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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

QM3 jumpstarts Renault Samsung

Renault Samsung’s compact SUV new QM3 is displayed outside a cafe, marking the one year anniversary of the car. The vehicle’s iconic duel-tone roof and body as well as the fuel efficiency of the 18.5 kilometers per liter triggered the compact diesel SUV craze in Korea. / Courtesy of Renault Samsung MotorsBy Park Jin-haiRenault Samsung Motors is expected to continue its bullish business momentum through next year on the back of sales of its latest QM3 sport utility vehicle (SUV), said a top company executive. “This car is clearly a segment breaker and big success in Korea,” said Francois Provost, Renault Samsung Motors CEO, during a recent one year anniversary event for the popular QM3.“QM3 had an initial annual sales target of 8,000. But, this year we expect its sales will surpass 18,000, or 230 percent over the target,” said Park Dong-hoon, the company’s executive vice president.Since its launch last year, it has attracted huge initial demand in pre-orders. It sold all 1,000 QM3s allocated for the country that y

Dec 14, 2014By Park Jin-hai
QM3 jumpstarts Renault Samsung
Companies

Hanwha launches world's largest solar company

By Park Jin-haiNam Seong-woo, Hanwha SolarOne CEO, speaks at a press conference at the 63 Convention Center, in Seoul, Thursday./ Courtesy of Hanwha GroupHanwha Group aims to be the world’ leading solar energy company in terms of cell production, sales and profit by 2020 with the merger of its two foreign-based solar companies Hanwha SolarOne and Hanwah Q CELLS.“Through the merger, we will become the top company in terms of the volume of cell production,” Nam Seong-woo, CEO of China-based Hanwha SolarOne, who will lead of the merged company, told a press conference in Seoul on Thursday. “We will not spare our efforts to take another step and be the top solar energy firm in terms of sales, profitability and market share as well. By 2020, we believe that we could achieve our goal, taking 10 percent of the global market share.”Nam said the merged solar company aimed to post $3 billion in sales next year. But he did not specify estimated sales for the target year 2020.The company announced the merger on Monday. As part of a group-wide restructuring plan to f

Dec 11, 2014By Park Jin-hai
Hanwha launches world's largest solar company
Companies

2015 all-new Camry became sharper, smarter

Toyota Motor’s 2015 Smart Camry / Courtesy of ToyotaBy Park Jin-haiToyota Motor Korea has rolled out its long-time best-selling family sedan Camry with all new futuristic looks.The 2015 All-new Smart Camry’s design change is almost radical after the seventh Camry hit the local market in 2012.Its overall driving dynamics, noise insulation and safety have been handsomely upgraded as well and became more “Toyota-like.”The Camry adopted Avalon’s family look.Its longer bodyline has been devoted to its sharp and dynamic image, with more aggressively looking bumper and grill. Its LED front running lamps, LED auto-leveling lamps for the low and high beams complete the new look. The design for the new Camry, since it debuted in April New York Auto Show, has been appraised as the most “sweeping” inside and outside. Toyota says that everything is new except the roof. In comparison to its 2014 model, more than 2,000 parts out of some 6,000 have been replaced or redesigned for the new car.Its body added sturdiness with more extensive use of high

Dec 11, 2014By Park Jin-hai
Companies

Halla Visteon's stake sellout raises concerns for tech leak

By Park Jin-haiA local private equity fund’s (PEF) planned acquisition of a controlling stake in Halla Visteon Climate Control, a major auto parts maker, is drawing protests from the union amid concerns about a possible technology leak.Visteon, a U.S. auto parts maker which owns a 70 percent stake in Halla Visteon Climate Control, will hold a board meeting on Dec. 12 and finalize the deal to sell its stakes to Hahn & Company, a local PEF.  The U.S. automotive parts maker already signed a preliminary deal with the private equity firm to sell its entire stake in Halla Visteon for 3.5 trillion won ($3.6 billion).Industry insiders say that the U.S. firm will likely close the deal because the suggested price is way above the estimated market value of 2.5 trillion won.“Visteon is likely to hand over of its stake in Halla Visteon to the equity firm,” said Shin Chung-kwan, an analyst at KB Investment and Securities.PEFs usually resell their target companies one or two years after acquisition by nature, after raking in profits.The local auto industry is more interes

Dec 10, 2014By Park Jin-hai
Companies

Hanwha to merge two solar affiliates

By Park Jin-haiHanwha Group said it has decided to merge Hanwha SolarOne, its China based solar panel maker, and Hanwha Q CELLS, a photovoltaic cell maker in Germany.It is part of the group-wise restructuring that focuses more on its core businesses.Hanwha SolarOne is a Nasdaq-listed company.It said the merged entity will become the world’s largest solar cell maker.The merger will take place in the form of Hanwha SolarOne issuing American depositary shares and swapping them with shares of Hanwha Q CELLS.Hanwha SolarOne was established in 2010 when Kim Dong-kwan, first son of its Group Chaiman Kim Seung-youn, acquired China’s Solarfun Power Holdings.SolarOne posted 194 billion won in operating profit in 2010, but recorded 72.8 billion won loss last year.Hanwha acquired bankrupt German solar energy company Q-Cells in 2012 and focused more on solar energy business.Hanwha recently announced that it will buy Samsung’s defense unit Samsung Techwin and three other affiliates.

