my timesThe Korea Times
baekby

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.

Go to Email

Read more

Companies

LG-SK battery settlement boosting parts suppliers

By Baek Byung-yeulWith LG Energy Solution and SK Innovation ending their dispute over battery technology for electric vehicles (EVs) last month, domestic makers of components, parts and materials in the industry have come under the spotlight with the expectation that large-scale orders will resume in the United States and Europe, analysts said Tuesday.The intellectual property battle between the two Korean battery giants created negative sentiment on related companies here, but now that they have settled the dispute, they are expected to see increased orders, the analysts added.They also said carmakers' efforts to develop their own in-house battery-making technologies to reduce their dependency on standalone makers has also made investors attach more value to these local firms in the EV business ecosystem.Among the four main components for EV batteries ― cathodes, anodes, electrolytes and separators ― POSCO Chemical is enjoying soaring orders for cathodes.The POSCO affiliate said it generated sales of roughly 550 billion won in battery materials including cathodes in 2020. As the com

May 4, 2021By Baek Byung-yeul
LG-SK battery settlement boosting parts suppliers
Tech & Science

LG Electronics, Mirae Asset forge partnership to invest in startups

LG Electronics Chief Strategy Officer Cho Ju-wan, left, Lee Man-hee, head of Mirae Asset Capital, pose for a photo after agreeing to invest in new businesses at the Four Seasons Hotel Seoul, Thursday. Courtesy of LG ElectronicsBy Baek Byung-yeulLG Electronics and Mirae Asset Group said Friday they have agreed to create a fund to invest in promising startups both at home and abroad as part of their efforts to find new business opportunities.The two companies held a signing ceremony in Seoul, Thursday, participated in by LG Electronics Chief Strategy Officer (CSO) Cho Ju-wan and Lee Man-hee, head of Mirae Asset Capital.Under the agreement, LG Electronics and Mirae Asset Capital will each invest 50 billion won ($45 million) to establish a 100 billion won fund. Mirae Asset Group will raise its 50 billion won from its affiliates, including Mirae Asset Capital and Mirae Asset Securities. Mirae Asset Capital will manage the fund over the next 10 years.“To respond swiftly to the rapidly-changing market environment, the two sides plan to make strategic investments in venture companies i

Apr 30, 2021By Baek Byung-yeul
LG Electronics, Mirae Asset forge partnership to invest in startups
Companies

KOTRA, Ministry of Justice join forces to prevent international investment disputes

KOTRA's Foreign Investment Ombudsman Kim Sung-jin, right, poses with Justice Minister Park Beom-kye after signing a memorandum of understanding to cooperate on preventing investor-state disputes at the former's headquarters in southern Seoul, Friday. Courtesy of KOTRABy Baek Byung-yeulKorea Trade-Investment Promotion Agency (KOTRA) has forged a partnership with the Ministry of Justice to deal with potential investor-state disputes, the state-run trade promotion agency said Friday.The legal process Investor-State Dispute Settlement (ISDS) lets investors sue countries for discriminatory practices. Currently, Korea has faced eight ISDS cases. Three of them were settled, while the remaining cases are ongoing.To help foreign investors and companies prevent possible disputes, the two organizations signed a memorandum of understanding at KOTRA's headquarters in southern Seoul. Under the agreement, KOTRA said its foreign investment ombudsman officials will cooperate with the justice ministry to support foreign firms doing business here.KOTRA said the essential points of the agreement aimed a

Apr 30, 2021By Baek Byung-yeul
KOTRA, Ministry of Justice join forces to prevent international investment disputes
Tech & Science

