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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

Yoon gov't to counter China's tech advances

Samsung Display's headquarters in Asan, South Chungcheong Province / Courtesy of Samsung DisplayBy Baek Byung-yeulThe incoming Yoon Suk-yeol administration is expected to introduce measures to help local companies in displays, semiconductors and other high-tech industries maintain their competitive edge over rapidly growing Chinese rivals, according to company officials Tuesday.The transition committee of President-elect Yoon Suk-yeol called in officials from display companies, such as Samsung Display and LG Display, and academic experts last weekend to gather opinions on the rapid rise of the Chinese display industry, according to the officials.“The committee member met with officials from the display industry and academia to learn about the industry's current situation,” an official from a local display firm said on condition of anonymity.The transition committee is said to have listened to industry opinions on ways to widen the technology gap to overcome China's pursuit and started an internal review. The move is in line with the incoming president's vision to create m

Apr 26, 2022By Baek Byung-yeul
Yoon gov't to counter China's tech advances
Companies

HLB posts earnings surprise in Q1

HLB Chairman Jin Yang-gon / Courtesy of HLBBy Baek Byung-yeulLocal biotech company HLB posted sales and operating profit records for the first quarter. The company announced on April 25 that its quarterly sales rose a whopping 1,052 percent from the same period in 2021 to 63.4 billion won ($50.8 million). Its operating profit also came to 18.8 billion won to turn into a surplus. Both sales and operating profit figures were the highest ever recorded by the company.The company said the improved performance was possible thanks to its healthcare division, loyalty fees for exports of its gastric cancer treatment and its shipping business.The healthcare division, which mainly manufactures and sells in vitro diagnostic tools, gave an especially big boost to the company's earnings. In January, the company acquired FA, a company specialized in in vitro diagnostic medical devices, and reorganized it into its Healthcare Business Division.Due to the recent impact of COVID-19, the division saw skyrocketing sales of its diagnostic devices and its sales increased to 120 billion won in 2021 from 8.7

Apr 26, 2022By Baek Byung-yeul
HLB posts earnings surprise in Q1
Tech & Science

US chip firm Lam Research opens R&D center near Samsung

Lam Research's R&D center in Yongin, Gyeonggi Province / Courtesy of Lam Research KoreaBy Baek Byung-yeulLam Research, a U.S.-based semiconductor equipment company, opened its R&D center in Yongin, Gyeonggi Province, Tuesday.The U.S. company is expected to further strengthen its partnership with Korean chip companies, given the research center is close to Samsung Electronics' factory in Yongin's Giheung District and is at the center of the K-Semiconductor Belt industrial complex, a government-led initiative.“Located in the Jigok Industrial Complex in the heart of Korea's K-Semiconductor Belt, the R&D center's proximity to customers will enable closer collaboration and accelerated development of solutions across the full range of the chip-making processes offered by Lam,” Lam Research's Korean unit said.Lam Research plans to operate the Lam Research Korea Technology Center (KTC) as a core base for its global R&D network.“As the semiconductor equipment sector becomes increasingly important, we expect the opening of Lam Research KTC to contribute to str

Apr 26, 2022By Baek Byung-yeul
US chip firm Lam Research opens R&D center near Samsung
Companies

Hyundai Motor's Q1 operating profit jumps 16% to 1.9 tril. won

Hyundai Motor Group's Genesis luxury-brand GV80 SUV / Courtesy of Hyundai Motor GroupBy Baek Byung-yeulChung Euisun, chairman of Hyundai Motor GroupHyundai Motor displayed better-than-expected performance in the first quarter of this year, on the back of increased sales of high-priced cars such as its luxury brand Genesis models and SUVs, despite production disruptions caused by supply chain instability, the carmaker said Monday.The company said its first-quarter operating profit hit 1.92 trillion won ($1.53 billion), rising by 16.4 percent compared to the same period last year. Its sales also increased by 10.6 percent to 30.29 trillion won from a year ago.“Although the number of car sales fell year-on-year in the first quarter due to a lack of production caused by a global supply shortage of semiconductors and other parts, operating profit increased year-on-year thanks to improved sales mix centered on Genesis cars and SUVs,” a company spokesman said.Hyundai sold 902,945 vehicles in the global market during the January-March period, down 9.7 percent compared to the same

Apr 25, 2022By Baek Byung-yeul
Hyundai Motor's Q1 operating profit jumps 16% to 1.9 tril. won
Tech & Science

Webtoons become hot items for business expansion among platform operators

A webpage for Woowa Brothers' online comics service Manhwakyung / Captured from ManhwakyungBy Baek Byung-yeulWebtoons have become a hot item for online platform operators such as Woowa Brothers and Watcha as companies realize the effectiveness of online comics to diversify their business portfolios, according to industry officials, Monday.The officials said the webtoon business is one of the ways to lock in customers by providing additional services to users of their platforms.As the importance of intellectual property (IP) has increased for platform operators, companies are starting or beefing up their webtoon business in order to utilize IPs secured by web comics in other areas such as dramas, games and advertisements.“The so-called one source, multiuse strategy of using one IP for various businesses is becoming increasingly important for platform operators,” an official at a local webtoon company said, asking for anonymity.“Prominent companies such as Naver and Kakao make profits from dramas and movies made with their webtoon IPs and expand their influence in ove

