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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

Hyundai Motor salesman earns 'Master Seller' award

Kim Ju-seon, a sales manager at Hyundai Motor / Courtesy of Hyundai MotorBy Baek Byung-yeulA Hyundai Motor salesman won the “Master Seller” title bestowed upon salespeople who have sold more than 5,000 cars, the carmaker said Thursday.Hyundai Motor said that Kim Ju-seon, the sales manager at the company's Uijeongbu branch in Gyeonggi Province, became a Master Seller for selling 5,000 cars over the 27 years he has been with the company.The Master Seller title is the highest honor given to salespeople and is a difficult status to reach, with only 14 people listed so far before Kim, the company said.Upon receiving the award, Kim said he was able to earn the title based on his power of conversation with customers and an understanding of their needs.“I am always trying to value the time of customers who trust me and visit me. Whenever I've had meetings with customers, I have recommended the most suitable cars for each person. Also I take responsibility for customers even after a sale,” Kim said.Revealing his goal, the manager said, “I will prepare for the fut

Feb 3, 2022By Baek Byung-yeul
Hyundai Motor salesman earns 'Master Seller' award
Companies

Samsung beefs up safety steps in response to industrial accident law

Employees enter Samsung Electronics' facility in Suwon in this June 11 2020 file photo. Korea Times photo by Hong In-kiBy Baek Byung-yeulSamsung Electronics has banned its employees from using their smartphones while walking, and people must now wear helmets while using bicycles at its major worksites, as part of its moves to respond to a new workplace disaster law, company officials said Wednesday.The officials said the company's Device eXperience (DX) Division informed its employees recently that it will implement five safety rules in order to ensure workplace safety.“We began implementing five safety regulations at major workplaces such as the Suwon facility starting from Jan. 24,” a company spokeswoman said.The five safety rules include prohibitions on jaywalking, the use of smartphones while walking and while driving, a speed limit for vehicles on company facilities and mandatory helmets while riding bicycles. “Not using phones while walking has been a recommendation since 2016, but it has now been banned,” the official added.Visitors to the worksites wil

Feb 3, 2022By Baek Byung-yeul
Samsung beefs up safety steps in response to industrial accident law
Companies

Korean companies on edge due to mounting Russia-Ukraine tension

Russian President Vladimir Putin gestures while speaking to the media during a joint news conference with Hungary's Prime Minister Viktor Orban following their talks at the Kremlin in Moscow, Tuesday. AP-YonhapBy Baek Byung-yeul, Park Jae-hyukLarge Korean companies including Samsung Electronics, LG Electronics, Hyundai Motor and POSCO are closely monitoring increasing military tensions between Russia and Ukraine, bracing for significant disruptions in their operations in Eastern Europe if a war breaks out, company officials said Wednesday.The officials said a Russian invasion of Ukraine will not only impact their operations, but will expose Korea to U.S. pressure to join economic sanctions against Moscow. These companies are also feared to suffer deteriorating profits due to soaring prices of oil and other raw materials.“Companies operating businesses in Russia are all closely watching the situation,” an official from an IT company here said. “The industry predicts that Russia and nearby regions will apparently have a negative impact on us, with markets disappearing

Feb 2, 2022By Baek Byung-yeul
Korean companies on edge due to mounting Russia-Ukraine tension
Tech & Science

Netmarble looking for cash cow in metaverse, blockchain

By Baek Byung-yeulBang Jun-hyuk, chairman of Netmarble, speaks during a press conference at the company's headquarters in Seoul, Thursday. Courtesy of NetmarbleNetmarble is actively seeking new business opportunities in the metaverse and blockchain sectors, as the convergence of these emerging technologies with games has become an irreversible trend, Bang Jun-hyuk, chairman of the company, said Thursday.“Until 2020, the blockchain business was questioned for its safety and stability, but since last year, blockchain technology has been applied to various industries, creating a consensus on the need to link the technology with existing businesses. So, Netmarble also decided to join the business in earnest starting this year,” the chairman said during a press conference.Bang said Netmarble's blockchain-related business will proceed in two ways. “Netmarble is focusing on games. We plan to release a game that combines with blockchain. Netmarble's subsidiary Netmarble F&C has a different direction as its priority goal is to create a blockchain ecosystem that can encom

Jan 27, 2022By Baek Byung-yeul
Netmarble looking for cash cow in metaverse, blockchain
Tech & Science

Samsung to readjust investment plans due to global supply chain disruption

Tech giant posts record sales of 279 tril. won in 2021By Baek Byung-yeulSamsung Electronics will readjust its 2022 investment plans in accordance with the rapidly changing business environment as it tries to deal more effectively with a host of uncertainties such as global supply chain disruptions, the company said Thursday.“There are various uncertainties, so we will continue to discuss specific investment plans,” a Samsung IR executive told investors during a fourth-quarter conference call in response to a question about this year's investment plan for semiconductors.“As the timing of bringing in equipment is getting longer due to supply chain issues, our investment plan will be established and implemented accordingly,” the executive said.To retain its leadership in the chip industry, Samsung made a record 48.2 trillion won ($40 billion) in facility investments in 2021. This was 9.7 trillion won more than the 38.5 trillion won invested in 2020.“Facility investment increased compared to 2020, especially in DRAM and NAND memory chips. We expanded the amo

