HWANG & COMPANY,
LTD.
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Korea Report - March,
2017.
President Park has been impeached and removed from her
office, then arrested and jailed for further investigation. The event led an
enormous shock with the split in national opinion throughout the country but
aftermath was modest. The stock market kept rising and the investors reacted to
the impeachment of female president, as ¡°cleared the uncertainty¡±. While NKorea
is developing nuclear weapon and testing missiles, threatening the safety of the
country, SKorean political circle was busy with impeaching President leaving all
the national security to the arena of competition between USA and China. May 9th
is the election day for next president. We hope a respectful person would be
chosen to unite the people into more harmonious way and change the country into
more respectful society.
Even though the final decision will be made in the
General Share Holders Meeting on April 17-18th, it seems inevitable for Korean
Financial Service Commission and two leading creditors to extend the life line
with KW2.9 tril (approx. $2.6 bil) for DSME, in consideration of the existing
orderbook and its employment in the shipyard. But, the fears are shadowing the
industry for the negative impact of the measure to the worldwide oversupply and
spraying the cold water over the improving shipbuilding
prices.
TOPICS.
Constitutional Court ruled unanimously to remove President Park from office
(p.2)
The election day for next president is designated
on May 9th (p.3)
China kept ratcheting up economic retaliation
against SKorea over THHAD (p.3)
US House lawmakers condemned China's retaliation against SKorea (p.4)
The Sewol ferry, which sank in April 16th, 2014, was lifted above water on
23rd (p.5)
SKorean girls continue winning streak in LPGA (p.6)
Malaysia has canceled its visa waiver arrangement with Nkorea (p.7)
NK kept launching ballistic missiles against
intensive SKorea-USA joint drill (p.8)
SKorea is unlikely to reach its long-held target of $30,000 in GNI per
capita this year (p.9)
Samsung Group¡¯s reforms were prompted by scandal involving President Park (p.12)
SEC has finally unveiled its flagship Galaxy S8
smart phone (p.13)
SK hynix is to join the bid to purchase the
memory chip business of Toshiba (p.14)
555m height Lotte World Tower opened in Seoul
(p.14)
Combined market capitalization of SKorean stocks held by foreigners
exceeded $449 bil (p.16)
KOSPI
and KWon kept solid despite the impeachment of president (p.16)
BOK left its key rate at 1.25% in Feb, despite
the USFR¡¯s rate hike (p.16)
Korean
shipbuilders scored a total of $ 3.8 bil (33 units) worth of orders in 1Q, 2017
(p.17)
HHI is
to develop a small LNG-FSRU worth KW100 bil ($100 mil) (p.20)
HHI
closed Building Dock No.5 in its Ulsan headquarters as of March 17th (p.20)
FSC and
banks tend to extend lifeline to DSME with KW 2.9 tril (p.21)
Maersk
Group and HMM signed an agreement to establish strategic partnership (p.22)
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