my timesThe Korea Times
bkim

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.

Go to Email

Read more

Tech & Science

Naver to take part in Bank of Korea's digital currency test

gettyimagesbankBy Kim Bo-eunKorean internet services company Naver is set to take part in the Bank of Korea's (BOK) central bank digital currency (CBDC) tests. Its participation is set to serve as an advantage when the government selects private-sector partners in issuing the currency.CBDC is a term used to distinguish the digital currency of central banks from those of the private sector. Central banks around the world are currently developing and testing digital currency. As a frontrunner, the People's Bank of China has launched testing of its digital currency in cities such as Suzhou, Shenzhen and Chengdu.The BOK is preparing to test its CBDC in the latter half of this year. The central bank will run tests checking the utility and stability of the digital currency in a virtual environment. This simulation seeks to determine whether CBDCs can function, by running tests in manufacturing, issuing, circulating and redeeming the currency. The BOK will involve information technology firms and financial institutions of the private sector to provide technological assistance for the trial

May 14, 2021By Kim Bo-eun
Naver to take part in Bank of Korea's digital currency test
Companies

Samsung, LG perplexed by UN allegations of Uyghur rights violation

By Kim Bo-eunMajor conglomerates stated Friday they are not involved in human rights issues relating to China's Uyghur minority centered in the region of Xianjiang. Their remarks came after the U.N. Office of the High Commissioner for Human Rights (OHCHR) requested Korean companies clarify their transactions with China-based firms employing forced labor by the ethnic minority.In a recently unveiled letter to the Korean government, the OHCHR stated companies such as Samsung, LG Electronics, LG Display, Hazzys and Fila are possibly involved in human rights violations through supply chains in China and Xinjiang Uyghur Autonomous Region. The body separately reached out to the companies in March for their responses to the allegations. "We express our grave concern that the rights of minority workers from the Xianjiang Uyghur Autonomous Region, especially Uyghur, are not upheld in line with international human rights and labor rights standards," the letter said."We are concerned that these workers who are allegedly forcefully relocated across the country are subjected to forced labor."With

May 14, 2021By Kim Bo-eun
Samsung, LG perplexed by UN allegations of Uyghur rights violation
Tech & Science

New biz focus poses dilemma for telecom firms

gettyimagesbankBy Kim Bo-eunThe country's three major telecom companies saw their profits grow in the first quarter, backed by new business ventures in non-telecom sectors as they seek opportunities within new fields of information and communication technology such as artificial intelligence, big data and cloud computing.This may have pleased management at the mobile carriers, but they are facing increasing criticism for low internet speeds ― a fundamental problem they need to remedy as this is part of their core business.The controversy was ignited by a star YouTuber who claimed the actual upload and download speed of his 10 gigabit-per-second internet connection plan was only 100th of what was promised by his provider, KT. This “expose” snowballed, prompting the government to launch an inspection into the three telecom companies' internet speeds. Lawyers for consumers are now seeking to file a class action lawsuit against KT for substandard internet quality.Complaints over 5G speed have also continued in the two years since the “commercialization” of the lat

May 14, 2021By Kim Bo-eun
New biz focus poses dilemma for telecom firms
Tech & Science

SK Innovation expecting over W3 trillion in battery sales this year

By Kim Bo-eunSK Innovation said Thursday it expects sales generated from electric vehicle (EV) batteries to exceed 3 trillion won this year, doubling the figure for 2020. Sales generated by the SK affiliate's battery business came to 526.3 billion won in the first three months of the year, up 80 percent year-on-year. The battery business saw an operating loss of 176.7 billion won. SK Innovation is expecting its operating loss to shrink by 30 percent this year."Costs incurred in the early stages of a factory set-up including such costs generated at our Yancheng plant that went into operation in the first quarter and costs that arose from plants that will go into operation next year expanded the scale of losses," the company's head of battery business Yoon Hyung-jo said in a conference call on first-quarter earnings. He confirmed the battery maker's goal to reach the break-even point in 2022.The company is expecting battery sales to surge as production capacity continues to grow. SK Innovation's Chinese factories in Yancheng and Huizhou went into operation in the first quarter of this

May 13, 2021By Kim Bo-eun
SK Innovation expecting over W3 trillion in battery sales this year
Companies

Korea emerging as Asia's vaccine hub

By Kim Bo-eunKorea is quickly becoming a hub for producing vaccines and treatments for COVID-19 in Asia, based on its advanced manufacturing capabilities and capacity.Government officials told The Korea Times that Moderna is reviewing setting up a production plant on Incheon's Yeongjong Island, where Incheon International Airport is located.Incheon is a strategic location for bio firms, based on a variety of factors. It is home to a cluster of bio companies in Songdo International Business District. The cluster spanning 920,000 square meters houses 60 Korean and foreign bio firms and research centers, including Samsung Biologics, Celltrion and Merck. Samsung Biologics and Celltrion are pouring in 2.5 trillion won for setting up production facilities and R&D centers within the area. The two bio firms are in the process of constructing their third and fourth plants there. They are seeking to transform the area into the world's largest production base for biomedical products. The cluster is adjacent to Incheon Global Campus, which houses local campuses of renowned institutions such

