquarters is located on the occasion of World Water Day, March 22. Courtesy of Samsung ElectronicsBy Baek Byung-yeulThe Samsung Electronics logo / Courtesy of Samsung ElectronicsSamsung Electronics has been making efforts to contribute to the protection of waterways and recovery of the ocean ecosystems to solve the problem of water pollution, which threatens humanity and the Earth's ecosystem, according to the company, Thursday.On the occasion of World Water Day (March 22), an annual United Nations observance day to emphasize the importance of water, employees of the company cleaned up and carried out water purification activities at Woncheonri Stream in Suwon where the company's headquarters is located.Not only employees in Suwon but also employees in Gwangju and Gumi also carried out cleanup activities at streams nearby their workplaces with local residents. Samsung said the employees meticulously dealt with large and sma

Mar 30, 2023By Baek Byung-yeul
Samsung takes action to clean up waterways, recover marine ecosystems
Companies

FKI chief to help firms expand globally

Kim Byong-joon, acting chairman of the Federation of Korean Industries (FKI), delivers a speech at the Lotte Hotel Seoul, Thursday, during a meeting between heads of diplomatic offices abroad and five business lobbies on seeking ways to help more domestic companies expand overseas. Courtesy of FKI

Mar 30, 2023By Baek Byung-yeul
FKI chief to help firms expand globally
Tech & Science

Lawmaker holds exhibition on Danuri lunar orbiter

Rep. Jo Seoung-lae of the Democratic Party of Korea and a member of the National Assembly's Science, ICT, Broadcasting, and Communications Committee, delivers a congratulatory speech at the opening ceremony of an exhibition on the Danuri lunar orbiter at the National Assembly Members' Office Building in Yeouido, Seoul, Tuesday. NewsisBy Baek Byung-yeulRep. Jo Seoung-lae of the Democratic Party of Korea hosted an exhibition shedding light on the Danuri lunar orbiter to commemorate the space vehicle's successful entry into lunar orbit, the lawmaker said Tuesday.Hosted by the lawmaker, the exhibition, titled “Special Exhibition of Lunar Exploration,” will take place at the National Assembly Members' Office Building in Yeouido, Seoul, until Saturday. The exhibition features various moon-related content, a miniature of the Danuri and photos taken by the lunar orbiter.The Danuri is a domestically developed space vehicle. Carried by SpaceX's Falcon 9 rocket, the unmanned space vehicle was launched from Cape Canaveral Space Force Station in Florida on Aug. 5.A poster for an exhib

Mar 30, 2023By Baek Byung-yeul
Lawmaker holds exhibition on Danuri lunar orbiter
Tech & Science

SK hynix promises no production cuts amid sluggish demand

Park Jung-ho, vice chairman of SK hynix, speaks during a shareholders meeting at its headquarters in Icheon, Gyeonggi Province, Wednesday. Courtesy of SK hynixBy Baek Byung-yeulSK hynix vowed that there will be no additional production cut in its memory chip business as the sluggish semiconductor market is showing signs of improvement from the second half of this year, its vice chairman said Wednesday.At the shareholders' meeting held at the company's headquarters in Icheon, Gyeonggi Province, Vice Chairman Park Jung-ho added that the company will establish a chip packaging plant in the United States, as it previously announced, as there is a growing demand for an advance chip packaging business there.In 2022, due to decreased demand for memory chips, SK hynix said that it would reduce its investment by 50 percent in 2023 compared to 2022 and reduce the production of less profitable products. However, when asked about implementing an additional production cut, Park dismissed it saying “we won't.”Park hinted at the possibility that the global chip market will improve in th

Mar 29, 2023By Baek Byung-yeul
SK hynix promises no production cuts amid sluggish demand
Tech & Science

Celltrion chairman vows to develop new drugs, initiate M&As

Seo Jung-jin, chairman of Celltrion, speaks during an online press conference, Wednesday. Courtesy of CelltrionBy Baek Byung-yeulSeo Jung-jin, founder and chairman of Celltrion, vowed to transform the biosimilar maker into a leading new drug maker and launch a series of merger and acquisition (M&A) activities to diversify its business portfolio during an online press conference, Wednesday. The chairman added that Celltrion will seek advancement into the artificial intelligence (AI) technology-based digital healthcare business to keep pace with trends in the biomedical industry that increasingly utilize emerging digital technologies.“We are a leader in biosimilars, but we will try to generate 40 percent of the company's sales from our own drugs and 60 percent from biosimilars by 2030,” the chairman said. Biosimilar drugs are biological medical products very similar to existing approved products.The chairman revealed the vision in order to achieve stable growth for the company. “Everyone thinks of Celltrion as a biosimilar company but we expect our Remsima SC drug

