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| Korea Report - November 2021 |
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| Author : Hwang & Co
Date : 21-12-07 16:36
Hit : 19835
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 Korea Report - November 2021.pdf (426.9K), Down : 6, 2021-12-07 16:36:57 |
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F : +82-31-706-1390
E : hwangnco@hwangnco.com
H : www.hwangnco.com
KOREA REPORT - NOVEMBER, 2021.
SKorea
activated the first of three-stage scheme on 1st to gradually phase out
coronavirus restrictions as more than 70% of the
population have been fully vaccinated. Effective for four weeks, operation hour
curfews on cafes, restaurants and other businesses were fully lifted, except
for nightlife establishments, while private gathering limit was raised to 10
people for greater Seoul area. Second and third phase of "living with
COVID-19," are expected to be effective in Dec and Jan.
¡°Squid
Game¡± was announced winner of breakthrough series¡¯ long format category at 2021
Gotham Awards on 30th. Five other TV series,
including Amazon Studios¡¯ ¡°Small Axe¡± and HBO Max¡¯s ¡°It¡¯s A Sin,¡± vied for the
prize in the over 40-minute category at annual US awards ceremony for
lower-budget indie movies and TV series. Squid Game revolves around a contest where 456 players, who are in deep
financial debt, risk their lives to play a series of Korean children¡¯s games to
win a KW45.6 bil ($38.5 mil) prize. It became the most successful TV show in
Netflix history with more than 142 mil viewers in the first four weeks after
its release on Sept 17th.
SKorea's
exports are expected to touch all-time high in 2021 on brisk overseas demand
for key products, with growth momentum likely to continue
next year, according to Korea International Trade Association on 22nd. Overseas
shipments are projected to swell 24.1% on-year to $636.2 bil this year. Imports
are likely to amount to $605.7 bil, up 29.5% on-year. KITA predicted SKorea's
exports to increase 2.1% on-year to $649.8 bil in 2022, with imports forecast
to inch up 1.6% to $615.4 bil.
SKorea's
trade surplus came to 3.09 bil in Nov,
marking 19th consecutive month of surplus, on the back of strong global demand
for chips and petro products. Exports spiked 32.1% on-year to reach an all-time
monthly high of $60.44 bil, the first time to surpass the $60 bil mark. Imports
advanced 43.6% on-year to $57.36 bil.
Third-quarter
average operating margins of SKorea's top 100 companies came to 10.74% in
July-Sept period, up 1.98% on-quarter, according to
Federation of Korean Industries on 22nd. It marks the first time for their
average operating margin to surpass 10% since 2018, when total operating profit
soared amid chip industry boom. Read more¡¦
SKorean
drugmakers are at crossroads on whether or not to continue developing COVID-19
treatments, as vaccination rates rise across the world and first drug from
Merck is set to debut soon. Merck¡¯s recent decision to give away patents
related to molnupiravir, world¡¯s first COVID-19 pill, for developing countries
to produce generic drugs, could prompt latecomers to drop out of the race. Read
more¡¦
SKorea's
consumer prices increased 3.7% on-year in Nov,
rising at the fastest pace in 10 years due to surging energy costs and high
prices of farm products. It rose 0.4% on-month. Prices of petroleum products
jumped 35.5% on-year, steepest gain since July 2008. Prices of industrial
products climbed 3.5%. Prices of agricultural, livestock and fishery products
shot up 7.6% on-year. Core inflation rose 1.9% on-year in Nov.
Korean
key shipbuilders were awarded 328 newbuilds of a combined 15.03 mil cgt from
Jan to Oct 2021, up by 302.4% on-year. By
company, HHI won 70 vessels of 4.14
mil cgt, up 300.1% on-year. HSHI saw
a 722.3% on-year increase by securing contracts for 44 vessels of 2.05 mil cgt,
while HMD were awarded 70 units of
14.46 mil cgt, up 54.1% on-year. DSME
scored 49 newbuilds of 27.76 mil cgt, up 173.1% on-year. SHI experienced 894.4% on-year increase
in its order intakes by winning 75 ships of 4.39 mil cgt. Daesun won 19 vessels of 212,535 cgt, up by 291.2% on-year,
while Hanjin HIC, which had no track
record last year, won one vessel of 10,121 cgt.
QatarEnergy
announced on 7th that it has placed first batch of LNG shipbuilding orders with
Korean shipyards consisting of four vessels from DSME and two vessels from SHI,
as part of QatarEnergy¡¯s historic shipbuilding program. The orders came in the form of QatarEnergy¡¯s declaration of its
ship construction options with two Korean shipyards under its Reservation of
Shipyard Capacity agreements signed in May 2020. Read more¡¦
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