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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

Overseas sales to go into double digits this year: Kakao

By Kim Bo-eunKakao said Thursday it expects sales generated overseas to account for double digits in the proportion of its total sales this year, as it accelerates growth in the entertainment content business."We expect to be able to show Kakao's sales being diversified to overseas sources this year," CEO Yeo Min-soo said in a conference call on the company's first-quarter earnings. “Global content businesses have shown performances surpassing internal goals and market expectations for the past few quarters and we have confidence in these businesses.” He added that the IT giant will make aggressive investments in global marketing and content this year.Kakao has identified entertainment content as its core source of revenue. In January, it integrated related affiliates KakaoM with KakaoPage to launch the new entity Kakao Entertainment, strengthening the business and making inroads into overseas markets. Kakao Entertainment controls KakaoPage's intellectual property rights to 8,500 original stories, including webcomics and web-based novels. The business already has a presen

May 6, 2021By Kim Bo-eun
Overseas sales to go into double digits this year: Kakao
Tech & Science

Reporter's Notebook Why KT should consider canceling treasury stocks

Employees stand in front of KT's office in central Seoul in this file photo. Korea Times fileBy Kim Bo-eunFor years, angry shareholders have been creating a scene at KT's general shareholders' meetings held every March.This is because the telecom company's stock has been on a downward trajectory since May 2013 when it peaked at 41,250 won.Under the leadership of CEO Ku Hyeon-mo, KT has stepped up efforts to boost its share price and Ku has delivered results. KT's stock closed at 29,100 on Tuesday after plummeting to 17,250 won during the pandemic-triggered stock market crash in March 2020. But KT still has more work to do.A company's stock goes up when investors recognize its potential and decide to invest. This means KT needs to convince investors that it is more than a conventional telecom firm.This is essentially what KT has been doing as it prepares to transform into a digital platform company, including investing in artificial intelligence and developing a media content business.CEO Ku bought back 9,000 of the company's shares last year, as part of efforts to boost KT's stock pr

May 5, 2021By Kim Bo-eun
[Reporter's Notebook] Why KT should consider canceling treasury stocks
Companies

Park Chan-koo resigns as Kumho Petrochemical CEO

Kumho Petrochemical Group Chairman Park Chan-kooBy Kim Bo-eunKumho Petrochemical Group Chairman Park Chan-koo stepped down from his position as CEO and board member of the group's core affiliate, Kumho Petrochemical, Tuesday. His resignation is part of the group's transition to a board-centered management system, Kumho said.The synthetic rubber manufacturer stated Tuesday that its board had accepted Park's resignation and decided to appoint two new board members. The new members are: synthetic rubber expert Ko Young-hoon, who heads the company's R&D center, and managing director Ko Young-do, who specializes in accounting.The appointment of the new members is set to be approved at a shareholders' meeting on June 15. The new members, along with Senior Executive Vice President and CEO Baek Jong-hoon, will lead the company's management.Kumho Petrochemical said it has been seeking to strengthen its board-centered management system, appointing at a shareholders' meeting in March a pool of outside directors determined to have expertise and be capable of making decisions free from the in

May 5, 2021By Kim Bo-eun
Park Chan-koo resigns as Kumho Petrochemical CEO
Tech & Science

SKT, KT, LG going all-out to boost corporate value

From left: SK Telecom CEO Park Jung-ho, KT CEO Ku Hyeon-mo, LG Uplus CEO Hwang Hyeon-sik / Korea Times fileBy Kim Bo-eunMobile carriers are going all-out to boost their corporate value and cut their heavy dependence on the already-saturated and not-so-lucrative, conventional telecom-centric businesses.The central point for these moves is aimed at appealing to investors, as telecom stocks have remained lackluster for the past years. They are shifting their focus from the conventional telecom business to new areas of growth, and seeking additional means to push up stock prices.SK Telecom (SKT) said Tuesday that it will cancel 2.6 trillion won worth of treasury shares. The SK Group affiliate will cancel 8.69 million treasury shares ― almost the entirety of such shares ― on May 6. These shares amount to 10.8 percent of the total number of SKT stocks issued.The share cancellation decision, which was approved at a board meeting early Tuesday, will cut the number of its total floating stocks to 72.06 million from 80.75 million. Usually, share cancellations have the effect of boosting stock

May 4, 2021By Kim Bo-eun
SKT, KT, LG going all-out to boost corporate value
Tech & Science

Reporter's Notebook Netflix's freeloading should end

By Kim Bo-eunNetflix's earnings in Korea spiked last year, as people flocked to online-based home entertainment amid the COVID-19 pandemic.Netflix Services Korea raked in 414.45 billion won in sales in 2020, up 123.54 percent from the previous year backed by a surge in subscribers. Netflix Korea's subscribers exceeded 3 million as of the end of last year, up from 2 million in October 2019.Netflix and YouTube operator Google collectively account for more than 70 percent of online traffic generated here. But these foreign players do not pay the telecommunications firms for using their networks. Local content providers Naver and Kakao, on the other hand, are paying tens of billions of won each year in return for servicing their content using the companies' telecom infrastructure. This has long been a point of dispute here, as local firms are required by law to pay for network usage while global entities are not.Netflix is currently engaged in a suit with SK Broadband on the matter, with the Seoul Central District Court to deliver a ruling next month. KT and LG Uplus have partnered with

