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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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Banking & Finance

ANNIVERSARY SPECIAL 'Glass wall needs to be smashed, along with ceiling'

Female leaders in corporate sector call for men to share understanding, offer supportBy Kim Bo-eunThe system of gender quotas remains highly contested by men, and some women also contend that it does them no good, as it reinforces the idea that they need affirmative action to advance up the corporate ladder.However, four female leaders in the corporate world say these thoughts are based on a misunderstanding of the system."Female employees tell me that a gender-based quota system is unnecessary, that they will be able to climb up the corporate ladder based on their capabilities," CJ CheilJedang Executive Vice President Min Hee-kyung said in a roundtable discussion with The Korea Times, Oct. 20. "However, structurally, most companies have deprived female employees of gaining the same footing in advancing to top positions.”At CJ CheilJedang, the food and bio arm of CJ Group, women account for 18 percent of executives, which is among the highest ratios at consumer goods companies here. But most of them have spent decades in only marketing or R&D, Min said."There are no general

Nov 1, 2020By Kim Bo-eun
Companies

Which Korean companies lead in gender equality?

By Kim Bo-eungettyimagesbankConsumer goods and IT companies, and foreign financial firms all showed superior scores on gender equality, according to ratings by corporate tracker CEO Score and Women in Innovation, a corporate body fostering female leaders.Korea's top 500 companies were rated in terms of gender ratios in employment and executives, pay discrepancies and on programs fostering female employees.The top 10 were: Naver, AmorePacific, Youngone Corporation, Kakao, Citibank Korea, Hanmi Pharmaceutical, Hansae Fashion Worldwide, CJ CGV, LF and Standard Chartered Bank Korea.Consumer goods companies accounted for four of the top 10 spots, followed by services industry firms with three.Women made up 25 percent or more of mid- and senior-level managerial positions at these companies. They also had mentoring programs to foster female executives, or a committee to organize events for female employees. The companies also had superior welfare benefits for female employees regarding childbirth and childcare leave.At IT giant Naver, women worked there an average of 6.4 years, compared wit

Oct 30, 2020By Kim Bo-eun
Which Korean companies lead in gender equality?
Banking & Finance

Brokerages fiercely fight back over Lime sanctions

Former Shinhan Investment CEO Kim Byung-chul heads to a sanctions review committee meeting at the Financial Supervisory Service on Yeouido, Seoul, Thursday. / YonhapBy Kim Bo-eunBrokerages that promoted Lime Asset Management's funds are battling to reduce penalties set to be imposed on their former and current chiefs over the mis-selling of the “products.”The Financial Supervisory Service (FSS) held a sanctions review committee meeting Thursday where former and incumbent CEOs of three securities firms ― Shinhan, Daishin and KB ― attended to fight against their notified penalties. But the meeting failed to reach a conclusion and discussions will resume Nov. 5.The authority is known to have determined that the subjects be suspended from their positions and told them this before the meeting.The suspension would bar the former and current CEOs from serving in the financial sector for four years.The FSS believes the sanctions are justified because as chiefs of the securities firms they were responsible for ensuring the company had functioning internal control systems.Based on

Oct 30, 2020By Kim Bo-eun
Brokerages fiercely fight back over Lime sanctions
Health

Research team provides insight into COVID-19 lung damage

From left, KAIST professor Ju Young-seok, Dr. Lee Joo-hyeon of the University of Cambridge, National Institute of Health's head of viral disease research Choi Byeong-sun, Institute of Basic Science Director Ko Gou Young and Seoul National University Hospital professor Kim Young-tae / Courtesy of KAISTBy Kim Bo-eunA research team led by the Korea Advanced Institute for Science and Technology (KAIST) professor Ju Young-seok has set up a COVID-19 infection model, the university said earlier this week.KAIST said the model identifies the process in which the coronavirus destroys lung cells, which can contribute to the development of vaccines.The team derived cells from human lung tissue and grew them into 3D “mini lungs” to look into their response to the virus. This was developed because available laboratory strains of mice are not readily infected by the virus that causes COVID-19.The research team is comprised of Ju, Dr. Lee Joo-hyeon of the University of Cambridge, National Institute of Health head of viral disease research Choi Byeong-sun, Institute of Basic Science Direc

Oct 29, 2020By Kim Bo-eun
Research team provides insight into COVID-19 lung damage
Banking & Finance

Securities firms seeking penalty reduction for CEOs over Lime fiasco

By Kim Bo-eunThe lobby of the Korea Financial Investment Association's building on Yeouido in Seoul / Korea Times fileBrokerages are seeking to alleviate the penalties that their CEOs are facing over the mis-selling of funds of Lime Asset Management.The Financial Supervisory Service (FSS) earlier this month notified Shinhan Investment, KB Securities and Daishin Securities of sanctions former and current chiefs are facing over the case.The regulator is said to be seeking to impose weighty sanctions that will prevent the former and incumbent CEOs from serving in positions in the financial sector for up to five years.The FSS will convene a sanctions review committee meeting Thursday, where the CEOs will have the opportunity to defend themselves, and a conclusion will be reached on the penalties that will be levied.Once the FSS reaches a decision, the view will be forwarded to the Financial Services Commission for finalization. The Korea Financial Investment Association (KFIA), an interest group representing the interests of local securities firms, is reportedly preparing to submit a pet

