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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, Vietnam to bolster critical materials supply chains

Trade, Industry and Energy Minister Lee Chang-yang / Courtesy of Ministry of Trade, Industry and Energy By Baek Byung-yeulKorea and Vietnam agreed to increase cooperation in supply chains for minerals that are needed for IT devices and electric car batteries, eco-friendly renewable energy and textiles, according to the industry ministry, Monday.Korea's Ministry of Trade, Industry and Energy said its minister signed a total of three agreements with his Vietnamese counterpart during a ministerial meeting in Seoul.Korea's Trade, Industry and Energy Minister Lee Chang-yang and Vietnam's Industry and Trade Minister Nguyen Hong Dien signed the agreements following a summit between President Yoon Suk-yeol and Vietnamese President Nguyen Xuan Phuc. The Vietnamese president made a state visit to Korea at the invitation of the Korean president to commemorate the 30th anniversary of bilateral diplomatic ties.With the three agreements, Korea and Vietnam came to an understanding

Dec 5, 2022By Baek Byung-yeul
Korea, Vietnam to bolster critical materials supply chains
  • Korea, Vietnam elevate ties to comprehensive, strategic partnership
Companies

Samsung chief picks UAE as destination of 1st trip after becoming chairman

Lee Jae-yong, left, chairman of Samsung Electronics, and Sheikh Mohammed bin Sultan Al Nahyan, then crown prince of Abu Dhabi and now president of the United Arab Emirates (UAE), tour Samsung's Hwaseong campus south of Seoul, Feb. 26, 2019. Courtesy of Samsung ElectronicsBy Baek Byung-yeulLee Jae-yong, chairman of Samsung Electronics, chose the United Arab Emirates (UAE) as the destination of his first overseas business trip since becoming chairman of Korea's largest conglomerate in October, according to industry sources.The sources said Lee left for the UAE on Sunday. Although it remains unclear who he will meet there, the chairman is expected to have a meeting with Sheikh Mohammed bin Sultan Al Nahyan, the president of the UAE.Fueling the speculation is the fact that the UAE president has invited global business figures and politicians every winter to hold private social gatherings. Lee also visited the UAE in December last year. During that trip, Lee reportedly met with President Sheikh Mohammed, who is the crown prince of Abu Dhabi.A Samsung Electronics spokesman refused to confi

Dec 5, 2022By Baek Byung-yeul
Samsung chief picks UAE as destination of 1st trip after becoming chairman
Companies

Gov't officials, lawmakers visit Washington to push for IRA revision

Ahn Duk-geun, left, minister for trade, poses with U.S. Trade Representative Katherine Tai ahead of their talks in Bali, Indonesia, Sept. 23. Ahh left for Washington, D.C., Sunday with government officials and lawmakers to meet their U.S. counterparts to consult on the U.S. Inflation Reduction Act. Courtesy of Ministry of Trade, Industry and Energy.By Baek Byung-yeulGovernment officials and a delegation from the National Assembly left for Washington, D.C. Sunday to deliver their opinions to their counterparts about the U.S. Inflation Reduction Act (IRA), which has become a risk factor for Korean companies selling their batteries and electric vehicles (EVs) in the U.S. The Ministry of Trade, Industry and Energy said Trade Minister Ahn Duk-geun and a group of lawmakers including Youn Kwan-suk, a lawmaker of the main opposition Democratic Party of Korea (DPK) and chairman of the National Assembly's Trade, Industry, Energy, SMEs, and Startups Committee will visit the U.S. capital for five days from Monday to Friday to discuss the IRA-related matters with key figures of the U.S. administr

Dec 4, 2022By Baek Byung-yeul
Gov't officials, lawmakers visit Washington to push for IRA revision
Companies

SK vows to continue offshore natural gas project in Australia despite legal setback

Seen is a marine gas field in Australia's northern coastal waters. Courtesy of SK E&SBy Baek Byung-yeulSK E&S, a natural gas provider of SK Group, said Sunday that the company will make efforts to carry out its offshore natural gas field development project in Australia even though the Federal Court of Australia ruled in favor of the Indigenous people again in a legal appeal over the gas field involving Australian energy firm Santos. SK E&S has been participating in the Barossa-Caldita offshore gas field project in Australia together with Santos since 2021 as the company announced it would invest a total of $1.4 billion over the next five years to produce low-carbon liquefied natural gas (LNG) using carbon capture and storage (CCS) technology that reduces CO2 emissions.SK E&S is a subsidiary of SK Inc., a holding company of SK Group, which holds a 90 percent stake in the company. SK E&S holds 37.5 percent stake in the development project while Santos holds 50 percent stake.However, the court maintained that Santos did not properly consult with the Indigenous peopl

Dec 4, 2022By Baek Byung-yeul
SK vows to continue offshore natural gas project in Australia despite legal setback
Companies

Hyundai Motor sets up mobility control tower

Luc Donckerwolke, president and chief creative officer of Hyundai Motor Group / Courtesy of Hyundai Motor GroupBy Baek Byung-yeulHyundai Motor Group is accelerating its drive to become a leader in the future mobility industry, which combines eco-friendly energy-powered hardware with software. The Korean automotive giant announced its annual reshuffle of top executives on Wednesday, the biggest change of which was launching a new unit called the Global Strategy Office (GSO), which will serve as a control tower for managing its future strategies, including its future mobility business. The office will be in charge of setting up strategic directions from the perspective of software, hardware and mobility services; collaboration with inside and outside organizations; and commercialization verification of new businesses, according to the group.In addition, the group said that the newly established organization will have a decision-making body consisting of experts in each field for the timely and consistent implantation of strategies. The group added that further details on the GSO will b

