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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

Samsung chief inspects production plants in China for first time in 3 years

Lee Jae-yong, chairman of Samsung Electronics, takes a look at products at Samsung Electro-Mechanics' MLCC plant in Tianjin, China, Friday. Courtesy of Samsung ElectronicsBy Baek Byung-yeulLee Jae-yong, chairman of Samsung Electronics, visited China for the first time in three years to inspect Samsung Electro-Mechanics' multi-layer ceramic capacitor (MLCC) plant at a time when demand for the key component of electric vehicles (EV) is increasing, the company said Sunday.His visit drew particular attention as it came amid the U.S. government's intensifying efforts to curb the growth of China's chip industry by regulating semiconductor production by non-Chinese firms there.The Korean tech giant said Lee visited the northeastern Chinese city of Tianjin on Friday where Samsung Electro-Mechanics' plant is located to check how the business is performing and meet with Samsung Group employees working in the region.The Tianjin factory, which began operations in 2021, is one of the major production bases that supply MLCCs used in IT devices and cars, along with the company's Busan factory.An ML

Mar 26, 2023By Baek Byung-yeul
Samsung chief inspects production plants in China for first time in 3 years
Others

Hyundai Motor Group, Busan citizens launch all-out campaign for World Expo 2030

Seen is a captured image from a campaign video, produced by Hyundai Motor Group promoting Busan's bid to host World Expo 2030. Courtesy of Hyundai Motor GroupBy Baek Byung-yeulHyundai Motor Group and residents of Busan have launched an all-out campaign to promote the city's bid to host World Expo 2030 as the automotive giant unveiled a promotional video showing Busan citizens introducing the southern port city's unique qualities in 15 different languages, Sunday.The automotive giant released a video titled “Busan Citizens Invite You All,” which introduces Busan's strong will and capabilities to host the international event ― in the languages of the 15 member countries of the Bureau International des Expositions (BIE).The BIE is an intergovernmental organization in charge of overseeing and regulating the World Expo event, which is held every five years. Hyundai Motor Group also unveiled 16 one-minute short-form videos produced only in each member country's language so as to attract votes from the BIE member countries.“We made these videos that show Busan citizens pro

Mar 26, 2023By Baek Byung-yeul
Hyundai Motor Group, Busan citizens launch all-out campaign for World Expo 2030
  • Busan aims to win hearts of developing nations in Expo 2030 bid
Tech & Science

Workday aims to assist hums with AI, machine learning, not replace it

Damian Leach, chief technology officer of Workday Asia Pacific and Japan, speaks during a press conference at the Grand InterContinental Seoul Parnas hotel in Seoul, Thursday. Korea Times photo by Baek Byung-yeulBy Baek Byung-yeulWorkday aims to augment human intelligence with artificial intelligence (AI) and machine learning (ML), instead of replacing people, as the U.S.-based human resources and finance management software maker thinks the emerging technologies need to be human-centric and trustworthy, the chief technology officer of the company's Asia Pacific and Japan region said, Thursday. “What's really important in terms of our philosophy with AI and machine learning, is that we still put humans in the loop in terms of what we do. Humans need to still make the decisions at the right time and the right place. And with the right context,” Damian Leach, CTO of Workday Asia Pacific and Japan, said during a press conference in Seoul.“This is really important at Workday. We believe we need to empower human decision-making through AI and machine learning. The purpos

Mar 23, 2023By Baek Byung-yeul
Workday aims to assist hums with AI, machine learning, not replace it
Companies

