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Korea Report - October, 2014.

Topics.

² President Park visited Italy from Oct 14-to-18, attending ASEM summit, and meeting with Italian President and Pope Francis.

² The prosecution sought capital punishment for the ferry Sewol’s captain.

² SKorea to send 20-member medical team to WAfrica to join global efforts to contain Ebola epidemic.

² Park Ji-sung became the ambassador of his Manchester United of the EPL.

² SKorea and USA agreed on a conditional transfer of wartime operational control till the South’s ‘critical’ military capabilities are secured.

² SKorea has received its first US oil in at least 8 years from Alaska.

² SKorea’s debt is expected to grow this year to KW496.8 tril ($464 bil) from KW464 tril last year.

² BOK lowered Korea’s economic growth forecast for this year to 3.5% from 3.8%.

² In the first 8 months, SKorea’s trade surplus in cosmetics stood at $147.66 mil.

² SEC began mass production of 3-bit vertical NAND flash memory chips for the first time in the world.

² Kang Duk-soo, founder of STX Group, was sentenced 6 years behind bars for corporate crimes.

² AmorePacific Group, cosmetics producer, aims to increase sales 9-fold to $2.83 bil in China by 2020.

² SKorea’s national pension fund to increase its investment in local shares by nearly 30% in 2015.

² SKorea plans to open a KWon-RMB direct trading market in Dec.

² The KWon ended the month at KW1,068.50 to the greenback on Oct 31.

² BOK cut its benchmark interest rate to a record low of 2.0% in Oct from the 2.25%.

² Global NB order inked this year to Sept totals 1,388 ships of 90.20 mil dwt (30.80 mil cgt, $75.2 bil).

² KOGAS decided to build 6 new 172-180K cbm LNG carriers, 2 at SHI and 4 at DSME.

² KOEXIM vowed to finance $170 mil for 8x9,200-teu box-ships built at HHI for Greece’s Oceanbulk.

² SKorean shipbuilders struggle to overcome the unaccustomed losing games.

² 81 executives within HHI Group were sacked.

² Korean yards won a series of LNG carriers benefitted from US shale gas exports.

² Hanjin Shipping has finally turned around to a net profit of KW39.8 bil ($39 mil) in the third quarter.

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