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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

Samsung Galaxy S22 series aims to beat previous models in sales volume

Customers try out Samsung Electronics' Galaxy S22 smartphone at a company store in Hongdae, Seoul, Sunday. Courtesy of Samsung ElectronicsKorean tech giant begins preorders for Galaxy S22 MondayBy Baek Byung-yeulSamsung Electronics said Sunday it will begin receiving preorders for its newest Galaxy S22 smartphone series. All eyes are on whether the S22 series will be able to achieve higher sales than the S21, as the new premium phone offers better camera performance and a stylus pen, which used to be seen in the Galaxy Note series.The S22 series consists of three variations: the S22 with a 6.1-inch display, the S22+ with a 6.6-inch display and the 6.8-inch S22 Ultra with an S Pen stylus. They are priced between 999,900 ($833) and 1.55 million won each. They will officially hit the Korean market Feb. 25.The company claimed that the latest S series has been significantly improved with large image sensors for better picture quality, even in night conditions. Its processing chips are made of 4-nanometer technology for the first time among the Galaxy phones, which means faster processing

Feb 13, 2022By Baek Byung-yeul
Samsung Galaxy S22 series aims to beat previous models in sales volume
Tech & Science

KT set to become digital platform company

KT's AI secretary service, installed at a bakery in Seoul, helps a store owner by taking reservations, last Oct. 25. Courtesy of KTBy Baek Byung-yeulKT's business strategy to become a digital platform company, providing media, a mobile platform, artificial intelligence (AI) and cloud computing services, is making successful changes, generating a meaningful earnings performance.The telecommunications company unveiled its earnings for 2021, Wednesday, showing 40 percent of its sales occurred in its non-telecommunications businesses. The company announced that its sales and operating profit for 2021 stood at 24.89 trillion won ($20.8 billion) and 1.67 trillion won, respectively, up 4.1 percent and 41.2 percent from a year earlier.The company had been aiming to generate an operating profit of more than 1 trillion won in 2022, but achieved the goal earlier than expected.“We achieved our 2022 operating profit target early in 2021 thanks to stable sales growth in the telecom sector and the expansion of our business-to-business (B2B) platform through our digital transformation effort,&

Feb 10, 2022By Baek Byung-yeul
KT set to become digital platform company
Companies

Reporter's Notebook Skepticism of corporate support for Olympic sports shortsighted

Rep. An Min-suk of the ruling Democratic Party of Korea, speaks during a conference held at the party's headquarters in Seoul, Jan. 5. Korea Times photo by Oh Dae-geunBy Baek Byung-yeulOn Wednesday, Rep. An Min-suk of the ruling Democratic Party of Korea cited Samsung's involvement as “a core reason” for the controversy over biased judging that took place at the Beijing Winter Olympics on Feb. 5, leading to the disqualification of two Korean short track speedskaters.The lawmaker blamed Samsung's lack of funding support for these disqualifications that resulted in favor of China's skaters at the Winter Olympics. After having supported Korean ice skating ― including short track speedskating ― since 1997, Samsung withdrew its support in 2016 after its vice chairman was accused of having bribed former President Park Geunhye, in what was referred to as a “corporate manipulation of state affairs.” “I want to talk about Samsung for a core reason,” An said, adding, “Samsung has supported the Korea Skating Union for 20 years since 1997 and played a ro

Feb 10, 2022By Baek Byung-yeul
[Reporter's Notebook] Skepticism of corporate support for Olympic sports shortsighted
Tech & Science

Samsung unveils new Galaxy S22 smartphones

Roh Tae-moon, president and head of MX Business at Samsung Electronics, introduces the company's new Galaxy S22 smartphones, Wednesday. Courtesy of Samsung ElectronicsBy Baek Byung-yeulSamsung Electronics unveiled the Galaxy S22, its latest flagship smartphone, Thursday, with a variety of models ranging from large-screen devices with a built-in S Pen stylus to small but high-performance smartphones.The global smartphone leader said Thursday the Galaxy S22 smartphones come with three variations ― the S22 with a 6.1-inch display, the S22+ with a 6.6-inch display and the 6.8-inch S22 Ultra with an S Pen stylus as has been seen in previous Galaxy Note phones. They will hit the global market on Feb. 25.Samsung Electronics' new Galaxy S22 smartphones / Courtesy of Samsung ElectronicsRoh Tae-moon, president and head of Samsung's MX Business, said the Galaxy S22 Ultra is specially designed to offer the “ultimate and most premium S series experience,” as the 6.8-inch display model comes with a built-in S Pen, as well as featuring advanced video capabilities and extended battery li

Feb 10, 2022By Baek Byung-yeul
Samsung unveils new Galaxy S22 smartphones
Tech & Science

WTO ruling to bolster Samsung, LG in US

LG Electronics' washing machine-manufacturing plant in Tennessee / Courtesy of LG ElectronicsKorea wins WTO ruling in washing machine dispute with USBy Baek Byung-yeulThe latest ruling by the World Trade Organization (WTO) over the Trump-era washer safeguard tariffs is expected to provide an impetus for Korean firms to strengthen their presence in the United States as the decision will clear uncertainties associated with the trade dispute, industry sources said Wednesday.They expect that tariffs imposed on Samsung Electronics, LG Electronics and other Korean companies could be lifted in the U.S. as the WTO ruled against Washington's trade restriction measures on washing machines made by Korean companies.On Tuesday, the WTO said the U.S. violated international trade obligations by imposing tariffs on Korean exports of washing machines. In February 2018, the Donald Trump administration accepted claims from domestic companies such as Whirlpool that imported washers caused great damage to them and began imposing a 20 percent tariff on the 1.2 million imported washers produced by foreign

