Korea Times Digital Content Reporter
Kwak Yeon-soo is a digital editor at The Korea Times creating, editing and curating digital content for the newspaper’s website, mobile app and social media. She previously covered a diverse array of cultural, political and business topics.
Hyundai Motor America President and CEO Jose Munoz, second from right, poses with Korean Ambassador to the U.S. Cho Yun-je, second from left, and other guests at the event celebrating the 21st anniversary of the Hyundai Hope On Wheels campaign in Washington, D.C., Friday. The company said it will donate $16 million this year to fund 76 research projects on cancers that affect children. / Courtesy of Hyundai Motor
SK Group Chairman Chey Tae-won delivers a speech at SK Night held in Washington D.C., Thursday. Courtesy of SK GroupBy Kwak Yeon-sooSK Group Chairman Chey Tae-won said the company is looking for “alternative ways” forward in the face of Japan's export curbs on key materials for the production of semiconductors and display panels.At the SK Night corporate event held in Washington on Thursday (local time), he told reporters that Japan's export curbs can hurt global supply chains.“If Japan does not sell us goods, we need to get them from another place,” Chey said. “But for some key materials, we cannot replace them because otherwise global supply chains would be hit hard.”Regarding Korea's localization efforts, Chey said he would seek alternatives rather than focusing solely on localization.“I don't mean it as ruling out localization of high-tech materials. However, I believe we should open the door to a variety of partners, including Korean companies,” Chey said. Chey also mentioned that the company will learn to cope with geopolitical ri
Kalli Swaik, head of Asia and new markets at Ben & Jerry's, speaks at a press conference for launching the ice cream brand in Korea at Ben & Jerry's House set up in Yeonnam-dong, Seoul, Thursday. Courtesy of Ben & Jerry'sBy Kwak Yeon-sooRenowned chunk-filled ice cream brand Ben & Jerry's has arrived in Korea, and the company said Thursday it seeks to fulfill domestic consumer cravings and promote social values here at the same time. “Ben & Jerry's is different from other ice cream brands because it has been an active advocate for social justice and equity,” Kalli Swaik, head of Asia and new markets at Ben & Jerry's, said during a press conference in Seoul. “We've been involved in combating climate change, promoting LGBT rights and stopping racism.” She added the brand is trying to do the same in Korea by building relationships with local change makers, such as climate activist groups and charity organizations. “In Korea, we've established a partnership with Sarang Ilter to provide work opportunities to the intellectually disabled
By Kwak Yeon-sooBusinesses are expressing concern about the government's possible move to extend the legal retirement age to 65 years from the current 60, according to industry officials, Thursday.They said extending the retirement age could further increase the burden of companies already reeling from the sluggish economy and unfavorable business environment. An official at one of Korea's major business associations said although the retirement age extension could be a viable option to cope with the rapid demographic change, opinions are mixed among different economic players, and the government should seek a social consensus.“Extending the legal retirement age could hamper youth employment at a time when the nation is struggling to create jobs, especially for young graduates,” the official said on condition of anonymity. “It could worsen the generational conflict.”The unemployment rate for young adults ― those aged between 15 and 29 ― stood at 7.2 percent in August, according to data from Statistics Korea. On Wednesday, the government announced it was consid
Korean, Chinese and Japanese youths with disabilities pose for a group photo in front of Gyeongbok Palace in Seoul, Aug. 14. / Courtesy of Lotte Duty FreeBy Kwak Yeon-sooLotte Duty Free has invited foreign youths with disabilities on a tour around Seoul to experience traditional and modern culture here, the company said Wednesday. About 20 disabled people from Korea, Japan and China participated in the cultural exchange program, co-organized by Disabled People's International (DPI) Korea. Under the event designed to promote “barrier-free” tourism, attendees went to Lotte Duty Free Family Concert, an annual music festival, and visited major tourist attractions in Seoul.The company said it plans to make popular tourist spots in Seoul accessible to the disabled. “There are many disabled people who have not yet visited Korea just because prime tourist spots lack accessible infrastructure,” a Lotte Duty Free official said. “We wanted to hear from Chinese and Japanese youths and make all-out efforts to make tourism more accessible to everybody.”After th
By Kwak Yeon-sooPOSCO's SOx scrubber steel developed for use in seawater / Courtesy of Hyundai Heavy Industries Power SystemPOSCO has succeeded in mass-producing high alloy steels that are essential for sulfur oxide (SOx) scrubber systems for ships, the company said Wednesday. Due to the stringent International Maritime Organization (IMO) regulations to remove sulfur and harmful emissions from ships, the SOx scrubber will be applied to more than 12,000 vessels over the next five years. Through extensive research and development, POSCO has succeeded in mass-producing “S31254,” a high-alloy stainless steel developed for use in seawater. The steel contains high levels of molybdenum and nitrogen, providing high resistance to pitting and crevice corrosion as well as high strength compared with conventional stainless steels, according to POSCO. This type of steel has already been supplied to manufacturers of marine SOx scrubber systems, such as Hyundai Heavy Industries Power System, Kangrim Heavy Industries, and STI.Local companies suffered from supply chain issues until last y
McDonald's Korea Managing Director Melanie Joh, right, poses for a photo with Ronald McDonald House Korea Chairman Jeffrey Jones at the nation's first Ronald McDonald House in Yangsan, South Gyeongsang Province, Wednesday. McDonald's donated 200 million won ($167,907) to the charity organization to help families of sick children in need. / Courtesy of McDonald's Korea
GS Group Chairman Huh Chang-soo, right, visits the construction site of a liquefied natural gas (LNG) receiving terminal located in Boryeong, South Chungcheong Province, Tuesday. Huh said the group needs to secure a stable supply of LNG to lead the domestic market. / Courtesy of GS Group
A model enters the cashierless, automated emart24 store located at Shinsegae I&C's new data center in Gimpo, Gyeonggi Province. / Courtesy of Shinsegae I&CBy Kwak Yeon-sooShinsegae I&C is going after Amazon Go by opening its first automated store that allows shoppers to take the items they need and walk out of the store without interacting with a check-out system, the company said Wednesday.The IT service providing unit of Shinsegae Group said it will set up the cashier-less grocery store at its new data center in Gimpo, Gyeonggi Province. Just like Amazon Go, the company will use “just walk out” technology and sensors to automatically detect what shoppers are buying. “We will apply advanced technologies, which include artificial intelligence (AI), computer vision and cloud point-of-scale (POS) into retail business solutions to offer an innovative shopping experience,” a Shinsegae I&C official said. The store will open to the public Sept. 30 after a trial run open only to the company's employees. Shinsegae I&C will manage technical operatio
Halo Top Creamery president and COO Doug Bouton poses for a photo with tubs of ice cream after an interview with The Korea Times at the Grand Hyatt Hotel Seoul, Aug. 21. Courtesy of Halo Top CreameryBy Kwak Yeon-sooHalo Top Creamery, the best-selling low-calorie ice cream brand in the U.S., arrived in Korea in July with an aim of bringing a disruptive change to the nation's ice cream market.Although Halo Top is now a multibillion-dollar ice cream brand, it started in the founder's kitchen with a simple question, “Can ice cream ever be healthy?”The company was founded in 2012 by Justin Woolverton, then a lawyer who has always loved ice cream and found comfort in eating it.It was in 2011 when Woolverton started experimenting at home to create ice cream that had less sugar, was healthier and still tasted good. “Halo Top was started by Justin, in his home kitchen with a $20 ice cream maker,” said Doug Bouton, president and COO of Halo Top Creamery. “Because he had low blood sugar, he wanted to make an ice cream he could eat a lot of and not feel terrible.&rd