my timesThe Korea Times
baekby

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.

Go to Email

Read more

Companies

New industry minister meets KCCI chairman to discuss private-led growth

Lee Chang-yang, left, minister of trade, industry and energy, poses with Chey Tae-won, chairman of Korea Chamber of Commerce and Industry (KCCI) during a meeting at the KCCI's headquarters in Seoul, Wednesday. Joint Press CorpsBy Baek Byung-yeulThe government will pursue private sector-led economic growth strategies by modifying regulations that hinder corporate growth and offering incentives to let companies invest more, Lee Chang-yang, new minister of trade, industry and energy, said in a meeting with the head of one of the country's major business lobby groups, Wednesday.“In addition to the continued low-growth trend, the high interest rates, high inflation rates and high exchange rate have added difficulties to our companies,” Lee said during a meeting with Chey Tae-won, chairman of the Korea Chamber of Commerce and Industry (KCCI), at the lobby group's headquarters in Seoul.“To recover the dynamism of the industry, it is essential to overcome the low growth trend and lay the foundation for creating quality jobs. We plan to prepare measures to support facility i

May 18, 2022By Baek Byung-yeul
New industry minister meets KCCI chairman to discuss private-led growth
Companies

Hyundai, Kia to invest W21 tril. in domestic EV biz by 2030

First Vice Minister of Trade, Industry and Energy Jang Young-jin, center, poses with Hyundai Motor President Kong Young-woon, left, and Kia Executive Vice President Choi Jun-young during his visit to Kia's AutoLand plant in Hwaseong, Gyeonggi Province, Wednesday. Courtesy of Ministry of Trade, Industry and EnergyYoon administration vows full support to nurture future car industryBy Baek Byung-yeulHyundai Motor Group will invest 21 trillion won ($16.5 billion) by 2030 to expand its domestic electric vehicle (EV) production and other related businesses in line with the government's plan to develop the EV industry into one of the core sectors of the country's economy, the automotive group said Wednesday.Under the investment plan, the automotive group's annual EV production capacity will reach 1.44 million vehicles in 2030 from this year's projected production capacity of 350,000.“The large-scale investment of Hyundai Motor and Kia in the domestic EV industry is aimed at upgrading the domestic EV ecosystem and making the country play a role of leading innovation globally in the fut

May 18, 2022By Baek Byung-yeul
Hyundai, Kia to invest W21 tril. in domestic EV biz by 2030
Tech & Science

Protecting Korea's semiconductor leadership

This is the fifth in a series of contributions from experts to highlight various issues President Yoon Suk-yeol and his administration should address during his presidency. ― ED.Samsung, SK advised to cut reliance on commodity chips, focus on differentiated productsBy Jim Handy Jim Handy, general director at Objective Analysis President Yoon Suk-yeol, congratulations on being chosen to lead the Republic of Korea's government. I am sure that these are very exciting times for you.It seems presumptuous of me to try to give insight and advice to an important nation's leader, but I feel that I may be qualified to provide some input in my area of expertise.I am a semiconductor industry analyst who entered the business as a design engineer in the 1970s, to become one of its leading analysts, particularly in the field of memory chip technologies. I pride myself on my understanding of two markets that are incredibly important to Korea's semiconductor industry: DRAM and NAND fl

May 18, 2022By Baek Byung-yeul
Protecting Korea's semiconductor leadership
Companies

WeWork vows to offer Korea-specific services

Patricia Chun, general manager of WeWork Korea, speaks during a press conference at the office-sharing company's branch near Seoul Station, Tuesday. Courtesy of WeWork KoreaBy Baek Byung-yeulWeWork Korea, a local unit of multinational office-sharing company WeWork, vowed to offer Korea-specific services at a time when many companies are improving flexibility to their workplace operations as the country recovers from the COVID-19 pandemic, according to the head of the Korean branch, Tuesday.“We recently launched WeWork All Access service. By paying a monthly fee of 225,000 won ($176), users can access 765 WeWork branches in 35 countries. Korean users can purchase the monthly service program at e-commerce stores,” Patricia Chun, general manager of WeWork Korea, said during a press conference at the company's office-sharing space near Seoul Station.“Due to the pandemic, many companies are increasingly providing office spaces close to their employees' homes. I think WeWork All Access can be a reasonable alternative. It is a trend these days that the headquarters is bein

