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Korea Report - September, 2013.

Topics.

² President Park went to Russia and Vietnam on Sept 4-11 on a ‘sales diplomacy’.

² President Park and Vietnamese President Truong Tan Sang agreed to complete an FTA by 2014.

² Japan’s Abe confirmed the IOC members stating the Fukushima nuclear crisis is ‘under control’.

² SKorea banned imports of all fisheries products from Japan’s Fukushima and 7 other prefectures.

² MIKTA’ was launched by 5 nations-Mexico, Indonesia, Turkey, Korea, and Australia.

² Archives of Saemaul Undong in 1970’s entered UNESCO’s Memory of the World Register in 2013.

² Pyongyang unilaterally postponed the cross-border reunions of separated families slated for Sept 25-30.

² South and North re-opened their joint industrial park in Gaeseong from Sept 16.

² NK hoisted SKorea’s flag and played SKorea’s anthem on Sept 7 on NK’s soil.

² The government proposed a state budget plan of KW357.7 tril ($332.7 bil) for 2014.

² Standard & Poor’s affirmed its sovereign credit rating for SKorea at ‘A plus’.

² SKorea’s current account surplus reached $5.74 bil in Aug for the 19th straight month.

² Korea’s outstanding debts in the public sectors grew to KW517.9 tril in 2013.

² China is turning to Korea to in sourcing premium green and organic food products.

² SEC officially launched its flagship phablet Galaxy Note 3 and smart watch Galaxy Gear.

² 4-year prison term upheld by the appeals court on SK Group chairman-Chey Tae-won for embezzlement.

² 3 units of Tong Yang Group filed for court receivership.

² Korea saw a capital inflow of about KW9.322 tril to the stock market since late Aug.

² KOSPI has remained bullish most of the month, surpassing the 2,000 level.

² The KWon has climbed 6.4% the most since end-June against the USDollar.

² The consumer price index rose 0.8% on-year in Sept with jobless rate at 3%.

² NB Orders shows a 101% growth on-year in Aug.

² Korean Big 3 are confident to surpass their yearly NB target and put their efforts to raise the prices.  

² SHI settled the dispute with Flex LNG to have fresh order for 2 x 174K cbm LNG vessels.

² POSCO upped its standard prices of ‘hot-rolled’ steel plate.

² DSEC continues to supply the design and equipment package for General Dynamics NASSCO.

² New Management of STX O&S has decided to rescind low priced NB orders.

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