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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 to go global with Kakao Universe metaverse platform

Kakao CEO Namkoong Whon introduces the company's metaverse service, Kakao Universe, during an online press conference, Tuesday. Courtesy of KakaoBy Baek Byung-yeulKakao unveiled its metaverse service, Kakao Universe, which aims to connect global users who share the same interests, the head of the internet company said, Tuesday.Through its mobile messenger service, KakaoTalk, the company has concentrated on providing what it calls acquaintance-based communication services, but Kakao is now trying to expand its target customers by creating a space where people with the same interests can gather.At a time when the metaverse ― a virtual space in which users can interact with each other and the virtual environment ― has been emerging as a new business, Kakao CEO Namkoong Whon said the company's metaverse vision is to connect people across the world who share the same interests. As part of the plan, he said the company will launch a service called OpenLink.“We realized that there was a limit to global expansion with acquaintance-based services of about 50 million domestic users, who

Jun 7, 2022By Baek Byung-yeul
Kakao to go global with Kakao Universe metaverse platform
Companies

Gov't launches IPEF response team

President Yoon Suk-yeol speaks during the Indo-Pacific Economic Framework (IPEF) launch event, held in Japan, via video link at his office in Seoul, May 23. Courtesy of the Presidential OfficeBy Baek Byung-yeulThe government launched a response team on Tuesday, consisting of officials from various ministries including the industry and trade ministry, finance ministry and foreign ministry, in response to the recently-launched Indo-Pacific Economic Framework (IPEF), in order for Korea to play a leading role in the formation of the new international initiative.On May 23, U.S. President Joe Biden launched the IPEF initiative when he was visiting Tokyo. Including Korea, a total of 14 countries joined the economic framework, which is aimed at strengthening cooperation between the U.S. and its allies in the Indo-Pacific region. The participating countries are Australia, Brunei Darussalam, Fiji, India, Indonesia, Japan, Malaysia, New Zealand, Philippines, Singapore, Thailand and Vietnam.Korea, where exports account for a large portion of the national economy, plans actively to participate in

Jun 7, 2022By Baek Byung-yeul
Gov't launches IPEF response team
  • ANALYSIS IPEF to deepen Korean firms' 'dual-track' strategy with US, China
Companies

INTERVIEW Korea urged to enhance technological prowess to survive US-China rivalry

Lee Kwang-hyung, president of KAIST / Courtesy of KAISTKAIST head stresses importance of nurturing manpower in semiconductor industry By Baek Byung-yeulThe Yoon Suk-yeol government, which was inaugurated on May 10, is urged to focus on developing the country's capabilities in science and technology, which have emerged as key drivers to protect national security and survive in the escalating hegemony war between the United States and China, the head of the nation's top science and technology university said.“Science and technology have now become key drivers of national security and international politics at a time when the U.S. and China are fighting to gain technological supremacy,” Lee Kwang-hyung, president of the Korea Advanced Institute of Science and Technology (KAIST), told The Korea Times in a recent written interview.“Countries that secure high technology will take the lead in international politics, the economy, military and industry. The new government needs to run state affairs with the idea that science and technology are the basis of everything,”

Jun 7, 2022By Baek Byung-yeul
[INTERVIEW] Korea urged to enhance technological prowess to survive US-China rivalry
  • Yoon calls for efforts to increase competitiveness of chip sector
Companies

Samsung's ethics chief calls for pardoning of Vice Chairman Lee

Lee Chan-hee, chairman of Samsung's Compliance Committee, speaks during a meeting with top executives of Samsung Group affiliates at its office in Seoul, June 3. Courtesy of Samsung Compliance CommitteeBy Baek Byung-yeulLee Jae-yong, vice chairman of Samsung ElectronicsLee Chan-hee, chairman of Samsung Group's compliance committee, has called for for Samsung Group chief Lee Jae-yong to be pardoned as the leadership vacancy he has left is taking a toll on the country's largest conglomerate at a time when the external business environment surrounding the chip giant is rapidly changing, according to industry officials Monday.At a time when chips have become the most important strategic material for the United States and China to compete over for technological hegemony, some members of the public and some business groups agree that the government should pardon Lee in order to increase business opportunities.On June 3, the compliance committee chairman once again raised the need to pardon the Samsung chief so that the nation's largest conglomerate can play a bigger role. “If the top

Jun 6, 2022By Baek Byung-yeul
Samsung's ethics chief calls for pardoning of Vice Chairman Lee
Companies

SK Bioscience to test own COVID vaccine as booster

By Baek Byung-yeulPresident Yoon Suk-yeol takes a look at SK Bioscience's COVID-19 vaccine at the company's office in Seongnam, Gyeonggi Province, April 25, when he was president-elect. Courtesy of Presidential OfficeSK Bioscience is set to conduct Phase 3 clinical trials of its COVID-19 vaccine in overseas countries to check its effectiveness as a booster shot. The biotech company also expects its vaccine could be approved by a health agency here, according to a company official, Monday.The biotech arm of SK Group and the International Vaccine Institute (IVI) said they will begin global Phase 3 clinical trials of SK's COVID-19 vaccine candidate GBP510 in Thailand, Nepal and Columbia. SK has been collaborating with the IVI for the development of a Korea-made COVID-19 vaccine.In Thailand, the clinical trials will be conducted on adults who have been vaccinated twice with GBP510 or other COVID-19 vaccines. In Nepal and Colombia, the booster shot effects of GBP510 will be checked for adults who have been vaccinated twice with other companies' COVID-19 vaccines.In April, SK Bioscience re

