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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

Naver appoints new CEO for global expansion

By Baek Byung-yeulNaver's new CEO Choi Soo-yeon, right, and new CFO Kim Nam-sun / Courtesy of NaverA few weeks after Naver founder Lee Hae-jin committed himself to overhaul the rigid organizational culture at the country's internet behemoth, the company has named two young in-house executives to be its new leaders.Naver announced Wednesday that Choi Soo-yeon will be its new chief executive, and Kim Nam-sun will take the post of chief financial officer. The announcement came after company executives underwent a serious grilling by lawmakers over its huge influence in Korea.During this year's National Assembly audit, lawmakers dubbed both Naver and Kakao as “symbols of greed,” echoing rising public sentiment that the former is rapidly widening the country's socio-economic divide by encroaching into areas traditionally the main areas of small businesses such as the taxi business.Behind Naver's surprise decision to let the younger executives run the firm is the fact that it is seeking to expand its international businesses and needs C-suite employees who are fluent in English

Nov 17, 2021By Baek Byung-yeul
Naver appoints new CEO for global expansion
Companies

Samsung Electronics pursuing agility over hierarchy

Samsung Electronics' office in Seoul / YonhapBy Baek Byung-yeulSamsung Electronics is working on changing its human resource (HR) management system for the first time in five years aiming to create a more flexible and horizontal organizational culture, the company said Wednesday.The company has been holding a series of briefing sessions on the HR system realignment plan and told its employees about the changes being pursued. The organizational overhaul could include expanding the evaluation of workers' performance on an absolute rather than relative scale and adopting peer evaluation methods used by companies in countries such as the United States, according to industry sources.Industry officials said Samsung's latest attempt highlights the company's aim of enhancing the agility of management decision-making and cutting rising fixed costs.“The plan intends to keep pace with global IT companies that are rapidly changing their business plans in line with the changing trend,” an industry official in local IT industry said. Samsung Electronics confirmed that the company is se

Nov 17, 2021By Baek Byung-yeul
Samsung Electronics pursuing agility over hierarchy
Tech & Science

Merck honors researchers for advancing electronics technology

WooKyu Kim, center, managing director of Merck Korea, poses at the firm's headquarters in Seoul, Nov. 16, with Park Jin-seong, left, a professor at Hanyang University, and Park Tae-joo, a professor at ERICA Hanyang University, after awarding them the Merck Special Award. Merck Korea said Wednesday that the two professors won the awards for improving atomic layer deposition (ALD) materials and processes for next-generation electronic products. Courtesy of Merck Korea

Nov 17, 2021By Baek Byung-yeul
Merck honors researchers for advancing electronics technology
Companies

Korean firms flock to CES to flaunt new technologies in post-pandemic era

Seen is Samsung Electronics' booth at the 2020 Consumer Electronics Show. Courtesy of Samsung ElectronicsBy Baek Byung-yeulSamsung, LG, Hyundai, SK and other Korean companies will set up booths to promote their latest technologies at next year's Consumer Electronics Show (CES), as the event organizer is set to resume in-person events in contrast to the last event earlier this year which was held only online due to the COVID-19 pandemic.The CES, which will be held in Las Vegas from Jan. 5 to 8 next year, is one of the world's largest tech fairs along with Spain's Mobile World Congress and Germany's IFA. Given the event will take place as countries reopen their borders gradually and shift to normal, industry watchers project next year's CES show to focus mainly on changes in store for the post-pandemic era. Korean companies are second to none in the competition to show new technologies, as Samsung, LG, SK and other firms proved their technological edges by sweeping numerous CES 2022 Innovation Awards announced recently.The Consumer Technology Association (CTA), the organizing committee

Nov 17, 2021By Baek Byung-yeul
Korean firms flock to CES to flaunt new technologies in post-pandemic era
Tech & Science

Businesses expect US-China summit to ease supply chain concerns

A screen in a Beijing restaurant shows Chinese President Xi Jinping and U.S. President Joe Biden's virtual meeting held via video link, Nov. 16. Reuters-YonhapBy Baek Byung-yeulA virtual summit between U.S. President Joe Biden and his Chinese counterpart Xi Jinping took place Tuesday with the two leaders discussing issues like Taiwan, trade and human rights.During the meeting that lasted more than three hours, Biden said both countries had a responsibility to ensure their relationship did not “veer into open conflict,” while Xi said the U.S. and China needed to improve “communication” and face challenges “together.”The two leaders have held talks over the phone two times so far, but the virtual summit was their first face-to-face meeting since Biden took office in January.Regarding the summit, a senior administration official of the White House said tariffs and supply chain issues are likely to be pushed back from the talks, while issues related to international affairs and national security are expected to be highlighted.“You know, it's not

