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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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Tech & Science

Hyundai Motor offers glimpse of flying car in UK

A UAM concept model developed by Supernal, Hyundai Motor Group's urban air mobility (UAM)-specialized subsidiary, is displayed at the Farnborough International Airshow in the U.K., Monday. Courtesy of Hyundai Motor GroupAutomotive group's UAM subsidiary Supernal joins Farnborough AirshowBy Baek Byung-yeulHyundai Motor Group is stepping up its efforts to take the lead in the future mobility market, as the Korean car giant's subsidiary unveiled a concept model for its urban air mobility (UAM) aircraft at an airshow in the U.K., according to the automotive group, Monday. The group said that Supernal, its U.S.-based subsidiary specialized in UAM development, took part in the Farnborough International Airshow in the U.K. to showcase its technologies and vision for flying cars.The Farnborough International Airshow is the global aviation industry's second-largest airshow following the Paris Air Show. The event covers not only new products coming out of the traditional aviation industry but also future technologies such as UAM. Hyundai Motor Group tried to join the airshow in 2020, but it wa

Jul 18, 2022By Baek Byung-yeul
Hyundai Motor offers glimpse of flying car in UK
Companies

Korean streaming platforms move to challenge Netflix

The poster for drama “Extraordinary Attorney Woo” is seen on KT Studio Genie's streaming platform, Seezn. Screenshot from SeeznBy Baek Byung-yeulCompetition in the nation's over-the-top (OTT) media or video streaming business is becoming increasingly fierce as domestic operators grow bigger through mergers, challenging No. 1 player Netflix. With domestic players increasing the number of customers through mergers, domination of the streaming business here will now amount to a contest between who supplies better and more distinctive content, industry analysts and officials said Monday.On July 14, telecommunications company KT announced it has agreed to a deal with CJ ENM to merge its streaming service platform, Seezn, with the latter's platform, Tving. Tving was spun off from CJ ENM in 2020, with CJ ENM holding a 57 percent stake. Seezn is 100 percent owned by KT Studio Genie, the media content subsidiary of KT. Through the deal, Seezn will be absorbed by Tving and the merger will eventually make Tving the No. 2 domestic streaming platform with over 5 million monthly active

Jul 18, 2022By Baek Byung-yeul
Korean streaming platforms move to challenge Netflix
Companies

Reporter's Notebook Busan motor show no longer premier event for automakers

Seen is BEXCO convention center where the Busan International Motor Show takes place, Thursday. Korea Times photo by Baek Byung-yeulBusan City should adapt to changing auto industryBy Baek Byung-yeulSince its launch in 2001, the Busan International Motor Show has grown into one of the representative motor shows here along with the Seoul Mobility Show by providing a rare opportunity to gain a glimpse at new cars belonging to global auto brands for people living in southeastern Korea. The biennial event has been popular with more than 1 million visitors from 2003 to 2014, but since the 2016 event, its reputation has been gradually fading as the number of visitors has fallen to around 600,000.After skipping its 2020 event due to the COVID-19 pandemic, the motor show came back this year after a four-year hiatus. However, the event, which was organized by the Busan Metropolitan City Government, seems to be struggling to recreate the glory of the past this year because only six brands from two automotive groups attended. They are Hyundai Motor Group's Hyundai Motor, Kia and Genesis and BMW

Jul 18, 2022By Baek Byung-yeul
[Reporter's Notebook] Busan motor show no longer premier event for automakers
Companies

SK launches group-wide promotion activities for Busan Expo

Chey Tae-won, right, chairman of Korea Chamber of Commerce and Industry and chairman of SK Group, Prime Minister Han Duck-soo, center and Busan Mayor Park Heong-joon give a thumbs up at InterContinental Paris, June 20, before attending the general assembly of the Bureau International des Expositions (BIE). Courtesy of the prime minister's officeBy Baek Byung-yeulSK Group has gone all out to help the southern port city of Busan host the World Expo in 2030 as the conglomerate launched a task force specialized in promoting the city's bid to host the international event. The conglomerate appointed Cho Dae-sik, chairman of SK Supex Council, the group's decision-making body, to lead the task force, the group said, Sunday.The conglomerate said it launched the task force called WE, an abbreviation of World Expo. It added that the WE team stayed in the Pacific island country of Fiji for three days from July 8, for the opening of the Pacific Islands Forum (PIF), until July 14, the closing day of the political and economic policy organization's event in the Pacific region.The team was engaged i

Jul 17, 2022By Baek Byung-yeul
SK launches group-wide promotion activities for Busan Expo
Companies

Hyundai Motor unveils Ioniq 6 to counter Tesla Model 3

Chang Jae-hoon, president and CEO of Hyundai Motor, introduces the company's new Ioniq 6 electric car during Busan International Motor Show at Bexco, Thursday. Courtesy of Hyundai MotorNation's top brand to invest $1.5 bil. to build EV-only plant in UlsanBy Baek Byung-yeulBUSAN ― Hyundai Motor debuted its new Ioniq 6 electric vehicle (EV) that can travel more than 500 kilometers on a single charge at the Busan International Motor Show, Thursday, in a bid to compete with EV veteran Tesla's popular Model 3 sedan. Sporting a streamlined exterior design and advanced aerodynamic efficiency with a low drag coefficient of just 0.21, Hyundai Motor displayed its confidence that the Ioniq 6 will create a new sensation in the global EV market.“The Ioniq 6 is the next ambitious step forward in Hyundai Motor's strategy to accelerate its transition to electrification and into a position as a global leader in EVs,” said Chang Jae-hoon, president and CEO of Hyundai Motor.Hyundai Motor will start taking pre-orders for the Ioniq 6 on July 28 and begin selling the new vehicle to Korean cust

