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Kim Bo-eun

Korea Times Digital Content Reporter

Bo-eun leads the digital content team. She has covered foreign affairs, North Korea, tech, economy and gender issues at The Korea Times. She did a short stint at the South China Morning Post in Hong Kong, where she obtained a new perspective on news production and life. Small sources of joy for her are lounging in the sun, having a good latte and swimming.

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Companies

7 TV home shopping businesses fined W4 bil. for unfair practices

Korea Fair Trade Commission Chairwoman Joh Sung-wook / Korea Times fileBy Kim Bo-eunThe Korea Fair Trade Commission (KFTC) said Sunday it had imposed 4.15 billion won ($3.46 million) in fines on seven TV home shopping businesses for unfair practices such as making vendors pay for promotional costs. The seven are GS Shop, Lotte Homeshopping, NS Shopping, CJ OnStyle, Hyundai Home Shopping, Home & Shopping and Gongyoung Shopping."We have ordered the seven companies to correct their practices and pay a combined total of 4.15 billion won in fines for violating regulations on large retailers using their superior status in operations with vendors," the KTFC stated.The watchdog said the businesses used their superior status to force unfair practices on vendors, such as making them pay for promotions or making employees of vendors work for them, from January 2015 to June of last year.The seven companies made their vendors pay for giveaways provided for promotional purposes. The firms also made employees of vendors work as guests, models, or audience members on their shows without contract

Dec 5, 2021By Kim Bo-eun
7 TV home shopping businesses fined W4 bil. for unfair practices
Tech & Science

Samsung pursuing 'dual-track' approach in OLED business

Samsung Display's Asan production plant / Courtesy of Samsung DisplayGrowing chance of LG supplying OLED panels to SamsungBy Kim Bo-eunSamsung is set to launch its quantum-dot organic light-emitting diode (QD-OLED) TV at CES 2022, but questions are mounting as to whether it will be able to meet market demand for new TVs as its display affiliate has a limited production capacity.Samsung Display held a ceremony marking the launch of QD-OLED panel production at its Asan plant, Tuesday. The plant's Q1 Line, which had previously produced liquid crystal display (LCD) panels, has been switched to manufacture QD-OLED panels after Samsung reduced its production of LCDs, which had lost cost-competitiveness to Chinese display makers.QD-OLED is a hybrid technology that combines quantum dots and OLED panels, which Samsung says enables brighter and broader color expression, deeper blacks, a faster response and wider viewing angles. In October 2019, Samsung Display stated it would invest 13 trillion won into QD-OLED panels by 2025, with plans to launch mass production in 2021.Analysts said Samsung

Dec 1, 2021By Kim Bo-eun
Samsung pursuing 'dual-track' approach in OLED business
Companies

GS Group scion promoted to executive vice president

By Kim Bo-eunGS Group Executive Vice President Huh Suh-hong / Korea Times fileGS Group scion Huh Suh-hong was promoted to executive vice president as part of the latest promotions at Korea's eighth-largest business conglomerate on Wednesday. Huh has served as senior vice president of the group as the head of new businesses. GS's businesses include energy, retail and construction. He is also the oldest son of Samsung International Chairman Huh Kwang-soo and the nephew of the late honorary chairman of LG Construction Huh Joon-koo. GS Group Chairman Huh Chang-soo is Huh Joon-koo's eldest son.Most GS Group's affiliates retained their CEOs based on performance. GS EPS, the power generation affiliate, tapped Chung Chan-soo as its CEO and GS E&R, the energy unit, appointed Kim Seok-hwan as its chief executive. GS Global, the trading arm, tapped Lee Young-hwan as its CEO and Parnas Hotel appointed Yeo In-chang as its chief executive.Chung served as CEO of GS E&R and Kim as CFO at GS Holdings. Lee headed the supply and trading division at GS Caltex, the group's energy and chemical aff

Dec 1, 2021By Kim Bo-eun
GS Group scion promoted to executive vice president
Companies

ANALYSIS Korea asked to offer more tax, R&D benefits for chip industry

Workers are seen at Samsung Electronics' chip plant in Hwaseong, Gyeonggi Province / Courtesy of Samsung ElectronicsSamsung, SK in need of R&D, facility investment support in global chip raceBy Kim Bo-eunConcern is growing over Korean chipmakers losing their edge at a time when major economies are stepping up support for key industries including semiconductors and batteries for electric vehicles (EVs). The government is urged to speed up provision of necessary support in R&D and investments into production facilities to prevent these firms falling behind major competitors.This is all the more dire given the competition to gain global hegemony over chips has become a national-level race rather than simply one among semiconductor-making companies.The U.S. Congress is seeking to pass the “Chips for America Act,” legislation providing $52 billion to chipmakers to support semiconductor manufacturing, R&D and supply chains security. The bill offers income tax cuts for chip equipment and manufacturing facility investment through 2026.The U.S. is boosting support for

Dec 1, 2021By Kim Bo-eun
[ANALYSIS] Korea asked to offer more tax, R&D benefits for chip industry
Companies

Net regulator hints action against Netflix

Netflix Vice President of Public Policy Dean Garfield speaks at a press conference held at the JW Marriot Hotel Dongdaemun Square Seoul, Nov. 4. YonhapBy Kim Bo-eunKorea's broadcasting and telecom regulator implied Tuesday that it is open to working with its overseas counterparts in addressing the issue of getting content providers such as Netflix to pay network fees. Netflix does not pay telecom companies to use their networks, which has become an issue for the network operators, given that the surge in traffic is requiring network upgrades and resulting in further costs.Netflix Vice President of Public Policy Dean Garfield visited Seoul in early November to reiterate the company's stance to government officials and lawmakers: that it would not pay network fees. Korea Communications Commission (KCC) Vice Chairwoman Kim Hyun, in her meeting with Garfield, asked the U.S. entertainment platform to take responsibility."We believe there is some consensus around the world among regulators (that action needs to be taken)," a KCC official said. "But we are not at a stage where discussions a

