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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

Top conglomerates emphasize need to engage new businesses in New Year addresses

Chung Euisun, chairman of Hyundai Motor Group, delivers his New Year message to employees through a virtual reality platform, Jan. 3. Courtesy of Hyundai Motor Group By Baek Byung-yeul SK Group Chairman Chey Tae-won Owners and CEOs of conglomerates such as Samsung, Hyundai Motor, SK and Shinsegae encouraged their employees to engage new businesses in more rapid and innovative ways to pursue sustainable growth, amid the rapidly changing global business environment due to the prolonged pandemic.Their New Year addresses contrasts with their 2021 messages that put emphasis on corporate responsibility.The number of COVID-19 infection cases has increased compared to this time last year, but they stressed their intention to actively pursue new businesses and investments as the world enters year three of the virus crisis.Chung Euisun, chairman of Hyundai Mot

Jan 3, 2022By Baek Byung-yeul
Top conglomerates emphasize need to engage new businesses in New Year addresses
Companies

Samsung Group engineers recognized as 'Samsung Masters'

By Baek Byung-yeulSamsung Electronics' engineer Lee Won-ki is one of 11 engineers who are recognized as this year's Samsung Master. Courtesy of Samsung ElectronicsSamsung Group affiliates have chosen 11 Samsung Masters, a certification given to engineers who have shown their expertise for over 20 years, in order to recognize its employees' professionalism and encourage their continued success at developing technological competitiveness.The group said Monday that for 2022 it has awarded the title to eight engineers from Samsung Electronics, and one each from Samsung Display, Samsung SDI and Samsung Electro-Mechanics.“The Samsung Master certification is a system that recognizes employees with both craftsmanship and leadership who have worked in manufacturing-related fields for at least 20 years,” Samsung said.Samsung Electronics introduced the system in 2019 to enhance technological competitiveness in the IT sector and foster master-level tech experts. It selected four Samsung Masters in the first year, three in 2020 and six in 2021. Following Samsung Electronics, Samsung E

Jan 3, 2022By Baek Byung-yeul
Samsung Group engineers recognized as 'Samsung Masters'
Tech & Science

Korean companies to reveal innovative products at CES 2022

Seen is a virtual exhibition space of LG Electronics during the Consumer Electronics Show, which will take place in Las Vegas from Jan. 5 to 7. Courtesy of LG ElectronicsWorld's largest tech show to kick off this weekBy Baek Byung-yeulLogo for Consumer Electronics Show / Courtesy of Consumer Technology AssociationSamsung, LG, Hyundai, SK and other Korean companies are set to reveal their latest technologies and products at the Consumer Electronics Show (CES) this week, in order to take the lead in the post-pandemic era, where a shift in both technology and people's life paradigms is expected to occur.The CES is the world's largest tech show. The event organizer said that over 2,200 exhibitors will participate in this year's event. Though the 2021 event was fully held online in the aftermath of the COVID-19 pandemic, the 2022 event will be held both on- and offline. This year's event was scheduled to be held for four days from Jan. 5 to Jan. 8, but the organizer said Saturday that it has decided to proceed for three days until Jan. 7 amid concerns over the increasing number of people

Jan 2, 2022By Baek Byung-yeul
Korean companies to reveal innovative products at CES 2022
Tech & Science

INTERVIEW Korea seeks role of 'linchpin' in solving supply chain challenges

Trade Minister Yeo Han-koo speaks during an interview with The Korea Times at the ministry's Seoul office, Dec. 23. Korea Times photo by Shim Hyun-chulCountry moving to join RCEP, CPTPP mega trade pacts: trade ministerBy Baek Byung-yeul, Kim Yoo-chulThe COVID-19 pandemic and the prolonged trade row between the United States and China have led the global community to realize how interrelated it is as well as the importance of the global value chain, as the disruptions have direct economic effects worldwide.At this moment when the global economic order is undergoing rapid changes, Trade Minister Yeo Han-koo said there needs to be a new framework for the international trade scene.“Korea is capable of coping with this well and taking the lead in the upheaval,” Yeo told The Korea Times in a recent interview.“I think the problems arising in the current international trade scene in the wake of the pandemic are due to reactions to problems that were overlooked in the globalization process,” the country's top trade negotiator said.“In addition, as digitalization

Jan 2, 2022By Baek Byung-yeul
[INTERVIEW] Korea seeks role of 'linchpin' in solving supply chain challenges
Tech & Science

INTERVIEW LG fast adapting to changing home appliances

Shin Sang-yoon, CEO of Sprout Company, an in-house company of LG Electronics / Courtesy of LG ElectronicsBy Baek Byung-yeulSince the outbreak of the COVID-19, the home appliance market has gone through changes as many people around the world are spending more time at home.As more people in the world spend more time at home, demand for new home appliances have increased and manufacturers have been launching new gadgets that are more convenient for everyday life in response.Though large-sized companies tend to become bureaucratic and slow to the fast-changing business environment, LG Electronics, one of the largest home appliance makers in the world, has been nimble in the midst of this turbulent period, swiftly launching new products that fit into the stay-at-home lifestyle.One of the examples of is the LG StandbyME, a battery-powered TV. The height-adjustable TV, which was first launched in the Korean market and will be rolled out overseas later, has enjoyed a enthusiastic response here as the wireless TV can be moved around the home using a stand with wheels.Another example is an in

Jan 1, 2022By Baek Byung-yeul
[INTERVIEW] LG fast adapting to changing home appliances
Companies

