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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

Shipbuilding, shipping industries agree on steps to carbon neutrality

A Hyundai Heavy Industries LNG vessel / Courtesy of Hyundai Heavy IndustriesBy Baek Byung-yeulWith extreme weather events such as floods, heat waves and polar vortex leakages hitting the planet, attention is shifting towards achieving carbon neutrality in many industry sectors, and the shipbuilding and shipping industries are no exception.At the International Maritime Organization's (IMO) meeting in June, members of the UN unit that supervises regulations for the shipping industry, agreed on measures to reduce ships' carbon dioxide emissions by 2 percent per year between 2023 and 2026.The IMO has set a goal of reducing carbon and greenhouse gas emissions by 70 percent and 50 percent, respectively, by 2050, compared to their levels in 2008. The agreement is the first plan detailing the steps to reduce these emissions.Following the strengthening of environmental regulations, Korean shipbuilders are accelerating their efforts to develop eco-friendly ships, such as liquefied natural gas (LNG)-powered vessels and related technologies, taking this trend as a new business opportunity. Shipp

Jul 18, 2021By Baek Byung-yeul
Shipbuilding, shipping industries agree on steps to carbon neutrality
Companies

LG Chem to invest W10 trillion in next-generation businesses

LG Chem CEO Shin Hak-cheol speaks during a virtual press conference at the firm's headquarters in Seoul, Wednesday. Courtesy of LG ChemChemical firm's wholly-owned subsidiary, LG Energy Solution, to go public within this yearBy Baek Byung-yeulLG Chem will invest 10 trillion won ($8.7 billion) until 2025 to develop eco-friendly materials, rechargeable battery parts and pharmaceutical products. The leading chemical company views those three businesses as its new growth engines, CEO Shin Hak-cheol said Wednesday.Shin said the company has come up with a new business portfolio in a bid to achieve sustainable growth at a time when the pursuit of environmental, social and corporate governance (ESG) is becoming more important.Of the 10 trillion won, 3 trillion won will be spent on eco-friendly materials, 6 trillion won on rechargeable battery parts and 1 trillion won to develop new drugs.“When it comes to assessing the performance of a company, sustainability should be a prerequisite and this value must be reflected in every business process, strategy and investment,” Shin said d

Jul 14, 2021By Baek Byung-yeul
LG Chem to invest W10 trillion in next-generation businesses
Tech & Science

Huawei puts cybersecurity, privacy protection as top priorities

By Baek Byung-yeul Cover image of Huawei's sustainability report / Courtesy of Huawei Korea Huawei Technologies is using its expertise in information and communications technology (ICT) for joint prosperity between the business community and society. Its Korean unit said on Tuesday that the company recently released its 2020 sustainability report to share what kinds of progress it has made over the past years in its four strategies for sustainability: digital inclusion, security and trustworthiness, environmental protection and a harmonious business ecosystem.Despite the pandemic having caused disruptions in education and healthcare systems all over the world, the company said that it has been using its innovative technologies to provide people across different regions with equal access to quality education and healthcare resources, as well as playing its part in the fight against the pandemic.“In 2020, Huawei rolled out its 'Skills on Wheels' and 'Connecting Schools'

Jul 14, 2021By Baek Byung-yeul
Huawei puts cybersecurity, privacy protection as top priorities
Tech & Science

Samsung Electronics unveils image sensors for vehicles

Samsung Electronics' ISOCELL Auto 4AC image sensors for vehicles / Courtesy of Samsung ElectronicsBy Baek Byung-yeulSamsung Electronics has rolled out its first automotive image sensors as part of efforts to expand into the fast-growing image sensor markets, the chip giant said Tuesday.The company said its ISOCELL Auto 4AC image sensors will be used in an upcoming vehicle from an undisclosed global carmaker.A company official said he “cannot confirm which carmaker will use Samsung's image sensors,” but said the vehicle will be rolled out later this year. The official added “its image sensors will be used for surround-view monitors and rear-view cameras of the vehicle.”The automotive image sensor market is expected to see rapid growth as more vehicles feature advanced driving assistance systems and more self-driving vehicles hit the roads. Market tracker TSR forecasted that the market will expand at an average annual growth rate of 11 percent from 2021 to 2024.For Samsung, vehicle image sensors are lucrative as the market is a higher-value one than that for mob

Jul 13, 2021By Baek Byung-yeul
Samsung Electronics unveils image sensors for vehicles
Tech & Science

Doosan partners with Boston-based cybersecurity firm

Logos for Doosan Digital Innovation, left, and Cybereason / Courtesy of Doosan Digital InnovationBy Baek Byung-yeulDoosan Digital Innovation (DDI) signed a partnership with Boston-based cybersecurity firm Cybereason to provide the latter's cybersecurity software tools in the Asia-Pacific region including Korea, the IT service arm of Doosan Group said Monday.The tools to be provided by the Korean side include endpoint detection and response (EDR), managed detection and response (MDR), next-generation antivirus (NGAV) and anti-ransomware and -malware protection.“With the partnership with Cybereason, DDI plans to provide response tools to cybersecurity threats to its customers, as private firms and public organizations are urged to respond quickly to rapidly increasing cyberattacks,” DDI said.The Doosan Group affiliate said it inked the partnership with Cybereason as the company has a unique technology that preemptively eliminates security risks through real-time early detection.“Partnering with Cybereason puts future-ready cybersecurity products and services in the ha

Jul 12, 2021By Baek Byung-yeul
Doosan partners with Boston-based cybersecurity firm
Tech & Science

