The Korea Times

Hyundai Motor awards W880 million to Asian Game archery team

By Park Jin-haiChung Mong-kooHyundai Motor chairmanHyundai Motor Vice Chairman Chung Eui-sun met with national archery team members to award them a total of 880 million won prize in recognition of their achievements at the recent Incheon Asian Games.“Today we are honoring all members of the national archery team, who topped the podium in five archery events at the Incheon Asian Games, winning nine medals,” said Chung who heads the Korean Archery Association (KAA).“We should continue to add new chapters in the Korean archery history,” he added.  The national archery team won five gold medals, three silvers and one bronze in the games, a big contribution to Korea's second-place ranking out of 45 participating countries.In 1985, his father Chung Mong-koo was inaugurated as president of KAA. He established two professional archery teams sponsored by Mobis and Hyundai Steel, two affiliates of the country's biggest automaker.Under his leadership, Hyundai Motor has invested more than 38 billion won in support of the national archery team, including recruiting ta

Oct 17, 2014By Park Jin-hai

Hyundai Motor awards W880 million to Asian Game archery team

Companies

GM Korea chief envisions sustainable future

Sergio Rocha, left in the center, GM Korea’s CEO, poses with other employees during the session to share its business performance and visions in celebration of its 12th anniversary of its market entry to Korea, at its Changwon plant, Thursday./ Courtesy of GM KoreaBy Park Jin-haiGM Korea’s CEO Sergio Rocha called for employees to “work together” with management to put the company on a path to a sustainable growth, Thursday, a day before the automaker’s 12th anniversary of its market entry to Korea.“I want to express my profound appreciation for all employees’ significant contribution to GM Korea’s success over the past 12 years,” said Rocha. “Now is the time for us to take GM Korea to the next level. I can assure that if we all work together as one team, we will prove ourselves to be competitive and drive our way to a sustainable future.”He has toured its local plants in Bupyeong, Gunsan, Boryeong and Changwon from Oct. 7 to 16 and held ten sessions to share business performances and visions with its all employees, dru

Oct 16, 2014By Park Jin-hai

Companies

Hyundai's R&D show displays inside of vehicles

Visitors look at the engine room and car parts during the R&D Motor Show held at the Hyundai Motor’s Namyang Technology Research Center in Gyeonggi Province, Wednesday. / Courtesy of Hyundai MotorBy Park Jin-haiHyundai Motor has disassembled its brand-new automobiles, as well as those of its foreign rivals, for its subcontractors at its own mini-motor show.The eleventh R&D Motor Show is taking place at the automaker’s Namyang Technology Research Center in Gyeonggi Province from Oct. 15 to 18.The annual event, held under the theme of harmonious growth for the company and its affiliates, is expected to draw more than 10,000 visitors, including students and representatives of the company’s 36 subcontractors. It offers a chance to see the technological advances that Hyundai and its affiliates have made over the past year, and to showcase the company’s products alongside those of global automakers such as Mercedes-Benz, BMW, Volkswagen and Nissan.A total of 96 cars ― 42 Hyundai-Kia cars and 54 competitors’ cars ― are on display. They include

Oct 15, 2014By Park Jin-hai

Hyundai's R&D show displays inside of vehicles

Companies

KAMA chief to head global carmakers' body

By Park Jin-haiKim Yong-geunThe International Organization of Motor Vehicle Manufacturers (OICA) will hold a general assembly in Korea and appoint the head of the Korea Automobile Manufacturers Association (KAMA) as its chief.The three-day gathering will take place at the Lotte Hotel in Seoul from Oct. 22, KAMA said.Some 50 auto industry heavy weights from 22 countries including Patrick Blain, OICA chief and chairman of the French Automobile Manufacturers’ Association (CCFA); and Matthias Wissmann, president of the German Association of the Automotive Industry (VDA), will attend the meeting.  During the general assembly, members will elect Kim Yong-geun, president of KAMA, as the new head of the OICA to succeed outgoing chairman Blain.Kim will be the first Korean to take the top job.“The general assembly taking place in Seoul proves Korean auto industry’s standing in the global arena,” said an official of the OICA secretariat in a statement.“It will be an important forum where the global auto industry’s pending issues and prospects as well as

Oct 15, 2014By Park Jin-hai

KAMA chief to head global carmakers' body

Companies

Laid-off Ssangyong workers left in legal limbo

By Park Jin-haiThe latest ruling on 153 workers laid off by Ssangyong Motor in 2009 has left them in a legal limbo of sorts.Suwon District Court ruled Monday against a request by the workers that they be reinstated to their jobs until the Supreme Court makes a final ruling.This followed a decision by the Seoul High Court in February that the layoffs were not valid.“After five years of waiting... I have fallen into too deep a state of frustration to even muster my anger,” said Lee Chang-keun, a former Ssangyong employee.   The court based its decision on the lack of evidence to substantiate the workers’ claim.The workers applied for an injunction in May when the appeals court made a decision, and demanded that the firm pay them a monthly payment of 3 million until a Supreme Court ruling was made.    “They say there is a lack of evidence. What better evidence could we have than the appeals court ruling? The court has closed its eyes to the facts and given a politically motivated ruling,” said Lee.Kim Tae-wook, the lawyer representi

