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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 still balks at joining US-led chip alliance

President Yoon Suk-yeol talks with U.S. President Joe Biden prior to a trilateral summit among Korea, the U.S. and Japan on the sidelines of the 2022 NATO Summit in Madrid, Spain, June 29. Courtesy of presidential officeGovernment delays decision on fears of possible trade conflict with ChinaBy Baek Byung-yeulKorea is still hesitant to join the United States-led semiconductor supply chain alliance, known as the Chip 4, fearing that this could lead to further retaliation from China similar to its response to the deployment of a U.S. Terminal High Altitude Area Defense (THAAD) anti-missile battery here in 2016.“We cannot evaluate the direct impact of Chip 4 because the details of the alliance have not been decided and the agenda of the alliance has not been set,” Trade, Industry and Energy Minister Lee Chang-yang reiterated during a conference at the National Assembly on July 29.“The government is discussing what cooperation and strategies are needed to increase the competitiveness of the Korean semiconductor industry in the midst of the international situation.&rdquo

Jul 31, 2022By Baek Byung-yeul
Korea still balks at joining US-led chip alliance
Companies

Korea Post chief shares efforts to improve postal services in Spain

Son Seung-hyun, president of Korea Post, speaks during the Kahala Post Group meeting in Madrid, Spain, Friday. Courtesy of Korea PostBy Baek Byung-yeulKorea Post President Son Seung-hyun shared his agency's efforts to improve service quality globally during a meeting of international postal service agencies in Madrid, Spain, Korea Post said Friday. The president took part in a meeting of CEOs for the Kahala Post Group, an international meeting of postal operators from 11 countries including Korea, the United States, Japan, China, Australia, Hong Kong, Spain, the U.K., France, Thailand and Canada.“At the meeting, I shared our efforts to improve the quality of international mail and emphasized the continued cooperation of each postal organization to enhance the reception rate of pre-clearance information as countries are strengthening their customs measures,” Son said.Since its establishment in 2002, member countries of the Kahala Post Group have shared examples of business innovation and promoted cooperation in expanding postal services. During this year's meeting, each po

Jul 23, 2022By Baek Byung-yeul
Korea Post chief shares efforts to improve postal services in Spain
Companies

Samsung empowers young founders to kick off startups

Graduates of Samsung Software Academy For Youth (SSAFY) ― Eum Young-hyun, from left, Lee Ju-ho and Kim Dong-hwi ― poses in this photo provided by the company July 19. Courtesy of Samsung Electronics By Baek Byung-yeul Logo for Samsung Electronics / Courtesy of Samsung Electronics Samsung Electronics' efforts to foster local digital technology experts and entrepreneurs seem to be working, as graduates of the tech giant's software academy are setting up startups and establishing a new base for the country's digital industry, the company said Friday.Samsung said most of the graduates of its corporate social responsibility program Samsung Software Academy For Youth (SSAFY) aim for getting a job, but there are some who go on to found their own businesses.In 2018, the company kicked off the SSAFY as part of its efforts to expand the number of experts in th

Jul 22, 2022By Baek Byung-yeul
Samsung empowers young founders to kick off startups
Companies

44 workers died at SK ecoplant, Daewoo, Lotte, DL construction sites in Q2

Seen is the construction site of an apartment building in Seoul, June 14. Yonhap By Baek Byung-yeulSK ecoplant, Daewoo E&C, Lotte E&C, DL E&C, Doosan E&C and other construction companies here saw 44 worker deaths at their construction sites in the April-June period, according to the Ministry of Land, Infrastructure and Transport, Friday. The ministry released a list of the deaths that occurred on the construction sites of the country's top 100 construction companies, their subcontractors and government agencies in the second quarter.Among the 44 who died, nine people died at sites run by the top 100 construction companies. However, the number of deaths occurring at construction sites in the period was down five from 14 in the first quarter. Compared to 20 in the same period in 2021, the figure had decreased by 11.There were eight construction companies among the nation's top 100 construction companies that were included on the list of sites where workers have died.T

Jul 22, 2022By Baek Byung-yeul
44 workers died at SK ecoplant, Daewoo, Lotte, DL construction sites in Q2
Tech & Science

Samsung SDI to invest $1.3 bil. in cylindrical battery plant in Malaysia

Samsung SDI CEO Choi Yoon-ho, second from left, poses with Seremban Governor Dato' Seri Haji Aminuddin bin Harun, second from right, and South Korean Ambassador to Malaysia Lee Chi-beom, left, during a groundbreaking ceremony for the company's second battery production plant in Seremban, Malaysia, Thursday. Courtesy of Samsung SDIBy Baek Byung-yeulSamsung SDI is seeking to increase its cylindrical battery cell production, which electric vehicle (EV) makers are increasingly adopting, as the company said Thursday that it will invest 1.7 trillion won ($1.3 billion) to build an additional battery-manufacturing factory in Malaysia. The global cylindrical battery market has shown an average annual growth rate of 8 percent as the use of the product has expanded to EVs and energy storage systems from electric tools and micro-mobility products.The company said it held a groundbreaking ceremony for its second battery plant in Seremban, Malaysia. The battery cell maker will inject 1.7 trillion won into the new factory, which will be completed in 2025. There, the company will begin mass producin

Jul 21, 2022By Baek Byung-yeul
Samsung SDI to invest $1.3 bil. in cylindrical battery plant in Malaysia
Companies

