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Korea Report - September,
2016.
The key to persuade NK to halt nuclear test is obviously
with China. But China¡¯s ambiguous attitude is encouraging NK into wrong
direction and Chinese media is making situation even more difficult by
threatening SKorea to choose between USA and China as their ally. On top of
that, they are even trying to adversely affect the cultural exchange and
discourage their tourists to visit Korea. What a mean who poses a big. It seems
imminent that the selection must be made from China first on choosing between
South and North Korea.
Hanjin Shipping¡¯s extremely expensive ships and cargoes
are being arrested in major global ports by numerous minor creditors. But, all
related parties - Hanjin Shipping, Hanjin Group, Government, creditors - here in
Korea are wasting their time on blaming each other for the fault in hand. Most
important issue was to release $150 mil at the beginning to assist these ships
to off load safely their intended goods and comeback to Korea. It seems like the
task for the government and the creditors to stop playing the blaming game, but
to act to avoid loosing the golden time. It is very late, but never to be too
late.
TOPICS.
China reconfirmed differences over planned deployment of
THAAD system to SKorea (p.2)
SKorea and Netherlands on 27th signed five MOUs on
bilateral cooperation (p.3)
The new ¡°Kim Young-ran¡± law is sweeping shift in living
style in Korea (p.3)
5.8 magnitude earthquake jolted historic city of
Gyeongju (p.4)
Major unionized strikes occurred throughout the nation
(p.4)
NK carried out another nuclear test assessed to be its
largest one to date (p.7)
US Treasury blacklisted Dandong Hongxiang Industrial
Development in China (p.7)
NK's vice premier was executed for bad posture during
leader speech (p.8)
SKorea will likely see its per capita GDP touch $30,000
mark in 2018 (p.9)
S&P said SKorean economy could grow at average rate
of 2.9% per year until 2019 (p.10)
SEC announced unprecedented global recall of 2.5 mil
Galaxy Note 7s worldwide (p.12)
LG Chem set a goal of reaching $6.3 bil sales for
electric vehicle batteries by 2020 (p.13)
Prosecutors grilled whole LotteGroup owner family over
corruption allegations(p.13)
Offshore investors have kept buying Korean stocks for
eight consecutive months (p.16)
SKorea¡¯s central bank kept its key base rate unchanged
at 1.25% (p.17)
HHI to suspend the operation of its docks due to lack of
works for the first time (p.20)
SHI won the first order to build 2 x 180K cbm LNG
carriers for Gaslog (p.20)
DSME has avoided delisting from the Korea Exchange
(p.21)
HMM is working to absorb valuable assets held by Hanjin
Shipping (p.22)
Yoo Chang-keun, former CEO of the Incheon port
authority, took the helm of HMM (p.22)
Hanjin Shipping lost Golden Time by playing the blaming
game among concerned parties (p.23)
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