F :
+82-31-783-6132
KOREA REPORT - DECEMBER, 2019.
European Commission announced on 17th that
it will carry out in-depth investigation into HHI Group's proposed acquisition
of DSME. Margrethe Vestager, the EU's competition chief said, "Cargo
shipbuilding is an important industry for the EU. Maritime transport represents
substantial portion of EU's freight trade, with European shipping companies
regularly purchasing vessels from DSME and HHI. This is why we will carefully
assess whether proposed transaction would negatively affect competition in the
construction of cargo ships, to detriment of European consumers."
Competition and Consumer Commission of
Singapore recently announced that it completed Phase 1 review of proposed
acquisition by Korea Shipbuilding & Offshore Engineering and DSME. CCCS has
raised competition concerns with KSOE on Proposed Transaction, based on
information furnished by KSOE and feedback from third parties. Third party
feedback suggests that the Parties are currently two of the largest suppliers
for global supply of LNG carriers, and possibly large containerships and large
oil tankers.
TOP 10 ISSUSES IN 2019 [p.2]
SKorea and the US on 3rd began their fourth round of SMA
negotiations [p.3]
National Assembly passed next year¡¯s budget bill worth
KW512.3 tril ($430 bil) [p.4]
Number of foreign visitor arrivals in SKorea to reach
all-time high of 17.5 mil [p.6]
SKorea's black comedy film "Parasite" bagged
four trophies [p.6]
NK¡¯s Foreign Ministry pressed the US for a decision on
denuclearization talks [p.7]
SKorea is fourth-largest buyer of US weapons over the
past 10 years with $6.28 bil [p.8]
SKorea¡¯s exports are forecast to rise by 3% in 2020 to
exceed $550 bil [p.9]
SKorea's trade surplus came to $2 bil in Dec, 95 straight
months of surplus [p.10]
The average market price of Seoul apartments stood at
$690,263 [p.11]
Majority of SKorean firms foresee current economy
entering a long-term slump [p.13]
Hyundai Development Company consortium acquires Asiana
Airlines with 61.5% share [p.16]
SK Energy to complete construction of its vacuum residue
desulfurization facility [p.16]
Hyundai Motor to invest $51 bil in R&D and future
technology by 2025 [p.18]
SKorea's consumer prices rose 0.7% on-year in Dec,
fastest growth in six months [p.20]
EC to carry out in-depth investigation into HHI's
proposed acquisition of DSME [p.20]
CCCS of Singapore completed Phase 1 review on HHI's
proposed acquisition of DSME [p.21]
Korean Register of Shipping elected Lee Hyung-chul as its
24th chairman [p.22]
HHI and KT Corporation checked construction status of '5G
based smart shipyard' [p.24]
SHI and SKT established autonomous sailing platform for
vessels based on 5G network [p.25]
Sungdong Shipbuilding acquired by HSG HI and Curious
Partners Consortium [p.26]
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