HLB's US subsidiary promotes efficacy of liver cancer drug Rivoceranib

Jang Seong-hoon, chief operating officer of Elevar Therapeutics, explains the efficacy and safety of Rivoceranib during a symposium hosted by the Ministry of Food and Drug Safety and the Korea American Society in Biotech and Pharmaceuticals, in Washington, D.C., Tuesday (local time). Courtesy of HLBBy Baek Byung-yeulHLB, a global biopharmaceuticals company, said Thursday that its U.S. subsidiary Elevar Therapeutics announced the efficacy and safety of the Rivoceranib liver cancer drug at a biopharmaceutical symposium in Washington, D.C. This comes as part of the Korean biotech company's efforts to promote the drug ahead of applying for new drug application (NDA) with the U.S. Food and Drug Administration.Executives of Elevar participated in the symposium, Tuesday, co-hosted by Korea's Ministry of Food and Drug Safety and the Korea American Society in Biotech and Pharmaceuticals (KASBP). The event featured Oh Yu-kyoung, minister of food and drug safety, and Seungwon Chung, president of the KASBP.Rivoceranib is a cancer drug that holds global patents by HLB. HLB Life Science, a subsidi

Mar 23, 2023By Baek Byung-yeul
HLB's US subsidiary promotes efficacy of liver cancer drug Rivoceranib
Politics

Samsung, SK avoid worst-case scenario as US 'guardrails' are less stringent than feared

Samsung Electronics' memory chip plant in Xi'an, China / Courtesy of Samsung ElectronicsBy Baek Byung-yeulSamsung Electronics and SK hynix have avoided the worst-case outcome from the U.S. CHIPS Act ― which embodies Washington's attempt to limit Beijing's chip technology development ― because details of the regulation did not specify the banning of increases in output through technological upgrades at their chip factories in China, industry officials said Wednesday.The U.S. Department of Commerce announced on Tuesday (U.S. time) details of the proposed “guardrails” for the CHIPS for America Incentives Program, which involves $52 billion in funding.Under the new restrictions, chip companies that receive subsidies in the U.S. are banned from expanding semiconductor production by more than 5 percent for advanced chips and 10 percent for older technology in China for 10 years after receiving the benefits.However, expanding the amount of semiconductor production per wafer was not included in the defined expansion of production capacity, giving Korean chip makers a breather. A

Mar 22, 2023By Baek Byung-yeul
Samsung, SK avoid worst-case scenario as US 'guardrails' are less stringent than feared
Companies

Spain's Smart City Expo to feature Korea's smart cities

Ugo Valenti, director of the Smart City Expo World Congress, speaks during a press conference at the Plaza Seoul hotel, Wednesday. Korea Times photo by Baek Byung-yeulBy Baek Byung-yeulKorea's advanced smart city technologies will be showcased at the upcoming Smart City Expo World Congress, an exhibition specialized in presenting the latest technologies and trends of smart cities, an urban system that uses information and communication technology (ICT) to improve operational efficiency, a director of the organizer said Wednesday. “We are honored and excited to be in Korea to bolster our ties with Korean institutions and companies. The Republic of Korea is undoubtedly a benchmark in smart city technology and has always spearheaded the effort to make metropolises an example of how technology can improve our lives,” Ugo Valenti, director of Smart City Expo World Congress, said during a press conference in Seoul.“Examples such as Seoul, Busan, Songdo and now Sejong are paramount examples of this, and we see great potential for collaboration in this field,” the dir

Mar 22, 2023By Baek Byung-yeul
Spain's Smart City Expo to feature Korea's smart cities
Companies

Proxy adviser opposes reappointment of HL Group chairman as director

Chung Mong-won, chairman of HL Group / Courtesy of HL GroupBy Baek Byung-yeulChung Mong-won, chairman of HL Group, has hit an obstacle because a proxy advisor here is opposed to an attempt by the construction and auto parts conglomerate to appoint him as director of the group's affiliates, explaining that there could be a conflict of interest concerning the possibility of internal transactions, according to the proxy adviser Monday.The Center for Good Corporate Governance (CGCG) has already stated its opposition to the appointment of Chung as the in-company director of HL D&I Halla, a construction arm of the group and the auto parts subsidiary, HL Mando, at their upcoming shareholders' meetings, scheduled to be held on March 23. The reasoning is that the chairman's compensation for working as a director for both affiliates is too much.“HL Group affiliates proposed a reappointment agenda for Chung, as an in-house director. Chung has served as the in-house director of HL Holdings, HL D&I and HL Klemove. He owns a 24.31 percent stake in the group's holding company, HL Hold

