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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 Motor chief, son gain W1 trillion with stake sale

By Park Jin-haiHyundai Motor Group Chairman Chung Mong-koo and his son raised 1.1 trillion won ($1 billion) with the successful sale of their combined 13.99 percent stake in Hyundai Glovis, officials said Friday.Chairman Chung and Hyundai Motor Vice Chairman Chung Eui-sun sold a total of 5.02 million shares in the logistics unit through a block deal in after-hours trading Thursday, according to officials from the company and financial firms.Institutional investors bought the shares for 230,500 won apiece, a discount of 2.7 percent from Thursday’s closing price. It was about 50,000 won lower than the asking price at their botched sale last month.Hyundai Motor has said that the sale is aimed at meeting toughened government regulations on intra-group transactions.A revised Anti-Trust Law will take effect on Feb. 14, which bans business group owners and their family members from holding more than a 30 percent stake in affiliates that earn more than 20 billion won annually, or 12 percent of annual sales through intra-group dealings.Their combined stake in the logistics unit fell to

Feb 6, 2015By Park Jin-hai
Companies

Renault Samsung to expand production

Renault Samsung CEO Francois ProvostBusan plant  output increasing to 200,000 unitsBy Park Jin-haiRenault Samsung Motors, the local unit of French carmaker Renault S.A., received a request from the Renault Nissan Alliance to increase production of its Rogue sport utility vehicle (SUV) by 30,000 this year, to help keep up with rising demand for the model in the United States.Its Busan plant, which exports Rogues to the U.S., will jack up its annual output to 110,000 vehicles from April.  The Renault Nissan Alliance is a strategic partnership between Renault and Japan's Nissan Motor.The Busan plant’s annual production will increase to 200,000 vehicles, which includes 90,000 other models.The automaker and local community expect the increased production will help revive the local economy as well, as the Busan plant has been operating way below capacity over the last couple of years.The local plant that once produced more than 200,000 vehicles ― 275,267 in 2010 and 244,295 in 2011 ― saw its production cut by half in 2013 to 129,439.Following the production c

Feb 6, 2015By Park Jin-hai
Renault Samsung to expand production
Companies

BMW Korea to host Korea's biggest women's golf championship

By Park Jin-haiBMW Korea, marking its 20th anniversary, will host Korea’s biggest women’s golf competition here in July.The KLPGA BMW Ladies Championship will offer a total of 1.2 billion in prize money, which is a record high amount in women’s pro golf competitions in Korea.“We think golf is an important sport through which we can communicate with our customers,” BMW Korea CEO Kim Hyo-joon said during a press meeting, Thursday. “When we see the profile of our popular 7 series customers, 98 percent of them enjoy golf. We decided to hold the event, since we want to contribute to culture and sports, striking the right balance with the economic gains that we reaped in the past,”Also, the German carmaker will donate cars to universities and high schools for research purposes.Since 2001 until 2014, the company has provided a total of 67 vehicles, worth 6 billion won. It will donate 20 cars this year.“Our task is making a customer-oriented market and protecting the future. Not through mere donations, but through creating social values co

Feb 5, 2015By Park Jin-hai
Companies

BMW Korea expects double-digit growth

BMW Korea CEO Kim Hyo-joon speaks at a press meeting marking its 20th anniversary at the BMW Driving Center in Incheon, Thursday. / Courtesy of BMWBy Park Jin-haiBMW Korea, which posted over 40,000 in sales last year, expects another double-digit growth year in 2015.“BMW Korea had record sales last year, with Korea becoming the company’s 8th largest market worldwide. Korea still has more potential for growth and we expect to see another double digit growth year,” said BMW Korea CEO Kim Hyo-joon, during a press meeting marking the branch’s 20th anniversary in Incheon, Thursday.“Compared with France, BMW’s fifth largest market, the sales gap with us is less than 10,000. Japan has double the population size but similar annual sales,” Kim said.Although he didn’t mention the exact sales target for this year, if sales rise over 10 percent, it is forecast to reach 44,000.Kim said that the popularity of imported cars will last for the time being. “The customers get younger and sales have moved from corporate to individuals.

Feb 5, 2015By Park Jin-hai
Companies

Chrysler launches new 200

Models promote Chrysler’s new 200 mid-size sedan at an event in southern Seoul, Tuesday. The gasoline-powered sedan mated with a segment first nine-speed automatic transmission has 187 horsepower with maximum torque of 24.2 kilogram meters. The base model 200 is priced at 31.8 million won, while the top 200C is 37.8 million won. / YonhapBy Park Jin-haiFiat Chrysler Automobiles (FCA) launched its mid-size sedan new 200 on Tuesday.The coupe-like sedan, slightly larger than Hyundai Motor’s Sonata, adds a good choice in the segment where foreign carmakers fiercely fight for the market.Calling Korea “test bed” for the mid-size sedan, FCA Korea CEO Pablo Rosso said Korea is the first country outside North America to launch the Chrysler 200 sedan.“More Koreans are moving away from historical and uniform buying trends. We are very confident that the 200 will stand out in the midst of this competition,” he said during the launch event held in southern Seoul, Tuesday.Not to mention its aero dynamic look, the gasoline powered sedan has design and technologica

