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Tuesday, October 17, 2017

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Korea’s ICT exports in September of this year were the highest-ever monthly record of US$19.26 billion, posting a 32.6% increase year on year.

Record High Export Repeated

17 October 2017 - 2:00am
Jung Suk-yee

The Ministry of Science and ICT and the Ministry of Trade, Industry and Energy (MOTIE) announced on October 16 that Korea’s ICT exports in September of this year were the highest-ever monthly record of US$19.26 billion.

The previous record was US$17.48 billion set last month, in August. So the new record replaced the previous record only in a month.

September ICT exports increased 32.6% year on year. This percentage is the highest growth rate since April 2010 (33.3%). ICT export growth rates have grown at double-digit rates year on year for about one year -- 15.7% in March,...

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The Korean government denied the United States had asked Korea to abolish regulations on cloud computing services and include it as one of the agendas in a Korea-US FTA renegotiation.

Gov't Denial

17 October 2017 - 1:45am
Michael Herh

The Korean Ministry of Science and ICT explained on October 16 that it was not true that some local news outlets reported that the United States asked Korea to abolish regulations on cloud computing services and include it as one of the agendas in a Korea-US FTA renegotiation.

The reports came out based on some explanations by Choi Won-ho, officer for international cooperation of the ministry during a parliamentary inspection of the ministry on September 12.     

With reference to the reports on the US’s request to abolish the regulations, however, the ministry explained that...

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Consumer Reports recommended the “Samsung Chef Collection RF34H9960S4” model, calling it the best product among large refrigerators.

‘Best Buy’ Refrigerators

16 October 2017 - 4:15pm
Michael Herh

According to industry sources on October 16, Consumer Reports recently conducted a performance test on three-door and four-door French-door refrigerators of major home appliances companies, selecting “Top 3” products. Among them were four products of LG Electronics and Samsung Electronics. A French-door refrigerator is a three-door or four-door high-capacity premium refrigerator with its upper refrigeration part and lower freezing part.

In the three-door refrigerator category, LG Electronics' LFC24770ST model achieved the highest score in all three categories -- temperature control...

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A bird’s-eye view of LG home appliance factory in the state of Tennessee, the US.

Scope of Safeguard Targets

16 October 2017 - 4:15pm
Michael Herh

According to the electronics industry on October 15, the US International Trade Commission (ITC) will hold a public hearing on relief steps for import washing machines at its Washington office on October 19 (local time). It is said that the Korean government, Samsung Electronics and LG Electronics are expected to appeal to the ITC that the safeguard will raise prices of washing machines and ultimately cause US consumers to suffer damage finally.

The safeguard does not specifically apply only to Korean companies represented by Samsung Electronics and LG Electronics. However, with the...

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More than 60 percent of the market capitalization of companies listed on the Seoul bourse were taken up by the listed units of the nation’s top four business groups such as Samsung, Hyundai motors, SK and LG.

Led by Top 4

16 October 2017 - 3:30pm
Yoon Yung Sil

The market capitalization of companies listed on the South Korean stock market increased by more than 300 trillion won (US$266.15 billion) this year. However, over 60 percent of them were taken up by the listed units of the nation’s top four business groups.

According to Chaebol.com on October 16, the total market cap of 2,168 companies listed in the Korea Stock Exchange stood at 1,842.9 trillion won (US$1.64 trillion) as of the 13th, up 300.6 trillion won (US$266.77 billion), or 19.5 percent, from 1,542.3 trillion won (US$1.37 trillion) at the beginning of the year.

Out of...

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The war of nerves between the OLED camp led by LG Electronics and the QLED camp led by Samsung Electronics in the global TV market is more intense than you can imagine.

Expression of Sense of Crisis?

16 October 2017 - 3:30pm
Yoon Yung Sil

As Samsung Electronics recently uploaded a video claiming technical faults of organic light-emitting diode (OLED) display panels to YouTube, all eyes are on what the company’s intention is.

Considering the business practice that should not mention about competitors’ products when promoting one’s products, it is exceptional that Samsung carried out the “slander marketing” strategy that directly attacks the products of its competitors by spending a considerable amount of money.

According to industry sources on October 15, Samsung Electronics uploaded a 103-second-long video to...

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The Korean ETF market is the largest in Asia and the ninth-largest in the world in terms of the number of listed issues.

Skyrocketing Trading Value

16 October 2017 - 11:00am
Jung Suk-yee

The Korea Exchange announced on October 15 that the total net assets of ETFs in South Korea, which had stood at approximately 340 billion won (US$in the early stage of the local ETF market in 2002, reached 30.4 trillion won on October 10 this year.

The average daily trading value of the local ETF market skyrocketed from 32.8 billion won to 876.7 billion won during the same period. Likewise, the number of ETF accounts jumped from 10,000 or so to 406,000 and the number of listed issues increased from four to 303.

According to the Korea Exchange, the South Korean ETF market is...

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More than a half of short stock selling is traded by foreign financial firms in the South Korean stock market.

Short Stock Selling

16 October 2017 - 11:00am
Yoon Yung Sil

More than a half of short stock selling is traded by foreign financial firms in the South Korean stock market.

According to the data from National Assembly National Policy Committee member and the ruling Minju Party lawmaker Park Chan-dae submitted by the Financial Supervisory Service and the Korea Exchange on October 15, there was a total of 746,624 cases of short stock selling in the KOSPI market from June 30 last year to August 30 this year.

Out of these, 432,836 cases of short stock selling were traded by foreign investors, accounting for 58 percent of the total. The...

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Chinese internet business company Tencent will resume its investment in Korean content companies amid the Chinese government’s restriction on Korean products and services since the deployment of the THAAD in Korea.

Amid THADD Retaliation

16 October 2017 - 11:00am
Michael Herh

Chinese internet business company Tencent will resume its investment in Korean content companies with great growth potential. It is forecast that Tencent’s resumption of investment in Korean contents companies will give much-awaited time to take a breather to Korean contents companies that have not been unable to export to China due to the Chinese government’s restriction on Korean products and services since the deployment of the THAAD in Korea.

According to the contents industry on October 15, Tencent is currently discussing a project to foster and support Korea start-ups’...

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South Korean pharmaceutical and biotech companies are increasingly setting up branches, joint ventures and subsidiaries abroad.

Focusing on Localization

16 October 2017 - 10:45am
Choi Mun-hee

An increasing number of South Korean pharmaceutical and biotech companies are setting up branches, joint ventures and subsidiaries abroad.

Particularly successful examples include Hanmi Pharmaceutical’s Beijing Hanmi Pharmaceutical established in 1996 and Ilyang Pharmaceutical’s Yangzhou Ilyang Pharmaceutical established in 1998. These corporations have helped their parent companies expand their business in China by means of localized marketing.

Boryung Pharmaceutical set up an investment company in Hong Kong in March this year and a local subsidiary in Beijing in the...

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