Apr 25, 2022By Baek Byung-yeul
Webtoons become hot items for business expansion among platform operators
Companies

LG Energy Solution steps up to join RE100

By Baek Byung-yeulKwon Young-soo, CEO of LG Energy Solution / Courtesy of LG Energy SolutionLG Energy Solution is actively seeking to join the Renewable Energy 100 (RE100) initiative at its business sites, as the battery cell maker moves to expand its renewable energy distribution by purchasing a wind and solar power energy-based renewable energy certificate (REC) from Jeju Island, the company said Sunday.In April 2021, LG Energy Solution announced it will join RE100, a global initiative of businesses committed to 100-percent renewable energy, for the first time among battery cell makers here. In RE100, 100 percent of the electricity a company uses is converted from a renewable energy source.The company said that it has purchased a 23-gigawatt-hour certificate from Jeju Energy Corporation, the Jeju Provincial Government and the Dongbok-ri area of the southern resort island to expand the distribution of renewable energy produced at its Ochang plant in North Chungcheong Province.With the purchase of the certificate, the Ochang plant's rate of renewable energy conversion ― which refers

Apr 24, 2022By Baek Byung-yeul
LG Energy Solution steps up to join RE100
Companies

Samsung continues to foster homegrown software developers

A trainee of Samsung Software Academy for Youth delivers a presentation about computer software development at the academy's Seoul campus, April 8. Courtesy of Samsung ElectronicsBy Baek Byung-yeulLogo for Samsung Electronics / Courtesy of Samsung ElectronicsSamsung Electronics is continuing efforts to foster homegrown computer software developers as part of its corporate social responsibility activities by offering training courses to tech workers through Samsung Software Academy for Youth (SSAFY) since 2018.The company recently announced that it will recruit trainees at SSAFY for the second half of 2022 from May 2 to May 16. The SSAFY will select a total of 1,150 students and start a one-year software training course on five campuses nationwide from July.The program, which recruits trainees twice a year, steadily increased the number of trainees starting with the first 500 in December 2018. From the first half of this year's program, the number of trainees was expanded to 1,150.Sponsored by the Ministry of Employment and Labor, SSAFY is a corporate social responsibility program lau

Apr 24, 2022By Baek Byung-yeul
Samsung continues to foster homegrown software developers
Tech & Science

LG Electronics adds lawn mower to robot lineup

LG Electronics' lawn mowing robot / Courtesy of LG ElectronicsBy Baek Byung-yeulLG Electronics has launched a lawn mowing robot targeting consumers in Korea, in order to boost its presence in the country's market for such products, which is increasing due to the diversification of housing types such as private residences and townhouses, the company said Sunday.LG has already been supplying its lawn mowers to U.S.-based lawn mower company B&S for the overseas market, but the company developed a new autonomous lawn mower, fully optimized for the type of grass Koreans commonly grow, after conducting a two-month-long field test here.“We conducted test operations with 50 customers for two months. We also held field tests at the Daejeon National Cemetery and archery clubs in a bid to reflect user opinions on product performance,” an LG spokesman said.Based on test operations, the lawn mower has been optimized to cut grass to a length of 2-centimeters as the company learned that Korean customers prefer this length. The machine can cover up to 3,000 square meters of lawn and

Apr 24, 2022By Baek Byung-yeul
LG Electronics adds lawn mower to robot lineup
Tech & Science

Samsung SDI capitalizes on batteries for wearable devices

Samsung SDI's batteries for wearable devices are displayed at the InterBattery exhibition at the COEX convention center in Seoul in this March photo. Courtesy of Samsung SDI By Baek Byung-yeulSamsung SDI is capitalizing on batteries used for wearable devices as smartwatches and wireless earbuds are becoming everyday items, the company said Friday.Since launching curved battery cells for smart bands that boasted the industry's largest power-storage capacity in 2014, the company has released various kinds of small-sized batteries for the wearable device markets, bolstering its status as a leading company in batteries for wearable devices.“Thanks to its hexagonal shape, our battery helped maximize the space efficiency of wearable devices as manufacturers can use more room inside their gadgets compared to using conventional square pouch-type batteries,” a company official said.The batteries for wearable devices are manufactured in various forms reflecting the characteri

Apr 22, 2022By Baek Byung-yeul
Samsung SDI capitalizes on batteries for wearable devices
Tech & Science

HLB succeeds in testing hydrogen-powered ship

HLB tests a hydrogen cell-powered vessel on the Taehwa River in Ulsan, April 21. Courtesy of HLB By Baek Byung-yeulHLB, a manufacturer of ships and pharmaceutical products based in the southeastern port city of Ulsan, succeeded in testing a hydrogen-powered ship called Bluebird, taking a step toward the commercialization of ships using eco-friendly energy, the company said Friday.HLB has built more than 8,000 lifeboats and special-purpose ships for the past 47 years. The company was also chosen by the Ministry of SMEs and Startups for an eco-friendly hydrogen-powered small ship production project. It succeeded in developing the country's first hydrogen-powered ships after three years of research and development.The company conducted the test on the Taehwa River in Ulsan on April 21.“The Bluebird hydrogen-powered ship ran back and forth along the river for 40 minutes to check its performance,” a company spokesman said.The hydrogen-powered ship is 11.95 meters long an

Apr 22, 2022By Baek Byung-yeul
HLB succeeds in testing hydrogen-powered ship
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