my timesThe Korea Times
yeonskwak

Kwak Yeon-soo

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.

Go to Email

Read more

Companies

Korean food makers dump TV, flock to YouTube

A scene from Dongwon F&B's canned tuna commercial / Captured from YouTubeBy Kwak Yeon-sooFood and beverage companies have been reducing spending for TV commercials, while mobilizing more resources to promote their products on YouTube to reach increasingly digital-savvy young consumers, according to industry officials Monday.The transformation is intended to attract millennials and Gen Z who use YouTube and social media as primary tools to learn about products.According to Korea Broadcast Advertising Corporation (KOBACO) data, the Korea Advertising Index (KAI) for food and beverages shown on TV in August was marked at 84.6. A KAI reading below 100 reflects that sponsors are likely to reduce their spending on advertising, while a reading above 100 signals they are willing to increase spending on the platform. By medium, broadcast advertising lost ground. Terrestrial television, in particular, suffered the most at index 84.6, while cable TV was at 87.2, newspapers at 94.9 and radio at 89.7. In contrast to the overall decline, however, online and mobile advertising prospered with KAI

Aug 19, 2019By Kwak Yeon-soo
Korean food makers dump TV, flock to YouTube
  • YouTuber hits the spot with easy Asian recipes, humor
Companies

Major Korean firms suffer earnings shock

By Kwak Yeon-sooKorea's top 10 chaebol saw their combined operating profits more than halved in the January-June period from the same period a year earlier, data showed Sunday, mainly due to weak earnings of major tech firms such as Samsung and SK. The operating profits of the top 10 conglomerates, which have a combined 90 affiliates listed publicly on the stock exchange, came to 21.3 trillion won ($17.6 billion), down 54 percent from 45.8 trillion won posted a year earlier, according to the data from industry tracker Infobigs. In the second quarter alone, the combined operating profit of the nation's 10 leading firms stood at 8.11 trillion won, down 63 percent from 21.9 trillion won a year earlier.The decrease was attributable mostly to poor performances by major chipmakers. Samsung Electronics, the world's leading chip and smartphone maker, saw its operating profit fall 61.13 percent in the first half of this year, while that of No.2 chipmaker SK hynix lost 83.93 percent during the same period. The two companies cited price declines in their memory chip businesses and the slowing g

Aug 18, 2019By Kwak Yeon-soo
Major Korean firms suffer earnings shock
  • Seoul on alert over Hong Kong protest
Companies

SK to establish 'SK University' to nurture human capital

By Kwak Yeon-sooSK Group Chairman Chey Tae-wonSK Group has decided to establish “SK University,” a platform that combines the group's think tank and corporate training institute, to nurture human capital and prepare for the Fourth Industrial Revolution, the company said Sunday. “SK University,” which integrates the SK Research Institute for SUPEX Management and SK Academy, will be launched in January 2020. All courses will be open to SK employees only.The move comes in accordance with SK Group Chairman Chey Tae-won's management policy, through which he urged employees to grow the ability to respond proactively to the rapidly changing business landscape and emerging technologies.During regular meetings with SK employees, Chey has called on them to push for a “deep change” and venture into newfound areas, such as AI, the fifth-generation (5G) network, big data and digitization.“In the face of a paradigm shift toward the Fourth Industrial Revolution and a drastic change of business environment, it is time to invest in human capital,” Chey

Aug 18, 2019By Kwak Yeon-soo
SK to establish 'SK University' to nurture human capital
Companies

Japan's DHC TV revives 'hate speech' controversy

Panelists appearing on DHC TV make “offensive” remarks about Koreans and the country's history, Aug. 11. / Captured from YouTubeBy Kwak Yeon-sooDHC's beauty TV channel DHC TV has revived a controversy over comments panelists made earlier this week about Koreans and the country's history, worsening local consumers' anti-Japan animus. The show has broadcast a series of “offensive” remarks on Korea since Aug. 10. Panelists appearing on the show predicted the Korea-Japan trade dispute will cool down soon because Koreans are forgetful by nature.They also described Koreans' boycott of Japanese products as a “childish act.”In addition, panelists made historically incorrect remarks about Korea, including claiming that Hangeul, the Korean writing system, was standardized by Japan, and denounced Korean artwork depicting a wartime sex slave. On Tuesday, DHC Korea CEO Kim Moo-jeon apologized to local consumers over the remarks made on the show.“We deeply apologize for creating a controversy in regards to DHC TV,” Kim said in an official statement.

Aug 15, 2019By Kwak Yeon-soo
  • Sales of Japanese consumer goods sink on 'Boycott Japan' campaign
Economy

FTC struggling to collect fines

By Kwak Yeon-sooThe Fair Trade Commission's main office in Sejong / Korea Times fileThe Fair Trade Commission (FTC) has collected less than half the fines levied on corporations in 2018, raising questions about whether the corporate watchdog lacks the authority to enforce penalties.According to data from the National Assembly Budget Office, the antitrust regulator has collected 239.3 billion won ($197 million) out of 529.5 billion of penalties imposed on international and domestic companies since 2017. The collection rate is 45.2 percent. The rate was 60 percent in 2015 and 60.1 percent in 2016, but has fallen sharply since 2017. Data analysts said that because heavy penalties were levied in November and December, a significant amount was reported as unpaid in 2018.The National Assembly Budget Office also said the FTC should prepare for the possibility of losing the lawsuit against Qualcomm over its 2016 decision to fine the U.S. chip maker about 1 trillion won over what it called a monopoly on chip supplies and patent rights. The case is pending in the Seoul High Court. Even if some

