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Sunday, January 21, 2018

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Upbit ranked first in the world in terms of 24-hour crpytocurrency trading volumes with 4.92 trillion won (US$4.62 billion),

Proving Overheated Speculation

17 January 2018 - 9:30am
Yoon Yung Sil

South Korea’s largest cryptocurrency exchange Upbit disclosed its amount of daily transactions on January 16 for the first time. CoinMarketCap, arguably the most prominent global index of cryptocurrency prices, said that Upbit ranked first in the world in terms of 24-hour trading volumes with 4.92 trillion won (US$4.62 billion), according to the data received from Upbit. As another domestic cryptocurrency exchange Bithumb also took third place, South Korea’s speculative investment in digital currency was proved with the figures.

Upbit hasn’t been officially disclosing its trading...

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ESS holds the key to raising the efficiency of unstable renewable energy sources as the Korean government is strongly moving forward with energy conversion policies to expand the proportion of new and renewable energy.

Blue Ocean in Energy Sector

16 January 2018 - 10:00am
Michael Herh

The ESS (Energy Storage System) business is emerging as a “blue ocean. in South Korea.” This is because as the Korean government is strongly moving forward with energy conversion policies to expand the proportion of new and renewable energy such as solar power and wind power generation, ESS holds the key to raising the efficiency of these unstable renewable energy sources.

As a result, the industrial world is intensifying competition to make ESSs a future growth engine. Companies are moving into various fields related to ESSs such as systems and lease.

The Ministry of Trade,...

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The more the government announced its regulations, the more investors have considered them favorable factors and expanded their investments in digital currencies.

Trials and Errors Continued

12 January 2018 - 9:45am
Yoon Yung Sil

As the Ministry of Justice (MOJ) decided to make a special law to shut down cryptocurrency exchanges on January 11, there has also been criticism inside and outside of exchanges that its move is like cutting off your nose to spite your face, stirring up a controversy. 

The government initially planned to close accounts in cryptocurrency exchanges after checking them. Instead, it has come up with the special law to close down cryptocurrency exchanges, which was prepared by the MOJ, as the final measure even after speculation in cryptocurrency trading within the country didn’t quiet...

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The United States and China, which are the biggest semiconductor consumers, are mounting pressure on Korea's semiconductor companies for their protectionism.

Stiff Challenges to 'Semiconductor Korea'

8 January 2018 - 10:30am
Cho Jin-young

South Korea's semiconductor companies with memory semiconductors achieved the highest performances in a super-cycle which began in earnest in 2017.

However, corporate customers' complaints spiked due to continuous hikes in prices of DRAMs and NAND flashes. In particular, Chinese smartphone makers such as Huawei and Oppo were reportedly very unsatisfied with the hikes as they had to stand small margins due to Apple's iPhone and Samsung’s Galaxy series. However, there was no way to stop the rise in prices of semiconductors because demand eclipsed supply.

Of late, some countries...

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the US Department of Commerce made an annual preliminary judgment to raise an anti-dumping duty on Hyundai Steel’s WLPs to 19.42 percent from 6.23 percent imposed in 2015.

All Encompassing Pressures

5 January 2018 - 10:30am
Jung Min-hee

The US is imposing high tariffs on Korean steelmakers from all directions. The US Congress laid the foundation in 2015 for such high tariffs by passing the Trade Preferences Extension Act (TPEA) which the US Department of Commerce could use adverse facts available (AFA) and particular market situations (PMSs). The AFA provision is a measure to impose anti-dumping and countervailing duties on accused companies as many disadvantageously as possible to the accused companies unless they hand in materials and data demanded by the US government. The PMS provision is a protective trade means that...

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The UAE’s unexpected largest ever investment in the South Korean stock market in Nov. is rumored to have a relation with presidential chief of staff Im’s visit to the UAE from December 9 to 12 and Defense Minister visit from November 1 to 3.

Unconvincing Investment

4 January 2018 - 10:30am
Yoon Yung Sil

As the United Arab Emirates (UAE) unexpectedly made a largest ever investment in the South Korean stock market in November last year, much attention has been given to what is behind it. The Middle East nation might have suddenly become attracted to domestic stocks. However, it is considered exceptional because there was a vast gap in the size of investments compared to its past ones and there was no large inflows of other Middle Eastern funds.

Stock market watchers said the timing coincided with a visit by South Korean Defense Minister Song Young-moo to the Middle East nation. Song...

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Almost all labor-management wage negotiations have been delayed since the inauguration of the Moon Jae-in administration.

Year’s Biggest Concern

4 January 2018 - 10:00am
Michael Herh

Since the inauguration of the Moon Jae-in administration, cases in which labor-management wage negotiations have been delayed or dramatically concluded after some difficulties have been on the rise. Hyundai Motor, Kia Motors, GM Korea and other automobile companies which had gone through difficulties in labor-management negotiations are sure to have extended negotiations in the New Year, continuing from last year. Hyundai Motors and GM Korea are expected to reach agreements in the New Year, continuing from the previous year for the first time in history.

Hyundai motor’s unionized 51...

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The number of employees at domestic venture firms stood at 764,000 and an average venture firm hired 22.9 staff.

Performances of Venture Firms

29 December 2017 - 11:00am
Yoon Yung Sil

The number of employees at local venture firms came to 764,000, which is almost the same with 769,395 posted by South Korea's six major conglomerates including Samsung Group.

According to the data compiled by the Ministry of SMEs and Startups and the Korea Venture Business Association on December 28, the number of employees at domestic venture firms stood at 764,000 and an average venture firm hired 22.9 staff. The data is based on a survey of 33,289 venture companies conducted last year.

The number of venture firms totaled 33,360 as of the end of last year....

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The Korean government plans to consider even shutting down the exchanges when a frenzy of speculation doesn’t subside.

Measures against Cryptocurrency Speculation

29 December 2017 - 9:30am
Yoon Yung Sil

The South Korean government will adopt a real-name financial transaction system on cryptocurrency exchanges by the end of January next year. It will also ban banks from providing virtual account services that are currently used for trading cryptocurrencies. Until the real-name financial transaction system is introduced, investors will be prohibited from making a new investment through cryptocurrency exchanges and making an additional investment. The government plans to consider even shutting down the exchanges when a frenzy of speculation doesn’t subside.

The government announced...

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There are growing concerns that semiconductor materials can be in short supply in 2019.

Shortage of Semiconductor Materials

28 December 2017 - 10:00am
Cho Jin-young

There are growing concerns that semiconductor materials can be in short supply in 2019 as major companies at home and abroad, such as Samsung Electronics Co. and SK Hynix Inc., are expanding their production facilities due to a boom in the semiconductor industry.

According to industry sources on December 27, many express concerns that semiconductor materials   can face supply shortages when the expansion of the second floor of the Samsung Pyeongtaek Line 1 and SK Hynix’s plants in Cheongju and Wuxi in China are completed and start operation in earnest in 2018 and 2019.

An...

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