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Korea Report - July, 2016.
Korean Government decided to install
Terminal High Altitude Area Defense system (THAAD) in Korea to defend the nations
from missiles in the hand of the puerile amuck NK Leader. Some neighboring
countries raise their voices against the decision, even threatening diplomatic
relation, cultural exchange and economic ties. It is nonsense. It is not the
diplomatic game, but the matter of survival for the nation, as the security of
Korea faces immense challenge from NK. All the discussions should be focused to
stop Kim Jong-un from playing with missiles and nukes. If the sense of
significance could not be shared, ignoring the root of the concerns, they could
not call themselves neighbors. We only hope those missiles would not be dropped
in their land. It is disgusting to see new hegemonism from the neighbor with
discourtesy. Korea will stick to THAAD and tide over any kind of cut-in from
the neighbors. Korean Government should show the neighbors its firm will to
keep the peace in Korean Peninsula without their interference.
TOPICS.
Following
Hague ruling on South China Sea, Seoul¡¯s dilemma deepened between USA and China
(p.2)
SKorea and Mongolia
on 17th agreed to seek a bilateral free trade pact (p.2)
Oxy
Reckitt-Benckiser announced to provide compensation to Korean victims (p.3)
The nation¡¯s
minimum wage per hour for next year set at KW6,470 ($5.70) (p.3)
Korea
is to shut down 10 aged coal-fired power plants (p.4)
Seoul and
Washington presented their plan to complete THAAD system (p.5)
USA put Kim Jong-un
on its sanctions blacklist for the first time (p.7)
IMF estimated
SKorea¡¯s economic growth rate for next year at 3.0% in 2016 (p.9)
SKorea posted trade
surplus of $7.8 bil in July (p.9)
SKorea's top 10
conglomerates saw their market capitalization advance 5.13% on Brexit(p.11)
The performance of
chaebols in the second quarter (p.11)
Galaxy S7 has
managed to outsell iPhone 6S in USA for the first time (p.13)
7
Korean conglomerates jointly launched a research institute on artificial
intelligence tech (p.15)
Korea
saw the first auto trade deficit with China in the auto sector in May
(p.15)
Volkswagen
Korea ordered from Korean authority to stop sales of its vehicles (p.16)
KOSPI hit 2,027 by foreigners unrelenting
buying spree (p.17)
KWon strengthened
to 1,120 from1,165 against USDollar on Brexit (p.17)
BOK on 13th kept
interest rates unchanged at 1.25% (p.17)
Korea¡¯s government
has plans to order 61 ships at its struggling domestic shipyards (p.18)
HMD posted
operating profit of KW74.1 bil ($65.26 mil) in 2Q, surging 378% on-year (p.21)
JH Ko and ST Nam, ex
CEOs of DSME, arrested on fraud (p.21)
Court viewed going
value of STX O&S is more than liquidation value (p.22)
Hyundai Group's
flagship HMM will become a subsidiary of the KDB (p.22)
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