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Korea Report - October, 2012.

Topics.

²  SKorea and Japan are struggling to get out of disagreement on history and territory.

²  SKorea won nonpermanent seat in the UN Security Council for 2013-14.

²  Green Climate Fund of UN will set up its head office in Songdo, Incheon.

²  Psy’s quest for world music domination shows no signs of slowing down.

²  NK threatened to carry out a “merciless military strike” against SKorea.

²  USA agreed for SKorea to develop ballistic missiles with a range of up to 800 km.

²  BOK cut the key interest rate by 0.25% to 2.75%.

²  The IMF lowered its forecast for Korea’s GDP growth this year to 2.7%.

²  The KWon posted a 4.2% appreciation against the dollar so far this year.

²  Korea’s debt is expected to snowball to KW445.2 tril ($339 bil) this year.

²  Samsung Electronics was included in the world’s 10 most valuable brands.

²  Samsung Electronics logged a record-breaking operating profit for the third quarter.

²  Patent war between Samsung and Apple continue in the courts over the world.

²  STX Group has signed a contact with Orix Corp to sell a 43.1% stake in STX Energy.

²  Sales of foreign-made vehicles in SKorea jumped 20.6% in Sept on-year.

²  K-sure and KOEXIM to provide $3 bil for the Ichthys LNG project in Australia.

²  Builders and owners are mixed up in prediction of the market for recovery.

²  A number of ships ordered by TMT troubled the yards.

²  HHI is taking applications for early retirement for the first time.

²  Polaris Shipping has secured loan to help fund its $600 mil sale-and-leaseback deal with Vale.

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