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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 to learn from Mercedes' wage system

By Park Jin-haiThe labor union and management of Hyundai Motor have agreed to learn from European carmakers’ wage systems as part of efforts to stem chronic disputes over salaries.A joint committee of six union leaders, five company officials and four outside advisers, is in Europe to study their rivals’ advanced wage systems.  “Unlike in the past, when the union would not talk with the management, the union has been proactive and is taking this seriously,” Korea Industrial Relations Association (KIRA) president Kim Dong-one, accompanying the entourage, told a newspaper.The committee was set up in November to deal with a broad range of wage issues, including the thorny issue of including regular bonuses in ordinary wages. “The change has come from the shared sense of crisis,” Kim said. “It is the first time that the Hyundai-Kia Motors’ combined market share at home has dropped below 70 percent since 1998, when Hyundai acquired Kia.”  Committee members will visit Mercedes-Benz, Audi and Volkswagen premises,

Jan 9, 2015By Park Jin-hai
Companies

Hyundai Motor aims for post-8 mil. sales era

This is the fourth in a series of articles highlighting New Year challenges facing corporate leaders of Korea Inc. ― ED.By Park Jin-haiChung Mong-kooHyundai Motor ChairmanWith Hyundai Motor Group’s record-high 81-trillion-won investment plan announced Tuesday, the company is gearing up to slowly make a turnaround this year. Foreign investors ceased an 18-day-long sell-off rampage Wednesday, buying 13.1 billion won worth of Hyundai shares, pushing up its price by 3.34 percent to close at 170,000 won.Analysts say that Hyundai’s investment has worked.“While the company’s fourth quarter performance is expected to be similar to last year, its investment plan to raise future competitiveness has worked as the main factor to draw in foreign investors,” said Choi Won-kyung, an analyst at Kiwoom Securities.Of the total 81 trillion won ($73 billion) allocated for the next four years, 49.1 trillion won will be invested in building new plants and 31.6 trillion won will be used for research and development.Under the plan, it will spend an annual average

Jan 8, 2015By Park Jin-hai
Hyundai Motor aims for post-8 mil. sales era
People & Events

Volkswagen's financial unit appoints new chief

Hans-Peter SeitzBy Park Jin-haiVolkswagen Financial Services Korea has appointed Hans-Peter Seitz, 53, as its new head.Seitz studied economics at Ludwig Maximilian University before joining MAN AG and MAN Financial Service, where he was in charge of financial services of over the past 20 years.He was previously the chief financial officer of MAN Financial Services in Germany and Austria.“I will strive for the success of the company, but at the same time will work to be a good partner to our customers, businesses and employees based on expertise and knowhow,” he said in a statement.The company said that the appointment reflected the importance of Korea to the Volkswagen Group.

Jan 7, 2015By Park Jin-hai
Volkswagen's financial unit appoints new chief
People & Events

Hyundai Motor Vice Chairman to attend CES

Chung Eui-sunBy Park Jin-haiHyundai Motor Vice Chairman Chung Eui-sun will participate in this year’s Consumer Electronics Show (CES) for the first time in four years.The CES, which opened in Las Vegas Tuesday (KST), is the largest U.S. consumer electronics fair. Hyundai Motor and its sister firm Kia Motors have participated since 2009.Hyundai is displaying its fuel cell battery for the Tucson ix, and telematics technology Blue Link — an integrated multimedia navigation system using a connected mobile phone. The Smart Watch Blue Link system, which expands the telematics technology to a watch, is also being unveiled.“We are setting vehicle IT technology standards at the fair,” said a Hyundai Motor spokesman.Chung will then fly to Detroit for the North American International Auto Show that opens on Jan. 12.The world’s fifth-largest automaker will display 18 cars, including the Sonata Plug-in Hybrid, which will be making its debut.Meanwhile, Hyundai’s Genesis has been short-listed as a candidate for the North American Car of the Year 2015.The original

Jan 6, 2015By Park Jin-hai
Hyundai Motor Vice Chairman to attend CES
Companies

Renault Samsung seeks to take back lost taxi market with SM5 Nova

Francois Provost, Renault Samsung Motors CEO, stands beside the mid-size SM5 Nova sedan during a launch event in southern Seoul, Monday. By launching the SM5 Nova, the carmaker has completed its "new design identity" lineups that were first introduced with the launching of the QM3 in 2013. / YonhapBy Park Jin-haiRenault Samsung Motors has been upping its efforts to take back the taxi market the carmaker once enjoyed popularity in, now dominated by Hyundai Motor, by launching the SM5 Nova taxi.“The SM5 Nova LPG model is one that will surely gain popularity among rental car businesses, taxi drivers and the disabled,” said Park Dong-hoon, sales chief and vice president of Renault Samsung Motors during a launch event in Seoul, Monday.Unlike the private passenger market where the SM5 has been selling as much as Hyundai Motor, it has been experiencing low-demand in the corporate car and taxi market, he said.The SM5 Nova taxi has a donut shaped LPG tank that has been placed under the trunk, securing trunk space 100 percent, while other LPG taxies have protruding tanks that take

