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Korea Report - December, 2013.

Topics.

²  Japan's Abe visited the Yasukuni Shrine, angering neighbor countries.

²  SKorea agreed to return the remains of 425 Chinese troops killed during 1950-53 Korean War to China.

²  SKorea’s expanded air defense zone went into effect on Dec 15, 2013.

²  KORAIL workers waged a 22-day strike, causing themselves heavily penalized.

²  Glass roof for Korean women started to be broken.

²  Jang Song-tak, uncle of NK leader and No 2 man, was publicly executed for treason.

²  SKorea's government budget has been fixed at KW355.8 tril for 2014.

²  Korea’s trade surplus has continued for 23 months, posting $3.67 bil in Dec.

²  Korea’s trade volume in 2013 once again exceeded $1 tril for 3 consecutive years.

²  The Supreme Court ruled that bonuses constitute part of “ordinary wages” used as the basis for

calculating various types of compensation and severance pay.

²  SEC sold 1.41 bil units of mobile DRAM, accounting for 50% share of the global market for 2Q.

²  From Jan to Nov 2013, the combined sales of HMC and Kia stand 6.9 mil vehicles.

²  Korea’s overseas construction orders totaled $79 bil as of Nov 2013.

²  Foreign investors bought $12.39 bil worth of Korean shares in 2H of 2013, valuing up to 35.57%.

²  KWon kept strong against USDollar in the level 1,050.

²  SKorea's consumer price index rose 1.1% on-year in Dec 2013.

²  Global NB orders stand on 1,912 ships of a combined 121 mil dwt as of Nov 2013, up 158% on-year.

²  Global shipbuilding has shown recovery throughout 2013, still with the shadow of over supply.

²  BP signed a contract with HMD for 14 MR PCs - 9 x 50Ks and 5 x 40Ks, at $560 mil.

²  The Financial Regulator will auction its stakes in DSME for sale in early 2014.

²  ‘K-Sure’ financed $345 mil for 2 x drilling rigs from built by SHI for Stena.

²  HMM ordered to Bohai for 2 x 210K VLOCs, taking advantage of price.

²  Hanjin Shipping decided to offload a 76% stake of its cash cow, bulk carrier division, to ease liquidity.

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