[URGENT] Gov’t holds emergency meeting over Brexit worries

[THE INVESTOR] The Ministry of Strategy and Finance called an emergency meeting of economic and financial authorities on June 24 over growing concerns for the UK’s exit from the European Union.The meeting will be held at 2 p.m. in Seoul, and will bring together deputy chiefs of the Finance Ministry, Financial Services Commission, Financial Supervisory Service, Bank of Korea and the chief of the Korea Center for International Finance. Earlier in the day, economy-related government bodies held a c

June 24, 2016

[ANALYST REPORT] KAI: Ample momentum in store for 2H

We now believe KAI is highly likely to win the bid for both of the major projects set to determine its growth potential, i.e., the aircraft maintenance, repair, and overhaul (MRO) service project in Korea and the US Air Force‘s T-X project. We also expect marked HoH improvement in its new order intake in 2H16, given: 1) the scheduled receipts of new orders by both the defense and aircraft parts divisions; and 2) likely additional exports of finished aircraft. With KAI forecast to report relative

June 24, 2016

Korea revises down growth outlook to 2.8 percent

 [THE INVESTOR] Korea has cut its annual economic growth rate outlook in 2016 to 2.8 percent from the previous 3.1 percent, the government said on June 24.During a meeting with the ruling Saenuri Party, government policymakers said growth is expected to slow in the second half of 2016. “If the second-half economic policy plan is executed as expected, this year’s growth will decrease from initial 3 percent-level to around 2.8 percent,” a government policymaker said. Finance Minister Yoo Il-ho at

June 24, 2016