Jan 27, 2022By Baek Byung-yeul
Samsung to readjust investment plans due to global supply chain disruption
Tech & Science

Patent trolls target Samsung Electronics

Tech giant urged to enhance in-company patent management, sign cross-licensesBy Baek Byung-yeulSamsung Electronics has increasingly become a target for non-practicing entities (NPEs), also known as patent trolls, who file lawsuits against the tech giant, demanding royalties based on their patents for similar technologies, according to industry analysts, Wednesday.Concerns have been growing that Korean companies are easy prey for these patent trolls, as seen in a recent case where Samsung was hit with a lawsuit from a former executive who had been in charge of intellectual property management of the company.Korean companies will continue to be embroiled in such lawsuits as they are at the top of the world in terms of the number of intellectual property, the analysts said, adding that the more patents they hold, the more lawsuits against them will increase.An NPE is a company or person holding patent rights. Instead of engaging in manufacturing or otherwise making use of their intellectual property, NPEs generate profits by patent trolling, or seeking licensing deals via negotiation.Ac

Jan 26, 2022By Baek Byung-yeul
Patent trolls target Samsung Electronics
Companies

LG, Samsung, SK race to secure supply of battery materials

By Baek Byung-yeulLG Energy Solution, Samsung SDI and SK Innovation are actively responding to increasing prices of raw materials for electric vehicle (EV) batteries as supply chain disruptions induced by several negative factors such as the U.S.-China trade row, the impact of the pandemic and fears of a Russian invasion of Ukraine.Company officials said Tuesday that they have been implementing various strategies to secure a stable supply of raw materials, such as securing overseas mining rights, investing in overseas miners and adding a production base to better facilitate connections with carmakers in other countries.The officials also said they don't see any major restrictions to their business as they have already signed long-term contracts with material suppliers. “Basically, battery prices are linked to orders for EVs and battery makers have reduced risks through long-term contracts with material suppliers. When price increases are prolonged, battery makers try to hedge risks through diversification of suppliers as well,” an official in the local battery industry sa

Jan 25, 2022By Baek Byung-yeul
LG, Samsung, SK race to secure supply of battery materials
Tech & Science

LG Electronics launches 'upgradable' home appliances

Ryu Jae-cheol, head of the Home Appliances & Air Solution business unit at LG Electronics, poses with the company's LG UP home appliances, Tuesday. Courtesy of LG ElectronicsBy Baek Byung-yeulLG Electronics will launch an upgradable home appliance system enabling users to constantly upgrade to new products in both hardware and software products, the company said Tuesday.LG said around 20 home appliances such as washing machines, dryers, refrigerators, dish washers, air conditioners and air purifiers will be released under the LG UP product lineup this year. It has developed the UP home appliances to meet the needs of consumers who want a  better user experience with home appliances.“The goal of the UP home appliances is to provide a product experience that is new and smarter by communicating with users,” Ryu Jae-cheol, head of LG's Home Appliances & Air Solution business unit said during an online press conference.Software-wise, consumers can upgrade their UP appliances' features via the LG ThinQ smartphone application. Using the ThinQ app, consumers can be n

Jan 25, 2022By Baek Byung-yeul
LG Electronics launches 'upgradable' home appliances
Companies

HanmiGlobal in spotlight as need emerges for construction safety control

By Baek Byung-yeulHanmiGlobal Chairman Kim Jong-hoonHanmiGlobal has been in the spotlight, as the construction project management company is expected to expand into managing urban development projects such as the reconstruction of existing apartment complexes, an industry official and analyst said Monday.The company is the country's largest player in the field of developing, handling and executing construction projects, generating profits by managing the construction of large buildings, infrastructure and overseas plants.However, the market thinks HanmiGlobal will be able to expand its footprint in the apartment reconstruction sector as its capability to safely manage construction projects and maintain quality is getting highlighted after a series of construction accidents such as the latest apartment building collapse in Gwangju on Jan. 11.“The collapse of the apartment in Gwangju will increase pressure on revising the construction safety law, which is expected to create a business environment favorable to HanmiGlobal,” said Lee Seung-cheol, an analyst at Kakaopay Securi

Jan 25, 2022By Baek Byung-yeul
HanmiGlobal in spotlight as need emerges for construction safety control
Tech & Science

SK, KT rethink attending MWC amid Omicron variant

Visitors arrive at the Mobile World Congress (MWC) fair in Barcelona, Spain, June 28, 2021. AFP-YonhapBy Baek Byung-yeulSK Telecom and KT are agonizing over the size of their participation in the Mobile World Congress (MWC), the world's largest mobile communication trade show, due to the increasing spread of the Omicron variant.Officials from the mobile carriers said Monday that they were set to attend the tech show, but it is still undecided how many employees they will dispatch and whether any C-level executives will attend. Many participants in the Consumer Electronics Show (CES) held earlier this month in Las Vegas tested positive for COVID-19. And the average number of daily new infections in Spain, the host country of the exhibition, exceeds 100,000.The MWC will be held in Barcelona, Spain, for four days from Feb. 28 to March 3. The event is one of the largest tech shows in the world along with the CES and the IFA in Germany. In 2020, the event was canceled for the first time due to COVID-19 and it was held online and offline at the end of June 2021, about four months later tha

Jan 24, 2022By Baek Byung-yeul
SK, KT rethink attending MWC amid Omicron variant
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