Nov 30, 2021By Kim Bo-eun
Net regulator hints action against Netflix
Companies

Genesis offers glimpse of flagship G90 sedan

Hyundai Motor's Genesis luxury vehicle division unveiled on Tuesday the exterior of its newest premium flagship sedan, the G90. The model, known to incorporate Level 3 self-driving features, is projected to be launched in late December. Courtesy of Hyundai Motor

Nov 30, 2021By Kim Bo-eun
Genesis offers glimpse of flagship G90 sedan
Companies

SK On considers pre-IPO for financing investments

By Kim Bo-eunSK On CEO Ji Dong-seop / Courtesy of SK InnovationSK's battery affiliate is moving quickly to secure much-needed funds to finance aggressive investments in the U.S. and China.SK Innovation split off its battery business in October into a wholly owned subsidiary, SK On, as a means to raise funds via an IPO.Given the company's stock market debut is set to take time, as SK has yet to generate profit with its battery business, it is considering a pre-IPO, according to reports.Local reports stated SK On has selected managers for the project, which would offer SK On stocks to foreign investors prior to its stock market listing.SK On's valuation is estimated at around 30 trillion won ($25.12 billion), and the company is reportedly seeking a pre-IPO for 10 percent of its valuation, which comes to 3 trillion won."We are currently reviewing a variety of strategies to secure financial soundness and funds for new investments, but details have not been decided,” SK Innovation stated on Friday. SK, the latest market entrant among Korea's top three battery makers, has moved aggre

Nov 26, 2021By Kim Bo-eun
SK On considers pre-IPO for financing investments
Companies

Eastar Jet to start fresh with stock retirement

Independent lawmaker Rep. Lee Sang-jik / Korea Times photo by Bae Woo-hanBy Kim Bo-eunEastar Jet has cleared former shareholders as it takes steps according to its restructuring plan approved by a Seoul Court earlier this month.The Seoul Bankruptcy Court earlier this month approved the budget carrier's restructuring plan, enabling property developer Sung Jung to proceed with its planned acquisition.Sung Jung on Nov. 5 acquired 100 percent of Eastar Jet's shares via a capital increase. Existing Eastar Jet shares were retired in the process, which means the 202.3 billion won worth of Eastar Jet shares owned by Eastar Holdings was stripped of financial value. This means company founder Rep. Lee Sang-jik and his family members will not be paid for the takeover of the air carrier.Lee had controlled management of the budget carrier via Eastar Holdings that owned 41.65 percent of shares. Eastar Holdings' shares were wholly owned by Lee's son and daughter.Lee is currently on trial over allegations of embezzlement and breach of trust. Prosecutors on Thursday sought a 10-year prison term for L

Nov 26, 2021By Kim Bo-eun
Eastar Jet to start fresh with stock retirement
Companies

ANALYSIS Samsung facing mounting tasks after Lee's US trip

Samsung Electronics Vice Chairman Lee Jae-yong answers reporters' questions at the Seoul Gimpo Business Aviation Center, Wednesday. He arrived in Seoul after a four-day trip to the U.S., during which Samsung's decision to build a foundry plant in Taylor, Texas, was unveiled. Korea Times photo by Shim Hyun-chulLee's remark 'sober reality' to indicate tech giant has much to work onBy Kim Bo-eunSamsung chief Lee Jae-yong's first trip to the U.S. in five years was meaningful in some ways. He met with White House officials to discuss Samsung's role in addressing supply chain problems. Samsung also finally announced its selection of Taylor, Texas, as the site for its upcoming $17 billion foundry plant.But his first remarks after returning to Seoul, Wednesday, addressed the "sober reality" he witnessed and acknowledged while meeting with chief executives of Samsung's key U.S. clients. During his trip, Lee held a series of meetings with Google CEO Sundar Pichai, Microsoft CEO Satya Nadella, as well as Verizon CEO Hans Vestberg and Moderna co-founder and board chairman Noubar Afeyan."I feel b

Nov 25, 2021By Kim Bo-eun
[ANALYSIS] Samsung facing mounting tasks after Lee's US trip
Companies

LG Energy Solution gearing up for January IPO

By Kim Bo-eunLG Energy Solution (LGES) CEO Kwon Young-soo / Courtesy of LGESLG's battery affiliate is on track for its IPO, which is set to take place in January of next year. LG Energy Solution (LGES) has moved aggressively to make up for damage and restore market trust in the past months following battery fires, and now awaits its planned debut on the local stock market. The Korea Exchange is currently reviewing the battery maker's filing for its IPO and is expected to issue an approval soon.LGES had initially submitted documents for review in June, but the process was suspended in the following months due to a series of fires in GM's Chevrolet Bolt EVs, fitted with LG batteries. The battery maker's parent company, LG Chem, saw its stock plummet in August. LGES and LG Electronics, which supplied the battery modules, settled the recall issue by setting 1.4 trillion won as expenses to pay GM for the Bolt EV recalls.Taking into consideration the time IPO proceedings usually take, LGES is expected to list on the main KOSPI bourse in January.The battery maker's value is known to have be

Nov 24, 2021By Kim Bo-eun
LG Energy Solution gearing up for January IPO
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