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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

Korean Air hires new flight crew members for first time in 3 years

Korean Air's B787-9 aircraft / Courtesy of Korean AirBy Baek Byung-yeulKorean Air is recruiting cabin crew for the first time in three years as the COVID-19 pandemic-hit airline is seeing an increasing number of air travelers, according to the top air carrier here, Friday.The company said it has begun receiving applicants for more than 100 new cabin attendant positions until Nov. 4.“Currently, the volume of air travel is still not up to the level it was before the COVID-19 pandemic, and some cabin crew members are still on leaves of absence. However, we decided to hire new crew members as we expect there will be a sharp increase in demand for international passengers after the end of this year, starting with the resumption of visa-free travel to Japan,” a Korean Air spokesperson said.“The recruitment is also aimed at providing high-quality jobs to those who have dreamed of becoming cabin crew members but gave up that hope amid the COVID-19 pandemic,” the official added.With the leading air carrier hiring new cabin attendants here in Korea, other air carriers a

Oct 14, 2022By Baek Byung-yeul
Korean Air hires new flight crew members for first time in 3 years
Companies

Will Kakao Games be reevaluated after dropping Lionheart Studio IPO?

Cho Kye-hyun, right, CEO of Kakao Games, and Namkoong Whon, then the co-CEO of the company and now the CEO of Kakao, pose for a photo when Kakao Games was listed on the Kosdaq stock market at the Korea Exchange in Seoul, Sept. 10, 2020. Courtesy of Kakao GamesBy Baek Byung-yeulKakao Games' shares surged nearly 10 percent, Friday, after the company announced on Thursday afternoon that it would defer a plan to list its subsidiary, Lionheart Studio. Industry analysts said the withdrawal of the listing of Kakao Games' subsidiary would enable Kakao Games to avoid depreciation, adding that the company's value would be reevaluated. Kakao Games is the game distribution arm of the internet company Kakao. It has generated profits by serving various kinds of games, and its subsidiary and game developer, Lionheart Studio, has played the most important role, accounting for 65 percent of Kakao Games' operating profit as of last year with the role-playing game “Odin: Valhalla Rising.”However, Kakao Games has been heavily criticized by investors since July, when it said it will list Lion

Oct 14, 2022By Baek Byung-yeul
Will Kakao Games be reevaluated after dropping Lionheart Studio IPO?
Tech & Science

Samsung expands health, safety ecosystem with enhanced software

A user opens a car door with Samsung Electronics' Galaxy Watch 5 smartwatch, Wednesday. Courtesy of Samsung ElectronicsBy Baek Byung-yeulSamsung Electronics is set to showcase its software development tool that enhances users' health, wellness and safety at the Samsung Developer Conference 2022 (SDC22) event, the company said, Wednesday.The developers' tools announced at this year's event, which is held in San Francisco on Wednesday (local U.S. time), included the Samsung Privileged Health SDK program for select partners, the Fall Detection API to support user safety, Samsung's new end-to-end research solution for educational, clinical and healthcare programmers, as well as ongoing opportunities for partners with Health Connect.“Samsung's health foundation is rooted in our advanced hardware and sensor technology and is bolstered by our open ecosystem and collaborative approach,” Yang Tae-jong, executive vice president and the head of Health R&D Team at Mobile eXperience (MX) Business, said.“That is why I am excited to announce expanded developer tools, APIs and

Oct 12, 2022By Baek Byung-yeul
Samsung expands health, safety ecosystem with enhanced software
Companies

