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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

Stronger chip alliance needed to bolster Korea-US ties

Experts urge US gov't to mend IRA to offer Korean firms more benefits By Baek Byung-yeulSouth Korea should deepen its security alliance with the United States by intensifying economic cooperation, as Washington seeks to expand investments in its manufacturing industry to strengthen economic supremacy over China, according to scholars and analysts from South Korea and the U.S. This year marks the 70th anniversary of the South Korea-U.S. alliance. The two nations signed the Mutual Defense Treaty on Oct. 1, 1953.Over the past seven decades, the U.S. has shielded South Korea from North Korea, which has helped the South achieve extraordinary growth in many sectors, ranging from heavy industries including carmaking, steel and shipbuilding to high-tech and emerging industries such as semiconductors and electric vehicle (EV) batteries, the experts said.They added the remarkable growth of South Korea's industries is also of great help to the U.S. as it tries to stand stronger against China. Over the past few years, Wa

Jan 23, 2023By Baek Byung-yeul
Stronger chip alliance needed to bolster Korea-US ties
Companies

SK chief discusses economic collaboration with global leaders at Davos

SK Group Chairman Chey Tae-won, left, poses with Serbian President Aleksandar Vucic in Davos, Switzerland, Jan 18, after discussing economic cooperation and asking for support for Busan's bid to host the World Expo 2030. Courtesy of SK Group Chey promotes Busan's Expo bid in ParisBy Baek Byung-yeulSK Group Chairman Chey Tae-won discussed economic coordination with leaders of foreign countries in Davos, Switzerland, where the World Economic Forum (WEF) was held, according to the group, Friday.The group added that Chey, who is also chairman of the Korea Chamber of Commerce and Industry (KCCI) and co-chair of the Bid Committee for World Expo 2030 Busan, is scheduled to have a dinner with around 10 ambassadors representing member nations of the Bureau International des Expositions (BIE) in Paris, the same day (France time).During the WEF, Chey met with Serbian President Aleksandar Vucic on Jan. 18 to share opinions on economic teamwork between Korea and the European cou

Jan 20, 2023By Baek Byung-yeul
SK chief discusses economic collaboration with global leaders at Davos
Companies

SK Bioscience recruits experts for global expansion

Richard Kensinger, left, vice president of R&D project management at SK Bioscience USA, and Kenneth Lee, vice president of biologic business development at SK Bioscience / Courtesy of SK Bioscience By Baek Byung-yeulSK Bioscience, developer of SKYCovione, Korea's first COVID-19 vaccine, has recruited renowned executives who have worked for global biopharmaceutical companies as part of its efforts to advance into the global market and diversify, according to the company, Friday. The company said it appointed Richard Kensinger as vice president of R&D project management at its U.S. branch, SK Bioscience USA.Kensinger has over 20 years of experience in the global bio industry, having served as a global bioprocess expert at global healthcare company Sanofi Pasteur. He also worked as an executive director of process development and protein sciences at Affinivax, which was acquired recently by GSK.He will be in charge of managing SK's global R&D projects and seeking joint

Jan 20, 2023By Baek Byung-yeul
SK Bioscience recruits experts for global expansion
Travel & Food

Korean Air to resume 4 European routes by end of April

An airplane of Korean Air / Courtesy of Korean AirBy Baek Byung-yeulKorean Air will resume routes to four European cities including Prague and Madrid from between March and April so as to meet Korean tourists' reviving desire to travel, the air carrier said Friday. The company said it will begin operating the Incheon-Prague and the Incheon-Zurich routes from the end of March, followed by the resumption of the Istanbul and the Madrid routes at the end of April. These routes were suspended in March 2020 due to the outbreak of COVID-19.“Starting from March 27, the airline will resume its operations to Prague three times a week on Mondays, Wednesdays and Fridays. The flights will depart from Incheon at 12:45 p.m. and arrive in Prague at 4:55 p.m. The returning flights will depart from Prague at 6:50 p.m. and arrive in Incheon at 11:50 a.m. on the following day,” Korean Air said adding that the Zurich route will be resumed from March 28.The country's leading air carrier will also resume flights to Istanbul from April 24 while the Incheon-Madrid routes will resume from April 25

Jan 20, 2023By Baek Byung-yeul
Korean Air to resume 4 European routes by end of April
Companies

Korean startup incubator eyes Middle East market

N15 Partners founder and CEO Huh Jea, left, poses with Trade, Industry and Energy Minister Lee Chang-yang, second from left, and Tarek Fouad, second from right, head of growth at UAE-based Shorooq Partners, after signing a memorandum of understanding on nurturing startups in Korea and the UAE, at the Rixos Marina Abu Dhabi hotel, Jan. 16. Courtesy of N15 PartnersBy Baek Byung-yeulHuh Jea, founder and CEO of local startup incubating company N15 Partners, said Thursday that the company is seeking to support Korean startups to advance into the Middle East market. Huh was included in an economic delegation led by President Yoon Suk Yeol, who made a state visit to the United Arab Emirates (UAE) earlier this week.As part of economic cooperation efforts between Korea and the Middle Eastern country, N15 Partners signed a memorandum of understanding (MOU) with the UAE-based startup accelerator Shorooq Partners.“Shorooq Partners, which does business in the Middle East market in the UAE, Saudi Arabia, Bahrain, Qatar and Egypt, plans to jointly discover, foster and invest in startups in th

