In November, the nation was troubled by a sharp rise in the number of new influenza patients. It is high time to pay more attention to health and hygiene. We wish our readers and their families at home and abroad good health and ask them to take care during this epidemic.
In this issue, as seen on the cover story, we deal with changes in the Korean securities industry since the enforcement of the Capital Markets Consolidation Act (CMCA), as well as the strategies and financial products of major Korean securities firms, such as Samsung Securities, Mirae Asset and Korea Investment. Securities firms have rushed into customer banking and hybrid products, as well as changing their names for the purpose of adapting themselves to the Capital Markets Consolidation Act and establishing equity holding companies. We hope such changes contribute to making the Korean securities industry more competitive and investor-friendly.
Beginning in the second half of this year, the Korean car market became a hot battlefield with cool new vehicles being launched by both Korean and foreign automakers. Hyundai launched new Sonata and Tucson models to continue its No.1 position in the Korean market. Samsung Renault promoted its SM3 and SM5 models, while GM Daewoo unveiled the Matiz Creative. However, foreign automakers strengthened their efforts, too. Mercedes-Benz came up with its E-Class and S-Class line-ups, while Toyota officially launched its Camry and Prius models in the Korean market. Our readers can enjoy more on this in the Special Report section of this issue. On the other hand, the National Assembly of Korea ratified the Korea-India Comprehensive Economic Partnership Agreement (CEPA) during its plenary session on November 6. As a result, Korea and India will expand trade and other economic exchanges thanks to this new framework. In this context, BusinessKorea held an interview with the Indian ambassador to Korea as well as reported on the business activities of POSCO and Hyundai Motor in India and that of Tata Daewoo. In particular, Tata Daewoo, a subsidiary of India’s Tata Group, held a launching ceremony for its new premium truck “Prima” at the COEX in Seoul during September.
In addition, BusinessKorea conducted interviews with Kim Kook-hyun, Chairman of the Korea Local Finance Association (KLFA) and Nam In-suk, Administrator of the Korean Agency for Technology and Standards (KATS). The KLFA plays a pivotal role in helping local autonomy units maintain healthy financial structures through various activities and programs. Moreover, the KATS promotes pan-governmental standards policies.
This issue contains stories on the business performances of Korean companies during the third quarter, the 40th anniversary of Samsung Electronics, the planned merger among LG Telecom, LG Dacom and LG Powercomm and HanmiParsons’ new monorail project. In addition, our Local Development section covers the global education program of the Jeju Free International City Development Center (JDC) and the completion of Incheon Bridge.
We hope you enjoy this month’s issue. We promise to return our reader’s support and interest by publishing an enjoyable and high quality magazine.