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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

Snowflake opens cloud computing service branch in Korea

Kang Hyoung-jun, right, the country manager of Snowflake Korea, poses with the company's sales engineer, Louis Lee, in this photo, provided by the firm, Wednesday. Courtesy of Snowflake KoreaBy Baek Byung-yeulU.S.-based cloud computing service company Snowflake has established a Korea branch to capitalize on the burgeoning data analytics market here.Snowflake announced Wednesday that it has opened an office in Seoul and appointed Kang Hyoung-jun as the country manager. He will be responsible for heading the company's business development, sales and channels, as well as partnership engagements in Korea, the company added.Snowflake became known in Korea after it was found to be on Berkshire Hathaway CEO Warren Buffett's investment list. The company operates data cloud services where customers can store, organize, share and analyze their data.Stating that Korea is one of the leading countries in the world when it comes to technological innovation as well as among the top producers of new data, Snowflake said that its customers will be able to gain a competitive advantage by breaking dow

Nov 10, 2021By Baek Byung-yeul
Snowflake opens cloud computing service branch in Korea
Companies

INTERVIEW 'ESG leadership is about walking the walk'

John Walker, third from left, the chairman of Eastpoint Partners, speaks during the 9th Asian Leadership Conference at the Grand Walkerhill Seoul hotel in May 2018. Courtesy of John WalkerEx-Macquarie Korea chairman emphasizes practicing ESG values in everyday lifeBy Baek Byung-yeulJohn Walker, the chairman of Eastpoint Partners / Courtesy of John WalkerFor companies, pursuing environmental, social and corporate governance (ESG) principles has emerged as a new market trend in their drive to make society greener and more equitable while achieving sustainable growth.Especially since the outbreak of the COVID-19 pandemic, the movement towards embracing ESG values has accelerated, as companies have increasingly realized that one of the key elements for survival is co-prosperity with society and the environment.John Walker, the former chairman of Macquarie Group Korea and now chairman of Eastpoint Partners, said that when pursuing ESG principles what is as important as investing in the environmental part is how much people in leadership positions practice ESG values in their lives.“

Nov 10, 2021By Baek Byung-yeul
[INTERVIEW] 'ESG leadership is about walking the walk'
  • Contribution ESG now mainstream
Companies

ANALYSIS Top Korean companies boost lobbying in US amid global chip war

More companies moving to set up offices in Washington DCBy Baek Byung-yeulMajor Korean companies are beefing up their lobbying activities in Washington D.C. by setting up offices there at a time when they are required to agilely respond to ever-changing geopolitical friction between the United States and China.The moves are quite different from before when they were passive about opening offices in the U.S. capital due to the negative view of lobbying activities in Korea.However, they seem to be abandoning this attitude and are rushing to launch local bases in Washington as the semiconductor and battery industries become more valuable, and are classified as national strategic assets in many advanced countries.According to industry sources, 10 large Korean conglomerates will have liaison offices there from next year as LG Group, whose businesses range from home appliances to electric vehicle (EV) batteries, will open one. Currently nine corporations run Washington offices including Samsung Electronics, SK hynix, Hyundai Motor, Kia, SK Group and POSCO.Industry officials said they plan

Nov 9, 2021By Baek Byung-yeul
[ANALYSIS] Top Korean companies boost lobbying in US amid global chip war
  • Samsung, SK hynix comply partially with US request
Tech & Science

Samsung set to follow TSMC to provide chip info to US

Deputy Prime Minister for Economic Affairs Hong Nam-ki speaks during a meeting on economic security at the government complex in Seoul, Sunday. YonhapBy Baek Byung-yeulAs the Nov. 9 (14:00 KST) deadline set by the U.S. government approaches, Samsung Electronics is set to respond to requests from the U.S. Department of Commerce for semiconductor chip supply chain information, a top industry executive said, Monday.The U.S. has requested that global semiconductor companies voluntarily submit key information about their business operations there. But as widely expected, Samsung won't disclose highly classified and confidential information specifically about its “key customers,” in its soon-to-be-filed response to the U.S.'s request, the executive said.On Monday afternoon, foundry chip king Taiwan's TSMC released its statement that it had submitted its answers to the questionnaire issued by the U.S. Department of Commerce. Of note is that TSMC didn't disclose any of its classified information.Regarding the remark by the executive, a Samsung Electronics official said that the c

Nov 8, 2021By Baek Byung-yeul
Samsung set to follow TSMC to provide chip info to US
Companies

Korea to promptly import diesel additive from China, Australia

Deputy Prime Minister and Minister of Finance and Economy Hong Nam-ki speaks during a meeting on the external economy and security at the government complex in Seoul, Sunday. Courtesy of Ministry of Economy and FinanceBy Baek Byung-yeulThe government will make all-out efforts to solve the ongoing shortage of diesel exhaust fluid (DEF) ― sometimes called “urea water” ― an essential additive for diesel-powered vehicles, by seeking to import it from major producers including China and Australia.It will also temporarily simplify customs clearance and offer tax incentives for its importation.The mandatory testing period for DEF exclusively manufactured for diesel engines will be shortened from the current 20 days to three to five days, while urea used for industrial purpose will be allowed in the production of DEF for diesel-powered vehicles.These were measures discussed during an emergency meeting on the external economy and security, Sunday, presided over by Deputy Prime Minister and Minister of Finance and Economy Hong Nam-ki.The meeting was attended by the foreign and secu