Samsung Group to minimize changes in governance

The late Samsung Group Chairman Lee Kun-hee visits the 2010 Consumer Electronics Show in Las Vegas with his family. Courtesy of Samsung GroupBy Baek Byung-yeulSamsung Group's ownership structure looks to be less affected by the over 12 trillion won in inheritance tax on the late Chairman Lee Kun-hee's fortune as his heirs are seeking to take out bank loans to pay the due taxes.Samsung said the heirs of the late chairman will pay over 12 trillion won ($10.8 billion) in inheritance taxes. The tax amount, which is one of the largest ever imposed worldwide, will be paid in six installments over the next five years, the heirs added.Attention has been drawn to how the heirs can prepare for such a large amount of tax, but industry officials said Thursday that some of the over 12 trillion won inheritance tax will be financed by credit loans ― an unsecured loan ― from local banks.Two local banks are set to provide the loans worth hundreds of billions of won to the heirs. One of the two banks held a credit review meeting in which it decided to approve the loan.“The heirs have applied for

Apr 29, 2021By Baek Byung-yeul
Samsung Group to minimize changes in governance
  • W400 bil. losses incurred from Austin fab shutdown: Samsung
  • Gov't remains unperturbed by mounting calls for pardoning jailed Samsung heir
Tech & Science

Lee Jae-yong forecast to take father's shares to tighten grip

Samsung owner family postpones allocation of Lee Kun-hee's shareholdingsBy Baek Byung-yeulSamsung Group announced Wednesday that the heirs of the late Chairman Lee Kun-hee will pay over 12 trillion won ($10.8 billion) in inheritance tax over the next five years, but did not detail the allocation of his shares in the group affiliates ― including the crown jewel, Samsung Electronics ― to his children.Given the shares allocation could directly affect the conglomerate's organizational structure, the issue has been of primary concern, and questions are being asked as to why Samsung deferred an announcement on how the late chairman's shareholdings will be divided.Samsung Group has retained a web-like governance structure linking Samsung C&T, Samsung Life Insurance and Samsung Electronics. The late chairman owned 4.18 percent of the shares of Samsung Electronics, 20.76 percent of Samsung Life Insurance, 2.88 percent of Samsung C&T and 0.01 percent of Samsung SDS.According to law, his widow, Hong Ra-hee, will inherit the largest share of 33.33 percent, while the only son, Samsung Ele

Apr 28, 2021By Baek Byung-yeul
Lee Jae-yong forecast to take father's shares to tighten grip
  • PHOTOS Samsung Chairman Lee Kun-hee's art collection
  • Samsung owner family donates art collection to national museums
  • Samsung heirs to donate half of Lee Kun-hee's legacy
Tech & Science

Samsung, NPEs eyeing LG's 5G patents

LG Electronics' smartphone with a rollable display is introduced during a press conference at the CES 2021, Jan. 11. Courtesy of LG ElectronicsBy Baek Byung-yeulSamsung Electronics and some non-practicing entities (NPEs) have shown interest in buying or using LG Electronics' fifth-generation (5G) mobile patents after LG announced in early April it was shutting down its money-losing mobile phone business, industry sources said Tuesday. “A lot of NPEs have approached LG Electronics for the possible acquisition of its 5G mobile patents,” a source familiar with the issue told The Korea Times asking for anonymity. LG's 5G mobile patents, unlike its hardware, are considered competitive.“Various scenarios are being discussed as LG has valuable patents in both long-term evolution (LTE) and 5G standard networks. Samsung Electronics is said to be interested in using these patents via a licensing agreement, not an acquisition,” the source added. In response to this, a Samsung Electronics official said, “We have not reviewed any plans.”An NPE is a company or p

Apr 27, 2021By Baek Byung-yeul
Samsung, NPEs eyeing LG's 5G patents
Tech & Science

KT, Samsung launch disaster network

KT technicians check equipment for a national disaster safety communications network, which the company and Samsung Electronics jointly installed, in this photo provided by the mobile carrier, Monday. KT said the emergency telecommunications system covers the entire country. Courtesy of KT

