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.
LG Uplus CEO Hwang Hyeon-sik, right, presents Christmas gifts to children at Youngnak Borinwon childcare center in Yongsan District, Seoul, Monday. LG Uplus said Tuesday that its employees, including the CEO, visited the childcare center wearing Santa Claus costumes to hand out gifts as part of its charity efforts. Courtesy of LG Uplus
ASM CEO Rowena Smith, right, and KSM Metals CEO Cho Sung-lea stand next to PrNd metal products used for rare earth element permanent magnet manufacturing at KSM Metals plant in Ochang, North Chungcheong Province in this photo provided by ASM. Courtesy of ASMAustralian firm processes rare earth elements here as Korea diversifies supply chainsBy Baek Byung-yeulRowena Smith, CEO of ASM / Courtesy of ASMKorea has been strengthening ties with Australia to produce rare earth elements and decrease its high dependence on China, as core minerals for high-tech industries are becoming increasingly important.Although Korea is currently dependent on China for rare earth elements, Rowena Smith, CEO of Australia-based critical metals producer ASM, said the company has been strengthening relations in order to provide a stable supply of core minerals to Korean companies.“Our engagement with the Korean industry, government and research institutions goes back many years, as we have collaborated on technology for the production of high-tech metals,” Smith told The Korea Times in a recent ema
By Baek Byung-yeulSamsung Electronics failed to narrow its gap with Taiwan's TSMC, a leader in the global foundry business, in the third quarter, according to an industry data tracker on Monday.The Korean chip giant's relentless pursuit of TSMC is expected to continue next year as the foundry industry, which manufactures chips for semiconductor design firms, is forecast to be impacted by a drop in demand for system chips and the global economic downturn.According to semiconductor industry tracker TrendForce, Samsung's sales in the foundry business in the third quarter of this year stood at $5.584 billion to account for 15.5 percent of the global market for such products. The company's market share had risen to 16.4 percent in the second quarter from 16.3 percent in the first quarter.This is the first time in two and a half years that Samsung's share of the market stood at around 15 percent since it logged 15.9 percent in the first quarter of 2020.TSMC, on the other hand, showed its overwhelming dominance again, generating sales of $20.16 billion to take a 56.1 percent share of the fo
KT CEO Ku Hyeon-mo speaks during an event that announces a digital citizenship alliance for digital safety and digital coexistence in the digital world in Seoul, Dec. 7. Courtesy of KTBy Baek Byung-yeulKT will complete its review of its CEO Ku Hyeon-mo, who expressed his intention to stay on for another term, and announce the results as early as this week, according to industry sources and a company official, Monday.A company spokesman said the mobile carrier's CEO candidate review committee is currently assessing whether Ku is eligible for a second term. His current three-year term will end in March 2023.“According to the company's articles of association, if the current CEO declares wishes to stay for a second term, the company launches its CEO candidate review committee. If the review committee decides the current CEO is suitable for another term and wins an approval from the shareholders' meeting in March next year, the current CEO will be able to stay in his position for the next three years,” the spokesman said, adding it's not decided when the review process will c
This image shows an example of the electronic voting system for homeowners, as a company that applied for the regulatory exemption was approved by the ICT Regulatory Sandbox Deliberation Committee, held by the ICT ministry and the KCCI's Sandbox Support Center, Friday. Courtesy of KCCI By Baek Byung-yeulHomeowners will be able to hold their meetings online and vote electronically whenever their association puts matters to a vote, as holding contactless meetings has been approved in a meeting of the ICT Regulatory Sandbox Deliberation Committee, held by the Korea Chamber of Commerce and Industry (KCCI) and the ICT ministry, Friday.In addition, a total of six companies that had been blocked by regulations from carrying out new business were also given the green light.Sandbox refers to a playground where children can play in a controlled and closed environment, and a regulatory sandbox is designed to give firms exemptions from rules and regulations so that they can lau
