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Korea Report - August, 2011.

Topics.

² Tension arose between Korea and Japan, as Japan claims sovereignty of Dokdo.

² Oh, Mayor of Seoul, resigned, as he lost referendum to thwart an opposition-led unconditional free lunch program for the students.

² Korea will become the world’s most aged society by 2050.

² Expense for reunification of Korea estimated around $157 bil, with gain $220 bil.

² Kim met Medvedev to discuss gas pipeline and 6 way nuke talks.

² Tax revenues hit a record high last year.

² SKorea's trade surplus shrank to $821 mil in Aug.

² Ships have emerged as SKorea’s leading export item this year.

² KOGAS secured several new long-term LNG supply deals.

² President Lee drummed up support from chaebols to reduce social disparities.

² Korea’s leading businesses are making their forays into Latin America.

² A fierce patent battle between SEC and Apple continued.

² Hyundai Motor Group Chairman Chung Mong-koo donated KW500 bil ($462 mil).

² KOSPI lost lost more than 20% in first 3 weeks.

² SKorea's foreign exchange reserves totaled $312.19 bil at the end of Aug.

² BOK decided to keep the key interest rate steady at 3.25%.

² SKorea's consumer prices grew at the fastest pace in 3 years in Aug to 5.3%.

² The export of ships from Korean yards totaled $6.21 bil in July.

² The share of box ship bigger than 5,100 teu will exceed 50% in 2014.

² Hanjin’s struggle with union continued.

² STX Pan Ocean becomes only company among Big 3 to mark the gain in the H1.

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