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  Korea Report - May 2021
  Author : Hwang & Co     Date : 21-06-07 16:09     Hit : 3031    
   Korea Report - May 2021.pdf (394.8K), Down : 2, 2021-06-07 16:09:00

 

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KOREA REPORT - MAY, 2021.

 

TOPICS.

 

SKorea announced on 26th that people who have received first dose of COVID-19 vaccine will no longer be required to wear masks outdoors starting July. The government has completed inoculation of 1.9 mil people, or 3.8% of country's 52 mil population. People who have been fully vaccinated against coronavirus in SKorea are exempted from mandatory 14-day isolation starting 5th when arriving here. They will still need to receive COVID-19 tests and have no related symptoms to be exempted from mandatory self-isolation.

 

Moodys kept the credit rating of SKorea at Aa2, affirming outlook at stable, according to Ministry of Economy and Finance on 12th. It cited the nations strong economic fundamentals, and quick economic recovery from the coronavirus pandemic as some of the reasons for the rating. The Aa2 grade is second highest among Asian nations after Singapore, which was given an Aaa score.

 

Korea's Big 3 shipbuilders, KSOE, SHI and DSME have secured sizable amount of work, showing a rebound trend. On a first quarter of 2021 basis, the big 3s orderbook reached figure worth KW52.604 tril. Their current orderbook can keep yards employed for over two years. As of end 2020, value of three Korean shipbuilding giants orderbook was KW42.416 tril. It means that a 24% increase was seen during three months. As for KSOE, its backlog was worth KW25.3 tril, up by 16.2% compared to KW21.763 tril seen at the end of 2020. SHI secured vessels worth KW16.219 tril in its orderbook as of end of first quarter, representing a 35% upturn from KW12.012 tril posted in late 2020. DSMEs backlog is valued at KW11.085 tril, showing a 28.3% growth against KW8.64 tril recorded in late 2020. Also, it is reportedly first time that Korean big 3 shipbuilderss order cover has exceeded two years since first quarter of 2016.

 

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