SK hynix begins mass production of DRAM with EUV technology

SK hynix's DRAM chips made of EUV technology / Courtesy of SK hynixTech giant produces chips in high-tech, cost-effective wayBy Baek Byung-yeulSK hynix has begun mass production of 10-nanometer DRAM chips using cutting-edge extreme ultraviolet (EUV) lithography technology as part of efforts to enhance its market competiveness, the company said Monday. SK hynix the second Korean company to use EUV technology for DRAM manufacture after Samsung Electronics, which started using the method last August.EUV technology makes it possible to draw finer circuitry that accordingly allows more data to be stored on the same surface area compared to circuits produced using non-EUV technology, such as deep ultraviolet (DUV) scanner technology.The technology meets growing demand to make chips smaller, faster and more energy-efficient to increase profits. The company told investors in April that it plans to produce DRAM chips using EUV technology starting in the second half of this year. “We started mass production this month of 8-gigatibt LPDDR4 mobile DRAM based on fourth-generation 10-nanomet

Jul 12, 2021By Baek Byung-yeul
SK hynix begins mass production of DRAM with EUV technology
Companies

ANALYSIS Korea aspiring to become battery business champion

Gov't to nurture local battery material, component, equipment ecosystemBy Baek Byung-yeulWith the global economy transitioning to clean energy to better respond to climate change, Korea is scurrying to foster local materials, components and equipment businesses for the secondary battery industry in a bid to make this a next-generation growth engine.Secondary or rechargeable batteries grew into a $50 billion business in 2020, according to data from the Bank of Korea, and the figure is expected to triple to $150 billion by 2025 as more countries are encouraging consumers to buy electric vehicles (EVs). Also, increasing reliance on renewable energy around the world will lead to an eventual increase in the use of batteries in energy storage systems (ESS) that store electricity.Korea is capitalizing on the changing trend as its three big battery makers ― LG Energy Solution (LGES), Samsung SDI and SK Innovation (SKI) ― occupied over 33 percent of the global market between January and May, according to data from market tracker SNE Research.While Korean firms are competing with rival firms s

Jul 10, 2021By Baek Byung-yeul
[ANALYSIS] Korea aspiring to become battery business champion
Companies

Hyundai Motor forges partnership with Canadian hydrogen firm to develop water electrolysis system

Oh Jae-hyuk, vice president and head of Energy Business Development at Hyundai Motor Group, poses with Raveel Afzaal, president and CEO of Next Hydrogen, after signing a partnership, in this photo provided by the Korean automaker, Friday. Courtesy of Hyundai Motor GroupBy Baek Byung-yeulHyundai Motor Group has signed a partnership with Next Hydrogen, a Canada-based company specializing in producing hydrogen from renewable sources, to cooperate in the development of water electrolysis technology to produce green hydrogen more economically, the automaker said Friday.While hydrogen has emerged as an alternative to fossil fuel, there has been the drawback of the high cost and excessive energy consumption in producing the gas.Currently, 95 percent of global hydrogen production is based on fossil fuels, which is called grey hydrogen. This is the most economic method, but industry analysts forecast more hydrogen companies will move toward blue or green hydrogen, because grey hydrogen emits greenhouse gases during the production phase.Blue hydrogen is made of natural gas and emits less CO2,

Jul 9, 2021By Baek Byung-yeul
Hyundai Motor forges partnership with Canadian hydrogen firm to develop water electrolysis system
Companies

Renault Samsung's SM6 sedan offers best-in-class safety, comfort features to woo consumers

Renault Samsung's SM6 sedan / Courtesy of Renault Samsung By Baek Byung-yeulRenault Samsung is hoping that its SM6 sedan will woo customers in the mid-size passenger car market which is hotly contested by both domestic and foreign carmakersThe automaker said Friday that the mid-size sedan boasts the best safety and comfort features in the segment, and also comes at a more affordable price compared to its rivals.“The mid-size sedan is an important one in the market as the vehicles have been preferred by the public for a long time. We think the SM6 has set the standard for what a mid-size sedan should be. Currently, the flagship mid-size sedan in the domestic auto market is Renault Samsung's SM6,” a company official said.The SM6 is the first mid-size car to feature LED Matrix Vision headlamps, which improve the safety of the vehicle as the high-tech lighting system recognizes road conditions with a front-vehicle camera that automatically adjusts the level of light.Ins

Jul 9, 2021By Baek Byung-yeul
Renault Samsung's SM6 sedan offers best-in-class safety, comfort features to woo consumers
Tech & Science

LG Electronics keeps earnings surprise streak alive

By Baek Byung-yeulLG Electronics continued its strong performance during the April-June period thanks to soaring demand for home appliances and TVs.According to the company's preliminary earnings guideline for the three-month period ended June 30, announced Wednesday, the company estimated its sales during the latest quarter came to 17.11 trillion won ($15 billion), up 48.4 percent, year-on-year. It also estimated its operating profit was at 1.11 trillion won, up 65.5 percent from a year earlier. The sales figure marked an all-time high among the company's second-quarter performances. Also, it is the first time that LG's operating profit has exceeded 1 trillion won for two quarters in a row.LG said performance of its mobile communications unit, which supervises its smartphone business, will be reported as discontinued operations in the second-quarter earnings as the company already abandoned the business.LG will specify the breakdown of its divisional performance later this month. Analysts attributed LG's better-than-expected second-quarter performance to the solid sales of its tradi

Jul 7, 2021By Baek Byung-yeul
LG Electronics keeps earnings surprise streak alive
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