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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

Kakao founder slammed for evading responsibility over service outage

Kakao founder Kim Beom-su / Courtesy of KakaoExperts urge Kim to come to forefront of managementBy Baek Byung-yeulKakao founder Kim Beom-su's leadership has come under fire due to the recent service outage after a data center fire. Industry experts said Thursday that the incident revealed that Kakao had focused only on expanding its business, but had been negligent in operating its services stably without establishing a proper control tower to oversee its operations. They added that Kim, who's currently serving as a chief of the company's Future Initiative Center, needs to take the chief executive or chair of the board position as part of his effort to show more responsibility as a major shareholder of the internet giant.“The service outage obviously showed that Kakao has failed to manage risks effectively. The company has ventured into various businesses based on the dominance of its platform, but it turned out that Kakao neglected the safety of its most important business,” an official in the IT industry said on condition of anonymity.Kim Dae-jong, a professor in the Sc

Oct 20, 2022By Baek Byung-yeul
Kakao founder slammed for evading responsibility over service outage
  • Kakao, SK in blame game over fire at data center
Companies

SK Bioscience aims to address vaccine inequality through global partnership

An SK Bioscience researcher handles vials. Courtesy of SK BioscienceBy Baek Byung-yeulSK Bioscience, which developed Korea's first COVID-19 vaccine, SKYCovione, said Thursday that the biotech company aims to address the issue of vaccine inequality by intensifying collaboration with international organizations so that people living in low-income countries will be easily able to prevent life-threatening diseases. Rich, developed countries were the first to get access to sufficient doses of the COVID-19 vaccines to fully vaccinate the majority of their populations. However, whereas some developed countries purchase vaccines in numbers that exceed demand, eventually discarding them in large numbers after they expire, most of the population of the countries with the lowest per capita GDP continue to be unable to receive even a single dose.According to “Our World in Data,” a website compiling global COVID-19 statistics, 68 percent of the world's population has received at least one dose of a COVID-19 vaccine, but only 22.7 percent of people in low-income countries have received

Oct 20, 2022By Baek Byung-yeul
SK Bioscience aims to address vaccine inequality through global partnership
Companies

Hyundai Motor Group to help auto parts makers transition to EV business

Prime Minister Han Duck-soo, center, Chung Euisun, fourth from right, chairman of Hyundai Motor Group, and officials from the Ministry of Trade, Industry and Energy; the Ministry of SMEs and Startups; the Fair Trade Commission; the Korea Automotive Technology Institute; the Korea Fair Trade Mediation Agency; and the Foundation of Korea Automotive Parts Industry Promotion pose after signing an agreement to support local auto parts companies in transitioning to the electric car business at Hyundai's research center in Hwaseong, Gyeonggi Province, Wednesday. Courtesy of Hyundai Motor GroupAutomotive giant, gov't forge ties to foster EV ecosystemBy Baek Byung-yeulHyundai Motor Group has joined hands with the government to support local auto parts manufacturers to get into the rapidly-growing electric vehicle (EV) business, as it is anticipated that the domestic companies will have difficulties in the near future when the entire car industry is transitioning from traditional combustion engine-powered cars to EVs, according to the automotive group, Wednesday.The Korean automotive giant sig

Oct 19, 2022By Baek Byung-yeul
Hyundai Motor Group to help auto parts makers transition to EV business
Companies

Kakao's co-CEO steps down taking blame for massive service outage

Namkoong Whon, left, and Hong Eun-taek, co-CEOs of Kakao, bow their heads to apologize for service disruptions caused by a fire at a data center, during a press conference at the company's office in the Pangyo area of Seongnam, Gyeonggi Province, Wednesday. YonhapCompany vows to overhaul data backup system to prevent another incidentBy Baek Byung-yeulNamkoong Whon, co-CEO of Kakao, stepped down on Wednesday to take responsibility for the recent service disruptions including its popular messenger app KakaoTalk due to a data center fire and vowed to complete a backup system within two months to prevent a recurrence.“Currently, most of our services have been normalized. We have caused great inconvenience for a lengthy period of time as our response did not meet the expectations of users,” Namkoong said during a press conference at its office in the Pangyo area of Seongnam, Gyeonggi Province.“I feel heavy-hearted when I think of users and our partners who use Kakao services, such as those who had difficulty communicating, drivers who could not receive calls and business

Oct 19, 2022By Baek Byung-yeul
Kakao's co-CEO steps down taking blame for massive service outage
Companies

Hyundai Motor unveils new Grandeur sedan

This photo provided by Hyundai Motor, Wednesday, shows the carmaker's new Grandeur sedan. Hyundai Motor said the seventh-generation Grandeur continues the design heritage of the first-generation Grandeur, which was launched in 1986. The large-sized flagship sedan will be launched in the Korean market in November. Courtesy of Hyundai Motor 

Oct 19, 2022By Baek Byung-yeul
Hyundai Motor unveils new Grandeur sedan
Companies

