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  Korea Report - August 2016
  Author : Hwang & Co     Date : 16-09-06 14:12     Hit : 33205    
   Korea Report - August 2016.pdf (334.9K), Down : 15, 2016-09-06 14:12:12

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Korea Report - August, 2016.


McKinsey Korea, which is due to publish an assessment report on Korea¡¯s Big 3, concluded that the trio can stay afloat without merging into one another, according to local newspaper, as it is the best to maintain the three shipyards¡¯ operations separately because DSME¡¯s competitiveness is not lagging behind those of HHI and SHI, while many industry watchers have believed DSME should be merged into either of the other two shipbuilders. Big 3 should halve their production capacity by 2020 as global orders for ships are likely to drop sharply, according to McKinsey¡¯s analysis. It is also said to recommend DSME to carry out the sales of its defense unit in the report.


TOPICS.

 

Improper Solicitation and Graft Act is to take effect on Sept 28th (p.2)


SKorea has been experiencing abnormally hot weather since July (p.3)


Cultural ministers of SKorea, China and Japan agreed to push for joint cultural events (p.4)


SKorea finished in eighth place with 9 gold medals at Rio de Janeiro Olympics (p.4)


Top diplomats of SKorea, China and Japan vowed joint efforts against NK¡¯s nuclear armament (p.5)


NK's deputy ambassador in London has defected with his family to SKorea (p.6)


SKorean national budget is to exceed KW400 tril the first time (p.8)


SKorea ranked 11th worldwide in GDP in 2015 (p.8)


S&P raised Korea¡¯s sovereign rating to ¡°AA¡± from ¡°AA-¡±, higher than China and Japan (p.9)


SKorea and Japan agreed to resume currency swap deal (p.9)


FSS warned 32 SKorean businesses are in need of corporate rehabilitation (p.12)


Samsung Electronic¡¯s PE ratio outpaced its archrival Apple for the first time (p.13)


Lotte Group fell further into crisis after its second man committed suicide (p.14)


CJ Group chosen as one of this year¡®s 7 World-Changing Companies by Fortune (p.15)


USA is to impose anti-dumping and countervailing duties for Korean steel products (p.16)


Hyundai Rotem won $994 mil train supply deal in Australia (p.17)


SKorea plans to sell KW1 tril ($900 mil) worth of Treasury bills (p.17)


KWon gained ground against the greenback by 7% over the past month (p.18)


McKinsey Korea concluded that BIG3 can stay afloat without merging into one another (p.19)


HHI settled amicably the dispute with Fred Olsen Energy (p.20)


SHI plans to raise $983 mil through a rights offering to cover losses and to stay afloat (p.21)


DSME is receiving $600 mil early payment from its traditional customers (p.21)


HMM will be off to a fresh start as a subsidiary of the KDB (p.23)


Hanjin Shipping filed for court receivership on 31st, entering path to bankruptcy (p.23)


Sinokor owns an LNGC fleet comprising 9 vessels (age between 27-39) (p.24)


KOGAS is to place an order for 2 x 3,500 tons gas transport ships to local yards (p.24)


 


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