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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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Politics

Samsung hints at Note in new Galaxy S series

Roh Tae-moon, president and head of MX Business at Samsung Electronics / Courtesy of Samsung Electronics By Baek Byung-yeulSamsung Electronics' Galaxy Note series, which skipped release in 2021, is returning to the market next month with the Galaxy S22 Ultra. With the merging of features from both the S series and the Note series, Galaxy S smartphones are expected to appeal to consumers in the first half of this year with a variety of models ranging from a large-screen device with an S Pen stylus to a small but high-performance smartphone.Roh Tae-moon, president and head of Samsung's MX (mobile) Business, hinted Friday that the company will release the Galaxy S22 Ultra equipped with the S Pen, at Unpacked, scheduled in February.“We know many of you were surprised when Samsung didn't release a new Galaxy Note last year,” Roh wrote about the product on its website. “You loved the unparalleled creativity and efficiency of the Galaxy Note series, which enabled you to sw

Jan 21, 2022By Baek Byung-yeul
Samsung hints at Note in new Galaxy S series
Companies

New Kakao CEO faces daunting tasks

Company has long way to go to restore public trust and investor confidenceBy Baek Byung-yeul NamKoong Whon, Kakao's new CEO. Courtesy of Kakao Namkoong Whon, the newly appointed chief executive of Kakao, faces a range of daunting tasks to restore the trust of its customers and shareholders, as the operator of the nation's top mobile messenger has been grappling with the alleged abuse of its market dominance and falling stock prices after the exercise of stock options by top company managers, according to market analysts, Friday.Although Kakao appointed a new CEO, it remains to be seen whether the company will restore the trust it has lost as a result of having continued to break its promises to shareholders and customers, despite repeated criticism, according to analysts.“Kakao appointed Namkoong to a new chief position because there is no one else to take the job,” an IT industry official said. “There is no guarantee that Kakao will be able to resolve various critici

Jan 21, 2022By Baek Byung-yeul
New Kakao CEO faces daunting tasks
Tech & Science

Companies intensifying industry-academia partnerships to foster talent

Jeon Kyung-hoon, left, the president of Samsung Electronics, poses with Chung Jin-taek, the president of Korea University, during a ceremony to mark their agreement to foster talent in the telecommunications major at Korea University in Seoul, Jan 17. Courtesy of SamsungBy Baek Byung-yeulSamsung and other companies are increasing their cooperative projects with universities by sponsoring schools to launch new majors and offering job opportunities to incoming students, with emerging technologies such as battery, telecommunications, display and artificial intelligence (AI) expected to become major revenue sources.Industry officials said Wednesday that they are increasingly sponsoring universities to open new majors in the fields they need in order to foster talent for these areas. They added that increasing industry-academia partnerships is in fact a desperate measure, due to the fact that the current education system does not cultivate people who can be put to work immediately in rapidly developing fields.“We put a lot of efforts into training new employees who join the company

Jan 21, 2022By Baek Byung-yeul
Companies intensifying industry-academia partnerships to foster talent
Tech & Science

MS-Blizzard deal prompts Korean game firms to seek more metaverse M&As

By Baek Byung-yeulNexon, NCSOFT, Netmarble and other Korean game companies are expected to seek more mergers and acquisitions (M&As) in metaverse- and non-fungible token (NFT)-related businesses, sparked by Microsoft's latest $68.7 billion takeover of U.S. game maker Activision Blizzard, according to industry analysts Thursday.On Tuesday, Microsoft announced that it will acquire Blizzard in a move to reinforce its emerging metaverse business. The transaction is the largest deal in the global game industry. When the deal closes, Microsoft will be the world's third-largest game company by revenue, following Tencent of China and Sony of Japan.“The point of the deal is that Microsoft will have stronger intellectual property, which will attract more users to its Xbox platform. From a long-term perspective, it is likely to be a positive factor for Microsoft in terms of the convergence of games that provide the most immersive experience and metaverse that utilizes virtual space,” an authority on the local game industry said.“Game companies here must be inspired by the

Jan 20, 2022By Baek Byung-yeul
MS-Blizzard deal prompts Korean game firms to seek more metaverse M&As
Tech & Science

Samsung battling TSMC, Intel to be global leader in foundry business

By Baek Byung-yeulSamsung Electronics is facing growing competition with its rivals in the foundry business, as TSMC and Intel are expanding their investments in the rapidly growing, contracted semiconductor producing sector. TSMC recently revealed that it plans to invest between $40 billion and $44 billion this year alone, a move to solidify its leadership position in the foundry business. Industry analysts predicted Tuesday that this major investment will far exceed Samsung's annual investments in its chip business, including in the memory chip sector, a fact that will consequently become a major obstacle to the Korean company's plan to rank first in the sector by 2030.TSMC is not Samsung's only threat. U.S.-based chip giant Intel, which announced its reentry into the foundry business in 2021, is making every effort to build foundry plants on its home soil. Intel is currently building two foundry lines in Arizona, with a total of $20 billion invested.Furthermore, Intel reportedly plans to build a “Mega Fab” in Ohio, combining large-scale chip production lines and resear

Jan 19, 2022By Baek Byung-yeul
Samsung battling TSMC, Intel to be global leader in foundry business
Companies

