South Korea's exports worse than forecast in July

Silverthorn

Silverthorn

Well-Known Member
as per title.

SEOUL--South Korea's exports shrank for a 19th straight month in July, with the pace of decline picking up again after moderating for two months, according to the Ministry of Trade, Industries and Energy.

The worse-than-expected July data damped market hopes that the export-led economy may be on track for recovery, reaffirming it still faces strong headwinds amid sluggish global trade.
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http://www.marketwatch.com/story/south-koreas-exports-worse-than-forecast-in-july-2016-07-31
 
South Korea is struggling against it's devaluing neighbours, not that they haven't been devaluing themselves through rate cuts. Need to lob more grenades in the currency wars or lob more grenades at North Korea
 
Hanjin shipping officially bust.

they have serious problems now. worlds 7th largest container mover and banks don't want to help them anymore.
Going to be interesting, we've got one of their vessels due in this weekend, they're going to want to hope the wharf is accommodating.
 
Hanjin shipping even their fully owned subsidiaries won't lend them money.

If you are bank and you can't smell that something is up than well what .... Incompetence?

I guess it's like trump bankrupting a division while having a successful seperate companies.

With less shipping required some have to go belly up.
 
It seems Hanjin has won.

http://www.bbc.com/news/business-37283338

South Korea's government has said it might provide Hanjin with loans to keep the bankrupt shipping giant afloat.
Officials said Seoul could give 100bn won ($91m; 68m) or more in long-term funding at low interest rates if Hanjin provided the necessary collateral.
The shipping company's shares rose more than 20% on the news of a lifeline.
Hanjin's collapse has left much of its fleet stranded at sea, unable to dock over fears that vessels be seized by creditors.
Parent company Hanjin Group on Tuesday also said it would inject $90m in fresh funds to resolve the disruptions to the cargo transport currently stuck at sea.
Hanjin Group is a huge, family-dominated conglomerate and also includes Korean Air.
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So a game of chicken, It is the Year of Chicken after all.
 
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