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  Korea Report - March 2017
  Author : Hwang & Co     Date : 17-04-06 13:36     Hit : 24076    
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Korea Report - March, 2017.


President Park has been impeached and removed from her office, then arrested and jailed for further investigation. The event led an enormous shock with the split in national opinion throughout the country but aftermath was modest. The stock market kept rising and the investors reacted to the impeachment of female president, as cleared the uncertainty. While NKorea is developing nuclear weapon and testing missiles, threatening the safety of the country, SKorean political circle was busy with impeaching President leaving all the national security to the arena of competition between USA and China. May 9th is the election day for next president. We hope a respectful person would be chosen to unite the people into more harmonious way and change the country into more respectful society.

Even though the final decision will be made in the General Share Holders Meeting on April 17-18th, it seems inevitable for Korean Financial Service Commission and two leading creditors to extend the life line with KW2.9 tril (approx. $2.6 bil) for DSME, in consideration of the existing orderbook and its employment in the shipyard. But, the fears are shadowing the industry for the negative impact of the measure to the worldwide oversupply and spraying the cold water over the improving shipbuilding prices.


TOPICS.


Constitutional Court ruled unanimously to remove President Park from office (p.2)

The election day for next president is designated on May 9th (p.3)

China kept ratcheting up economic retaliation against SKorea over THHAD (p.3)

US House lawmakers condemned China's retaliation against SKorea (p.4)

The Sewol ferry, which sank in April 16th, 2014, was lifted above water on 23rd (p.5)

SKorean girls continue winning streak in LPGA (p.6)

Malaysia has canceled its visa waiver arrangement with Nkorea (p.7)

NK kept launching ballistic missiles against intensive SKorea-USA joint drill (p.8)

SKorea is unlikely to reach its long-held target of $30,000 in GNI per capita this year (p.9)

Samsung Groups reforms were prompted by scandal involving President Park (p.12)

SEC has finally unveiled its flagship Galaxy S8 smart phone (p.13)

SK hynix is to join the bid to purchase the memory chip business of Toshiba (p.14)

555m height Lotte World Tower opened in Seoul (p.14)

Combined market capitalization of SKorean stocks held by foreigners exceeded $449 bil (p.16)

KOSPI and KWon kept solid despite the impeachment of president (p.16)

BOK left its key rate at 1.25% in Feb, despite the USFRs rate hike (p.16)

Korean shipbuilders scored a total of $ 3.8 bil (33 units) worth of orders in 1Q, 2017 (p.17)

HHI is to develop a small LNG-FSRU worth KW100 bil ($100 mil) (p.20)

HHI closed Building Dock No.5 in its Ulsan headquarters as of March 17th (p.20)

FSC and banks tend to extend lifeline to DSME with KW 2.9 tril (p.21)

Maersk Group and HMM signed an agreement to establish strategic partnership (p.22)


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