May 17, 2022By Baek Byung-yeul
WeWork vows to offer Korea-specific services
Tech & Science

Samsung frequent target of industrial technology theft

GettyimagesbankGov't urged to toughen punishment of tech thievesBy Baek Byung-yeulThe government is being urged to toughen its legal punishment of people who have leaked crucial industrial technologies of local companies such as Samsung Electronics, as more illegal attempts are being made to steal Korea's advanced technologies, such as semiconductors and displays, as competition between neighboring countries intensifies, industry experts and officials said, Tuesday.The latest case of industrial technology theft came from Semes, an affiliated company of Samsung Electronics, the No. 1 memory chip maker in the world in sales revenue. The Suwon District Public Prosecutors' Office said Monday that two former employees of Semes were indicted for their alleged involvement in selling a wafer cleaning machine to a Chinese company.A total of four members, including the two ex-Semes engineers, reportedly pocketed 80 billion won ($62.8 million) by handing over the equipment ― which had been supplied exclusively to Samsung ― to China.“These technology leaks should not be left up to individu

May 17, 2022By Baek Byung-yeul
Samsung frequent target of industrial technology theft
Companies

Lotte, Hanwha, Naver, OCI to join business meeting with Biden

Lotte Group Chairman Shin Dong-bin, left, and Hanwha Group Chairman Kim Seung-younBy Baek Byung-yeulChiefs of Lotte, Hanwha, Naver and OCI will likely join a business meeting with U.S. President Joe Biden that will take place on May 21 during his three-day visit to Korea, according to industry sources, Monday.The U.S. Embassy sent an invitation to companies on May 13 for the business roundtable in the name of U.S. Secretary of Commerce Gina Raimondo, the sources said.The U.S. president is scheduled to visit here from May 20 to 22 and will have a summit with newly inaugurated President Yoon Suk-yeol on May 21. The business roundtable will take place at a hotel in downtown Seoul on the morning of the same day.Four major conglomerates ― Samsung, SK, Hyundai Motor and LG ― are expected to attend, but companies including Lotte and Hanwha have also been added to the list. There is also a possibility that companies will be added or changed depending on future discussions, according to the sources.It is known that the invitation did not specify the names of the company's participants, which

May 16, 2022By Baek Byung-yeul
Lotte, Hanwha, Naver, OCI to join business meeting with Biden
  • Korean biz groups examine US operations, investments ahead of Biden visit
Tech & Science

SK launches new AI assistant service 'A.'

A Model uses SK Telecom's AI assistant service “A.” in this photo provided by the company, Monday. Courtesy of SK TelecomBy Baek Byung-yeulSK Telecom launched its artificial intelligence (AI) agent service, focusing on business-to-customer mobile AI assistant service, the telecommunications company said Monday.The company said its new AI assistant service “A.” ― pronounced as “A dot” ― is different from existing AI assistants because users receive personalized services by creating their own characters for the assistant. While the existing services are at the level of answering voice-oriented commands, users can use voice commands to launch various kinds of mobile apps including SK Telecom's service apps, the company added.Lee Hyun-a, vice president and head of AI&CO at SK Telecom, introduces the company's new AI assistant service “A.” at its press room in Seoul, Monday. Courtesy of SK Telecom“We believe that the era of the AI agent will follow the era of PC and mobile devices. There is a growing need for a service that learns

May 16, 2022By Baek Byung-yeul
SK launches new AI assistant service 'A.'
Companies

