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Our Ref No. 2020-09-006
KOREA REPORT - AUGUST, 2020.
Government
announced stricter social distancing measures to curb rapid spread of COVID-19
[p.2]
Even
after a vaccine is developed, there will be no immediate change to antivirus
rules [p.2]
Government
will pursue expansionary fiscal policy next year into ¡°Korean New Deal¡± [p.4]
High-stakes
game of chicken is playing out in Korea between government and doctors [p.5]
Decentralization
has been an important yet neglected issue in SKorea [p.6]
54
days of record long monsoon in central SKorea ended on 16th [p.7]
Kim
Jong-un has delegated some of his authority to his younger sister Yo-jong [p.8]
NK
is estimated to have between 20 and 60 nuclear bombs [p.8]
SKorea¡¯s
economy is expected to shrink minus 0.8% this year [p.10]
SKorea
recorded trade surplus of $4.12 bil in Aug [p.10]
Government
plans to supply 132,000 housing units in Seoul and its neighboring areas [p.12]
Samsung
led smartphone production market with 55 mil units in April-June period [p.12]
LG
Chem¡¯s brand value has surpassed the KW4 tril mark ($3.3 bil) for the first
time [p.13]
Korean
Air and Asian Airlines surprised the market by posting operating profit in 2Q
[p.15]
Hyundai
Motor¡¯s Genesis surpassed Mercedes-Benz in sales for the first time in 4 years
[p.17]
Foreign
stock ownership of SKorea¡¯s Kospi dipped to a 42-month low in Aug [p.18]
SKorea's
foreign exchange reserves came to a record high of $418.95 bil as of end Aug
[p.18]
Bank
of Korea kept base rate unchanged at record low of 0.5% [p.19]
CCCS
notified ¡®unconditional approval¡¯ on a proposed merger of HHI and DSME [p.19]
Korean
mid-sized shipbuilders won only two LR2 tankers (52,000 cgt) in 2Q [p.20]
HHIH,
SHI and DSME released it¡¯s performances for second quarter [p.21-22]
HMM
agreed with CMA CGM for sale of its stake in Total Terminal Intl Algeciras
[p.23]
LNG
trade growth is expected to decrease to 1% in 2020 to recover next year [p.23]
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