Dec 1, 2022By Baek Byung-yeul
Hyundai Motor sets up mobility control tower
Tech & Science

Saudi minister visits LG CNS for smart city cooperation

Kim Hong-keun, right, vice president of LG CNS, poses with Majed Al-Hogail, minister of Saudi's Ministry of Municipal and Rural Affairs and Housing at LG Science Park in Seoul, Nov. 30. LG CNS said it introduced smart city services and technologies that are based on AI, big data and cloud computing to Saudi government officials. Courtesy of LG CNS

Dec 1, 2022By Baek Byung-yeul
Saudi minister visits LG CNS for smart city cooperation
Tech & Science

Corning announces new cover glass for smartphones

Jum Kim, president of Corning Gorilla Glass Korea, speaks during an online conference, Thursday. Screenshot from conferenceBy Baek Byung-yeulCorning Gorilla Glass Korea unveiled its new glass cover for smartphones that has improved drop resistance, aiming to supply the latest product to flagship smartphones that will be launched in 2023, the head of the Korean unit of the U.S.-based company said Thursday.Jum Kim, president of Corning Gorilla Glass Korea, introduced the Gorilla Glass Victus 2 during an online press conference, saying the new product is the most suitable for smartphones these days that are becoming heavier and adopting larger screens.“For the past 15 years, we have consistently introduced new glass products to meet the needs of mobile device users. As they went through the pandemic, people's use of smartphones also increased. Smartphones have become a part of our lives, such as having virtual meetings, ordering food in the evening, searching for the weather before going to bed and watching dramas,” Kim said.“Demand is also increasing for better drop p

Dec 1, 2022By Baek Byung-yeul
Corning announces new cover glass for smartphones
Companies

KT, Coway forge ties in smart home appliances

Yoon Kyung-rim, right, head of KT's Transformation Division, and Coway CEO Seo Jang-won pose after agreeing to cooperate in the home appliance business, at KT's headquarters in Seoul, Wednesday. Courtesy of CowayBy Baek Byung-yeulKT and Coway have decided to form a partnership to cooperate on artificial intelligence (AI)-based home appliance business, the mobile carrier and the home appliance rental company said Wednesday. The two companies said that they decided to cooperate with each other to improve their customers' quality of life by combining their smart home appliance-related technologies. The two also expect they can create a synergy effect by expanding sales channels. Under the agreement, the two companies said they will work together to develop advanced home digital transformation technology, expand synergy by combining their products and develop new market segments such as appliances for pets or single-person households. In addition, KT and Coway also seek to expand into the overseas market together.The industry view is that their cooperation is expected to make up for each

Nov 30, 2022By Baek Byung-yeul
KT, Coway forge ties in smart home appliances
Companies

Samsung Electronics secures stable water supply for chip production

Kyung Kye-hyun, sixth from left, CEO of Samsung Electronics' Device Solutions Division, poses with government officials after agreeing to reuse treated sewage water for industrial use at its chip-manufacturing plants at the company's Hwaseong Campus in Gyeonggi Province, Wednesday. From left are K-water CEO Park Jae-hyeon, Pyeongtaek Mayor Jung Jang-seon, Yongin Mayor Lee Sang-il, Gyeonggi Province Vice Governor Yeom Tae-young, Minister of Environment Han Wha-jin, Samsung CEO Kyung, Suwon Mayor Lee Jae-joon, Hwaseong Mayor Chung Myung-geun, Osan Mayor Lee Kwon-jae, and Korea Environment Corporation CEO Ahn Byung-ok. Courtesy of Samsung ElectronicsBy Baek Byung-yeulSamsung Electronics has secured a stable supply of water for its semiconductor manufacturing plants in Korea. The chipmaker said Wednesday that it signed an agreement with the government to reuse treated sewage water for industrial use.The company said it agreed with the Ministry of Environment, K-water, Korea Environment Corporation, Gyeonggi Province and five Gyeonggi provincial cities, including Hwaseong, Pyeongtaek, Yon

Nov 30, 2022By Baek Byung-yeul
Samsung Electronics secures stable water supply for chip production
Companies

Gov't vows to keep responding to US IRA for Korea's EV industry

Trade, Industry and Energy Minister Lee Chang-yang, right, speaks during a meeting with executives of car and battery companies at the Korea Chamber of Commerce and Industry building in Seoul, Tuesday. Courtesy of Ministry of Trade, Industry and EnergyBy Baek Byung-yeulThe government vowed Tuesday that it will continue working to minimize the impact of the U.S. Inflation Reduction Act (IRA), which excludes buyers of electric vehicles (EVs) assembled outside North America from tax credits, by setting up short-, medium- and long-term goals. In the short term, the government will support domestic companies exporting eco-friendly cars for commercial purposes, as commercial vehicles assembled outside North America are still eligible for tax credits.Given the U.S. Senate and the House of Representatives have each proposed amendments to the IRA, the Korean government will continue to deliver its opinions to the U.S. Congress on why the act needs to be revised, as one of its medium-term goals.Also, in the long run, the government plans to come up with measures so that Korean companies can be

Nov 29, 2022By Baek Byung-yeul
Gov't vows to keep responding to US IRA for Korea's EV industry
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