Jun 6, 2022By Baek Byung-yeul
SK Bioscience to test own COVID vaccine as booster
Tech & Science

Korea hopes for successful launch of Nuri space rocket

The Nuri space rocket lifts off from the Naro Space Center in Goheung, South Jeolla Province, Oct. 21, 2021, during its first launch. Korea will try the second launch of the Nuri on June 15. Courtesy of Korea Aerospace Research InstituteKARI said it learned lesson from failed 1st launchBy Baek Byung-yeulKorea is set to attempt a second launch of the homegrown Nuri space rocket on June 15 after its first launch failed in October 2021.A committee at the Ministry of Science and ICT, which manages the launch of the Nuri rocket or Korean Space Launch Vehicle (KSLV-II), held a meeting on May 25. Since then, the committee has been reviewing technical preparations, weather conditions and the possibility of collisions with space objects and decided that June 15 would be the optimum launch date.Aimed at securing the country's own space transport capability, the three-stage rocket, which weighs 200 tons and is 47.2 meters in height, is made with state-of-the-art technology. About 500 people from the Korea Aerospace Research Institute (KARI) and 300 domestic companies including Hanwha Aerospace,

Jun 5, 2022By Baek Byung-yeul
Korea hopes for successful launch of Nuri space rocket
Companies

Samsung chief appears for Ho-Am Prize Award

Lee Jae-yong, front row left, poses with winners of the Samsung Ho-Am Prize at the Shilla Hotel in Seoul, Tuesday. Lee made his first appearance in six years at the award ceremony, which was established to commemorate Samsung Group founder Lee Byung-chull, his grandfather. Awardees each received a certificate, a medal and 300 million won in prize money, in recognition of their efforts in various fields including science, medical science, engineering, culture and community service. Courtesy of Ho-Am Foundation

May 31, 2022By Baek Byung-yeul
Samsung chief appears for Ho-Am Prize Award
Companies

Will Kakao, Naver set trend for remote work in IT industry?

Namkoong Whon, CEO of Kakao / Courtesy of KakaoBy Baek Byung-yeulKakao and Naver have announced they will adopt a remote work system as the norm even though some companies are making their employees return to office work ― as the daily number of infections continues to go down gradually, the companies said Tuesday.Given that the two representative internet companies of the country encourage their employees to work remotely, the IT industry here is paying attention to the move because their ways of working could become a new standard in the industry.“The two companies have led trends in the IT industry, ranging from annual salary levels to entering new businesses. Encouraging employees to work remotely could set a new standard for people in this industry, who got used to working more comfortably during the pandemic,” an official in the IT industry said on condition of anonymity.Kakao said it will implement what it calls a metaverse working system in July, replacing the remote working system employees are currently using.Kakao has been letting employees work remotely since

May 31, 2022By Baek Byung-yeul
Will Kakao, Naver set trend for remote work in IT industry?
Companies

Samsung seeks mutual growth with partners through job center

Images from the website of Samsung Electronics' Samsung Youth Job Center / Courtesy of Samsung ElectronicsBy Baek Byung-yeulSamsung Electronics logo / Courtesy of Samsung ElectronicsSamsung Electronics has been achieving mutual growth with its partner companies and providing better jobs to young people at the same time by operating an employment service called Samsung Youth Job Center, the company said, Monday.In 2013, the company established the center to provide high-quality job opportunities and job consulting programs to young people and to help its partner companies recruit talented young people. Through this center, an average of 980 young people have joined Samsung's partner companies annually.“Jobseekers can be introduced to promising companies and our partner companies can review various talent pools. As the competitiveness of partner companies becomes a driving force for growth together, the job center is sincere in the entire process of discovering and recommending jobseekers,” the company said.As an example of a case of a young jobseeker who found a job throug

May 31, 2022By Baek Byung-yeul
Samsung seeks mutual growth with partners through job center
Companies

Koreans ready to flock to Japan as tourism resumes in June

People walk along a pedestrian crossing in the tourist district of Asakusa in Tokyo, July 31, 2021. AP-YonhapBy Baek Byung-yeulTour agencies here, which have been struggling with low travel demand amid the COVID-19 pandemic, are set to capitalize on Japan's decision to ease entry restrictions for foreign tourists next month, according to company officials Friday. They expect more Korean tourists will fly to the neighboring country, which will serve as a catalyst in revitalizing the sluggish travel industry.There will be a significant increase in the number of Korean tourists to Japan, as the Japanese government will expand the daily number of people allowed into the country starting next month and exempt them from strict quarantine requirements. “Our company is currently receiving reservations for travel packages departing for Japan after July 20. We understand that other travel agencies are also planning similar products and accepting reservations,” a spokesman of local travel agency Modetour said.“The response from customers is much better than expected. Modetour

May 27, 2022By Baek Byung-yeul
Koreans ready to flock to Japan as tourism resumes in June
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