Matica Bio aims to join global top 5 cell & gene therapy producers by 2030

Song Yun-jeong, CEO of Matica Biotechnology, speaks during a press conference held at CHA Bio Group's headquarters in Seongnam, Gyeonggi Province, Thursday. Courtesy of CHA Bio GroupBy Baek Byung-yeulMatica Biotechnology, a U.S. subsidiary of CHA Biotech, revealed its goal to join the global top five manufacturers of cell and gene therapy and generate sales of over 1 trillion won ($762.8 million) by 2030, its CEO said Thursday.“The global cell and gene therapy's CDMO (contract development and manufacturing organization) market is expected to grow by more than 20 percent every year and to grow to 25 trillion won by 2030,” Song Yun-jeong, the CEO of Matica Biotechnology, said during a press conference at CHA Bio Group's headquarters in Seongnam, Gyeonggi Province.“We will achieve annual 1 trillion won in sales by 2030 to grow into the world's fifth-largest cell and gene therapy CDMO company,” she said.Established in 2019, Matica Biotechnology is based in the U.S. state of Texas, which has universities with excellent bio-related experts and is traditionally known

Jul 21, 2022By Baek Byung-yeul
Matica Bio aims to join global top 5 cell & gene therapy producers by 2030
Tech & Science

Korea needs to be cautious about joining 'Chip 4' alliance: ICT minister

Lee Jong-ho, minister of science and ICT, speaks during a press conference at the Korea Press Center in Seoul, Wednesday. Courtesy of the Ministry of Science and ICTBy Baek Byung-yeulKorea should take a careful approach in deciding whether to join the United States-led semiconductor supply chain alliance, called the “Chip 4” alliance, taking its costs and benefits into consideration, the ICT minister said, Wednesday. “In the end, whether to join or not should be judged on if it's in Korea's national interest. Though it is an issue in the semiconductor industry, joining could affect other industries as well. We need to be careful about that. We have to judge and decide what will help us if we join the Chip 4 alliance,” Minister of Science and ICT Lee Jong-ho said during a press conference in Seoul.To contain China's growing involvement in high-tech industries, the U.S. proposed forming an alliance with three countries ― Japan, Taiwan and Korea ― to establish a supply chain alliance with its allies who are specialized in chip design, manufacturing and materials

Jul 20, 2022By Baek Byung-yeul
Korea needs to be cautious about joining 'Chip 4' alliance: ICT minister
Tech & Science

Samsung to unpack new foldable phones on Aug. 10

An invitation poster sent from Samsung Electronics on Wednesday shows a new foldable phone to be unveiled online, August 10. Courtesy of Samsung ElectronicsBy Baek Byung-yeulSamsung Electronics will soon introduce new foldable smartphones ― possibly called the Galaxy Z Fold 4 and the Galaxy Z Flip 4 ― in a bid to increase its presence in the premium phone market and solidify its image as a bold trailblazer in the new world of foldable phones, according to the company, Wednesday.Samsung sent an invitational letter to global media and its partner companies saying it will hold the “Samsung Galaxy Unpacked 2022: Unfold Your World” online event on Aug. 10.“Innovation isn't just about radical ideas; it's about unlocking new experiences that transform our daily lives for the better. Meaningful innovations go beyond the technical and provide a platform upon which our everyday lives become richer and more versatile ― opening us up to greater possibilities than ever before,” Samsung said in a statement.“To see how these possibilities will come about, join Samsung

Jul 20, 2022By Baek Byung-yeul
Samsung to unpack new foldable phones on Aug. 10
Tech & Science

LG CNS to digitize Government Complex Sejong

LG CNS employees promote the company's AI-based integrated control system, Tuesday. Courtesy of LG CNSBy Baek Byung-yeulLG CNS will establish a fully digital system in Government Complex Sejong, installing emerging technologies such as artificial intelligence (AI) and big data needed to improve operational efficiency, according to the company, Tuesday.The company recently won the project to build an integrated management system for a smart government office, ordered by the Ministry of the Interior and Safety. This is a development project to fully digitalize Government Complex Sejong, the largest government building in Korea, by next April.To that end, LG CNS will build an AI-based integrated control system in the complex by utilizing digital twin technology, 5G specialized network, AI and big data technologies.“LG CNS will provide the AI-based integrated control system through its 'Cityhub Building' digital transformation platform. The company developed the integrated control-specialized platform, which contains various solutions that can collect, manage and control data of la

Jul 19, 2022By Baek Byung-yeul
LG CNS to digitize Government Complex Sejong
Companies

Split from GSK, Haleon seeks to solidify consumer healthcare leadership

Seen is an image with logo of Haleon. Courtesy of HaleonBrian McNamara, CEO of Haleon / Courtesy of HaleonBy Baek Byung-yeulConsumer healthcare company Haleon was officially launched on Monday (U.K. time) after completing its spinoff from GSK, its Korean unit said Tuesday.Haleon is a global leading company in the consumer healthcare markets of 170 countries, selling numerous well-known brands such as Advil, Sensodyne, Panadol, Voltaren, Theraflu, Otrivin, Polident, Parodontax and Centrum.Under the mission of “deliver better everyday health with humanity,” the company was officially listed on the London Stock Exchange (LSE) on July 18 with an opening ceremony to signal the start of trading. The company will also be listed on the New York Stock Exchange (NYSE) market on July 20 (local time).“With an increased consumer focus on health and wellness, an aging global population, an emerging middle class in high-growth economies, growing self-care in the face of increased pressure on public healthcare systems and sizeable unmet consumer needs, Haleon has launched at a time

Jul 19, 2022By Baek Byung-yeul
Split from GSK, Haleon seeks to solidify consumer healthcare leadership
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