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Korea Report - September, 2012.

Topics.

² “Gangnam Style” and Psy’s trademark horse-riding dance has taken the pop world by storm.

² Tensions are running high between Seoul and Tokyo over the dispute on Dokdo and sex slaves.

² Rev Moon Sun-myung, the founder of the Unification Church died.

² Kim Ki-duk received the Golden Lion award for his film “Pieta” in Venice Film Festival.

² NK could lose as much as 13% of its grain harvest this year as a result of drought and flood.

² The government plans to spend KW342.5 tril ($305.6 bil) in 2013, an increase of 5.3% on-year.

² All Big Three credit rating agencies upgraded the ratings of Korea, higher than Japan.

² 10 foreign investment banks forecast the Korean economy to grow an average 2.6% this year.

² Samsung saw record sales of its flagship Galaxy S3 in a short period of time.

² The patent battle between Samsung and Apple is intensifying in 10 countries.

² SKorea's consumer prices grew 2% on-year in Sept, from the 1.2% gain in Aug.

² Ship Price Index plunged to 127, the lowest since March 2004.

² The global order backlog continues the drop to 96.4 mil CGT at the end of Aug, the lowest since 2005.

² 5 local power generating companies plan to jointly employ the new 7 x 150K class bulkers.

² HHI made surprise move for the bidding to acquire a 41.75% stake in Korea Aerospace Ind.

² Creditors of Sungdong Shipbuilding decided to inject fresh financing of KW550 bil ($550 mil) through 2013.

² Vale signed the Sale & Charter Back Agreement with Polaris Shipping for 10 VLOCs.

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