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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

Volvo, J Commerce accused of false advertising

J Commerce’s rose-printed knivesBy Park Jin-haiVolvo V40 sedanVolvo Car Korea, the local unit of Swedish carmaker Volvo Car, is under fire after the Fair Trade Commission (FTC) ruled that the company misled buyers with false advertisements.The FTC said Sunday that the carmaker’s 2013 compact hatchback V40 was falsely advertised as being equipped with adaptive cruise control (ACC) and queue-assist features that automatically adjust the speed to keep the car a safe distance behind the vehicle ahead.But dealer H Motors did not tell buyers that the ACC feature in the promotional brochure was not available for the Belgian-made car.“Volvo Korea misled potential customers, saying the car had better safety features than its rivals,” an FTC official said in a written statement. The carmaker received a correction order for the advertisement, which appeared between March and September, 2013.The V40 D2 model was Volvo Car Korea’s best-selling model last year, with 457 sold. The Swedish carmaker sold 3,000 cars in 2014, up 51.8 percent from a year earlier. 

Jan 18, 2015By Park Jin-hai
Volvo, J Commerce accused of false advertising
Companies

Hyundai Motor to reignite succession drive

Chung Mong-kooHyundai chairmanChung Eui-sunHyundai vice chairmanBy Park Jin-haiHyundai Motor Group is expected to resume the botched sale of the owner family’s Hyundai Glovis stakes, with the group’s succession scheme centering on Hyundai Mobis, analysts said Thursday.“If the block deal had been made, Hyundai Motor Group could have saved 10 billion won in tax annually as it could have resolved the anti-trust issue related to intra-group dealings,” said Meritz Securities analyst Kim Seung-chul. “Therefore, the group will most likely resume the block deal.”The country's revised anti-trust law bans business group owners and their family members from holding more than 30 percent stakes in affiliates that earn more than 20 billion won annually or 12 percent of annual sales through intra-group dealings.In 2013, Hyundai Glovis earned nearly 3 trillion won from doing business with its affiliates, accounting for about 30 percent of its 10.2 trillion won annual sales.HI Investment & Securities analyst Ko Tae-bong agrees.“Previously, regarding corpo

Jan 15, 2015By Park Jin-hai
Hyundai Motor to reignite succession drive
Companies

Mahindra meets fired workers

Anand Mahindra, third from left, chairman of Mahindra Group, looks at the production line for the company’s newly launched compact SUV Tivoli, at its Pyeongtaek plant, Wednesday. / Courtesy of SsangyongBy Park Jin-haiAnand Mahindra, chairman of the Mahindra Group, spoke Wednesday with the union leader representing dismissed workers who have been calling for their reinstatement.The surprise meeting between union head Kim Deuk-joong and Mahindra was arranged as the chairman was in Korea to celebrate the launching of its compact SUV Tivoli.During the meeting Mahindra reiterated his stance that Ssangyong still has many more challenges ahead and that the reinstatement of dismissed workers can happen only if the Tivoli is successful and the company’s turnaround is complete.The visiting chairman also exchanged Twitter messages with two union members who have been staging a protest atop a 70-meter chimney for more than a month at the company's plant in Pyeongtaek.When one of the two protesting workers sent a Twitter message saying:  “Let’s talk” to Mahindra

Jan 14, 2015By Park Jin-hai
Companies

Ssangyong aims to go global with Tivoli

Models pose next to Ssangyong Motor’s compact SUV Tivoli during a launch event at Dongdaemun Design Plaza, in Seoul, Tuesday. / YonhapBy Park Jin-haiSsangyong Motor, the local unit of India’s Mahindra & Mahindra, launched its first compact SUV, the Tivoli, Tuesday.The gasoline-powered compact SUV with a sharper looking exterior has been highly expected by many as a vehicle that has the potential to raise the financially ailing automaker and put it back on the growth track.Anand Mahindra, the chairman of Mahindra Group who visited Korea, said the Tivoli marks a significant new milestone in the growing partnership between Mahindra and Ssangyong.“This new SUV epitomizes the spirit of Korea Can Do and reflects Ssangyong’s rich legacy of innovation in product development. We are confident that the Tivoli is poised to drive Ssangyong’s growth in the future,” he said during a launch ceremony at Dongdaemun Design Plaza in Seoul.Ssangyong Motor’s CEO Lee Yoo-il said, “The Tivoli is a strategic global model we have developed with great devoti

Jan 13, 2015By Park Jin-hai
Companies

DSME builds world's largest container vessel

Daewoo Shipbuilding & Marine Engineering CEO Ko Jae-ho, right, and other officials celebrate the christening of the world’s largest container vessel at the Okpo Shipyard in Geoje Island, Thursday. Other participants are Xiuzhi Fang, left, director of China’s Bank of Communications, MSC CEO DiegoAponte, and his son. / Courtesy of DSMEBy Park Jin-haiDaewoo Shipbuilding & Marine Engineering, the nation’s second-largest shipbuilder, christened the world’s largest container vessel Thursday.The vessel, MSC Oscar, has a capacity of 19,224 containers, and is the equivalent of four football stadiums in length.It is the first vessel of the three that China’s Bank of Communications has ordered to charter to Swiss container shipping line Mediterranean Shipping Company (MSC).   “The vessel is equipped with pure dry system that can purify and recycle waste oil produced. It is the most eco-friendly and high-fuel efficient vessel,” said a company official.    Vessels operating costs heavily rely on fuel prices, whic

Jan 9, 2015By Park Jin-hai
DSME builds world's largest container vessel
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
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