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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

Apple seeing developments in 'iCar' talks with Korean partners

By Baek Byung-yeulU.S. tech behemoth Apple appears to be taking steps toward the electric vehicle (EV) business, which is expected to become its future growth engine, as the company has made contact with multiple Korean EV component manufacturers, according to an industry source Monday.Since last year, Apple has reportedly been planning to jump into the EV business as its next cash-cow business item. As Apple has been sticking to a strategy that it doesn't rely on having its own manufacturing facilities for its smart gadgets, such as iPhones, iPads and MacBooks, the U.S. tech firm is expected to outsource the manufacturing of its EVs as well. The industry source said that Korean manufacturers of EV batteries and other components will be able to benefit from Apple's business strategy.“Apple officials have been in Korea for business talks with its Korean partners in the semiconductor and display sectors. As seen in Apple's smartphone business, the company is seeking business partners in Korea for its EV busines

Aug 9, 2021By Baek Byung-yeul
Apple seeing developments in 'iCar' talks with Korean partners
Companies

Korea's carbon neutrality plans considered both overly ambitious and not strong enough

Yun Sun-jin, co-chairperson of the presidential committee on carbon neutrality, announces three plans to achieve net-zero emissions by 2050 at the government complex in central Seoul, last week. Yonhap By Baek Byung-yeulThe business circle and environmental advocates are casting doubts over both the feasibility and thoroughness of the government's plans, unveiled last week, to achieve net zero emissions by 2050. Business representatives argue that the drastic plan will reduce the number of jobs and undermine the competitiveness of the nation's industries, which are centered on manufacturing. Meanwhile, environmental groups say the plans come up short in realizing full carbon neutrality.The Presidential Committee on Carbon Neutrality announced three plans to achieve net zero emissions, Thursday, as part of the government's effort to join global efforts to fight climate change.The committee said the three plans are differentiated by the rate of eco-friendly technology

Aug 6, 2021By Baek Byung-yeul
Korea's carbon neutrality plans considered both overly ambitious and not strong enough
Companies

Kia K8 overwhelms Hyundai Grandeur in full-size sedan market

Kia's K8 sedan / Courtesy of KiaBy Baek Byung-yeulKia's new K8 sedan has emerged as the top pick for full-size sedan lovers here, as its sales recently surpassed Hyundai Motor's Grandeur sedan, which has been a steady-selling model for more than three decades.According to Kia, the company sold 6,008 K8 sedans in July while its sister company Hyundai Motor sold 5,247 Grandeur sedans during the same period. Since the model was first launched in the Korean market in April, the company has sold a total of 22,063 K8 sedans.The K8, which comes with four engine types ― 2.5-liter gasoline, 3.5-liter gasoline, 3.5-liter liquefied petroleum injection (LPG) and 1.6-liter gasoline turbo hybrid ― is a direct follow-up to the K7, which was sold as the Cadenza in overseas markets.The soaring popularity of the K8 comes as a surprise in the Korean market where the Grandeur has shown its dominance. In 2020, Kia sold 41,048 K7 sedans while the sales of the Grandeur was 145,463. It's been about three years since Kia surpassed Hyundai in the full-size sedan segment in terms of monthly sales. Kia once ove

Aug 6, 2021By Baek Byung-yeul
Kia K8 overwhelms Hyundai Grandeur in full-size sedan market
Companies

No Olympics vibe, but conglomerates devotedly back Korean athletes

Samsung, Hyundai and SK shine in supporting Team Korea at the Tokyo GamesBy Baek Byung-yeulSamsung, Hyundai Motor, SK and other conglomerates here are drawing applause for their devoted support of the South Korean national team taking part in the 2020 Tokyo Olympics, as their financial and technical assistance has greatly helped Team Korea show off their skills and win medals.Marketing-wise, the Olympics Games has traditionally been a great opportunity for companies to promote their technology and products. However, things have been slightly different at the Tokyo Games. Conglomerates have been relying on rather passive promotional marketing due to negative perceptions over Japan's drive to host the pandemic-delayed Olympics, as well as deteriorated bilateral relations, amid the ongoing trade dispute between Korea and Japan.Samsung Electronics, which had previously always announced its Olympic marketing plans, quietly began its promotional activities for the Games without any official statement. Samsung, the only Korean brand among the 15 global Olympic sponsors, provided 17,000 of i

Aug 2, 2021By Baek Byung-yeul
No Olympics vibe, but conglomerates devotedly back Korean athletes
  • Athletes in less popular sports capture attention
  • Inspiring high jumper Woo Sang-hyeok overcomes physical disadvantage, injury
Tech & Science

Samsung ready to ride on BTS effect to market new foldable phones

BTS member RM is seen in a Samsung Electronics advertisement for its Galaxy Unpacked event. Captured from Samsung Electronics' YouTubeBy Baek Byung-yeulSamsung Electronics is aiming to improve the brand awareness of its new foldable phones by hiring K-pop band BTS to appear in advertisements for the new devices, scheduled to be unveiled next week.A promotional video featuring all members of BTS was released on the company's YouTube channel last week ahead of its Aug. 11 Galaxy Unpacked event, which will be held online. In the video, BTS lead singer RM asks, “Is good, good enough?” and other members answer, “Get ready to unfold.”The phrase features in an unpacked invitation Samsung previously distributed to global media. The company has not confirmed whether BTS will appear at the Aug. 11 event, but the K-pop band was featured last year when introducing the Galaxy Note 20.McDonald's witnessed a 40.5 percent year-on-year sales boost in the second quarter thanks to a new meal collaboration featuring BTS. As a result, all eyes are on whether Samsung will also be a