Dec 8, 2014By Park Jin-hai
Companies

Sport utility vehicle boom gaining speed

By Park Jin-haiThe annual sales of sport utility vehicles have passed 300,000 for the first time, according to the Korea Automobile Manufacturers Association (KAMA) Monday.Domestic sales of SUVs by five local carmakers stood at 300,475 in the first 11 months of the year, KAMA said.The figure exceeds the previous record of 297,594 registered in 2002.The local market share for the leisure-oriented vehicle shot up to take 27.8 percent of the overall automotive market, the largest portion ever."Consumers' preference for SUVs or minivans for outdoor activities instead of other family-friendly sedans has become more evident," an industry official said. “SUVs will continue to enjoy stronger demand.”SUV sales peaked 10 years ago, accounting for 30.6 percent of all cars sold in the country.However, they have since slowly lost market share with annual sales falling as low as 168,520 in 2008 when consumers turned to sedans that had better fuel economy and a wider selection of new models.They made a comeback in 2009, when Hyundai Motor launched its Tucson ix. Together with the l

Dec 8, 2014By Park Jin-hai
Companies

'Hyundai Motor has upward potential

James YoonBNP Paribas analystBy Park Jin-haiHyundai Motor shares are expected to perform strongly based on a positive earnings outlook and its moves to strengthen shareholder value, an industry analyst said.Its stock recently took a severe beating following its decision to spend $10 billion to purchase a land in southern Seoul for its new headquarters. A weaker yen also negatively affected the company, as it makes Japanese vehicles cheaper in overseas markets.However, analyst James Yoon at BNP Paribas in Seoul said Hyundai’s efforts to improve shareholder returns will help the company boost investor confidence.“Hyundai Motor has evolved from being a high-growth stock to a deep-value play with proven sustainability of a higher operating margin,” Yoon said.Hyundai and its affiliate Kia Motors recently announced that they will buy back shares worth a total of 670 billion won. Hyundai has been under pressure by its bigger shareholders to improve corporate governance after the land deal negatively affected the stock.“We think this would raise investor return t

Dec 8, 2014By Park Jin-hai
'Hyundai Motor has upward potential
Companies

Samsung C&T expands global presence in LNG storage field

Singapore’s first LNG terminal on Jurong Island, which Samsung C&T completed in March. The company has built three 180,000 cubic meter tanks and dispatch facilities at the terminal since 2010. / Courtesy of Samsung C&TBy Park Jin-haiSamsung C&T has emerged as a global player in the construction of liquefied natural gas (LNG) terminals.The construction and trading arm of Samsung Group in recent years has successively secured a series of major LNG terminal projects in Singapore and Malaysia"As Southeast Asia's energy demands rise, we see huge potential in the LNG storage facilities market," said a company spokesman.This year alone, the company has won four overseas LNG storage tank and terminal construction projects, including Singapore’s first liquefied natural gas terminal expansion project in August.In March, the company successively completed the first and second phases of the $1 billion project, whereby it has built three 180,000 cubic meter tanks and dispatch facilities at the terminal since 2010. “The most challenging part was building the insi

Dec 8, 2014By Park Jin-hai
Companies

Luxury with passionate sportness

Mercedes claims design icon with new CLS-classBy Park Jin-haiMercedes-Benz, which led the four-door coupe segment with the CLS class, has given the 2015 models model a sexier and sleeker look.The refreshed second-generation CLS has more elements befitting its name CLS ― a short for “chic, luxurious and sophisticated.”Its design has been retouched with a honed front section, while interior details and technological features have been upgraded.For the 2015 model, the German carmaker employs a futuristic multibeam LED headlamp for the first time.The high-performance, precision intelligent light system comprised of individually controlled 24 LED lights automatically provides the best possible illumination, whatever the road and traffic conditions.Yet it is not a volume sales model such as the E-class or S-class, the CLS shares the dynamism and elegance of a coupe with the comfort and functionality of a sedan.Local sales have been rising steadily for the car, whose chief designer Gorden Wagener allegedly once said would make observers “kneel.”A total

Dec 7, 2014By Park Jin-hai
Companies

Renault Samsung aims high with new QM3

Renault Samsung Motors SUV QM3By Park Jin-haiRenault Samsung Motors has unveiled an upgraded version of its popular compact SUV QM3, and is hopeful the model will boost sales.The new QM3 has beefed up its features and design options, but the price will rise only a little.Features include an optional removable natural leather seat and an added marine blue color for the bodywork. The electric folding outside mirrors, parking sensor and safety power window provided as options in the previous model have been maintained as basics.“It is our answer to customers’ calls over the past year following the launch of QM3 in Korea,” a company spokesman said. “The removable natural leather seat option is available only for Korean customers.”The vehicle’s decal design is simpler and sharper, while the interior features design elements from the European Captur model.“Customers can choose their seat color from orange, blue and black, matching with its body. It adds more personality to the car,” the spokesman said.   Apart from the outstanding f

Dec 3, 2014By Park Jin-hai
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