Samsung, SK hynix at crossroads while TSMC soars

Experts say Korea needs to bolster non-memory sector, nurture IT professionals By Baek Byung-yeulSamsung Electronics and SK hynix are facing a bleak outlook in terms of their bread-and-butter memory chip businesses as soaring global inflation, the won's fall against the dollar and the ongoing Russia-Ukraine war have dampened demand for IT products using those chips, according to industry analysts, Monday.The analysts said Samsung and SK will face even more unfavorable business conditions in 2023, because they are heavily dependent on memory chips that account for only 30 percent of the entire chip market and are severely affected by the global economy.That outlook contrasts sharply with forecasts for TSMC and other Taiwanese companies, which are focusing on non-memory chip operations such as the foundry business, which are still seeing steady demand despite slow economic conditions. Also, Washington's move to restrict Beijing's development of its chip industry, including a ban on exports of U.S.-made chip equipment to China, has also become a negative factor for Korean chip makers, t

Oct 19, 2022By Baek Byung-yeul
Samsung, SK hynix at crossroads while TSMC soars
Companies

Kakao, SK C&C expected to clash over compensation for messenger service outage

Kakao's office in the Pangyo area of Seongnam, Gyeonggi Province / YonhapBy Baek Byung-yeulThis photo, provided by Rep. Yoon Young-chan, shows batteries in the electric room of SK C&C's Pangyo data center facility in Seongnam, Gyeonggi Province, on fire, Monday. YonhapA blame game over who is more responsible for the cause of the recent fire which resulted in KakaoTalks' lengthy service disruptions has begun as SK C&C, which provides the data center service to Kakao, appears to have a different opinion, according to the company, Tuesday.On Saturday afternoon, a fire at SK C&C's data center in Pangyo, on the outskirts of Seoul, occurred, leading to service disruption for Kakao Talk, a messenger app service of Kakao for about 10 hours.In the process of extinguishing the fire, SK C&C claimed to have asked Kakao's understating about cutting off the power supply to the entire server while Kakao claimed that SK C&C unilaterally notified it.The industry view is that Kakao has begun a prelude to a lawsuit so as to claim indemnity from SK C&C after completing compensat

Oct 18, 2022By Baek Byung-yeul
Kakao, SK C&C expected to clash over compensation for messenger service outage
  • Kakao faces class action suit, monopoly probe following service outage
Companies

Startup minister vows to make COMEUP become leading meetup event

Minister Lee Young, of the Ministry of SMEs and Startups, speaks during a press conference about the 2022 COMEUP startup meetup event at Maru 180, a startup co-working building in southern Seoul, Tuesday. Courtesy of the Ministry of SMEs and StartupsBy Baek Byung-yeulKorea's minister of startups and small businesses vowed Tuesday to make the annual COMEUP event that promotes promising companies turn into one of the leading events for the industry in the coming years to help Korea's innovative technologies make inroads into the global market.“We will grow COMEUP into one of the world's top five global startup events within five years,” Lee Young, minister of the Ministry of SMEs and Startups, said during a press conference in Seoul.The startup ministry has hosted the COMEUP event since 2019. The event was launched to promote Korea's startup ecosystem to the global market and provide local companies meetup opportunities with investors and other companies from across the world. About 50,000 people participate in the event each year.This year's event will take place at the Do

Oct 18, 2022By Baek Byung-yeul
Startup minister vows to make COMEUP become leading meetup event
Companies

Samsung chief at WorldSkills

Samsung Electronics Vice Chairman Lee Jae-yong, second from right, shakes hands with a participant of the Korean national team at the closing ceremony of the WorldSkills Competition 2022 Special Edition held at Kintex in Goyang, Gyeonggi Province, Monday. Samsung Electronics has been sponsoring vocational skills competitions held here and abroad as part of its corporate social responsibility activities to support young engineers. Joint Press Corps 

Oct 17, 2022By Baek Byung-yeul
Samsung chief at WorldSkills
Companies

KT CEO meets with Philippine president for digital cooperation

KT CEO Ku Hyeon-mo, right, talks with Ferdinand Marcos Jr., president of the Philippines, at the Malacanang Palace in Manila, Oct. 14. Courtesy of KTBy Baek Byung-yeulKu Hyeon-mo, CEO of Korean telecom company KT, met with Philippine President Ferdinand Marcos Jr. and discussed ways to improve the Southeast Asian nation's digital technology capability, according to the mobile carrier, Monday. KT said Ku visited the presidential palace in Manila on Oct. 14. Marcos Jr., who took office in June, has stressed that he aims to establish an efficient national administrative system and improve the standard of living of the people through information and communication technology (ICT).During the meeting, Ku said he thinks the Philippines has great potential in the ICT sector, saying “the president's vision and Korea's aim to create a digital platform government are in line with each other.”Specifically, the CEO said the Philippines could be a key regional area for submarine cables and can emerge as a key country to resolve personnel shortages in the ICT sector, if the country focu

Oct 17, 2022By Baek Byung-yeul
KT CEO meets with Philippine president for digital cooperation
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