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Friday, October 20, 2017

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LG Display vice chairman Han Sang-beom is having a close look at devices of Samsung Display in the booth of the IMID held at COEX in Samsung-dong, Seoul on October 17.

On War of Nerves

18 October 2017 - 4:45pm
Cho Jin-young

Shortly after the opening ceremony of the Korea Electronics Show (KES) held at COEX in Seoul, Seoul on October 17, Han Sang-beom, vice chairman of LG Display met reporters and was asked the question of “What do you think about a continuing war of nerves regarding TV screen quality with competitors. “We have a constructive rivalry with Samsung Display. So there is no reason to slander each other," Han said.

Vice chairman Han visited the LG display Booth at Display Exhibition Show and the booth of competitor Samsung Display. On...

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US-based electric car company Tesla recently presented a written opinion against the ITC's safeguard investigation into import solar cells and modules.

Negative Impact on Business

18 October 2017 - 4:45pm
Michael Herh

According to the US International Trade Commission (ITC) on October 17, US electric car company Tesla recently filed an objection against the ITC's safeguard investigation into import solar cells and modules.

Tesla took over and merged with SolarCity last year, tapping into the solar panel installation business, and importing necessary solar cells and modules. If import solar panel prices rise due to import regulations such as antidumping duties by the safeguard, Tesla's business operation costs have no choice but to rise.

Import restrictions by the safeguard can have a...

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A view of Samsung Display Asan Campus.

OLED Production

18 October 2017 - 3:45pm
Cho Jin-young

According to the industry on October 17, Samsung Display is mulling over whether the company will make investment for production of 30,000 units or 60,000 units a month as the first facility investment in the new factory A5 in the Tangjeong Industrial Complex in Asan. Although the outline of the entire investment size was roughly decided in the first half of this year, the plan was influenced by competitors’ turnarounds in the second half.

It is said that Samsung Display will make its first facility investment in A5 Factory in December. The display giant is likely to make the first...

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Plant of GM Korea located in Gunsan City, North Jeolla Province

GM Korea’s Restructuring

18 October 2017 - 3:30pm
Jung Min-hee

GM is expected to dispose of the Gunsan Plant of GM Korea as one of the veto rights of the Korea Development Bank, which has 17.02% of GM Korea, expired on October 16 and GM now can dispose of more than 20% of the total assets of GM Korea at will.

Put into operation two decades ago, the Gunsan Plant of GM Korea has an annual production capacity of 270,000 vehicles along with an area of 1,290,000 square meters. The plant, however, is currently underutilized with GM having withdrawn from the European market and the automobile sales in South Korea remaining sluggish. Specifically, its...

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The plant of China-Korea Petrochemical, the joint venture formed by SK Global Chemical and China Petroleum & Chemical Corp. (Sinopec), the largest petrochemical company in China.

‘China Insider’ Strategy

18 October 2017 - 1:00pm
Jung Min-hee

SK Innovation Co., South Korea's top oil refiner, announced on October 17 that China-Korea Petrochemical, the joint venture formed by its affiliate SK Global Chemical Co. and China Petroleum & Chemical Corp. (Sinopec), the largest petrochemical company in China, have decided to invest 740 billion won (US$653.42 million) to boost its production capacity by 40 percent.

However, the latest investment will be made with profits created by China-Korea Petrochemical, not the direct investment from SK Global Chemical and Sinopec.

With the expansion, the Sinopec-SK Wuhan...

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Domestic equity funds showed a minus 0.13 percent return in the third quarter while the net asset of funds was up 1.46 trillion won (US$1.29 billion) from the previous quarter.

Fund Earnings Rate

18 October 2017 - 12:45pm
Yoon Yung Sil

According to a “2017 Q3 fund evaluation report” released by market data provider FnGuide on October 13, domestic equity funds showed a minus 0.13 percent return in the third quarter. However, the net asset of funds, including exchange-traded fund (ETF), stood at 41.1 trillion won (US$36.37 billion), up 1.46 trillion won (US$1.29 billion) from the previous quarter.

The fall in the price of small and medium-capitalization stocks turned the rate of returns into a negative. The earnings rate of active small and medium-capitalization equity funds in the third quarter was minus 2.86...

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The Ministry of Oceans and Fisheries (MOF) of Korea will sign an agreement to join the Asia Cruise Cooperation (ACC) as a representative of South Korea’s ports of call.

For Lowering Reliance on China

18 October 2017 - 12:45pm
Yoon Yung Sil

The South Korean government is to establish a cruise alliance with Southeast Asian countries to diversify the domestic cruise market.

The Ministry of Oceans and Fisheries (MOF) announced on October 17 that it will sign an agreement to join the Asia Cruise Cooperation (ACC) as a representative of South Korea’s ports of call at Busan Port International Passenger Terminal in Busan on the 20th.

The ACC was launched by major Asian countries, such as Taiwan, Hong Kong and the Philippines, in July 2014 to boost cruise tourism...

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The total exports from South Korea increased 16.4% year on year to US$375.1 billion during the same period.

More than 16% Increase

18 October 2017 - 12:30pm
Jung Suk-yee

The Ministry of Trade, Industry & Energy analyzed WTO data and announced on October 17 that the global total commodity exports added up to US$10.5 trillion, up 9% from a year ago, for the first eight months of this year and the total exports from South Korea increased 16.4% year on year to US$375.1 billion during the same period.

The rate of increase in the exports from South Korea was the highest in the world during the period. It was followed by the Netherlands (12%), Japan (8.3%), Hong Kong (8.2%) and China (7.6%).

As a result, South Korea became the sixth-largest...

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Bullish Global Market Pushes up Korea’s ELS Issuance by 15%

ELS Issuance

18 October 2017 - 12:30pm
Yoon Yung Sil

According to the Korea Securities Depository (KSD) on October 17, South Korea's issuance of equity-linked securities (ELS) stood at 18.12 trillion won (US$16.03 billion) in the third quarter this year due to a bullish global stock market, up 15.1 percent from the previous quarter.

By type, the issuance by public offering increased 22.7 percent to 13.93 trillion won (US$12.32 billion) compared to the previous quarter, accounting for 76.9 percent of the total, while that by private offering decreased 4.6 percent to 4.19 trillion won (US$3.7 billion), making up the remaining 23.1...

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Chinese companies such as BOE and CSOT are expected to make an investment in Japan Display that is about to manufacture OLED panels.

Threat to Korean OLEDs

18 October 2017 - 11:30am
Cho Jin-young

The Japan-based Nihon Keizai Shimbun reported that JOLED, which is in charge of OLED panel development and manufacturing in Japan Display Inc., is about to manufacture OLED panels and Chinese companies such as BOE and CSOT are expected to make an investment in the process.

“Japan Display is aiming to rebuild itself with OLED,” the newspaper reported, adding, “The company is planning to invest 200 billion yen in the manufacturing of OLED panels for use in smartphones and multiple Chinese companies have expressed their will to...

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