CEOs trying to form ties with young employees

Kyung Kye-hyun, CEO of Samsung Electronics' Device Solutions division, left, speaks during an interview with the company's employee on Samsung's Semiconductor YouTube channel, May 13. Captured from Samsung Semiconductor YouTube channelBy Baek Byung-yeulSamsung, LG and other conglomerates' CEOs are working on strengthening their communication with the MZ generation, a Korean term referring to people born in the period from the early 1980s through to the early 2000s. As the younger generation is now taking the center stage in each company, such efforts are interpreted as a move to get closer to young employees and facilitate communication within the company, according to industry officials, Sunday.“When we thought of what CEOs looked like in the past, there was a strong image of giving instructions and orders to employees with a stern look. It's different now. Employees nowadays have less loyalty to their companies than their predecessors, so the CEOs want to show that they are taking care of their employees,” an official from a local conglomerate said on condition of anony

May 15, 2022By Baek Byung-yeul
CEOs trying to form ties with young employees
Companies

HLB gets positive Phase 3 data with liver cancer treatment

By Baek Byung-yeulThe captured image shows how HLB's anticancer treatment Rivoceranib prevents growth of tumors. Captures from HLB's webpageHLB has taken a step closer to the global commercialization of its anticancer treatment Rivoceranib as it secured statistical significance in Phase 3 global clinical trials of the drug, according to the local biotech company, Sunday.The company recently announced the Phase 3 results of the first global clinical trial of treatment for liver cancer using both Rivoceranib and Camrelizumab, which showed that the two treatments succeeded to meet primary endpoints, which means that both the efficacy and versatility of Rivoceranib has been proven, HLB explained.HLB holds the global rights for Rivoceranib while China's Jiangsu Hengrui Medicine holds the global rights of Camrelizumab.“The Phase 3 trials for liver cancer treatment, which began in April 2019, were conducted on 543 patients in 13 countries including Korea, the United States and China,” a company spokesman said. “Cancer cells need oxygen and nutrients to grow and Rivoceranib

May 15, 2022By Baek Byung-yeul
HLB gets positive Phase 3 data with liver cancer treatment
Companies

Seoul E-Prix to be 'best car race ever held in Korea'

Jeong Joo-won, CEO of Formula E Korea, poses during an interview with The Korea Times at the newspaper's headquarters in Seoul, Friday. Korea Times photo by Shim Hyun-chulBy Baek Byung-yeulThe Seoul E-Prix, a Formula E electric vehicle (EV) racing competition, will offer residents a rare chance to enjoy an exciting EV race as well as other entertaining events in the capital city, according to the organizer on Friday, who promised “the best racing event Korea has ever hosted.”“Motor sport is a sport that can be enjoyed when a country's income level rises to a certain level. The Formula E competition is held in the middle of the city and sees the young generation and families as its main target,” Jeong Joo-won, CEO of Formula E Korea, said during an interview with The Korea Times at the newspaper's headquarters in Seoul. Organized by the International Automobile Federation (FIA), the Seoul E-Prix will be held for the first time in Seoul on Aug. 13 and 14. Initially, the event was scheduled to be held in 2020, but delayed to this year due to the COVID-19 pandemic

May 13, 2022By Baek Byung-yeul
Seoul E-Prix to be 'best car race ever held in Korea'
previous page
173174175176177
next page

Top 5 stories

Korea Times
About Us
Introduction
History
Contact Us
Products & Services
Subscribe
E-paper
RSS Service
Content Sales
Site Map
Policy
Code of Ethics
Ombudsman
Privacy Policy
Youth Protection Policy
Terms of Service
Copyright Policy
Family Site
Hankookilbo
Dongwha Group
FacebookXYoutubeInstagram
CEO & Publisher: Oh Young-jinDigital News Email: webmaster@koreatimes.co.krTel: 02-724-2114Online newspaper registration No: 서울,아52844Date of registration: 2020.02.05Masthead: The Korea TimesCopyright © koreatimes.co.kr. All rights reserved.