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  Korea Report - December 2019
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   Korea Report - December 2019 [secured].pdf (505.0K), Down : 13, 2020-01-06 16:18:22

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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.

TOPICS.

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 years 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]
NKs 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]
SKoreas 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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