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Korea Report - January, 2012.

Topics.

²   SKorea, China and Japan will likely start their first round of trilateral free trade negotiations.

²   Korea’s financial aid to underdeveloped and developing countries surpassed $1 bil per annum.

²   SKorea decided to reduce its oil imports from Iran “in steps”.

²   The year of 2012 is year of elections, National Assembly in April and next president in Dec.

²   NKorean media opened New Year emphasizing loyalty to regime and new leader Kim Jong-un.

²   SKorea's economic growth slowed to 3.6% in 2011 on-year.

²   SKorea's trade balance turned into the red with deficit of $1.96 bil, for the first time in 24 months.

²   Korea’s trade deficit with Japan sharply fell last year.

²   FSC approved Hana Financial Group’s bid to take over Korea Exchange Bank.

²   SKorea's average gasoline price surged 12.8% on-year to KW1,929 ($1.68) per liter in 2011.

²   Political circle are racing to attack chaebols for the votes in coming election.

²   Samsung Electronics overtook Nokia for the top spot in world mobile phone sales.

²   Overseas orders for industrial plants rose to a new all-time high last year.

²   KWon has been strengthened against USDollar.

²   Korean builders expect sustainable market on high value ships in 2012.

²   Korean shipbuilders prepare a joint bid for the GTT design.

²   Korean owner cinsider expansion of fleet taking advantage of low newbuilding prices.

²   BDI dropped to just 726 on 27th, the lowest since Dec 2008.

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