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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

INTERVIEW 'Organizational software key to adaptation'

BCG Managing Director and Senior Partner Kim Yeon-hee speaks during an interview with The Korea Times at the consulting firm's office in central Seoul, Tuesday. / Korea Times photo by Choi Won-sukBCG senior partner says definition of retail is changingBy Kim Bo-eunCompanies that adopted remote working practices amid COVID-19 will soon have to decide how they intend to conduct business after the pandemic comes to an end.This is a difficult matter in itself, but a senior partner at Boston Consulting Group (BCG) says overhauling organizational and HR systems in alignment with the digital era are key tasks that need to be tackled first."Front-line managers at firms that have never allowed remote working are having trouble adjusting to the changes because they assess juniors based on conventional standards such as whether an employee is on time for work or whether they are present at their desk," BCG's Managing Director and Senior Partner Kim Yeon-hee said in an interview with The Korea Times, Tuesday."This indicates that remote working needs to come with changes in existing organizations

Dec 9, 2020By Kim Bo-eun
[INTERVIEW] 'Organizational software key to adaptation'
Banking & Finance

Mirae Asset Daewoo promotes Kim, Min to executive presidents

By Kim Bo-eunKim Byung-yoonMirae Asset Daewoo promoted Kim Byung-yoon and Min Kyung-boo to executive president positions, Wednesday.Kim has led the brokerage's innovation team since March 2017. Min has headed the management support division since December 2019.Kim and Min are among 66 officials at Mirae Asset Group's securities firm who have been promoted for 2021.Mirae Asset Global Investments, the group's asset management unit, promoted 37 officials, and Mirae Asset Life Insurance promoted 17.The group said it increased promotions for the wealth management division, which showed solid performance amid uncertainties prevailing in the COVID-19 situation. The group also stated the promotions reflected Mirae Asset's drive to offer innovative financial services.Min Kyung-boo"Next year, as a global investment group, we will contribute to boosting dynamism in innovative financial services in Korea and will offer customer wealth management services with a higher notch in quality,” the group stated.Mirae Asset Group is expected to achieve record earnings in 2020. It logged 1.5 trillio

Dec 9, 2020By Kim Bo-eun
Mirae Asset Daewoo promotes Kim, Min to executive presidents
Banking & Finance

Woori wins The Banker's 2020 global award for lenders

Woori Bank CEO Kwon Kwang-seok speaks at the lender's strategy meeting for the latter half of 2020 at Woori's headquarters in central Seoul, July 17. Courtesy of Woori BankBy Kim Bo-eunWoori Bank won The Banker's global award for lenders this year, for its digital services and response to the COVID-19 pandemic.The award was presented Dec. 2.The U.K. international financial affairs publication referred to Woori as being "at the forefront of international banking, from digital capacity to its customer services."Woori Bank introduced an artificial intelligence (AI) integrated screening system to strengthen its sanctions screening process in January. The system has proven useful in monitoring and classifying shipping documents. Woori Bank has filed a patent application for this new method of screening export and import shipping documents."A zero-based innovation system was also introduced, which examined business systems across all divisions of the bank, from beginning to end, and introduced multiple improvements to its operations," the publication said.The Banker also recognized Woori's

Dec 9, 2020By Kim Bo-eun
Woori wins The Banker's 2020 global award for lenders
Tech & Science

Google app store fees to widen gap between Netflix, local OTTs

By Kim Bo-eunAn image of Google Play store / Korea Times fileLocal over-the-top (OTT) media service providers are bracing for Google's introduction of fees for application developers on payments made to them here via the Google Play store. They fear the existing gap with Netflix will grow based on the new fees, which the foreign firm is not subject to.Google is set to introduce a 30 percent fee in September next year. This will add an additional burden on local OTT service providers such as Wavve, Tving and Watcha, which are already paying a 30 percent fee charged by Apple for payments made on its app store.This means if the subscription fee is 10,000 won, the firms pay Apple 3,000 won from each payment they receive. The companies have been charging subscribers greater fees to make up for the loss paid as fees to Apple. This has resulted in iPhone users becoming subject to higher subscription fees than people using Android phones.For example, Android users can sign up for Wavve plans ranging from 7,900 won to 13,900 won, but for iPhone users the subscription fees range from 12,000 wo

Dec 9, 2020By Kim Bo-eun
Google app store fees to widen gap between Netflix, local OTTs
Tech & Science

Rival firms SK Nexilis, ILJIN to neighbor in Kuching, Malaysia

By Kim Bo-eunThe concerns of ILJIN Materials are set to become a reality as its rival firm SK Nexilis is on track to build plants near to its established factories in Malaysia.The SK affiliate which manufactures copper foil for EV batteries appears to have selected such sites in the Southeast Asian country for the construction of multiple plants.A board meeting will finalize the decision before the end of the year, according to the company."The decision reached after visiting the multiple candidate sites this year will be finalized at a board meeting, which is usually held in the latter half of every month," an SK Nexilis official said, Tuesday. "The decision was made based on the advantages provided by local governments in terms of investments," he said, not denying reports about selecting plants in Malaysia.Earlier in August, reports from local media in Malaysia stated that Korean investors had expressed interest in investing 800 billion won in setting up factories in the state of Sarawak, and that local authorities pledged their support for the investments to be carried out.The of

Dec 8, 2020By Kim Bo-eun
Rival firms SK Nexilis, ILJIN to neighbor in Kuching, Malaysia
Tech & Science