Jul 14, 2022By Baek Byung-yeul
Hyundai Motor unveils Ioniq 6 to counter Tesla Model 3
Companies

LG Chem first to achieve zero waste among chemical firms in Korea

LG Chem's Iksan plant in North Jeolla Province / Courtesy of LG ChemBy Baek Byung-yeulLG Chem is accelerating its efforts to improve its environmental performance, becoming the first chemical company in Korea to achieve international certification for its initiative to recycle waste into resources without using landfills, according to the company, Wednesday. The company said its two domestic plants in Iksan and Naju obtained Zero Waste to Landfill (ZWTL) certifications from global independent safety science company UL Solutions.“Its Iksan plant succeeded in recycling 96 percent of all waste and received a gold rating from UL Solutions, and the Naju plant earned a silver rating with a recycling rate of 94 percent,” a company spokesman said.UL Solutions grants the ZWTL certification after evaluating a company's resource recycling efforts. Depending on how much waste a company recycles, it may receive a silver rank for a recycling rate of between 90 percent and 94 percent, a gold rank for a rate between 95 percent and 99 percent and a platinum rank for 100 percent.LG Chem sa

Jul 14, 2022By Baek Byung-yeul
LG Chem first to achieve zero waste among chemical firms in Korea
Companies

'SK Bioscience's vaccine effective against Omicron variant'

An SK Bioscience researcher conducts a vaccine test in this photo provided by the company, Wednesday. Courtesy of SK BioscienceBy Baek Byung-yeulSK Bioscience's SKYCovione coronavirus vaccine was proven to be effective against the Omicron variant. The company said Wednesday that it confirmed the effective immune response when people received a booster shot of the vaccine.SKYCovione, also known as GBP510, is Korea's first COVID-19 vaccine. SK Bioscience obtained approval for the use of the recombinant protein-based vaccine from the Ministry of Food and Drug Safety on June 29.The company conducted Phase 1 and 2 clinical trials on 81 healthy adults who received a booster shot of SKYCovione seven months after they received the second dose of the vaccine. The result showed that the neutralizing antibody titers against the Omicron variant BA.1 were 25 times higher than the titers right after the second dose, and 72 times higher than the titers seven months after the second dose.The test result was revealed as the number of new confirmed COVID-19 infections is increasing again in Korea. As

Jul 13, 2022By Baek Byung-yeul
'SK Bioscience's vaccine effective against Omicron variant'
Tech & Science

LG Electronics seeks new growth engine beyond home appliances

This concept image, provided by LG Electronics on July 5, shows the company's digital cockpit system. Courtesy of LG ElectronicsVehicle component business swings to profit in Q2By Baek Byung-yeulLG Electronics is accelerating to diversify its business portfolio beyond home appliances and TVs which are seeing demand contracting due to soaring inflation and the floating interest rate, according to a company official and analysts, Tuesday. The tech company has prepared multiple new sources of revenue, such as vehicle components, robots and digital healthcare, for its sustainable growth. Among these, automotive components and systems are showing both profitability and growth to the point where they can be regarded as one of the firm's main profit sources, they added.“LG Electronics has been solidifying its leadership status in home appliances, which play a cash cow role in our portfolio. Our strategy is to retain a leading position in the sector and seek new growth engines,” a company spokesman said.On July 7, the company issued its preliminary earnings for the April-June per

Jul 12, 2022By Baek Byung-yeul
LG Electronics seeks new growth engine beyond home appliances
Companies

'Seoul E-Prix will show futuristic aspects of Seoul'

Seoul Mayor Oh Se-hoon, left, and Jamie Reigle, CEO of Formula E, pose in front of a GEN2 racing car during a press conference at Dongdaemun Design Plaza in Seoul, Tuesday. YonhapBy Baek Byung-yeulJamie Reigle, CEO of Formula E, said Tuesday that the organizing committee of the electric vehicle (EV) racing competition chose Seoul as its next competition venue in August because the capital city fits well with the future-oriented image of the event.“We are launching Seoul E-Prix this summer. We race in some of the most recognized cities in the world. We are really excited to come to Korea's capital Seoul,” Reigle told reporters during a press conference at Dongdaemun Design Plaza (DDP) in Seoul.“We are coming to Seoul because Seoul really represents the future. It's a very connected city and it's a global city. Our crews are very excited because this is a global city.”Organized by the International Automobile Federation (FIA), this is the first time that the EV racing competition is taking place in Korea.The Seoul E-Prix will be a stage for global carmakers, suc

Jul 12, 2022By Baek Byung-yeul
'Seoul E-Prix will show futuristic aspects of Seoul'
Tech & Science

Korea seeks to launch space economy via moon landing

Danuri lunar orbiter to be launched on Aug. 3By Baek Byung-yeulKorea is set to launch its first lunar orbiter, the Danuri, aboard SpaceX's rocket in the United States on August 3. The successful launch of the Danuri will mark the first step for Korea to join the space economy following other advanced countries active in the field, according to industry experts and government officials.The space economy refers to the economy beyond our planet, including exploring deep space, extracting resources that are rare on Earth and developing technologies necessary for space exploration.Space-related industries are drawing a lot of attention for their vast growth potential. In 2017, Morgan Stanley projected the global space industry to grow in size from $348 billion at the time to around $1 trillion by 2040. Meanwhile, Bank of America predicted in 2020 that the industry will grow in size to $1.4 trillion by 2030, showing that the growth potential of the industry is rising sharply.The rapid growth might be possible because a few private sector players, such as Amazon founder Jeff Bezos and Tesla

Jul 12, 2022By Baek Byung-yeul
Korea seeks to launch space economy via moon landing
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