Steelmakers changing strategies on carbon neutrality directive

A furnace at POSCO's Pohang plant / Korea Times fileBy Baek Byung-yeulKorean steelmakers such as POSCO, Hyundai Steel and Dongkuk Steel Mill are changing their steel production methods in a desperate move to fall in line with the government's tightened regulations intended to reduce greenhouse gas emissions.The government has been taking drastic moves to cut carbon emissions. In August, the country became the world's 14th nation to legislate a Carbon Neutrality Act after the National Assembly passed a bill mandating a 35 percent cut in greenhouse gas emissions by 2030, to achieve net-zero emissions by 2050.Among industries, steel manufacturing is one of the sectors in strong contravention of the government's drive to cut carbon emissions as their processes produce enormous amounts of carbon dioxide from steel furnaces.In order to meet with the government's goal to achieve net-zero emissions by 2050, steelmakers are focusing on producing low-carbon steel as they are increasingly utilizing mini-mills that have electric arc furnaces to melt recycled scrap steel using electric power.The

Dec 24, 2021By Baek Byung-yeul
Steelmakers changing strategies on carbon neutrality directive
Tech & Science

Companies scale down participation in CES over Omicron fears

Seen are visitors and event participants at the Consumer Electronics Show (CES) in Las Vegas, Jan. 5, 2020. YonhapBy Baek Byung-yeulThe Consumer Electronics Show (CES) will take place on-site in January for the first time in two years, but Korean companies taking part in the world's largest tech show are downsizing their participation due to growing fears over the Omicron variant of the coronavirus. The event will be held in Las Vegas from Jan. 5 to 8, featuring around 2,100 exhibiting companies from around 160 countries to share their latest technologies. The 2022 CES has raised high expectations, as it will deal with emerging technologies, including blockchain, non-fungible tokens and digital health.However, due to the surge in infections from the Omicron variant, companies here are reducing the number of employees sent to Las Vegas or changing their plans instead to join the show virtually.Omicron has now become the dominant variant of COVID-19 in the U.S., accounting for 73 percent of new infection cases last week, according to the public health authorities there.The U.S. Centers

Dec 22, 2021By Baek Byung-yeul
Companies scale down participation in CES over Omicron fears
Companies

Disrupted car production buoys used car market

Cars are parked at a used car dealership in Bucheon, Gyeonggi Province, in this July 2015 file photo. Korea Times fileBy Baek Byung-yeulWith the prolonged supply of automotive semiconductors, demand is increasing for purchasing used cars or using car sharing platforms instead of buying new ones.According to the latest automotive industry report, global carmakers are still unable to completely escape the aftermath of car component shortage. As a result, some popular models take more than a year of waiting after customers make their orders.A dealer for Kia in Seoul said its newly launched EV6 “would probably take around a year for customers to actually receive due to the component shortage.”The used car market here is widely seen as full of scams using invisible transactions, such as not providing full information on vehicles and selling for deceitful prices, but many customers are saying that a paradigm shift is occurring in the market with the development of online trading platforms.In 2020, the number of used cars newly registered reached about 3.95 million, which was an

Dec 21, 2021By Baek Byung-yeul
Disrupted car production buoys used car market
Companies

Nanocovax COVID-19 vaccine proven effective

Nanocovax's COVID-19 vaccine / Courtesy of HLBBy Baek Byung-yeulNanocovax, a COVID-19 vaccine developed by Vietnamese biotech company Nanogen, has received confirmation of its safety and effectiveness, paving its way to the global biopharmaceutical market, Korean biotech company HLB said Monday.HLB, which acquired the global sales rights of Nanocovax's COVID-19 vaccine, said that an official from a Vietnamese public health authority told local media that the company's vaccine had exceeded the qualifications set by the World Health Organization (WHO).“On the 17th of December, Trung Viet Dung, Chairman of Vietnam's National Ethics Committee under the Ministry of Health, stated in an interview with local news outlet PLO that 'Nanocovax's protective effect has exceeded 50%, the minimum protective effect set by the WHO,'” HLB said.The chairman further elaborated, “Data on the Phase 3 interim results will soon be delivered to the Advisory Council for the Registration of the Circulation of Drugs and Medicinal Ingredients to proceed with Nanocovax's emergency approval proce

Dec 20, 2021By Baek Byung-yeul
Nanocovax COVID-19 vaccine proven effective
Companies

LS chairman emphasizes 'agile innovation'

Koo Ja-eun, incoming chairman of LS Group, speaks during the 2021 LS Agile Demo Day at LS Tower in Anyang, Gyeonggi Province, Dec. 16. Courtesy of LS GroupBy Baek Byung-yeulKoo Ja-eun, incoming chairman of LS Group, is calling on affiliated companies to pursue “agile innovation” so that the conglomerate can sharpen its global competitiveness.The group held its annual LS Agile Demo Day event from Dec. 15 to Dec. 17. Since 2019, LS has held the Agile Demo Day event every year, sharing achievements made through agile innovation.Agile innovation refers to the profitable application of creativity encompassing continued improvements based on flexibility and quick responses to feedback across all departments of a company. Such methods have revolutionized the global IT industry.Under the theme of “Get Agile Right,” Koo told employees that the group's pursuit of agile innovation is to continuously create points that can be differentiated from other companies."In order for LS to grow and become a more competitive global company, we need to create 'additional differentia

Dec 20, 2021By Baek Byung-yeul
LS chairman emphasizes 'agile innovation'
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