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Korea Report - February, 2015.

INVITATION OF YOUR COMMENTS

Since the establishment in Jan 1990, we, Hwang & Co., have visited our esteemed clients on a monthly basis through the publication of ‘Korea Report’. This news service has run for more than 2 decades without interruption but in a rather fixed format, whilst trying to cover Korea extensively in almost all aspects. We intend to make a further stride in being of service and assistance to you by putting some changes in our news format, focusing more on shipbuilding and shipping, whilst cutting back on the pages dedicated on general things about Korea. In this respect, we kindly request you, as readers, to send us your valuable opinions or comments, regarding the change of format and content of the report. Thank you. 

Topics.

²  President Park reshuffled her cabinet, newly appointing PM, presidential chief of staff, and 4 ministers.

²  The nation’s top court decriminalized adultery in Korea, revoking a 1953 law under which cheating spouses could be jailed for up to 2 years.

²  SKorea ranked world No 10 in its defense spending which amounted to $34.4 bil in 2014.

²  SKorea’s trade surplus came to $7.66 bil in Feb, the highest amount ever for the country.

²  SKorea’s 18 major banks saw their net profit soar 60.4% on-year to KW6.2 tril ($5.7 bil) in 2014.

²  Major SKorean conglomerates plan to invest a total of KW34.4 tril ($31.5 bil) in their facilities this year.

²  Samsung Group entered the top 10 list of most reputable firms appealing to US consumers.

²  LG Display ranked No.1 with 27.9% share of global UHD TV panel market in last quarter of 2014.

²  Korean Air and Asiana Airlines bounced backed to an operating profit, thanks to cheap fuel price.

²  Daelim won a $646.03 mil construction deal from Singaporean Maritime and Port Authority.

²  Global NB orders slumped 53% on-year to 4.4 mil dwt (68 ships, $3.5 bil) in Jan 2015, in dwt terms.

²  KOEXIM backs up the $268 mil in financing 7 x 84K-cbm VLGCs inked by BW LPG with HHI.

²  HMD posted a net profit of KW70 bil ($63 mil) in the fourth quarter.

²  SHI reaped an operating profit of KW101.7 bil and KW41.4 bil in the fourth quarter of 2014.

²  H&C logged a net loss of KW299.81 bil ($275 mil) last year.

²  Donga Tanker decided to convert 4 Capes to 2x115K tankers and 2x115K PCs at Hyundai Samho.

²  Techmarine is hunting Korean investors to jointly take over the Samjin’s Weihai yard in China.

²  Harim and its partner JKL signed a deal to take over 58% of Pan Ocean for KW1 tril ($900 mil).

²  Hyundai Glovis penned a $100 mil shipping contract with a Qatari firm.

²  Korea's Daebo Shipping applied for bankruptcy protection with a local court.

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