May 3, 2021By Kim Bo-eun
[Reporter's Notebook] Netflix's freeloading should end
Tech & Science

Samsung heirs take out massive loans to pay inheritance tax

Late Samsung Electronics Chairman Lee Kun-hee, center, with his family members at the Consumer Electronics show held in Las Vegas in 2010. Courtesy of Samsung GroupBy Kim Bo-eunThe widow and children of late Samsung Electronics Chairman Lee Kun-hee took out massive loans to pay the first portion of a 12 trillion won ($10.8 billion) inheritance tax, according to industry sources and media reports, Friday.The family plans to pay the tax in six installments over the next five years, the first of which is due April 30. The sources said that the Samsung heirs have borrowed a total of 400 billion won from two local banks ― Woori Bank and NongHyup Bank ― for the first payment. Both lenders declined to comment on the matter.Each of the lenders extended 200 billion won in loans via a special review body, according to sources. The loans are known to have been issued using Samsung affiliate stocks owned by the family members as collateral.Loans exceeding a certain level are handled by a special body at the head office of lenders. Such loans are not subject to banks' internal rules for general l

Apr 30, 2021By Kim Bo-eun
Samsung heirs take out massive loans to pay inheritance tax
  • Gov't remains unperturbed by mounting calls for pardoning jailed Samsung heir
  • Jae-yong bolsters grip on Samsung Electronics after inheritance
Tech & Science

W400 bil. losses incurred from Austin fab shutdown: Samsung

A Samsung flag is seen at the company's headquarters in southern Seoul. YonhapKorean tech giant expects better semiconductor earnings in Q2By Kim Bo-eunSamsung Electronics said Thursday that it incurred 400 billion won ($360 million) in losses from the temporary shutdown of its fabrication plant (fab) in Austin, Texas, earlier this year due to freezing weather conditions and power outages.An unseasonal snowstorm and cold snap hit Texas in February, causing power and water outages that forced the state government to order semiconductor manufacturers there to halt operations at their plants. Samsung said the Austin factory was now fully normalized, achieving a 90 percent production level, March 31."There were wafer production disruptions due to the stopping of the fab. About 71,000 wafers were affected and this corresponds to around 300 to 400 billion won in damages," Vice President Han Seung-hoon said in a conference call on the company's first quarter earnings.He said Samsung was in talks with the local government and utility firms there to prevent such disruptions from recurring. Th

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

Samsung heirs to donate half of Lee Kun-hee's legacy

The late Samsung Chairman Lee Kun-hee, center, is seen with his daughters Lee Boo-jin, left, and Lee Seo-hyun at the Consumer Electronics Show (CES) held in Las Vegas in 2010. On the right is his wife Hong Ra-hee. Courtesy of Samsung GroupSamsung family to pay record inheritance tax of $10.7 bil.By Kim Bo-eunHeirs of the late Samsung Group Chairman Lee Kun-hee will pay more than 12 trillion won ($10.7 billion) in inheritance taxes, while separately donating one trillion won to support the fight against COVID-19 and research into rare child diseases, the group announced Wednesday. The Lee family, including his wife and three children, also decided to donate around 23,000 works from the deceased's art collection, valued at around 2.5 trillion won, to national museums.The combined worth of the inheritance tax and donations is more than half of the late Lee's assets estimated at over 26 trillion won, including stocks, real estate and artwork. The legendary head of Samsung was the richest man in Korea.The family plans to pay the tax ― one of the largest ever imposed worldwide ― in six ins

Apr 28, 2021By Kim Bo-eun
Samsung heirs to donate half of Lee Kun-hee's legacy
  • Lee Jae-yong forecast to take father's shares to tighten grip
Tech & Science

Samsung says carmakers cannot internalize entire battery technology

Samsung SDI's booth at the International Electric Vehicle Expo, held on Jeju Island in 2016 / Courtesy of Samsung SDIBy Kim Bo-eunCarmakers will need to continue working with battery suppliers for electric vehicles (EV), Samsung SDI said Tuesday, given the “explosive” demand for EV batteries and the time it takes to secure technology and production capacity at a large scale.The Samsung affiliate's assessment came after leading EV manufacturers including Tesla and Volkswagen unveiled plans to internalize battery supply as a means to stabilize sourcing."EV battery production requires long periods of tech development and mass production capability and knowhow. Carmakers will go through trial and error and it will take time to internalize battery capacity at a large scale," Samsung SDI's Vice President Kim Jong-sung said in an earnings conference call upon announcing its first-quarter results. "Car manufacturers with large EV capacities will have difficulty internalizing total battery demand. It will be inevitable for them to maintain relationships with battery suppliers to s

Apr 27, 2021By Kim Bo-eun
Samsung says carmakers cannot internalize entire battery technology
Tech & Science

LG CNS's new biz as managed cloud service provider

Models promote LG CNS's new integrated cloud management service CloudXper ProOps in this photo provided by the company. The IT service provider said it was launching the new business as a managed service provider, which covers cloud infrastructure, applied systems, security and expert services. Courtesy of LG CNS

Apr 27, 2021By Kim Bo-eun
LG CNS's new biz as managed cloud service provider
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