Nov 7, 2021By Baek Byung-yeul
Korea to promptly import diesel additive from China, Australia
  • Gov't to inspect illegal market activities surrounding urea water solution amid shortage
Tech & Science

Microsoft seeks sustainable data center development

Microsoft's data center in Wyoming / Courtesy of Microsoft KoreaBy Baek Byung-yeulMicrosoft has announced a plan to meet its carbon negative goals by 2030. In line with this, the tech giant has been conducting extensive research and investing to make data center operations more eco-friendly.Based on its research results, the company announced recently how it will reduce water use and carbon emissions at data centers.First of all, Microsoft said it will reduce the amount of water used globally in its evaporative cooled data centers by 95 percent, or an estimated 5.7 billion liters annually, by 2024. “Through our extensive global research on server performance in warmer temperatures, we're able to create higher set points for a variety of different climates for when water-based, evaporative cooling is necessary to preserve server performance and reliability,” the company said.“We expect this project to be fully implemented by 2024, and it has the potential to eliminate water use for cooling in regions like Amsterdam, Dublin, Virginia and Chicago, while reducing water

Nov 3, 2021By Baek Byung-yeul
Microsoft seeks sustainable data center development
Others

Rural Development Administration shares agricultural technology knowledge overseas

An official of the Korea Program for International Cooperation in Agricultural Technology (KOPIA) and a farmer plant seed potatoes in Ecuador. Courtesy of RDABy Baek Byung-yeulThe government has been implementing various diplomatic policies to improve its international influence in line with the size of its economy, which has grown to the rank of 10th in the world in the 2020 GDP rankings.In line with the government's efforts, the Rural Development Administration (RDA) has produced fruitful results, as the state-run agency that conducts research activities for agriculture has passed on its agricultural technology to other countries.“We have made Korea's agricultural technology benefit the public interest by sharing the experiences and knowledge ― accumulated through 50 years of investments in the agriculture sector here ― with countries that need agricultural technological development,” an RDA official said, Wednesday.The RDA has implemented a two-track strategy when carrying out its overseas agricultural technology transfer projects. One is to support each country in dev

Nov 3, 2021By Baek Byung-yeul
Rural Development Administration shares agricultural technology knowledge overseas
Companies

Local bio firms to invest W6.29 tril. to make Korea global vaccine hub

Prime Minister Kim Boo-kyum, center, speaks during the Global Vaccine Hub Preparatory Committee's meeting in Seoul, Tuesday. YonhapSongdo to become biotech production baseBy Baek Byung-yeulKorea is on course to become a global hub for vaccine production and distribution as the government has vowed to strengthen support for bio firms while local biotech companies promised to invest 6.29 trillion won ($5.3 billion) between now and 2024.The government held a meeting of the Global Vaccine Hub Preparatory Committee, presided over by Prime Minister Kim Boo-kyum, Tuesday. The meeting was the preparatory committee's second gathering following its first meeting presided over by President Moon Jae-in on Aug. 5.Featuring a total of 27 officials from the government and private sectors, the government discussed providing funds to build production facilities for vaccine and raw materials companies and 6.29 trillion won worth of private facility investment support to foster competitive companies in the sector.Also, the government is working on attracting investments from overseas companies, announc

Nov 2, 2021By Baek Byung-yeul
Local bio firms to invest W6.29 tril. to make Korea global vaccine hub
Tech & Science

LG Innotek wins 'zero waste to landfill' certification

Park Yeong-su, right, head of Safety & Environment Division at LG Innotek, poses with Yeom Hee-jeong, global account director at global safety certification company Underwriters Laboratory (UL) Korea, at the former's office in Gumi, North Gyeongsang Province, Nov. 1. LG Innotek said its Gumi branch earned the platinum grade of 'zero waste to landfill' certification from UL for its 100 percent recycling rate. The Gumi branch recycled around 22,000 tons of waste annually to reduce 970 tons of greenhouse gases. Courtesy of LG Innotek

Nov 2, 2021By Baek Byung-yeul
LG Innotek wins 'zero waste to landfill' certification
Economy

Korea Times forum proposes global investors' ESG principles

Korea Times Chairman Seung Myung-ho, front row center, poses with participants of the 2021 Korea Times Global ESG Forum, held at the Korea Chamber of Commerce and Industry (KCCI) building in central Seoul, Oct. 29. Korea Times photo by Shim Hyun-chulBy Baek Byung-yeulThe importance of environmental, social and corporate governance (ESG) has greatly expanded as a key facilitator to promote the transformation toward sustainable growth in the post-COVID-19 time. For the sake of sustainable growth, it has become essential to understand global investors' investment principles. From this standpoint, The Korea Times hosted the Global ESG Forum at the Korea Chamber of Commerce and Industry (KCCI) building in central Seoul, Oct. 29, providing an opportunity to discuss key ESG issues and trends among global investors and help them strategize effective ESG tactics.The event was held in cooperation with the KCCI. In accordance with the health authority's quarantines guidelines, only 49 officials working at local companies and global investment institutions attended the event.Korea Times Chairman

Oct 29, 2021By Baek Byung-yeul
Korea Times forum proposes global investors' ESG principles
  • Korea Investment Corp. committed to setting world's counter-climate change model
  • 'Regulator pursues ESG goals not because it's easy but because it's hard'
  • Photos Korea Times Global ESG Forum
  • Fighting climate change is key factor in global investment principles
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