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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

Hyundai Motor takes 1st step to expand air mobility business in Southeast Asia

Shin Jai-won, left, president and head of Hyundai Motor Group's Advanced Air Mobility Division and Bambang Susantono, head of the Nusantara Capital City Authority, pose after signing an agreement to cooperate in the advanced air mobility business, in Bali, Indonesia, Monday. Courtesy of Hyundai Motor GroupBy Baek Byung-yeulHyundai Motor Group took its first step in advancing into Southeast Asia's air mobility (AAM) market by agreeing to establish a state-of-the-art transportation ecosystem in Indonesia's new capital, according to the group, Monday.The automotive group signed a memorandum of understanding (MOU) for the project at the Business 20 (B20) Summit in Bali, Indonesia. Hyundai said the MOU was signed by Shin Jai-won, president and head of the group's Advanced Air Mobility Division, and Indonesian government officials including Bambang Susantono, head of the Nusantara Capital City Authority.“The MOU aims to introduce AAM as part of a smart mobility ecosystem in the new capital city that Indonesia is working to establish. The group plans to develop a roadmap and review th

Nov 14, 2022By Baek Byung-yeul
Hyundai Motor takes 1st step to expand air mobility business in Southeast Asia
Companies

Seegene struggles to stay afloat as pandemic ebbs

Seegene CEO Chun Jong-yoon / Courtesy of SeegeneCOVID-19 test kit maker sees end of heyday By Baek Byung-yeulSeegene, which had enjoyed the soaring popularity of its COVID-19 PCR test kits, has been struggling to stay afloat as the pandemic has been ebbing, according to industry analysts, Monday. They said the time has passed for Seegene to enjoy high growth as the number of COVID-19 infections has gradually declined globally and much of the world is shifting to endemic mode.“There needs to be consideration that hospitals are using rapid antigen test kits to confirm COVID-19 infection. As the requirement to use PCR tests was lifted in October, a conservative approach is needed when forecasting future demand for PCT tests,” said Won Jae-hee, an analyst at Shinhan Investment & Securities."It will be difficult to raise the target stock in a short period of time, as there is still no solid growth momentum for Seegene's non-COVID-19 products,” the analyst added, suggesting a 34,000-won target stock price for Seegene.Seegene recently announced an estimation of its thi

Nov 14, 2022By Baek Byung-yeul
Seegene struggles to stay afloat as pandemic ebbs
Companies

IRA implementation 'should be discussed' in light of Korean firms' contributions to US economy: Biden

President Yoon Suk-yeol shakes hands with U.S. President Joe Biden during a Korea-U.S. summit held at a hotel in Phnom Penh, Cambodia, Sunday. Yonhap By Baek Byung-yeulU.S. President Joe Biden expressed a favorable attitude toward Korea companies, Sunday, at a time when the U.S.' implementation of the Inflation Reduction Act (IRA) is expected to bring a negative impact on Korean carmakers and battery makers. This is considered a step further, following his letter to President Yoon Suk-yeol last month in which he said the two countries should continue consultations on IRA issues.Yoon and Biden had a summit in Phnom Penh, Cambodia, Sunday evening.During the meeting, Yoon said, “A consultation channel between Korea and the U.S. to discuss the U.S. Inflation Reduction Act is operating closely. In October, President Biden confirmed the U.S. side's sincere willingness to consult on the IRA in a personal letter.”In response, Biden told Yoon “Korean companies have contribut

Nov 13, 2022By Baek Byung-yeul
IRA implementation 'should be discussed' in light of Korean firms' contributions to US economy: Biden
  • Yoon, Biden, Kishida agree to strengthen extended deterrence against North Korea
Companies

Hyundai Motor Group chief emphasizes bold decisions to counter climate change

Hyundai Motor Group Chairman Chung Euisun speaks during the B20 Summit in Bali, Indonesia, Sunday. Courtesy of Hyundai Motor GroupChairman Chung delivers speech at B20 Summit in IndonesiaBy Baek Byung-yeulThe world needs determination and leadership to use more sustainable energy sources such as renewable and hydrogen to tackle the climate change crisis, Hyundai Motor Group Chairman Chung Euisun told business leaders attending the G20 Summit, Sunday. “Now is the time for bold decisions. And now is the time for leadership,” Chung said during his keynote speech at the 2020 Business 20 (B20) Summit in Bali, Indonesia.The B20 Summit was held on the sidelines of the G20 Bali Summit, where world leaders have gathered to promote global economic stability and sustainable growth.To address climate change, Chung referred to the automotive industry, which adopts renewable energy sources rapidly.“The fact is that the world is facing a climate change crisis. The auto industry is rethinking energy and investing in renewable energy, but it is an endeavor that we cannot pursue alon

Nov 13, 2022By Baek Byung-yeul
Hyundai Motor Group chief emphasizes bold decisions to counter climate change
Tech & Science

Synology unveils products for data management, protection

Joanne Weng, Asia Pacific sales director at Synology, speaks during a press conference at the Plaza Hotel Seoul, Wednesday. Courtesy of SynologyBy Baek Byung-yeulSynology, a leading network attached storage maker, unveiled new products on Thursday that help companies manage their data flexibly and safely.The Taiwan-based company said data management and protection are becoming more important for companies in the digital transformation era. Small and medium-sized organizations are particularly experiencing difficulties in data management due to cost and technological reasons. Synology said it can help them with its high-quality and cost-effectiveness products.“COVID-19 has been impacting our life for almost three years now. That makes us rely 100 percent on digital technology for day to day work. Research actually shows that 60 percent of organizations sped up their investments during the period. We also know there's an ever wider acceptance of public cloud applications,” Joanne Weng, Asia Pacific sales director at Synology, said during a press conference in Seoul.The sale