Jan 19, 2023By Baek Byung-yeul
Korean startup incubator eyes Middle East market
Foreign Affairs

President Yoon with Dubai ruler

President Yoon Suk Yeol, center, and first lady Kim Keon Hee, left, pose with Sheikh Mohammed bin Rashid Al Maktoum, the ruler of Dubai and vice president, prime minister and minister of defense of the United Arab Emirates, at Zabeel Palace in Dubai, Tuesday. The presidential office said Yoon and the Dubai ruler discussed ways to cooperate in space, digital and eco-friendly technologies. Newsis

Jan 17, 2023By Baek Byung-yeul
President Yoon with Dubai ruler
  • Yoon's UAE trip raises hopes for policies related to hydrogen economy
  • First lady discusses cultural exchanges with UAE counterpart
Companies

Hannover Messe fair to focus on digitization, sustainability

Basilios Triantafillos, global director of Deutsche Messe AG, speaks during a press conference at the Plaza Seoul hotel in central Seoul, Tuesday. Korea Times photo by Baek Byung-yeulBy Baek Byung-yeulThe Hannover Messe 2023, an annual manufacturing industry-focused trade fair, will focus on technologies for digitization and sustainability and highlight efforts to tackle climate change and global supply chain disruptions, an official from the German event organizer said Tuesday. “The Hannover Messe is a worldwide leading fair. Digitization and sustainability are the main drivers and topics of this year's fair,” Basilios Triantafillos, global director of Deutsche Messe AG, told reporters during a press conference in Seoul.This year's event will be held in Hannover from April 17 to 21. The event organizer expects over 100,000 visitors and 4,000 exhibitors will participate in order to explore how to reduce their energy use and achieve digitization to produce products more efficiently.“Digitization and sustainability are the main drivers for each company,” the dir

Jan 17, 2023By Baek Byung-yeul
Hannover Messe fair to focus on digitization, sustainability
Companies

Korean, UAE firms sign $6.1 bil. worth of deals in energy, defense and mobility businesses

President Yoon Suk Yeol delivers a keynote speech at the Korea-UAE Business Forum held at the Rixos Marina Abu Dhabi hotel, Monday. YonhapBy Baek Byung-yeulKorea and the United Arab Emirates (UAE) signed a total of 24 agreements worth $6.1 billion in traditional industries, such as energy and defense, as well as emerging businesses, including hydrogen, mobility, bio and digital transformation, according to the Ministry of Trade, Industry and Energy, Monday.The ministry said about 320 officials from business lobby groups, Samsung Electronics, Hyundai Motor Group and other Korean companies, who accompanied President Yoon Suk Yeol's state visit to the Middle Eastern country, held the Korea-UAE Business Forum at the Rixos Marina Abu Dhabi hotel.“Since the COVID-19 pandemic, this is Korea's first large-scale economic event that has been accompanied by a large private economic delegation on the occasion of a summit tour,” the ministry said.“In order to respond to recent changes in the global environment, companies in Korea and the UAE discovered new cooperative projects a

Jan 16, 2023By Baek Byung-yeul
Korean, UAE firms sign $6.1 bil. worth of deals in energy, defense and mobility businesses
  • Yoon reveals hopes for another nuclear project with UAE
Companies

Korea cannot build own global supply chains like US, China, EU: trade minister

Trade Minister Ahn Duk-geun speaks with reporters at the Ronald Reagan Washington National Airport in Washington, D.C., Dec. 4. YonhapBy Baek Byung-yeulKorea should diversify its export destinations for more sustainable economic growth, Trade Minister Ahn Duk-geun said Monday, adding that the country is heavily dependent on exports at a time when large economic regions such as the United States, China and Europe are using on-shoring strategies to add value their own economies.“The problem is that the biggest topical question so far is the answer to what Korea will do when the world becomes more protectionist, for example, the U.S., the EU and China separate their respective supply chains. What will Korea do? What is Korea's strategy?” Ahn said during a meeting with reporters in Sejong City.Arguing that Korea's economic structure is not able to take steps similar to those of economic powerhouses, Ahn said, “The key point of Korea's trade policy is to eventually diversify its supply chain around the world so that Korean companies can use the global platform well and m

Jan 16, 2023By Baek Byung-yeul
Korea cannot build own global supply chains like US, China, EU: trade minister
Companies

LG Chem CEO to lead chemical consultative body at Davos

Shin Hak-cheol, second from right, vice chairman and CEO of LG Chem, speaks at the 2022 World Economic Forum in Davos, Switzerland. Shin will also take part in the 2023 event, which will be held from Jan. 16 to 20. Courtesy of LG ChemBy Baek Byung-yeulShin Hak-cheol, vice chairman and CEO of LG Chem, has been elected chair of an industrial consultative body at the World Economic Forum (WEF) in Davos, Switzerland, the chemical arm of LG Group said Sunday. The company said Shin now heads the WEF's Chemical & Advanced Materials Industry Governors for the next two years until 2024. The body is comprised of CEOs from around 30 global leading companies, such as BASF and Solvay.LG Chem noted that this is the first time for a Korean entrepreneur to chair the consultative body, adding that his appointment shows the increased status of Korean industry in the global chemical and material market.“As the chair of the body, Shin will demonstrate his leadership in the field, discussing major issues in the global chemical industry such as weakening global supply chains and tackling climate

Jan 15, 2023By Baek Byung-yeul
LG Chem CEO to lead chemical consultative body at Davos
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