Industry Reporter, The Korea Economic Daily
America's manufacturing renaissance Judge
Hae-young Park has been with The Korea Economic Daily for more than 17 years. He joined that publication in 1997 when many companies were beginning to face financial crises due to poor debt management. He witnessed manufacturing companies and financial institutions go bankrupt and the Korean government applied to the International Monetary Fund for a bailout. In 2005, Park was transferred to the capital market desk where he covered stocks and bonds. He maintains that September 15th 2008, when U.S investment bank Lehman Brothers filed for bankruptcy, was a turning point in his career. The events after Lehman’s bankruptcy revealed how much influence the insolvency of just one investment bank could put on the world economy. Global financial markets were in a state of uncontrollable confusion and he was surprised to see that investors made irrational decisions for psychological reasons. He is now back at the industry desk watching as Korean companies such as Samsung and Hyundai are experiencing difficulties after rapid growth periods. He is hopeful that he may learn a few things from the U.S. manufacturing sector that may be of help to Korean companies and businessmen. Park was awarded the Samsung Journalism Award in 2003.