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

Korea fails to secure long-term maintenance order for UAE nuclear plant

Trade, Industry and Energy Minister Sung Yun-mo speaks during a press briefing to announce that the consortium of Korea Hydro & Nuclear Power (KNHP) and KEPCO Plant Service & Engineering (KPS) signed a five-year long-term maintenance service deal with Nawa Energy Company in the UAE. YonhapBy Kwak Yeon-sooKorea has failed to secure a long-term maintenance agreement (LTMA) for the Barakah Nuclear Power Plant in the United Arab Emirates (UAE), the Ministry of Trade, Industry and Energy said Monday.The consortium of Korea Hydro & Nuclear Power (KNHP) and KEPCO Plant Service & Engineering (KPS) signed a five-year maintenance service deal with Nawah Energy Company, the operator of the Barakah plant. The consortium said the contract can be extended for another five years if both sides agree.But the deal falls far short of its initial goal to win a 3 trillion won ($2.5 billion) 15-year maintenance deal. KHNP did not disclose how much the contract is worth, but it is estimated to be less than 1 trillion won, according to industry analysts, who have blamed the Moon Jae-in admin

Jun 24, 2019By Kwak Yeon-soo
Korea fails to secure long-term maintenance order for UAE nuclear plant
Companies

No more strike

Renault Samsung CEO Dominique Signora, left, shakes hands with the company's union leader Park Joong-kyu, after signing an agreement over wages and other working conditions at Renault Samsung's plant in Busan, Monday. Yonhap

Jun 24, 2019By Kwak Yeon-soo
No more strike
Companies

Hyundai Motor to supply 2,000 Ioniq hybrids to Singapore

Hyundai Motor Group Executive Vice Chairman Chung Euisun, left, and ComfortDelGro CEO Yang Ban Seng, center, pose for a photo in front of ComfortDelGro headquarters in Singapore, June 19. / Courtesy of Hyundai MotorBy Kwak Yeon-sooHyundai Motor has signed a contract to provide 2,000 Ioniq hybrid cars to a Singaporean taxi operator, the company said Monday. The deal signed with ComfortDelGro, a Singaporean transportation company, is Hyundai's latest deal to supply its vehicles as taxis in Singapore. Established in 1970, ComfortDelGro controls about 60 percent of Singapore's 20,000 taxis. It also operates in other countries, including China, the U.K. and Vietnam. The contract states that the automaker will supply the first batch of 1,500 Ioniq hybrid passenger cars by the end of this year and an additional 500 by the first half of 2020. Last year, Hyundai sold 1,200 Ioniq hybrid cars as taxis to Singapore's cab giant.Hyundai's Executive Vice Chairman Chung Euisun met with ComfortDelGro executives in Singapore on June 19 to talk about ways of cooperation and the future direction of thei

Jun 24, 2019By Kwak Yeon-soo
Hyundai Motor to supply 2,000 Ioniq hybrids to Singapore
Companies

Global beauty brands target growing opportunity in Korea

The Shilla Duty Free shop at Incheon International Airport Terminal 1 / Korea Times fileBy Kwak Yeon-sooGlobal fragrance and cosmetics players are entering Korean duty free shops to target increasing opportunities and use Korea as a “test bed” for Asian expansion, industry officials said Sunday. Korea is among the world's top 10 beauty markets, with per capita beauty spending of $45, which is more than double the global average of $21, according to Mintel, a London-based global market research firm.The Korea Customs Service said K-beauty exports have grown at an average of 34.9 percent in the past five years and marked $6.17 billion in 2018.Earlier in June, Christian Louboutin Beauty opened its first beauty store in Korea at Shinsegae Duty Free Shop in Myeong-dong, a popular shopping district in Seoul. Gucci Beauty also opened a beauty store in Korea to offer its makeups and fragrances. 2019-06-23(코리아타임스)The Shilla Duty Free has collaborated with brands like L'Occitane, SK-II, La Prairie, La Mer and Tom Ford to stock more luxury beauty brands in Korea. As of now, it has i

Jun 23, 2019By Kwak Yeon-soo
Global beauty brands target growing opportunity in Korea
Companies

Kakao fined for unfair refund policy

By Kwak Yeon-sooKakaomakers logo. / Korea Times fileThe Fair Trade Commission (FTC) has fined Kakao 2.5 million won ($2,157) for violating the e-commerce transaction law, the nation's antitrust watchdog said Sunday.It also ordered Kakao to revise its unfair refund and exchange policies. The antitrust agency said it had looked into the terms and conditions of kakaomakers, Kakao's mobile shopping platform, and discovered unfair terms that restricted the cancellation of purchases and refunds. Between February 2016 and June 2018, Kakao posted a notice on its kakaomakers website, saying that because all products were custom made, ordered items were not eligible for return or exchange. However, the financial watchdog said consumers should be entitled to cancel an order unless items were produced individually for each order and there was unrecoverable damage to the seller once the order was canceled.The FTC said it had ordered the company to revise the terms to allow consumers to cancel purchases and get refunds if they want. “Under the E-commerce transaction law, customers are allowe