Feb 9, 2022By Baek Byung-yeul
WTO ruling to bolster Samsung, LG in US
Companies

Olympic marketing losing ground on trade tussle, anti-China sentiment

Olympic athletes test Samsung Electronics' smartphone in this Jan. 30 photo. Courtesy of IOCBy Baek Byung-yeulThe Olympic Games have been a great platform for companies to market products and services, but the ongoing Winter Games in Beijing are losing ground as a promotion tool due to criticism from the international community over China's human rights abuses and the prolonged U.S.-China trade tussle.To make matters worse, Korean companies are refraining from Olympic-related marketing as much as possible as the sentiment toward China is reaching its worst here after a woman dressed in traditional Korean clothing appeared representing an ethnic minority of China during the opening ceremony of the Games as well as Monday's short track speed skating event that was biased in favor of Chinese skaters.Samsung Electronics and LG Electronics, Korea's two IT giants, are also maintaining a low profile in their Olympic marketing as they are not conducting active promotional events during the Olympic season.Company officials said Tuesday that the international community is minimizing marketing

Feb 8, 2022By Baek Byung-yeul
Olympic marketing losing ground on trade tussle, anti-China sentiment
  • Financial firms keep low profile at Winter Olympics
Tech & Science

LG Energy Solution's earnings fall short of market consensus

LG Chem to beef up battery material bizBy Baek Byung-yeulKwon Young-soo, vice chairman of LG Energy Solution / Courtesy of LG Energy SolutionLG Energy Solution posted lower-than-expected earnings in 2021 due to the prolonged shortage of automotive semiconductors and soaring prices for battery materials. The battery maker said Tuesday it will work on improving its battery manufacturing capability by increasing facility investments this year.The battery company said its 2021 sales came to 17.85 trillion won ($14.9 billion) while posting an operating profit of 768.5 billion won. Its October-December sales and operating profit came to 4.43 trillion won and 75.7 billion won, respectively.At the beginning of 2021, the company announced its estimate for sales that year could come to 18.9 trillion won, but ultimately it failed reach that goal, increasing by 42 percent compared the year before.“It fell slightly short of its 18.9 trillion won sales target for 2021 due to unfavorable external business factors such as the automotive semiconductors shortage and rising prices of major raw ma

Feb 8, 2022By Baek Byung-yeul
LG Energy Solution's earnings fall short of market consensus
Companies

Samsung Electronics shareholders cynical about workers' strike

Union members of Samsung Electronics visit the National Labor Relations Commission office in Sejong to apply for mediation between the union and the company, Feb. 4. Yonhap By Baek Byung-yeulShareholders of Samsung Electronics are responding coldly to the company's union that revealed recently it may go on strike demanding higher wages, according to securities analysts Monday.Online bulletin boards for Samsung's shareholders have been flooded with postings criticizing the union's demands.They are accusing the employees of hindering the growth potential of Samsung, which is competing fiercely with tech behemoths in the global market now, by making excessive demands such as asking for 25 percent of the company's operating profit be put toward incentives.In reaction to the union's demands, experts said that making unrealistic demands while hurting the company's growth potential is a move that considers individual workers' interests before co-prosperity with their emplo

Feb 7, 2022By Baek Byung-yeul
Samsung Electronics shareholders cynical about workers' strike
Companies

Korean companies capitalize on sustainable consumption

Samsung Electronics said Monday that it developed a new material by recycling abandoned fishing nets like the one pictured above for its new Galaxy devices. Courtesy of Samsung ElectronicsBy Baek Byung-yeulSamsung Electronics, LG Electronics and food and beverage companies such as Lotte Chilsung and Dongwon F&B are capitalizing on the expanding sustainable consumption trend by making their products using eco-friendly materials.The companies said Monday they are trying to minimize the negative impact on the environment by producing eco-friendly products and motivating their consumers to pursue a more sustainable lifestyle. At a time when companies are being required to implement environmental, social and governance (ESG) values, their added efforts to develop more eco-friendly products will be a crucial indicator of corporate competitiveness.Samsung Electronics said it developed a new material using ocean bound plastics such as discarded fishing nets for its new Galaxy S22 smartphone, which will be introduced on Feb. 9. The IT giant said the move shows its effort to combine sustai

Feb 7, 2022By Baek Byung-yeul
Korean companies capitalize on sustainable consumption
Tech & Science

Global tech giants urged to contribute more in Korea

Apple is criticized for paying less corporate tax than in other countriesBy Baek Byung-yeulApple, Google, Netflix, Meta and other tech giants doing business here have been criticized for shifting most of their profits abroad, paying less corporate taxes and spending a minimum to fulfill their social responsibility activities, according to industry analysts and experts Friday. These multinational companies earn trillions of won in Korea every year, but they pay ridiculously small taxes based on the fact they don't have manufacturing facilities or computing servers operating here, they said.According to a report unveiled by independent lawmaker Yang Jung-suk on Feb. 2, Apple paid only a quarter of the corporate tax rate to Korea compared to its overall payment rate, by raising the price of goods sold to lower its operating profit. Her report is based on an analysis of Apple's report submitted to the New York Stock Exchange in 2021 and an audit report on Apple Korea the same year. She is a member of the National Assembly's Science, ITC, Broadcasting and Communication Committee.“Ap

Feb 6, 2022By Baek Byung-yeul
Global tech giants urged to contribute more in Korea
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