HLB completes preparatory meeting with FDA for approval of liver cancer drug

Researchers from HLB Group work in a lab. Courtesy of HLBBy Baek Byung-yeulLocal biotech company HLB is stepping up efforts to win a novel drug approval in the United States for its liver cancer treatment Rivoceranib, after completing a pre-new drug application (NDA) meeting with the U.S. Food and Drug Administration (FDA), the company said Wednesday.HLB's U.S. subsidiary Elevar Therapeutics and China's Jiangsu Hengrui Medicine completed the pre-NDA meeting with the FDA on Oct. 11. During the meeting, the FDA reviewed the results of Phase 3 liver cancer clinical trials involving a combination of Rivoceranib and Camrelizumab.A pre-NDA meeting is held to discuss in advance the data and content of applications for new drug permits from the FDA before starting the actual NDA process.“We plan to proceed with the NDA soon because the FDA didn't raise any objections to the data presented by Elevar during the pre-NDA meeting,” an HLB spokesman said.To commercialize the drug, HLB conducted Phase 3 trials on 543 patients in 13 countries. The Phase 3 clinical trials succeeded in pro

Oct 12, 2022By Baek Byung-yeul
HLB completes preparatory meeting with FDA for approval of liver cancer drug
Tech & Science

US suspends export control of Samsung, SK in China for 1 year

SK hynix's chip plant in Wuxi, China / Courtesy of SK hynixBy Baek Byung-yeulSamsung Electronics and SK hynix earned one-year waivers from the United States for their chip-making factories in China to import semiconductor equipment without applying for permission from Washington, according to the companies and industry sources, Wednesday.As part of its countermeasures to prevent China from obtaining advanced chip technologies, the U.S. Department of Commerce announced a new export control measure that prohibits U.S.-based companies from exporting their semiconductor equipment to chip production companies in China.Under the measure, multinational companies operating in China, including Samsung and SK hynix, are required to win approval from Washington when they deliver chip equipment to their Chinese factories on a case-by-case basis.The measure was expected to disrupt the production plans of Samsung and SK hynix, which generate enormous amounts of profits by selling their memory chips in China. Samsung operates its Chinese plant in Xi'an while SK hynix produces chips in Wuxi.However,

Oct 12, 2022By Baek Byung-yeul
US suspends export control of Samsung, SK in China for 1 year
Companies

Samsung chief vows to invest $5.2 bil. to create huge lead for bio business

Lee Jae-yong, center, vice chairman of Samsung Electronics and leader of Samsung Group, and Samsung Biologics CEO John Rim, third from left, pose with other officials for a photo during a ceremony marking the completion of construction on Samsung Biologics' fourth drug manufacturing plant in Songdo, Incheon, Tuesday. Courtesy of Samsung ElectronicsSamsung Biologics completes construction of 4th plant in SongdoBy Baek Byung-yeulSamsung Electronics Vice Chairman Lee Jae-yong has vowed to invest 7.5 trillion won ($5.2 billion) in the company's biotechnology firm by 2032 to achieve a huge lead with its competitors, Samsung Group said Tuesday. The Samsung chief attended the ceremony for the completion of Samsung Biologics' fourth drug manufacturing plant in Songdo, Incheon. The plant, which went into operation this month, is the world's largest biopharmaceutical production plant, with an annual production capacity of 240,000 liters. Samsung invested about 2 trillion won in its construction. The visit was Lee's first in seven years to Samsung Biologics' Songdo Bio Campus since he attended

Oct 11, 2022By Baek Byung-yeul
Samsung chief vows to invest $5.2 bil. to create huge lead for bio business
Companies

Samsung, LG's earnings plunge due to economic slowdown

Samsung Electronics' office in Seocho-gu, Seoul / Yonhap/By Baek Byung-yeulSamsung Electronics and LG Electronics forecast their third quarter operating profit will be worse than expected due to the global economic downturn stoked by inflation, high interest rates and Russia's invasion of Ukraine, according to the companies Friday.Samsung, the world's largest memory chip maker, is expected to encounter severe hardships in its semiconductor business as orders for memory chips will continue to decrease until the first quarter of 2023 due to falling semiconductor prices and weak demand for IT devices that use its memory chips, according to analysts.Both Samsung and LG announced their earnings estimates for the July-September period. Samsung said it expects third quarter sales reached 76 trillion won ($53.8 billion), up 2.74 percent from the same period of 2021, while operating profit fell 31.73 percent year-on-year to 10.8 trillion won.Compared to the previous quarter, Samsung saw sales and operating profit in the third quarter decrease 1.55 percent and 23.4 percent, respectively. It is