Mar 20, 2023By Baek Byung-yeul
Proxy adviser opposes reappointment of HL Group chairman as director
Companies

OTT service providers negatively impacted by illegal streaming website

A poster for Netflix's drama “The Glory” part 2” / Courtesy of NetflixBy Baek Byung-yeulNetflix, Wavve, Tving, Coupang Play and other over-the-top (OTT) video streaming platforms are suffering due to the illegal streaming site, Noonoo TV, as their respective paid content can be easily viewed for free with just a few clicks, presenting a big obstacle to the country's growing media industry, according to industry officials Monday.Claiming that they have lost around 4.9 trillion won ($3.7 billion) due to the illegal streaming site, streaming service providers, broadcasters and other organizations in the media industry formed an alliance and filed a criminal complaint against Noonoo TV on March 9.Upon receiving the complaint, the Busan Metropolitan Police Agency launched an investigation into the pirate streaming site.An official in the OTT industry said that they are closely communicating with broadcasters, telecommunications companies and the government to root out this illegal website. The worry is that the issue could grow to the point where it shakes the very found

Mar 20, 2023By Baek Byung-yeul
OTT service providers negatively impacted by illegal streaming website
Companies

Business leaders from Korea, Japan meet to bolster bilateral ties

President Yoon Suk Yeol delivers an opening speech during the Korea-Japan Business Round Table held at the Japan Business Federation's (Keidanren's) building in Tokyo, Friday. Federation of Korean Industries (FKI) Acting Chairman Kim Byong-joon, left, and Keidanren Chairman Masakazu Tokura, right, also attended the meeting. Yonhap Yoon calls for stronger cooperation in high-tech industriesBy Baek Byung-yeulThe business communities of Korea and Japan agreed to strengthen bilateral economic cooperation a day after President Yoon Suk Yeol and Japanese Prime Minister Fumio Kishida held a summit, Thursday, they said during their meeting in Tokyo, Friday.On the occasion of President Yoon's two-day visit to Japan, business leaders from major companies of the two countries and business lobby groups including the Federation of Korean Industries (FKI) and the Japan Business Federation (Keidanren) had a business round table meeting at Keidanren's building in Tokyo.During the m

Mar 17, 2023By Baek Byung-yeul
Business leaders from Korea, Japan meet to bolster bilateral ties
  • ANALYSIS Too early to hail success of Korea-Japan summit
  • Yoon, Kishida build mutual trust by sharing drinks after summit
  • Political divide intensifies in Korea over Yoon-Kishida summit
Companies

POSCO to relocate headquarters to Pohang

Choi Jeong-woo, chairman of POSCO Group, speaks during POSCO Holdings' shareholders' meeting in Seoul, Friday. Courtesy of POSCO HoldingsBy Baek Byung-yeulPOSCO Holdings will relocate its headquarters from Seoul to Pohang, North Gyeongsang Province. Shareholders of the steel and battery material maker approved the move on Friday. POSCO Group was largely criticized by Pohang residents for its decision to set up its headquarters in Seoul in January 2022 when it established POSCO Holdings. Pohang is the birthplace of POSCO, where its first steel mill was built in 1971.Pohang residents, politicians and civic groups raised issue with decision stating that the southeastern port city would lose competitiveness if the holding company maintained its headquarters in Seoul. Amid the objections, the company promised in February 2022 that it would relocate its headquarters to Pohang and last month, board members proposed the relocation agenda for Friday's shareholders' meeting.The Pohang City Government expressed support for the group's recent decision saying that it “welcomes the relocatio

Mar 17, 2023By Baek Byung-yeul
POSCO to relocate headquarters to Pohang
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