Aug 15, 2019By Kwak Yeon-soo
FTC struggling to collect fines
Companies

'Brick toys boost creative thinking in children'

Ansbrick CEO Jimmy Heo speaks during an interview with The Korea Times at his office at Pangyo Techno Valley, July 12. / Courtesy of AnsbrickBy Kwak Yeon-sooUnlike typical toy designers who say that they have dreamed of entering the profession from a young age, Ansbrick CEO Jimmy Heo did not actually think it was a real career option. Instead, he pursued a career as a product developer, designing TVs, computers and robot vacuum cleaners at an electronics company. “I've always had an interest in engagement marketing and creating a business model that could appeal to both children and adults,” Heo said in an interview with The Korea Times.“At first I came up with wood crafts, but many feared it would be too dangerous for kids to play with wooden blocks. So, I switched to brick toys.”According to Heo, anybody can design or manufacture a brick toy. But commercializing it is a whole different story. “There's an unbeatable brick giant called Lego. Who'd want to compete with the Danish firm?” Heo said. “The toy brick business also requires a lot of

Aug 15, 2019By Kwak Yeon-soo
'Brick toys boost creative thinking in children'
Companies

'Made in India' Kia Seltos

Kia Motors India Managing Director and CEO Shim Kook-hyun, left, poses with Korean Ambassador to India Shin Bong-kil, second from left, and other VIP guests at the “Kia Seltos 1st Car Roll-Out Ceremony” held at its plant in Anantapur in Andhra Pradesh, India, Aug. 8. The automaker said the plant will be able to produce 52,000 cars this year and it aims to produce 300,000 within three years to export Indian-made cars to Middle Eastern, Latin American and Asian markets. Courtesy of Kia Motors

Aug 9, 2019By Kwak Yeon-soo
'Made in India' Kia Seltos
Companies

Kolmar Korea chairman forces employees to watch anti-Moon YouTube video

By Kwak Yeon-sooKolmar Korea Chairman Yoon Dong-han / Korea Times fileKolmar Korea Chairman Yoon Dong-han has been in the hot seat for playing inappropriate content from YouTube for his employees at a monthly meeting, which included mockery against the government and women.While discussing how Korea should cope with Japan's export curbs, Chairman Yoon shared the video to about 700 attendees during the meeting held at the company's headquarters in Seoul on Aug. 7. In the video, the YouTuber expresses strong disapproval of President Moon Jae-in's foreign policies, saying “The fact that Japan's Prime Minister Shinzo Abe didn't punch President Moon in his face by now proves that Abe is a great leader.” After the incident, a user of Blind, an anonymous chat app for verified employees, posted a message that the edited content from YouTube shown at the meeting was upsetting, deeming it inappropriate because of the use of slurs, expressions of misogyny and political bias.“Chairman Yoon showed us the video, saying 'Let's think about this together,'” said the user who c

Aug 9, 2019By Kwak Yeon-soo
Kolmar Korea chairman forces employees to watch anti-Moon YouTube video
Companies

Lotte Group chief to visit Israel in search of new growth engine

By Kwak Yeon-sooLotte Group Chairman Shin Dong-bin / Korea Times fileLotte Group Chairman Shin Dong-bin will visit Israel on Aug. 11 to seek business opportunities in high-tech sectors and learn about the country's advanced startup ecosystem, the company said Friday.Shin will meet several Israeli political and business leaders, including Minister of Economy and Industry Eli Cohen. They will discuss plans to boost ties, according to Lotte. “Shin will explore Israeli innovation from all angles and search for ways to create new areas of synergy and cooperation between the company and startups,” a Lotte Group official said. The move is in line with the company's shift to more direct investments in supporting startups and developing new growth engines. In 2016, the company established Lotte Accelerator, an investment arm, to incubate startups and nurture young entrepreneurs.Shin is expected to discuss ways to cooperate in areas like artificial intelligence, big data and logistics to reinforce Lotte's competitiveness in the e-commerce retail industry. Lotte Accelerator and Lott

Aug 9, 2019By Kwak Yeon-soo
Lotte Group chief to visit Israel in search of new growth engine
Companies

KT&G expands global business division

KT&G CEO Baek Bok-in, center, holds a regular meeting with the presidents of business units to discuss plans for the latter half of 2019. Courtesy of KT&GBy Kwak Yeon-sooKT&G has recently undergone restructuring that added more sectors to its global business division, apparently in a move to bolster its foreign investments amid sluggish cigarette sales and the declining birthrate.The Korean cigarette company said it carried out a reorganization in July to reinforce its global business. It newly created four teams within the Global Division ― two overseas expansion teams and two overseas brand teams. The expansion teams will open up emerging market opportunities whereas the brand teams will plan and execute successful localization strategies, the company said. KT&G also vowed to strengthen its presence in the global market by extending its global network to 100 countries by 2020 and 200 countries by 2025.“The latest move comes in line with our CEO's pledge to better cope with market changes and declining population,” a KT&G official said. “It is t

Aug 8, 2019By Kwak Yeon-soo
KT&G expands global business division
previous page
152153154155156
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.