Mar 29, 2023By Baek Byung-yeul
Celltrion chairman vows to develop new drugs, initiate M&As
Tech & Science

SKT uses AI to manage wireless network

SK Telecom employees inspect network system equipment using the company's AI-based A-STAR, Tuesday. Courtesy of SK TelecomBy Baek Byung-yeulSK Telecom developed A-STAR, an artificial intelligence-based solution for wireless network quality management, and applied it to its network base stations nationwide as part of efforts to improve service quality by detecting abnormalities quickly, the company said Tuesday.A-STAR monitors the status of hundreds of thousands of base stations nationwide, finds equipment that is expected to cause problems affecting network quality, alerts field operation managers and, at the same time, recommends how to fix the issues, the company explained.“A-STAR preemptively responds to deterioration in wireless network quality. By doing so, the solution minimizes customer inconvenience,” the company said.SK Telecom said A-STAR analyzes the quality of base station equipment every hour and reports abnormalities to field managers, and also analyzes the cause of quality degradation by looking at an average of 250 kinds of data per equipment.During a test

Mar 28, 2023By Baek Byung-yeul
SKT uses AI to manage wireless network
Companies

KT shareholders frustrated by political influence over CEO appointment

Yun Kyung-lim, president of KT / Courtesy of KTBy Baek Byung-yeulKT's shareholders are frustrated by the future of the telecommunications company being repeatedly swayed by political influence in the process of choosing a new CEO. KT said Monday that Yun Kyung-lim, president of the company, resigned as a CEO candidate 20 days after he was officially nominated.“KT President Yun Kyung-lim decided to resign from the candidate for the next CEO and conveyed his intention to the board of directors. Yun said that it would be most desirable for a new CEO to be elected by improving the governance structure beyond the expectations of key stakeholders,” KT said in a statement. “KT will do its best to stabilize its management.”Yun, who serves as a head of KT's group transformation division, was appointed as a CEO nominee on March 7 after the current CEO Ku Hyeon-mo gave up seeking a second term. As soon as he was nominated, however, Yun has been criticized by the ruling party's lawmakers as an “avatar” of CEO Ku, who was appointed during the previous administr

Mar 27, 2023By Baek Byung-yeul
KT shareholders frustrated by political influence over CEO appointment
Companies

Samsung to make 3 new chip departments with tech universities

Park Rae-kil, acting president of the Gwangju Institute of Science and Technology, left, and Song Jae-hyuk, right, chief technology officer of Samsung Electronics, pose after agreeing to launch together a semiconductor department where graduates will be guaranteed a job with Samsung, Monday. Courtesy of Samsung ElectronicsBy Baek Byung-yeulSamsung Electronics has gone all out to foster semiconductor engineers based outside the Seoul metropolitan area in order to contribute to the development of local areas of the nation and secure quality professionals for its core business, the chip giant said Monday.Samsung said it reached agreements with three state-run science and tech universities ― the Ulsan National Institute of Science and Technology (UNIST), the Daegu Gyeongbuk Institute of Science and Technology (DGIST) and the Gwangju Institute of Science and Technology (GIST) ― to launch semiconductor departments where graduates will be guaranteed a job at Samsung.Samsung Electronics Chairman Lee Jae-yong said the decision to launch chip curriculums with local universities is intended to

Mar 27, 2023By Baek Byung-yeul
Samsung to make 3 new chip departments with tech universities
Companies

Hyundai Motor unveils facelifted Sonata

Seen is Hyundai Motor's facelifted Sonata sedan. The carmaker unveiled Monday the exterior and interior of the mid-size Sonata the Edge to emphasize the sleek design of the facelifted version. The new model will be displayed at the Seoul Mobility Show, which will take place at KINTEX convention center in Goyang, Gyeonggi Province, from March 30. Courtesy of Hyundai Motor

Mar 27, 2023By Baek Byung-yeul
Hyundai Motor unveils facelifted Sonata
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