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Kwak Yeon-soo

Korea Times Digital Content Reporter

Kwak Yeon-soo is a digital editor at The Korea Times creating, editing and curating digital content for the newspaper’s website, mobile app and social media. She previously covered a diverse array of cultural, political and business topics.

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Companies

Diageo Korea to close plant after 39 years

By Kwak Yeon-sooDiageo Korea CEO Lee Kyung-wooDiageo Korea has decided to close its last remaining plant in Icheon, Gyeonggi Province, due to falling whisky sales, the Korean unit of the British premium whisky maker said Wednesday. The facility, which covers about 64,000 square meters, will be shut down in June 2020.Established in 1981, it has been bottling Smirnoff vodka for export and Windsor Scotch whisky specifically tailored for the Korean market. In 2009, the London-based distiller sold the plant with a 20-year sale-leaseback.However, the company decided to close down the plant before the expiration date due to a poor utilization rate and weak sales.“The decision has been difficult and it has come after careful consideration,” a Diageo Korea official said. “The unfavorable business climate in exporting countries, low utilization rate and loss of competitiveness were the main reasons for the shutdown decision.”About 29 full-time employees and 90 subcontractors are expected be affected by the latest decision.When asked if the company has any plans to downs

Aug 28, 2019By Kwak Yeon-soo
Diageo Korea to close plant after 39 years
Companies

POSCO chairman visits steel mill in Pohang

POSCO Chairman Choi Jeong-woo, second from right, inspects a steel mill that makes Finex coal briquettes as a byproduct in Pohang, North Gyeongsang Province, Tuesday. Choi visited the site to encourage and express his gratitude to the employees for their hard work and participation in volunteer activities for an accumulated 5,000 hours. / Courtesy of POSCO

Aug 28, 2019By Kwak Yeon-soo
POSCO chairman visits steel mill in Pohang
Companies

Hyundai Mobis to build $247mil. EV parts plant in Ulsan

By Kwak Yeon-sooPresident Moon Jae-in delivers a speech during a groundbreaking ceremony for a new Hyundai Mobis plant in Ulsan, Wednesday. /YonhapHyundai Mobis will build its second electric vehicle (EV) parts plant in Ulsan, located in southeastern Korea near Busan, as part of efforts to hone its competitiveness in eco-friendly vehicles, the company said Wednesday.It already runs an eco-friendly car parts plant in Chungju, North Chungcheong Province, that can produce parts for 400,000 eco-friendly vehicles a year, such as hydrogen fuel-cell electric, all-electric and other lower-emissions cars.The second EV parts plant, which covers 150,000 square meters, will be completed by early 2021 and begin mass production in the first half of that year, according to Hyundai Mobis.The company said it will invest 300 billion won ($247 million) in the new plant to make all-electric car components that can be assembled into 100,000 cars a year. “We will continue to invest in next-generation, high-tech vehicle technologies and related production facilities to respond to rising demand for au

Aug 28, 2019By Kwak Yeon-soo
Hyundai Mobis to build $247mil. EV parts plant in Ulsan
Companies

Hankook Tire & Technology leads OE market

In this photo provided by Hankook Tire & Technology, the company's tires are equipped in Audi's Q7 SUV. Courtesy of Hankook Tire & Technology By Kwak Yeon-sooFollowing a comprehensive rebranding in May, Hankook Tire & Technology ― formerly Hankook Tire Group ― plans to lead the premium original equipment (OE) market with its advanced research and development, the company said Tuesday.The company said that the name change was intended to reflect its long-term vision to secure innovative technologies amid the Fourth Industrial Revolution. The move is part of its efforts to discover future growth engines and attain sustainable growth.Along with the rebranding strategy, Hankook Tire & Technology has been developing innovative technologies at Hankook Technodome, its R&D facility in Daejeon. Established in 1982, the center oversees four satellite research centers in the U.S., Germany, China and Japan.The nation's leading tire manufacturer's innovation in R&D has led to st

Aug 27, 2019By Kwak Yeon-soo
Hankook Tire & Technology leads OE market
Companies

Volvo Korea unveils 'dynamic Swedish' new S60

Volvo Cars Korea CEO Lee Yun-mo speaks during a press conference unveiling The New S60 at the Shilla Hotel in Seoul, Tuesday. / Courtesy of Volvo Cars KoreaBy Kwak Yeon-sooVolvo Cars Korea has launched the new S60 sedan as it strives to introduce the “joy of driving” to the new generation, the company said Tuesday. The new S60 is expected to sell at a starting price of 48 million won ($39,550) for a "momentum" model and 54 million won for an "inscription" model. The prices will vary depending on options such as system sensors and interior parts, according to Volvo Korea. Volvo Korea said the new S60 is cheaper than in the U.S., where the full-change model sells at $54,000.“The company has decided to offer the new S60 at competitive prices in order to claim a dominant share of the premium sedan market and attract more customers,” Volvo Cars Korea CEO Lee Yun-mo said during the press conference. Despite the downsized market for imported commercial vehicles, Volvo Korea has defied the downward trend aided by its safety features and Scandinavian design. “We

