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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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Tech & Science

LG, Hyundai to unveil Indonesia joint venture plan next week

By Kim Bo-eunLG's battery manufacturing unit and Hyundai Motor will unveil a joint venture in Indonesia in early June, sources said Tuesday.The two companies have been in discussion with Indonesian authorities over the investment for years, and Indonesian Investment Minister Bahlil Lahadalia appears to have visited Seoul for final arrangements before the venture plan is announced.The minister met with LG Energy Solution CEO Kim Jong-hyun and Hyundai Motor Group Chairman Chung Euisun on Monday, the first day of his four-day visit to Seoul.Under the joint venture, LG is set to supply its batteries for Hyundai's EV models to be produced in Indonesia. Hyundai is constructing a factory in Bekasi, 20 kilometers east of Jakarta, capable of producing up to 250,000 vehicles on an annual basis. The plant is nearing completion and is set to launch operations within the year. Hyundai is seeking opportunities in the market dominated by Japanese carmakers. The Southeast Asian country is considered a lucrative market given its vast population exceeding 200 million.Hyundai will start with internal c

May 25, 2021By Kim Bo-eun
LG, Hyundai to unveil Indonesia joint venture plan next week
Tech & Science

Telecom stocks on rally amid looming key rate hike

By Kim Bo-eunTelecom stocks are rallying as investors are flocking back to value stocks amid concerns of a looming U.S. key rate hike. Value stocks are typically mature businesses with relatively stable earnings, and many of them provide dividend payments. Investors opt for value stocks over growth stocks in periods of inflation as they tend to perform better.Among the strong-performing value stocks are those of telecom firms, which have seen double-digit growth in stock prices since early this year. SK Telecom (SKT), KT and LG Uplus have seen their stocks gain over 30 percent on average since the first trading day of 2021 on Jan. 4.This is also attributed to stable earnings as well as increased dividend payouts and their CEOs' commitment to boosting stock prices. All three companies saw surprise earnings in the first quarter, backed by growth in the number of 5G subscribers as well as new non-telecom businesses.SKT's operating profit totaled 388.8 billion won, a 29 percent jump from the first quarter of 2020

May 24, 2021By Kim Bo-eun
Telecom stocks on rally amid looming key rate hike
Tech & Science

Naver's US webtoon CEO recognized by Variety magazine

By Kim Bo-eunWebtoon Entertainment CEO Ken Kim / Courtesy of NaverThe chief of Naver's global webtoon platform's U.S. arm was recognized by Variety magazine as a “key player in the intersection of technology and creativity.” Webtoon Entertainment CEO Ken Kim was included in the list of 37 figures in the U.S. entertainment publication's first "Silicon Valleywood Impact Report" released last week. Korea's No. 1 internet portal launched Webtoon in 2004 and the service entered the U.S. in 2014.Variety characterizes figures in the report as "leaders overseeing the entertainment industry's transition to the digital world, focusing on streaming and direct-to-consumer content delivery, as they disrupt the worlds of production, distribution and exhibition, while also devising new methods of revenue generation, ranging from targeted advertising to new subscription models." The selected figures were with companies in the film, TV, music and games sectors."Kim works at the frontier of the anyone-can-be-a-digital-artist movement," Variety stated in the report. Kim joined Naver in 2002

May 24, 2021By Kim Bo-eun
Naver's US webtoon CEO recognized by Variety magazine
Tech & Science

Korea's top 4 groups eyeing greater presence in US market

Samsung, Hyundai, SK, LG to invest $39.45 bil. in chip, battery sectorsBy Kim Bo-eunKorea's top conglomerates are set to play a larger role in the U.S. supply chain for key sectors including semiconductors and electric vehicles (EVs), after promising to invest around $40 billion to establish manufacturing plants and related infrastructure in the coming years. This is an achievement for President Joseph Biden's administration which is seeking to secure critical high-tech supplies via building value chains on the continental U.S. as a means to contain China's growing influence. It is also a win-win situation for the Korean companies, as they get to play a substantial role in the supply chain for cutting-edge sectors, and subsequently acquire an increased market share. An upper hand in these industries is now considered par to military strength, as chips and electric batteries have become essential components in most, if not all devices used in the “digital era.”The pledged $39.45 billion in investments by Samsung, Hyundai, LG and SK came on the sidelines of the summit betwe

May 23, 2021By Kim Bo-eun
Korea's top 4 groups eyeing greater presence in US market
  • Samsung Biologics signs vaccine production deal with Moderna
Tech & Science

Korean battery makers to battle it out in US by forming joint ventures

SK, Ford agree to set up 'BlueOvalSK'By Kim Bo-eunLG and SK's corporate images / Korea Times fileSK Innovation (SKI) is seeking to challenge LG Energy Solution (LGES) in the U.S. electric vehicle (EV) battery market by forging a partnership with Ford, the second-largest automaker there in terms of market share. LG is already in the process of building a battery production plant in a joint venture with the top-ranked GM.Automobile manufacturers are currently rushing to build alliances with battery makers to secure a stable supply as the U.S. market for EVs is projected to grow exponentially. SKI and Ford signed an agreement Thursday to set up BlueOvalSK, a joint venture that will construct an EV batteries plant at a cost of 6 trillion won. Once completed, the facility will be able to produce battery cells and modules with an annual aggregate output of 60 gigawatt-hours. The companies are aiming to launch operations at the factory by 2025.“The joint venture will go beyond just collaboration between SK and Ford and play a key role in establishing and fostering the EV value chain t