Aug 1, 2021By Baek Byung-yeul
Samsung ready to ride on BTS effect to market new foldable phones
Companies

LG Energy Solution goes green with ESG initiative

LG Energy Solution CEO Kim Jong-hyun / Courtesy of LG Energy SolutionBy Baek Byung-yeulLG Energy Solution has begun environmental, social and governance (ESG) business initiatives to achieve sustainable growth, the battery-making arm of LG Group said Sunday.The company aims to achieve carbon neutrality by 2050 and convert all of its business operations to using 100 percent renewable energy under its “We CHARGE toward a better future” vision.“LG Energy Solution will concentrate on seven core tasks, which include achieving carbon neutrality by 2050, transitioning all business operations to RE100 by 2030 and establishing a virtual circular value chain for resources by 2025,” the firm said.LG Energy Solution CEO Kim Jong-hyun said the initiative will help lead to new business opportunities and to create a sustainable battery supply chain.“ESG management is a new opportunity for LG Energy Solution in seeking to expand its business reach. This will guide us to create social values and establish a virtuous cycle in the battery ecosystem,” Kim said.

Aug 1, 2021By Baek Byung-yeul
LG Energy Solution goes green with ESG initiative
Tech & Science

Google urged to pay news copyright fees

Google's headquarters in Calif., the U.S. Reuters-YonhapMore countries taking steps to regulate US firm's platform dominanceBy Baek Byung-yeulWith countries increasing their efforts to strengthen antitrust regulations on digital platforms, Google is under pressure to pay copyright fees to news organizations for using their content on its platform. Officials in the news industry here said Wednesday that this wave of change is also approaching within Korea, as demands are increasing for a measure to impose a fair levy on overseas IT behemoths.In response to criticisms that digital platforms have disrupted any hopes of a sustainable, independent and equitable news ecosystem, Google has launched Google News Showcase, a licensing program that pays fees to news organizations.But the News Showcase program has not been initiated in Korea, where digital platforms such as Google have not been regarded as online news service providers under the Newspaper Act.For the sustainable growth of news organizations based in Korea, a bill, sponsored by Rep. Kim Yeong-shik of the conservative main opposit

Jul 28, 2021By Baek Byung-yeul
Google urged to pay news copyright fees
Companies

Samsung SDI confirms 1st battery cell plant in US

Group's battery affiliate says chip shortage to be eased in H2 By Baek Byung-yeulSamsung SDI forecast the automotive chip shortage issue won't disrupt its scheduled electric vehicle (EV) battery production, as carmakers are aggressively shifting their business strategies to sell more EVs to meet stricter environmental regulations, the battery-making arm of Samsung Group said Tuesday.Ever since the outbreak of COVID-19 early last year, various industry sectors, especially the automotive industry, have struggled with semiconductor shortages and supply chain deterioration. The shortages come as chipmakers have given priority to chips for IT devices and home appliances, which have been in robust demand due to the pandemic.However, Samsung SDI said the impact of the chip shortage issue on the company's performance will be limited in the second half of this year.“Although EV production is affected partly by chip shortage issues, the chip supply will be improved in the second half of this year,” a company official told investors during an earnings call upon announcing its s

Jul 27, 2021By Baek Byung-yeul
Samsung SDI confirms 1st battery cell plant in US
Companies

Hyundai's archery support shines again in Tokyo

Hyundai Motor Group Chairman Chung Euisun, center, reacts after South Korean women's archery team won a gold medal in the 2020 Summer Olympics at the Yumenoshima Park Archery Field in Tokyo, Sunday. YonhapTop automotive group sponsors archers since 1985 By Baek Byung-yeulThe South Korean archery team has been in the spotlight as the national team has clinched three gold medals so far at the 2020 Tokyo Summer Olympics thanks in part to the devoted support of Hyundai Motor Group.The automotive giant is widely known for its ardent support of the country's archery, as it has been sponsoring archers here since 1985. Thanks to the group's financial and technical support, South Korea has shown its utter dominance at the Games over the past 35 years, winning 26 gold, nine silver and seven bronze medals as of Tuesday.The relationship between Hyundai Motor and archery began with Honorary Chairman Chung Mong-koo, who decided to support South Korean archers after watching Seo Hyang-soon win a gold medal in the women's individual archery event at the 1984 Summer Olympics in Los Angeles.Chung, who

Jul 27, 2021By Baek Byung-yeul
Hyundai's archery support shines again in Tokyo
  • Korea stuns the world after winning third gold in archery
Tech & Science

Parole for Samsung chief becoming more likely

Two thirds of Koreans in favor of granting Lee parole: pollBy Baek Byung-yeulVoices in favor of jailed Samsung chief Lee Jae-yong being granted parole on the upcoming Liberation Day, which falls Aug. 15, are getting louder with a growing number of people saying this would help the company take the lead in the semiconductor industry amid stiffening competition.Local pollster Realmeter said Monday that 66.6 percent of respondents to a recent survey said the Samsung Electronics vice chairman should be released from prison to “revitalize” the national economy. In the poll, only 28.2 percent said Lee should not be paroled because it would be seen as granting him a special favor. The poll was conducted on 500 people aged 18 and older nationwide, Friday.Lee is currently serving a two-and-a half year prison term after being found guilty of bribery in a corruption trial involving impeached and jailed former President Park Geun-hye.Given the time he has already served during the judicial process, Lee will be released in July 2022, unless he receives a special pardon or is paroled.The Realmeter

Jul 26, 2021By Baek Byung-yeul
Parole for Samsung chief becoming more likely
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