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Korea Report - July 2010.

Topics.

² The stalled Korea-US FTA gained new momentum.

² SKorea's relations with Libya are swiftly deteriorating.

² The ruling GNP scored a crucial victory in by-elections on July 28.

² For the first time, a local mayor has declared a moratorium on repayments.

² The UNSC condemned an attack the Navy corvette Cheonan.

² SKorea and USA conducted joint military exercise in East Sea.

² USA outlined a number of new sanctions against NK.

² Korea's economy beat growth forecasts, pulling off 7.2% growth on-year in Q2.

² BOK unexpectedly raised its key rate by 0.25% to 2.25%.

² Korea's exports increased for a ninth month in July.

² Relations between Blue House and chaebols appear to be on a precipice.

² KOSPI rose to 1773 for the first time in 25 month.

² Korea's foreign exchange reserves reached $285.96 bil as of the end of July.

² Korean shipbuilders racked up modest orders in the first half of the year.

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