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Park Jin-hai

Korea Times K-Culture Reporter

Park Jin-hai primarily focuses on K-dramas, entertainment shows and actor interviews. Beyond that, she also pens articles covering the broader arts scene, with a particular emphasis on classical music, dance and various aspects of lifestyle. Since joining The Korea Times in 2013, she has made significant contributions in the realms of hallyu (Korean wave), industry news and international affairs.

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Companies

Hyundai marks 100th anniversary of late founder Chung's birth

Former President Lee Myung-bak, left, shakes hands with Hyundai Motor Group Chairman Chung Mong-koo during a ceremony to commemorate the 100th anniversary of the late Hyundai Group founder Chung Ju-yung’s birth, at the Grand Hyatt Hotel in Seoul, Tuesday. / YonhapBy Park Jin-haiHyundai Motor Group and other affiliates held a ceremony to pay tribute to the conglomerate’s late founder, Chung Ju-yung, marking the 100th anniversary of his birth Tuesday.Over 500 Hyundai executives, business leaders, politicians and diplomats participated in the celebration to commemorate Chung’s leadership and “Can-do” spirit.Remembering the late founder during the celebration at the Grand Hyatt Hotel, former President Lee Myung-bak said, “Chung was the nation’s first startup founder. His creativity, can-do spirit, and lack of fear of failure are values that will carry us to even greater heights in today’s digitalized world.”“I believe his entrepreneurship provide great lessons for the business leaders of today, faced with fierce global competiti

Nov 24, 2015By Park Jin-hai
Hyundai marks 100th anniversary of late founder Chung's birth
Companies

Gov't to step in POSCO restructuring

By Park Jin-haiThe government is expected to intervene in the restructuring of steelmaker POSCO to prevent the company from following in the footsteps of the local shipbuilding industry.Government officials say as steel is also a backbone industry along with automobiles, shipbuilding and IT, pre-emptive and defensive measures are required for early normalization.POSCO said it will accelerate efforts to shut down money-losing businesses and keep exploring ways to achieve soundness. However, it seems evident that this cannot be done using existing tools.Strategy and Finance Minister Choi Kyung-hwan ordered POSCO to undergo the largest-ever restructuring and vowed the government will actively step in to make it happen.“Many shipbuilding and steel making companies faced with the global oversupply issues have reached their limits. Without immediate change, they could hamper other businesses,” Choi said in a recent meeting with the heads of local private think tanks. “We will have all political policies so that structuring process could be working.”The government ha

Nov 22, 2015By Park Jin-hai
Companies

Kumho supports Chopin competition winner Cho

Kumho Asiana Group Chairman Park Sam-koo, third from right, poses with Chopin competition winner Cho Seong-jin, center. Cho played with the NHK Symphony Orchestra in Tokyo, Friday. / Courtesy of Kumho Asiana GroupBy Park Jin-haiKumho Asiana Group Chairman Park Sam-koo lavished praise on Cho Seong-jin, the first Korean winner of the annual Kumho Prodigy Concert Chopin competition.“Cho’s achievement is a great phenomenon for the Korea arts circles,” Park said. “Kumho Asiana Cultural Foundation will provide full support to help find more like him.”Cho competed against 78 young pianists from 20 countries last month.Cho made his debut at the 2005 Kumho Prodigy Concert when he was 11. The young prodigy also performed at the company’s concerts in 2006 and 2009.In 2010, he joined Kumho Asiana Soloists, a chamber group made up of Korea's up-and-coming young musicians. Cho played Chopin’s Concerto in E minor, Op. 11 with the NHK Symphony Orchestra for 40 minutes, bringing an enthusiastic response from the audience at NHK Hall, in Tokyo, Frida

Nov 22, 2015By Park Jin-hai
Kumho supports Chopin competition winner Cho
Companies

Hyundai's autonomous vehicle hits city roads

Hyundai Motor’s autonomous Genesis sedan demonstrates how to avoid another vehicle during the Future Growth Engine Challenge Parade on a street in southern Seoul, Sunday. / YonhapBy Park Jin-hyeHyundai Motor’s self-driving Genesis traveled along busy city roads for the first time Sunday.The three-kilometer test-drive between northern Yeongdong Bridge and COEX in southern Seoul was a pre-event for the four-day Creative Korea 2015, which will start Thursday.The annual exhibition, organized by the Ministry of Science, ICT and Future Planning, aims to showcase the past achievements of government-led creative economy initiatives. During the special event, named “Future Growth Engine Challenge Parade,” Science, ICT and Future Planning Minister Choi Yang-hee experienced Hyundai’s advanced autonomous driving technology.The Genesis carried out 11 tests on streets, including driving under the speed limit, staying in the right lane, starting and stopping at traffic lights, automatic lane changing, reading hand signals and traffic jams, and making way

Nov 22, 2015By Park Jin-hai
Hyundai's autonomous vehicle hits city roads
Companies

Dongwha Enterprise hits record quarterly performance

An aerial view of the VRG Dongwha MDF, Dongwha Enterprise’s Vietnam plant, in BinhPhuoc Province, Vietnam.By Park Jin-haiKim Hong-jinDongwha Enterprise CEODongwha Enterprise has broken another profit record in its recently disclosed third-quarter financial report, buoyed by rising demand in the local housing market and its growing Vietnam business.Experts say that following the first quarter “earning surprise,” when the leading building materials maker posted over a 100 percent increase in operating profit year-on-year, it has been beating its own record and this pattern is expected to continue.“Its third-quarter sales broke the record,” said Kim Yeol-mae, a senior analyst at Hyundai Securities. “The sales of all products ranging from particle boards (PB) and medium-density fiberboards (MDF) to building materials have shown growth, while its bullish Vietnam business has been contributing to the company’s overall performance as well.”The company’s third quarter sales posted a record 175.8 billion won, up 24.3 percent year-on-year,