May 12, 2021By Kim Bo-eun
Korea emerging as Asia's vaccine hub
  • EXCLUSIVE Moderna plans to build manufacturing facilities in Korea
Tech & Science

KT won't cancel treasury shares for time being

By Kim Bo-eun KT does not have any immediate plans to cancel its treasury shares, the company said Tuesday. Its remarks came as the company struggles to boost its share price.“The cancellation of treasury shares is currently not under review,” KT's Chief Financial Officer Kim Young-jin said in a conference call announcing the firm's first-quarter earnings. He said treasury shares could be used to further strengthen KT's competitiveness, to enter strategic partnerships and for corporate acquisitions.There has been increased attention on the possibility of KT canceling treasury shares as a means to boost its stock price following a similar move by rival SK Telecom.Instead, KT reaffirmed its plan for a 50 percent dividend payout ratio.“In May 2020, we unveiled a medium- to long-term plan that, on a standalone basis, based on an adjusted net profit, we will pay 50 percent as a dividend payout,” Kim told investors. “This is a commitment we have made to investors and shareholders and we intend to keep it.” The CFO al

May 11, 2021By Kim Bo-eun
KT won't cancel treasury shares for time being
Tech & Science

NCSOFT seeking changes for greater global appeal

By Kim Bo-eunNCSOFT said Monday that it is seeking fundamental changes to its existing games to expand its global user base, as the game developer is focusing increasingly on overseas markets for revenue."If you look at our strategy for massively multiplayer online role-playing games (MMORPGs) now, we recognize that needs are more detailed, and we see a wider variety of customer segmentation that we need to address to be able to cater to this market," Lee Jang-wook, the company's senior managing director for investor relations, said in a conference call to release NCSOFT's first-quarter earnings."What we are trying to do now is not just take what we have done in Korea, change the language and launch it in the global market. We are trying to change the games themselves so that they have a stronger appeal and attractiveness to a global user base, in terms of the overall business model," he said.The Asian market is a strong region that drives NCSOFT's overseas sales. While the game developer saw 24.1 billion won in sales in the U.S. and European markets in the first quarter, sales came

May 10, 2021By Kim Bo-eun
NCSOFT seeking changes for greater global appeal
Tech & Science

LG Display gaining ground for annual dividends

By Kim Bo-eunLG Display CEO Jeong Ho-youngHandsome earnings projections for LG Display this year are increasing the possibility that the company will resume dividend payouts for investors as early as next year.The LG Group affiliate revealed its first-quarter performance, an “earnings surprise,” with revenue driven by a surge in demand for panels used in laptops, tablets and TVs amid the COVID-19 pandemic."It is a little early to be discussing dividends at this point, given dividends are paid out on an annual basis, and this will be decided upon at the general shareholders' meeting to be held next March after the earnings for 2021 are reported in January," a senior LG Display official said. "Resuming dividend payouts will depend on this year's earnings and the company's financial situation, and when the circumstances are right the management will consider this."Posting an annual profit will prompt the display manufacturer to resume dividend payouts that have been suspended for the past three years during which the company posted deficits. The firm is forecast to record an

May 10, 2021By Kim Bo-eun
LG Display gaining ground for annual dividends
Entertainment

All eyes on Disney Plus launch

Disney's main entertainment studios and film and TV libraries / Korea Times fileBy Kim Bo-eunThe launch of Disney's streaming channel in Korea is the focus of attention, as the entertainment giant's service is quickly expanding in Asia.Disney said last week it will launch its over-the-top (OTT) media service in Malaysia on June 1. This comes after Disney Plus was launched in Singapore in February.Disney earlier said it would open its service in Korea within this year. The launch is expected soon, given Disney suspended offering its content including its Star Wars and Marvel series to local OTT service providers last month. The U.S. firm also set up a partnership with local content producer Studio & New in April for the latter to provide content over the next five years.Disney is known to be in talks with network operators KT and LG Uplus for potential partnerships. Disney is seen likely to provide its content via the network operators' internet protocol TV (IPTV) services, as Netflix is already doing here.The launch of Disney Plus will likely challenge the local market for OTT se

May 9, 2021By Kim Bo-eun
All eyes on Disney Plus launch
Tech & Science

Unions wield increasing influence at tech firms

Samsung Display's campus in Asan, South Chungcheong Province / YonhapBy Kim Bo-eunUnions are exercising growing influence at tech firms amid an industry-wide movement by workers seeking better compensation.The wave of calls for better compensation was triggered by demands early this year by unions of major firms in the tech sector, such as SK hynix, SK Telecom and Naver. Employees have contended that they deserve better pay given their companies' sharp growth in earnings.Samsung Display, for instance, is facing a possible walkout by workers due to wage issues. The union at Samsung affiliate succeeded in winning majority support for a possible strike, based on a recent survey whose results were unveiled Saturday. Among the union members, 71.8 percent agreed to take action."The reason behind the overwhelming support for collective action is due to complaints against the management which has not been communicating with employees,” the union said in a statement.The conflict centers on the union's calls for better compensation. The union has been calling for a 6.8 percent wage hike

May 9, 2021By Kim Bo-eun
Unions wield increasing influence at tech firms
previous page
3132333435
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.