Minister for Trade Ahn Duk-geun, right, poses with U.S. Trade Representative Katherine Tai as the two had a talk on the U.S. Inflation Reduction Act in Washington, D.C., Dec. 8. Courtesy of Ministry of Trade, Industry and EnergyBy Baek Byung-yeulGovernment officials and lawmakers urged officials of the U.S. administration and Congress to support a revision to the U.S. Inflation Reduction Act (IRA), as they claimed the current bill will weaken the competiveness of Korean carmakers and electric vehicle (EV) battery makers when enacted in 2023, the trade ministry said Friday.Trade Minister Ahn Duk-geun and a group of lawmakers including Rep. Youn Kwan-suk, a lawmaker of the main opposition Democratic Party of Korea (DPK), visited Washington, D.C., this week to persuade U.S. officials in the administration and Congress to deliver opinions from the Korean government and companies that the IRA should be revised.The Ministry of Trade, Industry and Energy said the Korean delegation had meetings during their visits with key figures such as Senator Tom Carper, who chairs the Senate Committee o
Hyundai Motor Group Chairman Chung Euisun, fifth from left, and Georgia Governor Brian Kemp, fifth from right, shovel soil at a groundbreaking ceremony for the group's electric vehicle (EV) plant in Bryan County, Georgia, Oct. 25. The state government of Georgia announced Thursday that Hyundai Motor and SK On will build an EV battery plant in the state. Courtesy of Hyundai Motor GroupBy Baek Byung-yeulHyundai Motor Group (HMG) and SK Group's battery unit SK On will invest up to $5 billion in the U.S. state of Georgia to build an electric vehicle (EV) battery plant there by 2025, according to the Georgia state government, Thursday (local time). Georgia Governor Brian Kemp said the two Korean companies will build their plant in Bartow County and will supply batteries to Hyundai Motor Group's plants in the U.S., adding that the new plant is expected to create more than 3,500 jobs.“Hyundai Motor Group and SK On are valued partners and key players in our state's ever-growing automotive industry,” Kemp said.“Since day one, my administration has been focused on bringing jo
Namkoong Whon, co-head of Kakao's disaster response subcommittee, speaks during an online conference, Wednesday. Captured from eventBy Baek Byung-yeulKakao will invest more resources to enhance its data center backup system, strengthen fire extinguishing methods and introduce other measures to prevent service disruptions in case of a fire at a data center, the company said Wednesday.During an online conference, the firm said it will innovate its safety measures through the establishment of its own data center in Ansan, Gyeonggi Province, expand investments in IT engineering governance, enhance emergency response plans and disaster recovery systems and launch a new organization dedicated to managing its infrastructure.“Even now, we are trying to look back and make progress. Therefore, we will do our best to prevent such accidents in the future and we will always keep in mind that stabilizing Kakao's service is our top priority and social responsibility,” Namkoong Whon, co-head of Kakao's disaster response subcommittee, said during the conference.A fire occurred on Oct. 15
An employee poses with LG Innotek's new lenses for self-driving cars, Wednesday. Courtesy of LG InnotekBy Baek Byung-yeulLG Innotek developed two new hybrid lenses for high-performance self-driving cars that are smaller with better price competitiveness than existing products, the company said Wednesday. The company said it developed new lenses for its driver monitoring system (DMS) and advanced driver assistance system (ADAS). What distinguishes them is that the company cross-applied thin plastic and glass inside the lens, while other lenses use only glass to prevent structural deformation due to temperature or external force.In particular, the company is the first in the industry to apply plastic materials to ADAS lenses. By using plastic, the company was able to decrease the size and price of the lenses by using less glass. Given that cameras are increasingly being used inside the car, the new lenses will give carmakers more flexibility in vehicle design, according to the company. “The high-performance lenses are 20 percent to 30 percent thinner than fully glass products. As
Samsung Electronics Executive Vice President of Memory Global Sales & Marketing Han Jin-man, left, and Naver CLOVA CIC CEO Chung Suk-geun pose after agreeing to collaborate on developing AI semiconductor solutions in this photo provided by Samsung Electronics.By Baek Byung-yeulSamsung Electronics has decided to work together with Naver, the country's top internet company, in developing artificial intelligence (AI), they said Tuesday. The two companies' goal is to develop new semiconductor solutions that will lead to innovation in the emerging AI industry and further boost the country's AI capabilities to compete with global big tech firms. The two companies said they signed a memorandum of understanding (MOU) for the AI chip business and launched a task force.To develop AI semiconductor solutions, it is necessary to combine AI technology, software, related services and hardware.Through the collaboration, the two companies aim to solve bottlenecks in hyperscale AI computing systems and develop new semiconductor solutions that can maximize power efficiency, they said.“Recent