Gov't to inspect Netflix over customer data violation

By Kim Bo-eunNetflix Korea is facing a government inspection over violations of the local customer data protection law.The law requires local firms to designate and disclose a person or division in charge of customer data protection, and a corresponding telephone number.However, Netflix Korea's website only discloses an email address of its division handling customer data. Rep. Yang Jung-suk of the National Assembly's committee on ICT and broadcasting on Friday said Netflix may be fined if it is found in violation of the law.Regulations state that violators of the law can be subject to up to 10 million won in fines.The government's committee on protecting customer data has stated that Netflix's failure to heed related regulations may subject it to inspection. Whether the company would become subject to a fine would be based on the findings from the inspection, the committee said.Netflix currently has 3.3 million paid subscribers. It saw subscription payments exceed 50 billion won in October this year.Meanwhile, the National Assembly's ICT and broadcasting committee is seeking to have

Dec 6, 2020By Kim Bo-eun
Gov't to inspect Netflix over customer data violation
Companies

Uniqlo closes flagship Myeong-dong store on faltering sales

Members of a civic group protest in front of a Uniqlo store in Gwanghwamun, central Seoul, Oct. 21, 2019, against an ad created by the Japanese fashion retailer, which they claimed disrespect Korean sex slaves for the Japanese military during World War II. Korea Times photo by Bae Woo-hanCOVID-19, anti-Japan movement hit fashion retailerBy Kim Bo-eunJapan's clothing giant Uniqlo is shutting its flagship store in Seoul's shopping district of Myeong-dong, amid a plunge in sales attributed to COVID-19 and the No Japan Movement initiated last year.According to Uniqlo's website, Sunday, the Myeong-dong store will operate until Jan. 31, 2021.The four-story Myeong-dong location is Uniqlo's second-largest store worldwide, after the one on New York's Fifth Avenue. The Myeong-dong outlet recorded 2 billion won in sales in a day when it opened in November 2011. After Uniqlo entered Korea in 2005, the brand earned popularity for its affordability, which drove a rapid growth in sales backed by nationwide expansion of stores. Yet trade restrictions slapped by Japan on Korea in July 2019 ignited a

Dec 6, 2020By Kim Bo-eun
Uniqlo closes flagship Myeong-dong store on faltering sales
Tech & Science

KT Ku to conduct reshuffle to facilitate digital transformation

KT CEO Ku Hyeon-mo speaks in a press conference held in southern Seoul, Oct. 28. Ku stated at the event plans for KT to make a leap to become a digital platform company. / YonhapBy Kim Bo-eunKT is expected to conduct its first personnel reshuffle under CEO Ku Hyeon-mo next month, with expectations that appointments will be made to boost the company's ongoing digital transformation.Ku earlier unveiled plans to transform KT into a digital platform company as he sees future growth engine opportunities in big data, artificial intelligence and cloud computing.Given this vision, a key challenge is slimming down KT's affiliates and increasing efficiency, to become aligned with these goals.KT currently has 44 affiliates in the sectors of finance, broadcasting, real estate development, online services, security, advertising and submarine cables, which employ around 64,000 people.In a press conference in October, Ku hinted that affiliates that were not aligned with the company's vision could be restructured."I have grown into an M&A expert here at KT, so I have been contemplating structura

Nov 28, 2020By Kim Bo-eun
KT Ku to conduct reshuffle to facilitate digital transformation
Tech & Science

Mobility biz becomes fifth key pillar for SKT

SK Telecom (SKT) CEO Park Jung-ho speaks at a shareholders' meeting held at the company's headquarters in central Seoul, Thursday. Shareholders approved the company's plan to set up a separate unit that will be handling mobility services. / Courtesy of SKTBy Kim Bo-eunSK Telecom's platform business in mobility services is set for a huge expansion, given that a new unit will be established to take charge of the business next month. It is on track to become one of the five key pillars that will drive the telecom company's transition into a global firm in information and communications technology (ICT).The country's top telecom operator said Thursday its decision to separate the mobility business unit by setting up a new corporate body received approval at a shareholders' meeting held the same day."Transportation is one of the areas where key expenditures are made, along with food and living costs, and mobility takes up the largest part of our lives after mobile services," SK Telecom CEO Park Jung-ho said at the shareholders' meeting. "The decision was made to launch a firm specializing

Nov 26, 2020By Kim Bo-eun
Mobility biz becomes fifth key pillar for SKT
Tech & Science

Kakao to take part in public IT infrastructure biz

By Kim Bo-eun Kakao Enterprise, the IT systems provider of Kakao, said Monday it will take part in the public sector IT infrastructure business.The affiliate said its artificial intelligence (AI)-powered chatbot passed the government's screening process, enabling it to be used for Q&A services at public institutions.The chatbot will be available for state-run organizations via a system set up last month by the government. The Ministry of Science and ICT, the Ministry of Economy and Finance and the Public Procurement Service established the system, through which public institutions can find the digital-based services they need and sign contracts immediately with the respective companies offering them.According to the company, its chatbot has adopted advanced machine learning technology, with which it has superior capabilities in sentence recognition compared to existing chatbots. This makes it possible to provide more accurate answers to questions that are asked, Kakao Enterprise said.Public institutions are cur

Nov 23, 2020By Kim Bo-eun
Kakao to take part in public IT infrastructure biz
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