Jan 5, 2015By Park Jin-hai
Companies

New compacts to heat up 2015

Audi A1By Park Jin-haiDomestic and foreign automakers will compete fiercely this year by launching a diverse range of new compacts on the market.Ssangyong Motor will open the New Year with its first-ever compact SUV Tivoli. Hyundai Motor and Kia Motors will roll out steady selling compacts such as the face-lifted Avante and K5, while GM Korea is gearing up to launch the new Chevrolet Spark.Ssangyong’s Tivoli, the company’s all new model in four years after the Korando C, will be launched on Jan. 13.Ssangyong Motor's TivoliIts stylish design and segmented-top splendid use of high strength steel plates have drawn public attention even prior to its official launch.Hyundai will launch compact the SUV Tucson during the first quarter of next year, followed by the compact Avante sedan. Kia’s new K5 sedan will be available in the second quarter and its Sportage SUV will be around the third quarter.The third-generation Tucson contains sets of new high-tech options, aimed at courting young customers. The Avante, Hyundai’s steady seller that sold more than 10 million glo

Jan 4, 2015By Park Jin-hai
New compacts to heat up 2015
Companies

Hyundai Motor to struggle in local market

By Park Jin-haiHyundai Motor and its sister firm Kia Motors will continue to struggle in the local market this year as BMW, Mercedes-Benz and other imported car brands battle for bigger shares of the market. In addition, GM Korea, Renault Samsung and Ssangyong Motor are poised to attract more customers away from Korea’s largest automotive group by introducing a series of new diesel-powered, fuel-efficient sedans and compact sports utility vehicles.After achieving global sales of 8 million vehicles last year, Hyundai Motor Group, has said that it plans to sell 8.2 million cars at home and abroad in 2015, up 4.3 percent from last year’s target of 7.86 million.Hyundai Motor’s sales target is 5.05 million, representing an increase of 3.1 percent, while the target set by Kia Motors target is 3.15 million, which would be a 6.4 percent growth if achieved.However, on the domestic market, Hyundai predicts that sales will reach 690,000 units this year, only a 1.2 percent rise from last year’s sales target of 682,000 units, while Kia’s sales target remains unchange

Jan 4, 2015By Park Jin-hai
Economy

KCCI head pleads for SK chairman's release

By Park Jin-haiPark Yong-maanKCCI chairmanPark Yong-maan, chairman of the Korea Chamber of Commerce and Industry (KCCI), called for the government to grant parole for imprisoned SK Group Chairman Chey Tae-won.Park said Chey has served most of his time and should be given a chance to reinvigorate his group, which is facing various challenges.“I’m not saying that we should give immunity to businessmen as they contribute to the national economy. What I’m saying is that the punishment should allow for a fresh start, and most of his time is now served, I plead that Chey, as head of a high-tech company, should be released to reinvigorate his company,” he said during a New Year interview held at the KCCI’s headquarter in Seoul, last week.Chey and his young brother Chey Jae-won have served more than a third of their prison sentences. The older Chey has been in jail for 23 months after he was sentenced to four years imprisonment for embezzling tens of billions of won of company money.Calling 2015 a critical time for the Korean economy, Park said the most impendin

Jan 1, 2015By Park Jin-hai
KCCI head pleads for SK chairman's release
Companies

Hyundai Motor to build skyscraper at KEPCO site

Korea Electric Power Corp.’s main office property in Samseong-dong, southern Seoul / YonhapBy Park Jin-haiHyundai Motor plans to build an over 100-story building at the site that is purchased from Korea Electric Power Corp. in southern Seoul.The company said Tuesday that Hyundai E&C, its construction affiliate, held a presentation to brief the construction project ahead of overseas architecture firms on Dec. 18.A total of 14 firms including Skidmore, Owings & Merrill LLP, a Chicago-based  architectural company that designed Tower Palace in Seoul, and Kohn Pedersen Fox, a U.S. firm that designed Lotte World Tower in Seoul.The world’s fifth largest automaker already had already expressed strong will to turn the KEPCO site into Seoul’s representative landmark.Upon the purchase of the 10.5 trillion won land in November, Hyundai Motor Group Chairman Chung Mong-koo calls it the “investment envisioning next one hundred years.”Hyundai’s new headquarters, namely “Global Business Center (GBC),” will incorporate its auto affiliates as

Dec 30, 2014By Park Jin-hai
Hyundai Motor to build skyscraper at KEPCO site
Companies

Tire makers' global output surges

By Park jin-haiThe nation’s top three tire makers are competing to expand their overseas production facilities.With Hankook Tire leading the way, Kumho Tire and Nexen Tire have also been expanding their overseas factories or establishing new ones.When the new factories are in operation, their gross annual production is expected to reach 140 million tires, surpassing the locally produced total of 110 million for the first time, officials said.Hankook Tire, which has been aiming to become a global automotive parts maker through the participation of the recent acquisition of Halla Visteon, has set “global production expansion” as its 2015 management goal.The company has four on-going projects in the United States, Hungary, Indonesia and China.The company plans to invest $800 million in building its Tennessee plant whose annual production will stand at 11 million. It broke ground for the U.S. plant in October and will be completed in the second half of 2018.The company’s three other projects will be completed by the latter half of next year as well.The 313 mi

Dec 29, 2014By Park Jin-hai
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