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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

Korean companies scrambling to connect with Biden administration

By Baek Byung-yeulSamsung, LG, POSCO, Coupang and other Korean companies are rushing to hire Korea-friendly former U.S. politicians and bureaucrats to more effectively respond to rapidly changing political and business conditions in the world's largest economy, according to company officials and analysts Tuesday.They said there has been growing need in recent years for companies to strengthen their ability to lobby the Biden administration and Congress as they expand in the U.S. By opening offices in Washington, D.C., and appointing former political figures and administration officials as their public affairs executives, Korean firms have been seeking to convey their opinions successfully to American policymakers and thus deal more flexibly with any policy changes there.“The hiring of bureaucrats or politicians familiar with Washington's situation at local U.S. offices is aimed at appealing and representing Korean corporate interests in the U.S. government's policy changes such as supply chain issues,” said an official at the Korea Chamber of Commerce and Industry (KCCI).

Feb 22, 2022By Baek Byung-yeul
Korean companies scrambling to connect with Biden administration
Tech & Science

Moon's renewable energy push faces backlash

Fishermen in South Jeolla Province hold a rally at a port in Mokpo urging the government to scrap its plan to install offshore wind power facilities, Feb. 16. Yonhap Hasty push for wind, solar energy criticized for various side effectsBy Baek Byung-yeulThe Moon Jae-in administration's drive to increase the use of solar, wind and other renewable energy has been facing resistance from farmers, fishermen and environmental activists after spawning a range of side effects, according to critics, Tuesday.Fishermen are protesting the installation of wind power generators in the sea citing harm to the marine ecosystem and endangering their livelihoods. In addition, solar power generation facilities have been extensively installed in fields and on mountains, leading to opposition from residents of those areas for damaging the natural environment.Experts pointed out that the government is trying to forcefully increase the proportion of renewable energy in line with its plan to

Feb 22, 2022By Baek Byung-yeul
Moon's renewable energy push faces backlash
Politics

Lee, Yoon differ over how to support industries

Lee Jae-myung, the presidential candidate of the Democratic Party of Korea, greets people attending an online conference and announces his digital industry policy in Seoul, Jan. 11. Korea Times photo by Oh Dae-geunLee promises government-led investment, Yoon vows for private-led economic innovationBy Baek Byung-yeulKorea's economy has been struggling with the side effects of the COVID-19 pandemic and the ongoing trade dispute between the United States and China. At a time when it is important to lift Korea's growth potential, the two leading presidential candidates ― Lee Jae-myung of the Democratic Party of Korea and Yoon Suk-yeol of the People Power Party ― have shown differences in their industry, science and technology and energy policies.Ahead of the March 9 presidential election, the two leading candidates are generally suggesting similar visions with regards to achieving digital transformation; strengthening the country's core industrial sectors, such as semiconductors and batteries; and speeding up the energy transformation which are all crucial for the country to turn the ser

Feb 20, 2022By Baek Byung-yeul
Lee, Yoon differ over how to support industries
  • Ahn drops proposal to merge campaigns, vows to finish race on his own
Companies

Genesis wins best car awards in Canada

The Genesis GV80 SUV / courtesy of Hyundai Motor GroupBy Baek Byung-yeulThree models of Genesis won the Car of the Year awards category selected by the Automobile Journalists Association of Canada (AJAC), Hyundai Motor Group said Friday.The luxury car brand's G70 sedan, GV70 SUV and GV80 SUV were recognized by Canadian journalists, winning the Best Small Premium Car; the Best Mid-Size Premium Utility Vehicle; the Best Large Premium Utility Vehicle awards, respectively.The association announced the best-received cars after 50 journalists tested more than 250 vehicles and evaluated them on 20 characteristics, including exterior design, loading space, convenience and entertainment functions, NVH (noise, vibration and harshness), engine and transmission.The Genesis G70 sedan / courtesy of Hyundai Motor GroupThe G70 scored high in performance, dynamic design and in its overall evaluation. The GV80 won the award for the second time following the 2021 SUV of the Year award it won last year. The GV70 scored high in interior design, boarding environment, manufacturing completeness and overall

Feb 18, 2022By Baek Byung-yeul
Genesis wins best car awards in Canada
Tech & Science

Kakao Mobility hit by presidential candidates for high fees

Vehicles using the cab-hailing platform, KakaoT, are parked in a parking lot in Seoul in this Sept. 14, 2021 photo. Yonhap By Baek Byung-yeulKakao Mobility has been targeted by leading presidential candidates ahead of the March 9 presidential election.The two leading presidential candidates ― Lee Jae-myung of the ruling Democratic Party of Korea (DPK) and Yoon Suk-yeol of the main opposition People Power Party (PPP) ― have both said that Kakao Mobility, which operates a taxi-hailing platform, receives too much money from consumers and taxi drivers. They both added that if they become president, the new government will come up with measures such as launching a government-led taxi-calling platform.Kakao Mobility is the country's largest ride-hailing service with a market share of around 80 percent. By logging on to the company's Kakao T mobile app, consumers can use taxi-hailing and chauffeur service and rent bicycles, as well as making reservation for train tickets a

