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Korea Report - May, 2011.

Topics.

² President Lee Myung-bak made a week-long European tour.

² National Assembly ratified the Korea-EU FTA.

² SKorea and USA started an investigation into the alleged burial of Agent Orange at a US military base.

² NK’s cyber warfare unit was back in the spotlight after an alleged online attack to bank.

² China proposed NK a 3-step formula: inter-Korean talks, NK-USA talks, then 6-party talks.

² Kim Jong-il made a trip to China, the third in just over a year.

² SKorea government is considering lowering its projection of economic growth in 2011 to 4% level.

² KDI sharply raised its 2011 inflation projection for Korea to 4.1%.

² Supreme Prosecutor’s Office to investigate the defunct savings banks.

² SKorea's listed companies saw their earnings rise 9.8% in the first quarter.

² Hyundai Motor received orders for their first gasoline-hybrid electric vehicles.

² Hynix Semiconductor won a patent infringement appeal against Rambus.

² BOK froze the key interest rate at 3% for the second straight month.

² Korean Big Three found themselves in tally over $20 bil of newbuilding order so far this year.

² Shipbuilding market seems to be in a few more dark years.

² Cargo handling at SKorea’s seaports grew nearly 8% in April.

² All of the Korea’s leading shipping companies posted loss in the first quarter.

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