Oct 14, 2014By Park Jin-hai

Companies

BAT Korea-labor to be strike-free for three years

BAT Korea’s CEO Guy Meldrum, left, and Goo Seong-il, the company’s Sacheon factory union leader, pose after the two signed a declaration of labor-management cooperation at the company’s head office in Yeoksam, southern Seoul, Monday. They agreed to establish industrial peace, ensuring a strike-free three years ahead./ Courtesy of BAT KoreaBy Park Jin-haiThe union of British American Tobacco Korea’s (BAT Korea) factory in Sacheon, South Gyeongsang Province, agreed Monday with management to refrain from engaging in industrial action for the next three years.Goo Seong-il, the union leader, said they had agreed to the declaration after reaching a mutual understanding with management on the need for the factory to pursue sustainable growth.   “The tobacco industry has recently faced several difficulties, which have resulted in a drop in the volume of cigarettes produced,” Goo said. “We are also experiencing intensified competition among BAT Group production facilities. At this critical juncture, labor and management agreed to cooperate f

Oct 13, 2014By Park Jin-hai

Companies

Hyundai losing market share in home turf

By Park Jin-haiHyundai-Kia Motors’ market share in Korea has hit the lowest in September for the year.The country’s No. 1 carmaker and its smaller affiliate accounted for 67.3 percent of the local market last month. It is the lowest since December last year when they recorded 66.7 percent, according to the Korea Automobile Manufacturers Association (KAMA).Hyundai has suffered steady falls in sales.After the March launch for LF Sonata, Hyundai’s market share peaked at 44.6 percent in April. But, its share has dropped for the past five months since: 43.5 percent in May, 42.8 percent in June, 40.8 percent in July, 39.1 percent and 37.6 percent in August and September.     Except for two models ― Sonata and Genesis sedans ― sales of the rest of Hyundai vehicles were down compared to a year earlier.Sonata’s accumulated sales in the first nine months grew 17.7 percent at 80,414 units, while the sales for Genesis nearly doubled at 27,596 from previous year.   Its compact Avante’s sales were down 6.4 percent at 65,075. Sal

Oct 12, 2014By Park Jin-hai

Companies

Mercedes-Benz beats BMW in monthly sales

By Park Jin-haiMercedes-Benz outsold its close rival, BMW, here last month.The German luxury carmaker sold 3,538 cars, up 45.5 percent from a year earlier.“This was the firm’s biggest monthly sales ever since it entered the local market,” said Yoon Dae-sung, the association's executive manager of the Korea Automobile Importers and Distributors Association.The new car effect following the series of new C- Class and GLA- Class launches, backed by E- Class’ steady sales, are believed to have pulled up its monthly sales.Mercedes’ recent sales success was also attributed to its CEO Britta Seeger’s field management. Since she took the helm of the company, she has frequented service centers across the country, to listen to the opinions of employees working in the field.BMW, which has been the solid top-seller for over three years, came second.It sold 3,303 last month, more than a 10 percent gain from the previous year, but slightly trailing behind the lead set by Mercedes-Benz.BMW said that this is temporary. “In September, BMW sold 3,303, but we ar

Oct 8, 2014By Park Jin-hai

Opinion

Gov't turns blind eye to UN finding

By Park Jin-haiEnding a week-long investigation, visiting U.N. special rapporteur Mutuma Ruteere said, "There are serious problems regarding the fishing industry that still need to be addressed.”But the government reacted as if it were nothing unusual.The U.N. delegation investigated reported cases of abuse facing foreign fishermen employed by Korean fishing firms. The move followed lawsuits filed by some 200 Indonesian sailors in New Zealand against two Korean companies _ Dong Won Fisheries and Dong Nam.They are demanding about $14 million in back pay.The Ministry of Oceans and Fisheries Ministry said the suit was an extension of a 2011 case and blamed New Zealand “brokers” for luring the Indonesians into taking action.That much publicized case was about some 30 Indonesian seamen fleeing the Korean flagged Sajo Oyang 75 vessel off New Zealand claiming sexual harassment, physical and verbal abuse.“No politicians are paying attention because it isn’t directly linked to more votes in elections,” said an activist working in Busan.  “They be

Oct 7, 2014By Park Jin-hai

Companies

Hanwha chief's third son joins construction unit

By Park Jin-haiKim Dong-seonKim Dong-seon, 24, the third son of Hanwha Group Chairman Kim Seung-youn, has joined Hanwha Engineering & Construction as a manager, the company said Monday.Unlike his two elder brothers, Kim Dong-seon has not been involved with group management. A graduate of Dartmouth College in the U.S. and an Asian Games gold-medalist in team dressage, he recently retired from equestrian competition and joined his father's company.Dong-seon will undergo management training at the company’s construction fields in Bismayah in Iraq, Saudi Arabia and Dubai, where Hanwha Group is undertaking major construction projects.The company said that through this process, Dong-seon will learn firsthand about overseas construction projects, as well as working-level business skills.Chairman Kim Seung-youn’s eldest son, Dong-kwan, is a chief strategy officer at Hanwha SolarOne. His second son, Dong-won, joined Hanwha L&C earlier this year.

Oct 7, 2014By Park Jin-hai

Park Jin-hai

Read more

Hyundai Motor awards W880 million to Asian Game archery team

GM Korea chief envisions sustainable future

Hyundai's R&D show displays inside of vehicles

KAMA chief to head global carmakers' body

Laid-off Ssangyong workers left in legal limbo

BAT Korea-labor to be strike-free for three years

Hyundai losing market share in home turf

Mercedes-Benz beats BMW in monthly sales

Gov't turns blind eye to UN finding

Hanwha chief's third son joins construction unit

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