Jun 23, 2019By Kwak Yeon-soo
Kakao fined for unfair refund policy
Tech & Science

VisualCamp takes eye-tracking tech to next level

VisualCamp Founder and CEO Suk Yun-chan poses for a photo at his office after an interview with The Korea Times, June 11. / Courtesy of VisualCamp By Kwak Yeon-soo Eye-tracking technology has long been applied in cognitive research and medicine, given that studying eye movements can lead to understanding of some human behaviors. Likewise, gaze analysis has been regarded as important data for predicting a subject's area of interest and intentions.However, modern eye-tracking technology can go further, promising a new phase in human-device interaction. The demand for gaze analysis has grown for use in various fields such as driving, using smartphones, VR and AR head-mounted displays, retail and other online services. Established in 2014, VisualCamp is paving the way for supplying VR/AR/mobile eye-tracking software and is pursuing innovation by introducing the world's first “mobile” gaze technology. “The eye-tracking market has been dominated by foreign companies, but

Jun 19, 2019By Kwak Yeon-soo
VisualCamp takes eye-tracking tech to next level
Companies

'Sweet fever' sweeping Korea

Graphic by Bae So-youngBy Kwak Yeon-sooBeverage franchises and snack makers here are rushing to introduce “excessively” sweetened treats as more Koreans seek solace in their sweet tooth amid rising stress and economic pain, according to food industry officials, Wednesday.Just three years after Taiwanese Castella sponge cakes gained instant popularity in Korea, black sugar bubble tea has become another star product among the plethora of snacks and drinks.Black sugar is an unrefined version of highly processed sugar, which features an inky hue and caramel flavor. Since the arrival of the popular Taiwanese bubble tea shop Tiger Sugar in March, food and beverage companies have been rushing to release black sugar inspired products. A number of coffee shop franchises have rolled out brand new menus that contain black sugar. A Twosome Place, Ediya Coffee, Coffee Bean and Tea Leaf, and Caffe Pascucci all introduced black sugar drinks in the first half of 2019. “We've decided to launch black sugar latte as a seasonal item to catch upon customers' insatiable appetite for blac

Jun 19, 2019By Kwak Yeon-soo
'Sweet fever' sweeping Korea
Companies

Beachwear for this summer

Models display beachwear at an E-mart branch in Seoul, Wednesday. The discount chain operator said it will hold its “Daiz, Ready to Vacance” beachwear festival until July 3. Yonhap

Jun 19, 2019By Kwak Yeon-soo
Beachwear for this summer
Companies

Korea to invest W8.4 tril. in future mobility, bio, non-memory chips

President Moon Jae-in delivers a speech on “Manufacturing Renaissance Vision,” a plan to develop the nation's manufacturing industry at an event in Ansan, Gyeonggi Province, Wednesday. YonhapBy Kwak Yeon-sooThe government plans to invest 8.4 trillion won ($7.1 billion) to foster future mobility, biopharmaceuticals and non-memory chips by 2030, to help revitalize Korea's sagging manufacturing industries, the Ministry of Trade, Industry and Energy said Wednesday. The latest move aims to revive the manufacturing sector by fostering new growth engines and make it a frontrunner of the Fourth Industrial Revolution.Manufacturing has been a major sector of export-oriented Korea, but it has been struggling with slow demand and intense competition from China and Southeast Asian countries.“Amid uncertainties, we need to draw a new path in the manufacturing sector,” President Moon Jae-in said. “By restructuring the manufacturing sector and developing innovative engines, we can become the world's fourth-largest trader in the future.”Moon added that “smart

Jun 19, 2019By Kwak Yeon-soo
Korea to invest W8.4 tril. in future mobility, bio, non-memory chips
Tech & Science

16.3 million households to see lower electric bills in summer

Panelists speak during an open hearing on the government's proposed reforms to the progressive electricity pricing system in Gwanghwamun, Seoul, June 11. Korea Times fileBy Kwak Yeon-sooAbout 16.3 million households are likely to benefit from the government's relaxed progressive electricity billing system and save 10,000 won ($8.43) a month during summer, according to the Ministry of Trade, Industry and Energy, Tuesday.The new billing system, which will push up the ceiling on the first two pricing tiers, offers discounted rates for July and August only. This system is likely to incur 280 billion won in additional costs for KEPCO. Lower utility bills for households mean lower revenue for KEPCO, which has already been reeling from mounting losses over the past two years amid the Moon administration's anti-nuclear energy policy. Despite the snowballing losses, the government has not set aside any money to financially support KEPCO yet. The trade ministry said that the taskforce to overhaul the current electricity billing system has advised the government and KEPCO to raise the electrici

Jun 18, 2019By Kwak Yeon-soo
16.3 million households to see lower electric bills in summer
previous page
160161162163164
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.