LG Chem advances into plastic waste recycling, eyes replacing fossil fuels

LG Chem's complex in South Chungcheong Province / Courtesy of LG ChemBy Baek Byung-yeulLG Chem is venturing into the chemical recycling of plastic waste as part of its efforts to join the global movement to reduce plastic waste and carbon emissions, the company said Tuesday.To that end, the company has decided to build a hydrothermal recycling facility in its complex here. It has also joined hands with U.K.-based Mura Technology and its U.S. partner, Kellogg Brown & Root (KBR).“We will build the country's first supercritical recycled oil plant in Dangjin, South Chungcheong Province, with an annual production capacity of 20,000 tons, by the first quarter of 2024,” an LG Chem official stated.Recycled oil is a renewable fuel that can be extracted from plastic waste. It also can be used as a raw material for the production of new plastic products. The facility will use supercritical water as a chemical recycling technology to convert mixed plastics into fossil fuel-replacement oils.LG Chem will cooperate with Mura Technology, which possesses hydrothermal plastic recycling

Jan 18, 2022By Baek Byung-yeul
LG Chem advances into plastic waste recycling, eyes replacing fossil fuels
Tech & Science

Consumers dissatisfied with low 5G quality

Seen is a store in downtown Seoul that sells telecommunication services for SK Telecom, KT and LG Uplus smartphones. YonhapBy Baek Byung-yeulKorea's major telecommunications companies ― SK Telecom, KT and LG Uplus ― are forecast to disclose upgraded earnings for the fourth quarter of 2021 thanks to increased numbers of subscribers to 5G networks, but criticism is growing as many consumers feel the quality of their 5G services is still below expectations in terms of speed and coverage.According to data from market tracker FnGuide, Monday, the three mobile carriers are expected to show year-on-year growth in the double digits to 813.5 billion won ($682 million) in combined operating profit in the fourth quarter.By company, SK Telecom is estimated to record 342.6 billion won, KT 253.6 billion won and LG Uplus 217.3 billion won.Experts said the improved earnings stem from an increase in 5G service subscribers. According to data provided by the Ministry of Science and ICT, the number of 5G subscribers to the three major mobile carriers stood at 201.8 million as of last November. The data

Jan 17, 2022By Baek Byung-yeul
Consumers dissatisfied with low 5G quality
Companies

Will LG Chem rebound without EV battery division?

LG Chem CEO Shin Hak-cheol speaks during an online press conference, July 14, 2021. Courtesy of LG ChemBy Baek Byung-yeulLG Chem has been attracting attention from both investors and industry analysts over whether it will be able to retain corporate value after its key battery division, LG Energy Solution (LGES), goes public on Jan. 9.LG Chem shares have shown weak performance in recent weeks as many retail and institutional investors dumped the stocks to buy shares of the country's largest electric vehicle (EV) battery maker.It is inevitable for LG Chem's future value to fall when the EV battery division, one of its core businesses, gets listed on the stock market, analysts said Monday. But, they also mentioned LG Chem is strengthening investments in battery materials such as cathode and eco-friendly materials, adding that its value could rebound after an adjustment period.LGES has the second-largest share in the global battery market after CATL of China, supplying its battery cells to numerous global carmakers such as GM, Mercedes-Benz and Hyundai Motor. In September 2020, LG Chem

Jan 17, 2022By Baek Byung-yeul
Will LG Chem rebound without EV battery division?
Companies

HDC chief's leadership in crisis due to Gwangju accident

HDC Group Chairman Chung Mong-gyu issues an apology for the June 9 building collapse incident, at Gwangju City Hall on June 10, 2021. Courtesy of the Gwangju City GovernmentChung Mong-gyu to announce measure to take responsibility on MondayBy Baek Byung-yeulChung Mong-gyu, the chairman of HDC Group, is enmeshed in his biggest leadership crisis in the 23 years since he took office in 1999, as the group's crown-jewel apartment construction business has come under fire, after two building collapse incidents that occurred in Gwangju on June 9, 2021 and this past Jan. 11.When the building collapse that killed nine people at HDC Hyundai Development Company's redevelopment project occurred in the southwestern city in June, Chung firmly vowed to prevent recurrence with an apology to the public, but his promise has been shattered by a second major building collapse at another of the company's apartment complex construction sites in the city.Following the accident, one construction worker was found dead and five are still missing. The chairman visited the Hwajeong IPARK apartment collapse site

Jan 16, 2022By Baek Byung-yeul
HDC chief's leadership in crisis due to Gwangju accident
Tech & Science

Samsung's new Galaxy phones to see price hike due to chip shortages

Samsung Electronics' Galaxy S21 FE 5G is displayed at the Consumer Electronics Show in Las Vegas, Jan. 6. Courtesy of Samsung ElectronicsBy Baek Byung-yeulSamsung Electronics is scheduled to release its latest Galaxy S smartphone next month. However, due to the supply shortage of semiconductors, the company is expected to raise the price of the flagship smartphone.According to overseas tech focused media, Sunday, the new Galaxy S22 will start at a minimum price of $899, around a $100 increase from the previous S21. Samsung launched three variations of its S21 smartphones in January 2021. A model with the smallest 6.2-inch screen gained consumers' attention as it was rolled out for under 1 million won.However, the industry view is that the company has to raise the price of the S22 phones due to the global supply chain disruptions caused by the COVID-19 pandemic.Due to the shortage, prices of essential chips such as smartphone display driver integrated circuits, touch and display driver integration rose from around 30 percent to 40 percent in 2021, compared to the previous year. Power

Jan 16, 2022By Baek Byung-yeul
Samsung's new Galaxy phones to see price hike due to chip shortages
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