Aug 27, 2019By Kwak Yeon-soo
Volvo Korea unveils 'dynamic Swedish' new S60
Companies

Hyundai Motor opens hydrogen showroom in China

Hyundai Motor Group President of China Business Lee Byung-ho, left, speaks at an opening ceremony of the “Hyundai Hydrogen World” exhibition hall in Shanghai, China, Monday. Courtesy of Hyundai MotorBy Kwak Yeon-sooHyundai Motor has opened a hydrogen showroom in China to promote its hydrogen fuel cell electric vehicle (FCEV) technologies to Chinese customers, the company said Monday. Korea's largest automaker opened the “Hyundai Hydrogen World” exhibition hall in Shanghai and plans to run it for two weeks through Sept. 8. Hyundai Motor Group President of China Business Lee Byung-ho joined many other guests including U.N. Development Program Resident Representative in China Tina Maria Sateraas for the opening ceremony.“Our goal is to provide an environment where Chinese customers can experience FCEV technologies,” a Hyundai Motor official said. “The showroom is also designed to go in line the Chinese government's alternative energy development initiative.”Visitors can study Hyundai's FCEVs and experience its future mobility technologies,

Aug 26, 2019By Kwak Yeon-soo
Hyundai Motor opens hydrogen showroom in China
Companies

Renault Samsung, SsangYong, GM Korea face 'painful' restructuring

By Kwak Yeon-sooRenault Samsung Motors, SsangYong Motor and GM Korea are about to undergo drastic restructuring to cope with falling car demand, rising production costs and other unfavorable business conditions, according to industry officials, Monday.According to Renault Samsung, it told the union recently that it will be difficult to maintain the current workforce as the production of the Nissan Rogue and other models is expected to fall sharply next year.The number of Nissan Rogues ordered was slashed to 60,000 from last year's 100,000 due to production losses caused by the union's strikes. The car model accounted for half of the plant's total output last year.“Although we realize it's necessary to downsize the workforce, the exact size or method hasn't been decided yet,” a Renault Samsung Motor official said, citing that it would either offer a voluntary retirement program or circular leaves of absence.“The management will make several suggestions when it begins wage negotiations with the union next month.”However, the company asserted that the units per h

Aug 26, 2019By Kwak Yeon-soo
Renault Samsung, SsangYong, GM Korea face 'painful' restructuring
Trends

'Body botox, body sculpture injection create perfect summer look'

By Kwak Yeon-sooSon Moo-hyun, the cosmetic surgeon at Cheongdam FnB Clinic / Courtesy of Cheongdam FnB ClinicBy the time summer rolls around, many try to lose weight as they prepare to wear more revealing clothes.Among them, some even consider undergoing minimal invasive procedures to boost their body confidence.Cosmetic surgeon Son Moo-hyun says that if weight loss is accompanied by minimal invasive procedures, one can expect a better body shape. According to him, body botox helps people avoid over-developed muscles and create smooth body lines.“If a patient has too much fat, liposuction, or a surgery that removes fat from the body, can be the right solution,” Son said. “On the other hand, if a patient's muscles are too prominent, I recommend injecting body botox to get rid of the bulky muscles.”Son added that a growing number of patients inject botulinum toxin in their body parts, like shoulders, calves and armpits, to reduce the muscle mass. “Body botox can specifically target certain body parts. For instance, it can be used in deltoid and tricep musc

Aug 26, 2019By Kwak Yeon-soo
'Body botox, body sculpture injection create perfect summer look'
Companies

Hyundai, Daelim, Daewoo rapped for poor safety management

By Kwak Yeon-sooHyundai Engineering & Construction headquarters in Seoul / Courtesy of Hyundai E&CHyundai Engineering & Construction (E&C) had the highest number of workplace deaths among local builders in July, the Ministry of Land, Infrastructure and Transport said Monday. An accident at a rain drainage reservoir construction site in Yangcheon-gu, southwestern Seoul, managed by Hyundai E&C, led to the death of three workers that month. According to government data, Hyundai E&C construction saw three deaths, followed by Daelim, Daewoo Engineering & Construction, Hyundai Development Company, Jungheung Construction and Shindonga Construction each having one. The six companies were selected from the top 100 builders in Korea. The land ministry said it will conduct intensive safety inspections at construction sites with the Office for Government Policy Coordination and the Ministry of Employment and Labor. In particular, the ministry has been conducting impromptu inspections at GS Engineering & Construction and Jungheung Construction worksites, since Aug.

Aug 26, 2019By Kwak Yeon-soo
Hyundai, Daelim, Daewoo rapped for poor safety management
Companies

Toward 'deep change'

SK Group Chairman Chey Tae-won speaks at a forum in Icheon, Gyeonggi Province, Thursday. During the four-day in-house event, Chey urged SK employees to hasten the company's digital transformation by raising competitiveness in innovative technologies such as artificial intelligence. / Yonhap

Aug 23, 2019By Kwak Yeon-soo
Toward 'deep change'
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