Latest news with #NolUniverse
Korea Herald
4 days ago
- Business
- Korea Herald
K-culture expansion architect: Chae Hwi-young, tech and media veteran, named culture minister
Chae Hwi-young, CEO of Nol Universe and a veteran of journalism, IT and cultural content, was nominated Friday as minister of culture, sports and tourism in the final appointment to complete President Lee Jae Myung's first Cabinet. At a presidential briefing, Kang Hoon-sik, presidential chief of staff, announced the nomination, describing Chae as a private-sector leader whose vision aligns closely with President Lee's goal of expanding the cultural industry. 'Chae brings a diverse background as a former online portal executive and travel platform entrepreneur. He is a private-sector leader whose expertise and innovative thinking align with the president's vision to expand the K-culture market into a 300-trillion-won industry,' Kang said. Born in Seoul in 1964, Chae earned a degree in English language and literature from Sogang University. He began his career as a journalist, working at Yonhap News Agency from 1991 to 1995 and at YTN from 1995 to 2000, covering both culture and politics. Chae entered the tech industry in the early 2000s, working at Yahoo Korea from 2000 to 2002 before joining NHN — now Naver — in December 2002. There, he served as head of planning, executive director of domestic business, and ultimately as CEO from 2007 to 2009. He later served as CEO of NHN Business Platform from 2009 to 2013 and as a management adviser at Naver in 2014. In 2016, Chae co-founded the travel tech startup Triple. He was also appointed CEO of Interpark following its acquisition by Yanolja and has since led the company. In January, he spearheaded a major rebranding initiative, changing the company's name to Nol Universe. Alongside his corporate career, Chae has actively participated in public-private partnerships supporting cultural initiatives. Nol Universe was an official partner for the Ministry of Culture's 'Youth Culture and Arts Pass' program launched last year, aimed at improving cultural accessibility for young people and revitalizing the performing arts sector.
Korea Herald
4 days ago
- Business
- Korea Herald
Lee Jae Myung finalizes Cabinet lineup with 2 minister picks
President Lee Jae Myung has named two ministers to complete his administration's Cabinet nominations, about a month after his inauguration. Chae Hwi-young, CEO of South Korea's online travel booking platform operator Nol Universe, was selected as the nominee for the Minister of Culture, Sports and Tourism, according to Lee's Chief of Staff Kang Hoon-sik on Friday. Three-term lawmaker Rep. Kim Yun-duk of the ruling Democratic Party of Korea was named to lead the Ministry of Land, Infrastructure and Transport. Chae, 61, is a journalist-turned-entrepreneur who also formerly led South Korea-based technology firm Naver from 2005 to 2009. Kang said Chae would be the right fit for the president's push for cultural content market expansion "based on his show of expertise and originality in the private sector." Nol Company was formed from the merger of Yanolja Platform and Interpark Triple in late December. Kim, 59, is currently a member of the National Assembly's Land, Infrastructure and Transport Committee. Kang said Kim is expected to "take a housing policy stance from the standpoint of ordinary people, not of experts or bureaucrats." Kang added that Kim would deliver on President Lee's promise of zero tolerance against speculative housing purchases to prevent the housing market from overheating. Before Friday, the two positions were the only ones left in the 20-member Cabinet awaiting presidential nominations. Confirmation hearings are scheduled next week, starting on Monday. Incumbent Agricultural Minister Song Mi-ryung, who was picked by Lee to continue working for his administration, will be an exception. Among Lee's 19 ministerial nominee picks are eight Democratic Party lawmakers, a former lawmaker of the conservative rival party and four entrepreneurs. So far, Prime Minister Kim Min-seok, who is also a four-term Democratic Party lawmaker, is the only member of the Cabinet who gained parliamentary approval. Asked about the incumbent lawmakers of the ruling party accounting for nearly half of the Cabinet, Kang said the administration lacked time for vetting processes because no transition period was granted to Lee. The president was inaugurated immediately after his election victory in June due to former President Yoon Suk Yeol's ouster in April. Chae is Lee's third presidential nomination with experience at South Korea's internet technology giant Naver, alongside Han Seong-sook, nominee for minister of startups and SMEs, and Ha Jung-woo, senior presidential secretary for AI future planning.
Korea Herald
30-05-2025
- Entertainment
- Korea Herald
Nol Universe partners with KOFICE to boost global reach of MyK Festa
South Korean travel and leisure platform Nol Universe said Friday that it signed a memorandum of understanding with the Korean Foundation for International Cultural Exchange to promote the global expansion of MyK FESTA, a major government-hosted hallyu festival, and attract more tourists to Korea. Park Chang-sik, president of KOFICE, which is an affiliate of the Ministry of Culture, Sports and Tourism, and Nol Universe CEO Bae Bo-chan attended the signing ceremony on Wednesday in Seongnam, Gyeonggi Province. Under the agreement, the two sides will collaborate on international marketing and audience expansion for MyK FESTA, which is scheduled to run from June 19 to 22 at venues around Seoul's Olympic Park. Hosted by the Ministry of Culture, Sports and Tourism and organized by KOFICE, the event is a large-scale hallyu festival featuring performances by K-pop artists such as ITZY, Lee Young-ji and aespa, as well as exhibitions, experience zones, an international conference and export consultation sessions. By leveraging Nol Universe's K-pop concert ticket platform Interpark Global and the company's capabilities in marketing based on customer relationship management, the partnership aims to position MyK FESTA as a must-visit destination for global K-pop fans. 'This partnership marks a step forward in strengthening the inbound tourism ecosystem centered on K-content,' said Bae. 'We aim to offer unique cultural experiences through strategic collaborations with key industry players.' 'This memorandum is a strategic move linking the global expansion of hallyu-related industries with efforts to draw more international visitors," Park said.
