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Korea Report - July, 2012.

Topics.

² Korea secured exclusive rights to explore and develop deep ocean mine in Indian Ocean.

² Korea is considering accepting Iran’s proposal to supply oil to Seoul using its own oil tankers.

² A Korean high-school team won 6 gold medals at Math Olympiad.

² Park Ji-sung left Manchester United, for Queens Park Rangers.

² Seoul is expected to become the 11th most visited city in the world.

² Ri Young-ho, NK’s General Staff Chief, has been removed from all his posts.

² SKorea selected BAE Systems for a project to upgrade the KF-16 fighter jets.

² SKorea and China agreed to establish a hotline communications channel.

² BOK cut its key interest rate for the first time in more than 3 years from 3.25% to 3%.

² BOK forecast that GDP growth for this year below 3%.

² Korea’s current account surplus widened to a record high in June.

² The nation’s import car industry is continuously expanding.

² Foreign direct investment in SKorea rose to a new high in the first half of the year.

² SEC increased its lead over Apple and Nokia in the global cell phone market.

² SEC has gained an edge in its global patent battle with Apple Inc.

² HMC and Kia saw their combined share of the European market hit an all-time high in June.

² Major foreign investment banks have advised investors to purchase more SKorean stocks.

² Korea’s consumer prices grew at the slowest pace in 12 years in July.

² Korea’s Big 3 are not free from the shortage of workload.

² HHI secured order for 10 x 13,800 teu boxships.

² The finance ministry and KOEXIM Bank vowed to expand financing support for shipbuilders.

² The creditors led by Woori Bank decided to provide KW400 bil to SPP Shipbuilding.

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