Apr 26, 2021By Baek Byung-yeul
KT, Samsung launch disaster network
Companies

Samsung Biologics expands drug manufacturing with TG Therapeutics

Samsung Biologics' plant in Incheon, west of Seoul / Courtesy of Samsung BiologicsBy Baek Byung-yeulSamsung Biologics CEO John RimSamsung Biologics has renewed its contract-based drug manufacturing deal to produce more drugs for U.S.-based biopharmaceutical company TG Therapeutics, the Samsung Group affiliate said Monday.The Korean biopharmaceutical development and manufacturing company said the two sides agreed to expand their deal for the supply of the drug Ublituximab for a contract price of $50.3 million, up from the previous $22.4 million. This contract manufacturing organization (CMO) deal is their fourth collaboration since the two companies first signed one in February 2018.TG Therapeutics has been developing Ublituximab, a monoclonal antibody drug to treat multiple sclerosis. The drug firm has submitted a biologics license application to the U.S. Food and Drug Administration (FDA) requesting approval for use of Ublituximab, which is in Phase 3 testing. Samsung Biologics said the minimum guaranteed contract amount for the company will be $278.1 million, if the drug developmen

Apr 26, 2021By Baek Byung-yeul
Samsung Biologics expands drug manufacturing with TG Therapeutics
Tech & Science

LG Electronics expands 'super-light' laptop lineup

Models pose with LG Electronics' new notebooks, Sunday. The company said it will launch a new 15.6-inch Gram notebook next month. Courtesy of LG ElectronicsBy Baek Byung-yeulLG Electronics has expanded the lineup of its ultra-portable notebook brand Gram to capitalize on the local laptop market, which has been on a rise, due to increased demand for IT gadgets amidst the COVID-19 pandemic.The company said Sunday that it will release new Gram notebooks with 15.6-inch displays next month. LG, which has sold Gram laptops with 14-, 16- and 17-inch displays, decided to add the 15.6-inch one to meet various consumer needs.“By adding a 15.6-inch product, we can establish a tight lineup covering each size of screen,” the company said. LG's Gram brand is known for emphasizing portable and lightweight products.In addition, LG offers various color choices for its LG Gram 360 laptop, which features a 360-degree hinge to convert it from a notebook to a tablet. “We added a black model for the 14-inch LG Gram 360 and a silver model to the 16-inch product,” the firm said.To bo

Apr 26, 2021By Baek Byung-yeul
LG Electronics expands 'super-light' laptop lineup
Companies

Hyundai Motor considers US production of IONIQ 5 EV

Hyundai Motor Group Chairman Chung Euisun / Courtesy of Hyundai Motor GroupChairman visits Alabama to check EV production line: sourceBy Baek Byung-yeulHyundai Motor Group Chairman Chung Eui-sun made his first trip to the United States recently after taking over the top spot at the conglomerate in October 2020, in what is seen as a move to seek clarity on U.S. President Joe Biden's push to boost an “eco-friendly” car industry.Hyundai said Sunday that Chung, using his private jet, visited the U.S. for seven days ― with Los Angeles being the first destination ― and returned home Saturday.The trip came as Korea's No. 1 carmaker has been considering establishing a production line for its latest electric vehicle (EV), the IONIQ 5, in the U.S.Chung visited the Los Angeles local subsidiary of the group and Alabama where Hyundai Motor operates a manufacturing plant; although a company official said, “It is hard to confirm the chairman's schedule.”A source said the chairman visited the Alabama factory to check on whether the production line there was suitable for the c

Apr 25, 2021By Baek Byung-yeul
Hyundai Motor considers US production of IONIQ 5 EV
previous page
211212213214215
next page

Top 5 stories

Korea Times
About Us
Introduction
History
Contact Us
Products & Services
Subscribe
E-paper
RSS Service
Content Sales
Site Map
Policy
Code of Ethics
Ombudsman
Privacy Policy
Youth Protection Policy
Terms of Service
Copyright Policy
Family Site
Hankookilbo
Dongwha Group
FacebookXYoutubeInstagram
CEO & Publisher: Oh Young-jinDigital News Email: webmaster@koreatimes.co.krTel: 02-724-2114Online newspaper registration No: 서울,아52844Date of registration: 2020.02.05Masthead: The Korea TimesCopyright © koreatimes.co.kr. All rights reserved.