May 20, 2021By Kim Bo-eun
Korean battery makers to battle it out in US by forming joint ventures
  • SK, Ford to form W6 tril. EV battery joint venture in US
Tech & Science

LG CNS strengthening B2B digital solutions

An LG CNS employee introduces the company's Digital Customer Experience Center (DCX) in this company-distributed photo. The LG affiliate set up the center in September and is scaling up its products that optimize the digital experience for customers accessing their client companies' platforms and websites. The DCX center utilizes the business experience LG CNS has accumulated over the past 30 years in assisting the digital transition of companies in various sectors ranging from finance and manufacturing to telecommunications. / Courtesy of LG CNS

May 20, 2021By Kim Bo-eun
LG CNS strengthening B2B digital solutions
Tech & Science

SK hynix seeks to take over Key Foundry

SK hynix headquarters in Icheon, Gyeonggi Province / Courtesy of SK hynix By Kim Bo-eunSK hynix, the world's second-largest memory chip maker, is seeking to acquire a 100 percent stake in Key Foundry, the former contract manufacturing unit of Korea-based Magna Chip.SK hynix could not confirm or offer details, but the firm appears on track to negotiate the acquisition of a full stake in Key Foundry. The acquisition will expand SK hynix's foundry capacity and strengthen its non-memory division.When deals are underway, the involved entities are typically required to keep mum as they sign a non-disclosure agreement (NDA). But SK hynix released a statement last week signaling the possibility of an acquisition, after the chipmaker's finance chief said in a conference call last month that the chipmaker will invest in foundries using 8-inch wafers.SK hynix CEO and Vice Chairman Park Jung-ho pledged in the statement to double the firm's foundry capacity through various means

May 18, 2021By Kim Bo-eun
SK hynix seeks to take over Key Foundry
Tech & Science

Reporter's notebook Korea needs to boost efforts to prepare for 6G

Countries are engaging in the race to become the first to launch 6G services. / gettyimagesbankBy Kim Bo-eunIt's been two years since fifth-generation (5G) telecommunication services were first rolled out in Korea in April 2019, and so it may seem early to focus on 6G. But given the launch of the next generation services is a long-term project, now is the time to speed up research and development.While 5G technology offers 20-times faster data speed than 4G long-term evolution (LTE) networks, it has yet to be seen what improvements 6G will be able to offer. Industry experts expect to see the new services commercialized by 2030, noting that 5G technology also took a decade to be developed and commercialized.The International Telecommunications Union (ITU) commenced research work on 6G in March last year. A 6G research timetable has been set up and the ITU plans to launch a future technology vision proposal in the first half of this year and have it completed by June 2023.Major countries including the U.S., Japan and China have already launched large-scale R&D projects on 6G techno

May 18, 2021By Kim Bo-eun
[Reporter's notebook] Korea needs to boost efforts to prepare for 6G
Tech & Science

Samsung plans to build 1st battery cell plant in US

Samsung SDI's booth at the International Electric Vehicle Expo, held on Jeju Island in 2016 / Courtesy of Samsung SDIBy Kim Bo-eunSamsung SDI is looking to build its first battery cell plant in the United States, as the market for electric vehicles (EV) there is set to see explosive growth, according to industry sources, Monday. The battery making unit of the nation's largest conglomerate already operates a plant for assembling battery packs in the U.S. state of Michigan, but is behind its rivals in efforts to secure U.S. market share."Considering the growth potential of the U.S. EV market, it makes sense for Samsung SDI to set up a production facility there," a source said.A tariff incentive is also a factor in this, as under the U.S.-Mexico-Canada Agreement (USMCA), battery manufacturers can enjoy tariff-free benefits if they base 75 percent of their production in the region by July 2025.The construction of the plant has become more likely given Samsung SDI will supply batteries to the U.S. EV startup Rivian, which is backed by investments from Amazon and Ford. This has raised spec

May 17, 2021By Kim Bo-eun
Samsung plans to build 1st battery cell plant in US
Companies

SK Bioscience vaccine plant gets EU approval

SK Bioscience's plant in Andong, North Gyeongsang Province / Courtesy of SK BioscienceBy Kim Bo-eunSK's vaccine contract manufacturer said Monday that it received quality approval from European authorities for its plant that produces COVID-19 vaccines here. Its Andong plant in North Gyeongsang Province is manufacturㅑㅜㅎ COVID-19 vaccines for U.K. company AstraZeneca on a contract basis, and it plans to do so for U.S. firm Novavax, once drug authorities approve the vaccine.SK Bioscience said that the European Medicines Agency determined its Andong plant met its good manufacturing practice (GMP) standards. GMP is the minimum standard Europe requires medicine manufacturers to meet in their production processes.The biopharmaceutical company received the European authority's approval in the contract manufacturing of AstraZeneca's COVID-19 vaccine on March 29. It also obtained approval for manufacturing the Novavax COVID-19 vaccine candidate on April 26. This case is the first where a local vaccine plant has been certified by European standards. SK Bioscience is seeking to receive the same

May 17, 2021By Kim Bo-eun
SK Bioscience vaccine plant gets EU approval
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