Feb 18, 2022By Baek Byung-yeul
Kakao Mobility hit by presidential candidates for high fees
Tech & Science

New BESPOKE appliances

Lee Jae-seung, president and head of Samsung Electronics' digital appliances business, poses with the company's new BESPOKE home appliances at a company store in Seoul, Thursday. The company launched its BESPOKE Infinite premium line, which includes kitchen appliances such as ovens, induction cooktops, dishwashers, refrigerators and range hoods. Courtesy of Samsung Electronics

Feb 17, 2022By Baek Byung-yeul
New BESPOKE appliances
Companies

HLB's US affiliate Verismo sets up Asia headquarters in Korea

HLB Group Chairman Jin Yang-gon, right, poses with Verismo Asia CEO Byung-girl Lee, second from left, and Verismo Therapeutics CEO Bryan Kim, second from right, Feb. 14. Courtesy of HLBBy Baek Byung-yeulVerismo Therapeutics, a new drug development company based in the U.S., established its Asia branch in Korea as part of its plan to facilitate clinical trials of its anti-cancer drug platform in the Asia region, the Korean biotech company HLB said Tuesday.HLB Group is a major shareholder of Verismo Therapeutics, as HLB Pharmaceutical and HLB invested $10 million and $5 million, respectively, in 2021 to acquire a 30 percent stake in the U.S.-based company.Verismo is a biotech company established by a University of Pennsylvania research team. The team led the development of Novartis' Kymriah, the world's first chimeric antigen receptor-T (CAR-T) treatment for hematological cancers approved by the U.S. Food and Drug Administration. Verismo has its own SynKIR platform that can express a multi-chain receptor similar to the receptor structure mainly expressed in natural killer (NK) cells, w

Feb 15, 2022By Baek Byung-yeul
HLB's US affiliate Verismo sets up Asia headquarters in Korea
Companies

CJ Logistics hurt by prolonged dispute with delivery workers

Parcel delivery workers belonging to the Korean Confederation of Trade Unions occupy CJ Logistics' headquarters building in Seoul, Monday. YonhapBy Baek Byung-yeulCJ Logistics CEO Kang Sin-hoCJ Logistics has been in a prolonged dispute with a national parcel delivery union that has been on strike for nearly two months, according to company officials and industry analysts Tuesday.The union has been claiming that the country's largest parcel delivery company took most of the profits it earned from a delivery fee increase, but company management refutes the claim, saying the revenue from the increase was used appropriately to improve the conditions of workers and consequently filed a complaint with the police against the union members that occupying its headquarters building.They expressed concerns Tuesday about the situation in which the management and the union are strongly confronting each other. They said if the union continues to strike for a long time, it could result in negative effects to consumers who use the courier service as well as worsen the company's earnings.Furthermore,

Feb 15, 2022By Baek Byung-yeul
CJ Logistics hurt by prolonged dispute with delivery workers
Tech & Science

Game companies bet on deregulation of play-to-earn business model

Seen is an image of Natris' mobile game, “Infinite Breakthrough Three Kingdoms Reverse.” The game was Korea's first play-to-earn blockchain game, but the game service was suspended in December, 2021, as the government cancelled the rating classification. Screenshot from Natris' webpage By Baek Byung-yeulNexon, NCSOFT, Netmarble and other Korean game companies are focusing on play-to-earn (P2E) games as their next growth engine. P2E allows gamers to earn real money from playing games and performing other services in the virtual environment using cryptocurrency, in what is becoming a new trend in the global gaming market, according to industry analysts Monday.Whether it is a large company or a small one, P2E games are being developed or targeting overseas markets, but Korean companies are not able to use these products in Korea due to government regulations that have been put in place because these types of games are not easy to control, due to various problematic sid

Feb 14, 2022By Baek Byung-yeul
Game companies bet on deregulation of play-to-earn business model
Tech & Science

Samsung Display bolsters IP protection to widen OLED tech gap

Samsung Display's Diamond Pixel structure, left, used for its OLED display is more accurate than traditional square-shaped pixel structure in terms of expressing sharp and fine patterns such as straight and diagonal lines. Courtesy of Samsung DisplayBy Baek Byung-yeulSamsung Display is taking measures to protect its intellectual property (IP) particularly related to organic light-emitting diode (OLED) technologies, seeking to widen the gap with its competitors through the steps, the display arm of Samsung Electronics said Sunday.The company, leader in the global small- and medium-sized display market, emphasized its protective activities are urgently needed at a time when Chinese rivals are accelerating investment in OLED displays.Due to competitors' improvements in OLED technology, which have been regarded as more advanced than liquid crystal displays (LCD), Samsung Display's top status in the OLED market is also under threat.The display maker is seeking various ways to protect its technology assets as Chinese makers are increasingly recruiting Korean OLED engineers in attempt to ac

Feb 13, 2022By Baek Byung-yeul
Samsung Display bolsters IP protection to widen OLED tech gap
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