HWANG & COMPANY

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Korea Report - May 2010.

Topics.

² SKorea, China and Japan held their 2-day summit on Jeju Island, to discuss

investment and FTA among 3 countries.

² Korea demonstrated its potential to emerge as a hub of medical tourism.

² The British Philharmonia Orchestra performed for Korean Hansen's disease patients.

² Evidence proves that NK launched torpedo attack on SKorea’s warship. Pyongyang

denied the accusation, calling the probe results "a sheer fabrication".

² NK leader Kim Jong-il made visit to Beijing, first time in 4 years.

² KDI raised this year's economic growth forecast to 5.9%.

² Pressure to raise the key interest rate growing.

² Korea posted a trade surplus of $4.36 bil in May.

² KDB is increasing its investment in specialized private equity vehicles.

² Samsung Group to spend KW23.3 tril on health and green energy businesses.

² Korea's automobile market has become the world's 12th largest in 2009.

² POSCO selected as the preferred bidder for Daewoo International.

² Composite Stock Price Index has been plummeting throughout the month.

² The exchange rate of KWon against USDollar skyrocketed.

² Shipbuilding capacity is major factor to kill the market, order backlog is another.

² Second tier local financing circle aggressively jumped in the shipping industry.

² The operating gains of Korean major yards soared in the first quarter.

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