Nov 16, 2021By Baek Byung-yeul
Businesses expect US-China summit to ease supply chain concerns
  • Korean Peninsula issue neglected in titans' showdown
Companies

S-Oil recognizes 'citizen heroes'

S-Oil CEO Hussain A. Al-Qahtani, second row fifth from left, poses with “citizen heroes,” people who demonstrated the spirit of self-sacrifice to save others in danger, during an award ceremony at the company's headquarters in Seoul, Tuesday. S-Oil has been honoring these heroic citizens every year since 2008. For this year's event, the company awarded 20 citizen heroes with plaques as well as a total of 140 million won in prize money. Courtesy of S-Oil

Nov 16, 2021By Baek Byung-yeul
S-Oil recognizes 'citizen heroes'
Companies

POSCO to build electrical sheet plant

Seen is a motor for a fuel cell electrical vehicle manufactured by POSCO SPS using POSCO's electrical steel sheet. POSCO said Monday that its board recently decided to invest 1 trillion won to build an electrical sheet plant that has an annual production capacity of 300,000 tons to meet growing demand for eco-friendly cars. The company currently has a plant with an annual capacity of 100,000 tons. Courtesy of POSCO

Nov 15, 2021By Baek Byung-yeul
POSCO to build electrical sheet plant
Companies

GM plans to launch 10 EV models by 2025, but no local production

Steve Kiefer, senior vice president of GM, speaks during a press conference at the company's headquarters in Bupyeong District, Incheon, Friday. Courtesy of GM KoreaBy Baek Byung-yeulGeneral Motors will aggressively expand into Korea's growing electric vehicle (EV) market, releasing 10 new EVs by 2025, but has no plans to manufacture any of them here, its Senior Vice President Steve Kiefer said Friday.“Ten EVs will all be imported and those are not being produced in the country. We are not announcing any plans yet to produce electric vehicles in the county,” the executive said during a press conference at GM Korea's headquarters in Incheon's Bupyeong District.Kiefer said GM's automotive plant in Korea will continue to concentrate on producing SUVs.“It's so important that we keep our team focused on the continued success of the Trailblazer,” he added.Kiefer arrived in Korea this week to visit GM's Korean production site as well as its vehicle design and engineering unit, GM Technical Center Korea (GMTCK), to check if the U.S. carmaker's investments in the Korea

Nov 12, 2021By Baek Byung-yeul
GM plans to launch 10 EV models by 2025, but no local production
Tech & Science

Treasure Data launches new customer data platform service

gettyimagesbankBy Baek Byung-yeul Treasure Data, an enterprise customer data platform (CDP) service provider, has launched a new service called CDP for Service, its Korean unit said Friday.The company, which is a subsidiary of U.K.-based semiconductor company Arm, explained that its CDP service connects to a wide range of systems and data sources, helping its customer companies build better marketing strategies. The CDP service analyzes profile data and real-time interaction data, such as behavioral, demographics and transactional information, campaign data, product data, customer support data and more to build a single customer profile.Stating that it is difficult to achieve a “customer-centric” management because all customer information is fragmented across smartphone apps, websites, store visits, emails and text messages, the company said its CDP for Service can reduce these tasks for companies.“CDP for Service acts as a smart customer data platform for all voice, chat and digital customer service systems, empowering agents with rich and relevant customer data f

Nov 12, 2021By Baek Byung-yeul
Treasure Data launches new customer data platform service
Tech & Science

Samsung Electronics executive to highlight green campaign at CES 2022

Samsung Electronics said Thursday Han Jong-hee, president of Visual Display Business at the company, will deliver a keynote speech at the upcoming Consumer Electronics Show in Las Vegas on Jan. 4, 2022. Courtesy of Samsung ElectronicsBy Baek Byung-yeulHan Jong-hee, president of Samsung Electronics' Visual Display Business, will deliver a keynote speech at next year's Consumer Electronics Show (CES), the largest tech fair in the world.Samsung said Thursday that its TV unit chief will share not only the company's vision as a global leading IT company but also the role of corporations to make the world greener and fairer for all during the pre-show keynote address at a hotel in Las Vegas, Jan. 4.“Han will present the company's vision for 'age of togetherness,' meaning that technology needs to exist together with people and for the planet,” Samsung said. “The keynote is a call to action to mitigate climate change and the company will show how everyone can do their part in building a sustainable planet.”Han has been leading the TV business of Samsung since 2017. Th

Nov 11, 2021By Baek Byung-yeul
Samsung Electronics executive to highlight green campaign at CES 2022
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