Articles by Park Ju-young
Park Ju-young
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Korean firms win 50 bln won transformer order in Britain
An affiliate of shipbuilder Hyundai Heavy Industries Co. and trading company POSCO DAEWOO secured a 50 billion won ($44 million) transformer order from Britain's National Grid plc, the companies said Wednesday. Hyundai Electric & Energy System and POSCO DAEWOO said they signed the deal to supply 23 high-pressure transformers to electric power stations in Britain for three years ending 2020. (Yonhap)The two Korean firms have already provided 130 billion won worth of transformers to National
Industry May 3, 2017
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US production of Kia Sorento SUV tops 1 mln mark
Kia Motors Corp., Korea's second-biggest carmaker by sales, said Wednesday that its US production of the Sorento midsize SUV surpassed the 1 million mark. Kia reached the milestone with a pearl-colored Sorento SUV built at its Georgia plant on May 2 (US time). The Sorento SUV went into production in the US on Nov. 16, 2009, following the construction of the plant that took three years, according to the company. (Yonhap)The carmaker invested 1.24 trillion won ($1.1 billion) in the Georgia plant.
Mobility May 3, 2017
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Stock prices to hit record levels under new president: market watchers
Korea's incoming president is expected to help push up the country's stock prices to record high levels, local market watchers, citing past trends, said Wednesday.Analysts said the prediction is based on the recent rise in share prices fueled by generally good earnings reports by big name companies in the first quarter and forecasts that the global economy is on the mend. They also said that the country's stock market has almost always moved up during the first two years of a new president's ter
Economy May 3, 2017
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Korean retailers bet on outlets for new growth
Korean retailers are betting on suburban outlets to secure a new profit driver as they find little room for growth in the downtown department store business, industry sources said Wednesday. Lotte Group, Hyundai Department Store, Shinsegae Co. and other retail conglomerates said they plan to open additional outlets or expand their existing shopping malls on the outskirts of Seoul. More than nine outlets are scheduled to open in the next two years to meet growing demand from customers who can t
Industry May 3, 2017
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Foreign investors' holdings of Korean stocks hit new high
Offshore investors' holdings of Korean stocks hit an all-time high last week, as the nation's benchmark index has gained on better-than-expected corporate earnings, according to the Korea Exchange on Wednesday. Foreign investors' holdings of Korean stocks stood at 522.8 trillion won ($463.1 billion) as of last Friday, compared with 408.3 trillion won on May 2, 2011, when the index closed at an all-time high of 2,228.96.Foreign holdings accounted for 36.5 percent of the KOSPI's market capitalizat
Economy May 3, 2017
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Global digital cartoon market to expand to $1.17 bln in 2020
The global market for digital animation is expected to grow at an average of 10.8 percent annually to US$1.17 billion in 2020, an industry report said Wednesday.According to the annual report by the National IT Industry Promotion Agency (NIPA), the global digital cartoon market came to $814 million in 2016, up 15.7 percent from a year earlier.(Yonhap)The findings showed digital cartoons accounted for only 4.1 percent of the entire animation industry in 2011 but the ratio expanded to 10 percent i
Industry May 3, 2017
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Samsung's presence on main bourse to fall on cancellation of treasury shares
Samsung Electronics Co.'s presence on the main bourse is anticipated to edge down after the company completes its plan to cancel its treasury shares, market watchers said Wednesday.NH Investment & Securities Co. said Samsung Electronics' presence on the KOSPI200, the basket of 200 blue chip firms' shares listed on the main bourse, will drop by 1.3 percentage points if the company completes the write down."If there is no change in the price, the combined market capitalization will fall i
Market May 3, 2017
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[Weekender] Get space for the price of a coffee
Park Ji-min, 23, carries out most of her daily tasks at cafes. The senior college student works on her assignments, reads books and watches movies on her laptop at the cafes, which are located right in front of her house. (Park Ju-young/ The Korea Herald)“Even though I’m far from a coffee enthusiast, I drink at least three cups of coffee every day so I can stay in a cafe,” Park said in an interview with The Korea Herald. Park is one of many Korean students who frequent cafes not only to quench