Oct 28, 2020By Kim Bo-eun
Securities firms seeking penalty reduction for CEOs over Lime fiasco
Banking & Finance

Shinhan likely to keep leading group title this year

By Kim Bo-eunShinhan Financial Group appears likely to maintain its lead in earnings among the four major groups this year, after it unveiled 2.95 trillion won in accumulated net profit for the first three quarters of the year, Tuesday.Its earnings for the third quarter alone, 1.14 trillion won, came second to KB Financial Group's 1.17 trillion won.Shinhan and KB have engaged in cutthroat competition for the leading title. Shinhan took the throne as top financial group in the first quarter and first half of 2020 in earnings. KB ranked first in the second quarter.KB and Shinhan both exceeded 1 trillion won in quarterly net profit for the first time, in the third quarter.Shinhan beat KB in accumulated earnings for the first three quarters of the year, with 2.95 trillion in net profit. KB's net profit for the first three quarters of the year came to 2.88 trillion won.Shinhan's net profit for the third quarter saw a 31.1 percent growth from the previous quarter."The group's earnings show Shinhan's sustainable growth trajectory, based on diversified revenue sources, such as overseas busin

Oct 27, 2020By Kim Bo-eun
Shinhan likely to keep leading group title this year
Tech & Science

LG licenses ice-making tech for Swedish multinational Electrolux

By Kim Bo-eunThe photo shows LG Electronics' refrigerator with an ice-maker attached to the fridge door. / Courtesy of LG ElectronicsThe Swedish home appliance manufacturer Electrolux signed a patent licensing deal with LG Electronics regarding its ice-making technology for French-door refrigerators, the Korean tech giant said Monday.Electrolux is a multinational company founded in 1919.LG Electronics said it registered for a patent for technology developed to place the ice maker inside the fridge to offer greater convenience for customers, given they don't need to bend down to open the freezer. French-door refrigerators have the refrigerated section on the top and the freezer at the bottom. LG owns more than 700 globally registered patents related to the technology of ice-making refrigerators.The technology has been applied to French-door refrigerators the company sells here and overseas."We will protect our intellectual property rights, which is the driver behind LG Electronics leading the global home appliances market," Jeon Saeng-gyu, head of LG's intellectual property center, sa

Oct 26, 2020By Kim Bo-eun
LG licenses ice-making tech for Swedish multinational Electrolux
Economy

FSC, FSS chiefs still poles apart

Financial Services Commission Chairman Eun Sung-soo, left, and Financial Supervisory Service Governor Yoon Suk-heun / Korea Times fileBy Kim Bo-eunThe heads of local financial authorities continue to be at loggerheads over multiple issues, stemming from a structural reform of a government body in 2008.Currently, the Financial Services Commission (FSC) is in charge of policies on developing the local financial industry. The Financial Supervisory Service, under the FSC, executes the policies and also supervises financial firms here.The two entities previously comprised one government body, but were split up in 2008.From the separation, the FSC earned authority over all matters concerning the FSS ― including its budget and personnel affairs ― which has led to soured relations between the bodies.The FSS as the supervisory agency has increasingly been voicing the need for independence from the FSC over its budget as well as authority over policymaking.This comes after the FSS was criticized for failing to prevent a series of scandals involving financial firms' mis-selling and mis-manageme

Oct 25, 2020By Kim Bo-eun
FSC, FSS chiefs still poles apart
Banking & Finance

Koreans in Indonesia still face W45 bil. insurance loss

Hana Bank's head branch in central Seoul / Korea Times fileBy Kim Bo-eunKoreans in Indonesia who signed up for savings insurance plans offered by local state-run insurer Jiwasraya are still unable to collect 45 billion won in claims as the insurer has defaulted.Jiwasraya sold 1.3 trillion won in savings insurance plans guaranteeing between 6 percent and 9 percent interest rates, at seven banks including Hana Bank's subsidiary in Indonesia.The insurance company, however, stated it was unable to pay customers whose policies matured in 2018 and 2019. Jiwasraya is currently on trial for allegations of fraud in managing investments. Among Jiwasraya policyholders who have yet to redeem their investments, there are 474 Koreans, and their investments amount to 45.3 billion won.Out of the 474, nine policyholders have received payments, but for the remaining 465, the issue has been pending for two years.Regarding the distribution of the policies, Hana Financial Group acknowledged last year that mis-selling had occurred. The savings insurance plans were found to have been promoted as savings pr

Oct 25, 2020By Kim Bo-eun
Koreans in Indonesia still face W45 bil. insurance loss
Banking & Finance

Shinhan partnership with Grab Vietnam

Shinhan Financial Group's Vietnam Country Manager Shin Dong-min, third from left, poses with ride hailing firm Grab's Vietnam CEO Nguyen Thai Hai Van, second from left, after the two signed an agreement to foster startups and expand digital financial services in the Southeast Asian country, at Grab Vietnam's headquarters in Ho Chi Minh, Tuesday. / Courtesy of Shinhan Financial Group

Oct 22, 2020By Kim Bo-eun
Shinhan partnership with Grab Vietnam
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