Nov 19, 2015By Park Jin-hai
Companies

Hyundai Motor to make fully autonomous car by 2030

By Park Jin-haiKwon Moon-sik, Hyundai Motor Group vice chairmanHyundai Motor’s top executive during a meet-the-customer event said it will produce fully-autonomous cars by 2030.Kwon Moon-sik, Hyundai Motor Group vice chairman, said that the company’s autonomous driving technology is advanced in comparison to that of Google’s during the Maum (Heart) Dream event Hyundai organized to enhance communication with its customers.“The Google driverless car employs a rotating rooftop camera, but Hyundai cars have a three-dimensional scanning system,” he said, stressing that Hyundai’s technological prowess before 200 guests arrived, mainly engineering university students, at The K Hotel, in southern Seoul, Monday.“We forecast Hyundai will realize highly autonomous driving by 2020 and fully-autonomous driving by 2030,” he added.Starting with the EQ900, a luxury sedan to be launched next month under the Genesis brand, Hyundai will produce a partially autonomous driving car with highway driving assist. The feature, as an early stage of autonomous dri

Nov 18, 2015By Park Jin-hai
Hyundai Motor to make fully autonomous car by 2030
Companies

Oil refining businesses to hit record year

By Park Jin-haiLocal oil refiners are forecast to post the best performance this year, buoyed by low crude prices and increased margins.According to industry data, the big four local refiners ― SK Innovation, GS Caltex, S-Oil, and Hyundai Oilbank ― are expected to report yet another good performance in the fourth quarter, following a 4.47 trillion won combined operating profit in the previous quarter, the highest in four years.Industry watchers are now weighing in on whether their 2015 performance could break the 2011 record.  It is a sharp turnaround from their 2014 performance, when they posted 1.4 trillion won in operating losses. In particular, losses in the refining sector were over 2.3 trillion won, according to data from the Korea Petroleum Association.Their operating profit has been on a downturn since reaching a high of 5.3 trillion won in 2011, slipping to 1.7 trillion won in 2012 and to 1.6 trillion won in 2013.  Lowered crude prices could be bad news for refiners in the short term because it could lead to increased end product prices. But in the long r

Nov 18, 2015By Park Jin-hai
Companies

Kolmar Korea bags W72 billion export deal in China

By Park Jin-haiLocal cosmetics maker Kolmar Korea said Tuesday it had clinched a 72 billion won worth supply agreement with China’s to door-to-door seller Quanjian Group.Under the strategic partnership, the Chinese firm will establish a Korean office within this year and exclusively receive cosmetics from Kolmar. Those made-in Korea products will be exported back to China.Kolmar as original design manufacturer will produce, manufacture and carry out research and development.Kolmar BNH, Kolmar’s health food unit, will export its products to China, while also establishing a plant in Jiangsu Province, jointly with the Quanjian Group. Products made there will be sold through the Chinese firm’s nationwide sales networks.“As early as the first quarter of next year, our cosmetics and health foods will hit the market,” said a company official.Jung Hwa-young, Kolmar BNH CEO, said, “By entering into the 40 trillion won Chinese health food market that posts an average 15 percent growth each year, we expect our sales will substantially grow.”The Quanjian

Nov 17, 2015By Park Jin-hai
Companies

Local builders vie for Vietnam project

By Park Jin-haiMajor local builders are in fierce competition to bag a construction project of over 100 billion won in Vietnam.Five builders ― Daewoo E&C, SK E&C, Hyundai Development Company, GS E&C and Daelim ― have participated in the bidding for the construction of the Hung Ha Bridge in Vietnam, which was closed on Nov. 5.It is a construction project for a 6.3 kilometer bridge connecting Hung Yen Province and Ha Nam Province.With the total construction cost of 104.6 billion won ($90 million), the selected bidder will complete the bridge in 36 months.As a Korea Exchange Bank’s overseas construction project, the winning local builder will be able to tap into the bank’s Economic Development Cooperation Fund. The Korean government is striving to help Korean companies win upcoming large-scale national projects in Vietnam by providing various types of assistance such as development finance, project loans and payment guarantees.The Hung Ha Bridge project is part of the Vietnam Transport Network Master Plan, upgrading its transportation infrastructur

Nov 16, 2015By Park Jin-hai
Companies

Merck Korea embroiled in labor dispute

By Park Jin-haiMerck Korea has been facing protests from its unionized workers as company management refuses to recognize the union.The labor union claims that what Merck Korea, the Korean unit of the multinational pharmaceutical giant based in Germany, has put on the negotiation table was “rubbish” and the company has constantly discouraged the participation in the union.The company’s union members have been holding a one-man protest in front of the company headquarters in southern Seoul since Oct.12, calling for the company headed by CEO Michael Grund to come to the table in earnest.The collective agreement submitted by the drug giant for this year failed to mention employees’ welfare.“I have never seen anything like Merck’s collective agreement,” said Jang Hwan, spokesperson for the Korea Democratic Pharmaceutical Union which includes 90 unionized workers from Merck’s, during a phone interview with the Korea Times, Friday. “Unlike others that have multi-page agreements with at least 60 clauses, Merck’s was only two pages

Nov 13, 2015By Park Jin-hai
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