Feb 3, 2015By Park Jin-hai
Companies

Hyundai's i10 hatchback tops 2 million in unit sales

Hyundai Motor’s i10By Park Jin-haiSales of Hyundai Motor’s i10 hatchback passed 2 million in 2014, eight years after it was released, the automaker said Monday. Total sales were 2.01 million.The hatchback was initially introduced in the Indian market in 2007, before entering other markets.The model was a great success in India with 14, 956 sold in its first year. Nearly 1.89 million have been sold there in total.Hyundai's Turkey plant began manufacturing a new i10 for the European market in 2013.Since then the company has sold 119,631 i10 hatchbacks there.“The i10 is as a good family car as the Sonata is in Korea. Regionally developed cars like the i10 in emerging markets such as Brazil, Russia and India have played a major role in Hyundai reaching 8 million in global sales last year,” said an official.The first-generation i10 compact was developed in consideration of rough road conditions in local markets.It was also equipped with passenger seat airbags, along with anti-lock breaking systems and seat belt pretensioners.Hyundai and its sister firm Kia Motors h

Feb 2, 2015By Park Jin-hai
People & Events

Nuclear expert Han Pil-soon dies at 82

Han Pil-soonBy Park Jin-haiHan Pil-soon, former president of the Korea Atomic Energy Research Institute (KAERI), died of heart failure Sunday, according to his family. He was 82.His memorial altar has been set up at St. Mary’s Hospital in southern Seoul. His remains will be buried at Daejeon National Cemetery on Thursday.Born in Gangnam County, South Pyeongan Province (now North Korea), in 1933, Han majored in physics at Seoul National University and obtained a master’s degree at Illinois University. He also graduated from the Republic of Korea Air Force Academy.Han returned to Korea in 1959 after completing his Ph.D. degree at the University of California at Los Angeles, and participated as a founding member of the Agency for Defense Development in 1970.During this time, Han strived to produce parachutes, bulletproof helmets, grenades and Vulcan automatic cannons with domestic technologies.Han, the “father” of Korean atomic energy, became involved with atomic energy in 1982, when he was appointed vice president of the Korean Energy Research Institute, a prede

Jan 26, 2015By Park Jin-hai
Nuclear expert Han Pil-soon dies at 82
Companies

Pyeongtaek mayor roots for Ssangyong Motor's Tivoli

Pyeongtaek Mayor Kong Jae-kwang holds a placard that reads “Ssangyong Motor has launched the Tivoli. Pyeongtaek citizens offer support for its success,” at the Gwanghwamun Square in central Seoul, Monday. / YonhapBy Park Jin-haiPyeongtaek Mayor Kong Jae-kwang began a street campaign to promote Ssangyong Motor’s new compact SUV Tivoli Monday.In his effort to drum up support from the public, Mayor Kong, together with Pyeongtaek City Council Chairman Kim In-sik, held a two-hour promotion, holding a placard that read, “Ssangyong Motor launched Tivoli. Pyeongtaek citizens support its success,” at Gwanghwamun Square in central Seoul.“With the 153 workers dismissed in 2009 who couldn’t come back to the company, and the company still in red, the success of Tivoli is directly linked to the livelihood of workers at Ssangyong’s plant in Pyeongtaek,” said a spokesman for the mayor.“The Gwanghwamun promotion is intended for the general public, asking for their interest in the Tivoli. He will also start promotional activities targeting th

Jan 26, 2015By Park Jin-hai
Companies

Kolon Group chairman's eldest son returns to core unit

By Park Jin-haiLee Kyu-hoKolon Group Chairman Lee Woong-yeul’s eldest son has returned to work at the company’s core unit, Kolon Industries, from affiliate Kolon Global.Lee Kyu-ho, 31, who spent two years at Global, a trading and distribution arm of the nation’s 30th largest conglomerate, came back to Kolon Industries, the group’s industrial materials, chemical and fashion business.“Lee returned to Kolon Industries early this month after working at other affiliates to build up his career,” a company spokesman said.Lee is undergoing management training for the family owned group, insiders said.   The Cornell University graduate, who majored in hotel management, joined Kolon Industries in 2012.He was dispatched to the company’s Gumi plant in northern Gyeongsang Province to build up experience for a year, before he was transferred to Kolon Global.Kolon Group, established as a nylon importer in 1957, was divided into Kolon, a holding company, and Kolon Industries in 2009.

Jan 23, 2015By Park Jin-hai
Kolon Group chairman's eldest son returns to core unit
Companies

Kia expands dividend 44%

2014 operating profit down 19% to 2.57 trillion wonBy Park Jin-haiKia Motors said Friday its operating profit fell 19 percent year-on-year to 2.57 trillion won in 2014, as a stronger won against the dollar eroded its profits.  Net profit dropped 21.6 percent in 2014, hit by unfavorable foreign exchange rates and adverse business conditions in global markets. Its sales edged down 1.1 percent to 47.1 trillion won.It said it will pay 1,000 won in year-end dividend, up 44 percent from a year earlier.“During the fourth quarter, despite the global sales volume increase, the weak Russian currency and increased sales incentives we offered in the North American market, have led to a drop in our profitability,” said Han Chun-soo, executive vice president of the company’s finance and accounting division, during a conference call.“Since the ruble lost 35 percent in value and the Sorento model has aged in the U.S. market, it was inevitable to increase the sales incentive in the last quarter of 2014. It was a protective measure to defend our market share,” h

Jan 23, 2015By Park Jin-hai
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