Nov 9, 2022By Baek Byung-yeul
Synology unveils products for data management, protection
Tech & Science

SAP SuccessFactors is best tool to upscale employees' capabilities

Amy Wilson, senior vice president of Products and Design for SAP SuccessFactors, speaks during an interview at the Grand InterContinental Seoul Parnas hotel in southern Seoul, Tuesday. Korea Times photo by Baek Byung-yeulBy Baek Byung-yeulSAP SuccessFactors said companies need to use a bottom-up method in managing their manpower after the COVID-19 pandemic, adding that upscaling employees' capabilities and innovating the way of working using the company's human experience management (HXM) suite is necessary to create a sustainable organization, according to a company executive, Tuesday.“We talked about upskilling prior to the pandemic, but it was really more of a future thing. That was something we needed to think about in five years. Everyone needed to know what skills are needed, how they could deploy people and so on,” Amy Wilson, senior vice president of Products and Design for SAP SuccessFactors, said during an interview at the Grand InterContinental Seoul Parnas hotel in southern Seoul.“And that the tools of the past were not sufficient in order to do that bec

Nov 8, 2022By Baek Byung-yeul
SAP SuccessFactors is best tool to upscale employees' capabilities
Tech & Science

Nexon to return to G-STAR with 9 new games this year

Lee Jung-hun, CEO of Nexon Korea, speaks during a press conference at the company's headquarters in Pangyo, south of Seoul, Tuesday. Courtesy of NexonBy Baek Byung-yeulNexon will unveil nine new games for various platforms, including mobile devices, consoles and PCs, at the upcoming G-STAR game show, its CEO said Tuesday. “Our slogan for this year's G-STAR is 'return.' In 2019, we planned to put our resources into making fun games and tried to create the games until we think we are satisfied. We have kept this strategy straight for the past four years and we are back at G-STAR this year,” Lee Jung-hun, CEO of Nexon Korea, said during a press conference.Lee said that Nexon will operate 300 promotional booths at G-STAR, which is the largest number among the participating companies. The G-STAR event is Korea's largest game show, which will be held at the BEXCO convention center in Busan from Nov. 17 to 20. Nexon had not participated in the annual show from 2019.“The new games are obviously targeting global markets. They will be released in various platforms including c

Nov 8, 2022By Baek Byung-yeul
Nexon to return to G-STAR with 9 new games this year
Tech & Science

Danuri lunar orbiter sends photos, BTS song 'Dynamite' to Earth

A graphic representation of the Danuri lunar orbiter sending “Dynamite,” a song of BTS, to Earth, is seen in this photo provided by the Ministry of Science and ICT, Monday. Courtesy of Ministry of Science and ICTBy Baek Byung-yeulDanuri, Korea's domestically-developed lunar orbiter, succeeded in sending files including video, photos and interestingly “Dynamite,” the hit single of K-pop band BTS from space at a distance of 1.28 million kilometers to Earth, the science ministry said Monday.The Ministry of Science and ICT said “the Danuri has successfully sent data such as videos and photos from space,” in a shared press release with the Korea Aerospace Research Institute (KARI) and the Electronics and Telecommunications Research Institute (ETRI).The unmanned space vehicle sent the files using its space internet payload, developed by the ETRI. The internet device was designed to test the data transmission capability in a space environment where disconnection of telecommunications frequently occurs unlike that on Earth.Sending BTS's hit song and other

Nov 7, 2022By Baek Byung-yeul
Danuri lunar orbiter sends photos, BTS song 'Dynamite' to Earth
Tech & Science

Unity aims to help developers create games

Suzie Kim, country manager of Unity Technologies Korea, speaks during a press conference at the Korean branch's office in Seoul, Monday. Korea Times photo by Baek Byung-yeulBy Baek Byung-yeulUnity Technologies, a U.S.-based game engine maker, said it has updated its game engine software to help developers here create games more easily, according to the head of its Korean unit, Monday.“We recently held the Unite 2022 event in the U.S.,” Suzie Kim, country manager of Unity Technologies Korea, said during a press conference held at the company's office in Seoul. “To commemorate the event, we have prepared various lectures to provide useful information to developers using Unity. Particularly in Korea, we will also provide an interpretation service to support domestic developers and we will actively support the revitalization of the domestic game ecosystem.”The Unite 2022 event is a conference where developers can take a look at the latest technologies and projects of Unity, and share insights with Unity and industry experts. On Nov. 1, CEO John Riccitiello and oth

Nov 7, 2022By Baek Byung-yeul
Unity aims to help developers create games
Companies

'Agility, digitalization are key edges of Samsung Biologics'

James Park, executive vice president and head of global sales center at Samsung Biologics, speaks during a press conference held on the sidelines of the CPHI exhibition in Frankfurt, Germany, Oct. 25. Courtesy of Samsung BiologicsBy Baek Byung-yeulFRANKFURT ― Samsung Biologics has been increasing its presence in the global contract development and manufacturing organization (CDMO) business, generating larger revenues than market expectations this year. Such growth was possible thanks to its agile response to improve production capacity and achieving a digital transformation, according to its executives, Tuesday.“We recently completed the construction of our fourth plant in Songdo, Incheon. We have built four plants only in 11 years and became No. 1 CMO (contract manufacturing organization) company as our production capacity accounts for about 30 percent of the global biomedicine production,” James Park, executive vice president and head of the global sales center at Samsung Biologics, said during a press conference held on the sideline of the CPHI bio pharmaceutical exhib

Nov 7, 2022By Baek Byung-yeul
'Agility, digitalization are key edges of Samsung Biologics'
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