Culture April 28, 2017
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Sewol ferry victim’s bag returned to his mother
A bag owned by a victim of the Sewol ferry tragedy was retrieved and returned to his mother last Friday. The owner of the bag was identified as Danwon High School student Baek Seung-hyun. The belongings inside it included a student card, 18 contact lenses, a wallet, two T-shirts, a pair of shoes and 50,000 won ($44) Lim Young-ho, a volunteer for the Sewol disaster, shared five pictures of the retrieved items and Baek’s portraits via his Facebook account Sunday. “Baek was a devoted son who said,
Social Affairs April 24, 2017
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Trump says 'very unusual moves' made with regard to N. Korea
US President Donald Trump said Thursday that "some very unusual moves" have been made with regard to North Korea as he praised Chinese President Xi Jinping for trying hard to rein in the communist neighbor."I think he's working very hard. I can say that all of the pundits out there saying they've never seen China work like they're working right now," Trump said during a joint news conference with Italian Prime Minister Paolo Gentiloni at the White House, referring to Xi."Many coal ships have bee
North Korea April 21, 2017
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Man arrested for theft targeting foreign travelers
A 43-year-old Korean man was arrested for allegedly stealing valuables from foreign tourists in Daegu and Busan, police said Wednesday. The Haeundae Police said the man, surnamed Kim, stole a cellphone from an American tourist on April 5. They first met at a guest house located in Haeundae-gu, Busan, and went to a bar together. Kim committed the crime while the tourist went to the restroom. (Yonhap)Kim was caught after police circulated a wanted poster based on security camera records. Kim had r
Social Affairs April 19, 2017
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Korean-Americans urge Trump to focus on separated families issue
Young Korean-Americans are sending letters to US President Donald Trump, calling for him to place priority on the issue of families separated by the inter-Korean border. (Yonhap)Radio Free Asia reported Tuesday that Korean-American youth organization Divided Family USA has organized to push resolution H.Con.Res.40, which was approved by the US Senate in December 2016. The resolution contains a call for the North to support Korean-Americans in reuniting with their cut-off family members.In Febru
North Korea April 19, 2017
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British tour company keeps N. Korea tour package
While China has reportedly suspended package tours to North Korea, British travel company Koryo Tours said it would keep sending tourists to the North.“None of our tours are being canceled, nor is there a need to cut any of our current tours short, and we will continue to visit the North as we have always done since 1993,” the travel agency said Sunday through a statement on its blog. The company said that it is in regular contact with the British Embassy in Pyongyang. The embassy has not change
North Korea April 17, 2017
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Chinese tour operators halt travel to North Korea
Amid escalating military tension on the Korean Peninsula, Chinese tour operators have canceled travel packages to North Korea, according to Hong Kong’s South China Morning Post. The report said Sunday that state-owned China International Travel Services and Ctrip.com International -- the biggest tour operators in the country -- had halted travel to North Korea. Air China has also decided to cancel its flight schedules between Beijing and Pyongyang. The airline has carried passengers to North Kor
North Korea April 16, 2017
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South African girl’s anesthesia reaction video goes viral in Korea
A South African YouTuber’s reaction to anesthesia has gone viral in Korea. The YouTuber named “Lindie Botes” had uploaded a video of herself waking up from anesthesia at a hospital. As soon as she opened her eyes, she started to speak in fluent Korean. She asked her friend questions such as “What time is it?” and she continued conversations in Korean. She also expressed pain and swore in Korean. Botes said she has never lived in Korea before, though she has been studying Korean for nine years.“I
People April 16, 2017
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Russia sent more than 165,000 barrels of refined petroleum to N. Korea in March: White House
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