Oct 7, 2022By Baek Byung-yeul
Samsung, LG's earnings plunge due to economic slowdown
Companies

Hyundai Mobis announces names for new auto parts, modules divisions

Hyundai Mobis' virtual reality promotional booth at the 2022 Consumer Electronics Show in Las Vegas held in January. Courtesy of Hyundai MobisBy Baek Byung-yeulHyundai Mobis is close to launching its wholly owned subsidiaries, which will be responsible for manufacturing vehicle parts and vehicle modules, respectively, as the auto parts affiliate of Hyundai Motor Group announced the names of the two companies on Friday.The company said its auto parts manufacturing subsidiary will be named Unitus while the module maker will be named Motras.Hyundai Mobis went on to say that Unitus is a combination of the word unit and the French word “tous,” which means “all” in English. Unitus will produce various chassis parts, electric parts, airbags and lamps.Motras is a combination of the words “module” and “transform,” which best represents its brand value of constantly seeking change through technological innovations. The company will be in charge of producing vehicle modules, which are a combination of large-sized vehicle components.Until now Hyund

Oct 7, 2022By Baek Byung-yeul
Hyundai Mobis announces names for new auto parts, modules divisions
Companies

Samsung Biologics launches bispecific antibody platform S-DUAL

Lee Jae-sun, right, vice president of Samsung Biologics, speaks during the Bio Knowledge Concert event held online, to explain the company's S-DUAL bispecific antibody platform, Thursday. Courtesy of Samsung BiologicsBy Baek Byung-yeulSamsung Biologics launched S-DUAL, a bispecific antibody platform developed with its own technology, with an aim to improve its capability in the contract-based drug development business, the company said Thursday.Bispecific antibodies act on two factors simultaneously, not just one factor, which is more effective than a monospecific antibody that acts on only one factor. Samsung Biologics said its S-DUAL platform is a high-yield bispecific antibody platform with a 99 percent chain-paring success rate. The platform has a unique asymmetrical structure that can reduce risks associated with chemicals.The company completed a patent application for its own bispecific antibody technology. The self-developed platform can be applied to various next-generation drugs such as multi-specific antibodies.“We attended the BioProcess International Conference and

Oct 6, 2022By Baek Byung-yeul
Samsung Biologics launches bispecific antibody platform S-DUAL
Companies

Genesis hosts KPGA golf tournament in Songdo

Genesis vehicles are displayed at Jack Nicklaus Golf Club Korea in Songdo, Incheon, Wednesday, where the 2022 Genesis Championship KPGA golf tournament is taking place from Thursday to Sunday. Courtesy of Hyundai Motor GroupBy Baek Byung-yeulThe 2022 Genesis Championship, a Korea Professional Golfers' Association (KPGA) golf tournament, began Thursday at Jack Nicklaus Golf Club Korea in Songdo, west of Seoul, running until Sunday, Hyundai Motor Group said Thursday.The automotive group said the golf championship is sponsored by its Genesis luxury car brand with an overall purse of 1.5 billion won ($1.07 million), the largest amount among the KPGA events. The inaugural Genesis Championship was held in 2017.The winner will receive 300 million won in prize money, which is also the largest amount for first place among KPGA competitions. The winner will also take home a Genesis GV80 SUV, along with the opportunity to play on the global stage thanks to sponsorships of the 2023 Genesis Scottish Open, the 2023 Genesis Invitational and the CJ Cup PGA Tour events.The 2022 Genesis Championship f

Oct 6, 2022By Baek Byung-yeul
Genesis hosts KPGA golf tournament in Songdo
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