LA LETTRE DU KOTRA Novembre 2002
Centre Coréen du Commerce Extérieur et des Investissements
http://www.kotraparis.com
KOTRA PARIS - 36, avenue Hoche - 75008 Paris Téléphone : +33 (0) 142 25 09 57 - Télécopie : +33 (0) 142 25 09 50 - email : fckotra@hotmail.com M. Seong-Kuk Hong - Directeur Adjoint M. Frédéric Claveau - Responsable Investissements
S O M M A I R E
¤ RELATIONS INTERNATIONALES ET BILATÉRALES
Corée - Japon La France sur les rangs pour de gros contrats
¤ POLITIQUE ECONOMIQUE, MACRO-ECONOMIE ET RESTRUCTURATIONS
Korea poised to become financial center in N.E. Asia
¤ INVESTISSEMENTS
Réaliser des investissements (…) en Corée Some thoughts on foreign investment
¤ SECTEURS ECONOMIQUES
- Banque et finance Corée : explosion des transactions bancaires en ligne IMF urges South Korea to sell Chohung Bank Foreign insurers expand market share in Korea Technologies de l'information La Corée du Sud passe au très haut débit Investment Key to Coping With IT Downturn - Télécommunications SK Telecom lance en Corée un nouveau service de téléphonie mobile Services : marques de mode, bricolage Les marques de mode ont du mal à vivre longtemps La fièvre du bricolage gagne la Corée - Electronique, industrie high-tech Le secteur électronique Optique : coup d'œil sur les importations Korea to push for nanotech project - Agroalimentaire Entreprises agroalimentaires en Corée - Transport : automobiles, transports publics, aérien GM Daewoo lance un nouveau modèle Subway between Gwangmyeong, Yeouido to be completed in 2011 Plan to construct subway line under Assembly green-lighted Corée du Sud : Un constructeur aéronautique tchèque entre sur le marché - BTP, industrie manufacturière La Corée du Sud va construire 5 millions de logements Gov't to invest 400 billion in parts/materials sector
¤ ENTREPRISES COREENNES
Hyundai prospecte en Tunisie Hyundai gagne un contrat d'une société grecque L'agonie d'Hynix Semiconductors se poursuit Hanaro to Raise $1.4 Billion Overseas Siemens to set up joint venture with Prosonic
¤ ENTREPRISES FRANÇAISES
Inauguration du TGV coréen : un tremplin pour les entreprises françaises Français et américains se disputent la commande d'un satellite en Corée du Sud BNP Paribas Peregrine opens local brokerage unit in Korea La société Faros remporte un appel d'offre de la marine coréenne Pasteur Institute likely to set up shop in Korea
- COREE - JAPON LA FRANCE SUR LES RANGS POUR DE GROS CONTRATS
En visite au Japon et en Corée du 11 au 14 novembre, François Loos a tenté de convaincre ces pays de l'attractivité de notre économie. Il a aussi appelé la Corée à respecter une objectivité totale dans ses marchés internationaux, notamment à l'occasion de l'appel d'offres d'un nouveau satellite pour lequel la France est sur les rangs.
- Etes-vous satisfait de ce premier voyage en Asie ?
François Loos. Je suis revenu convaincu que, pour contrebalancer l'axe Etats-Unis-Asie, il faut créer un axe Europe-Asie. Au Japon, la France doit mobiliser ses PME, et nos grandes entreprises qui s'y trouvent déjà doivent les y aider. En Corée, il faut également décrocher quelques gros contrats. C'est ce que j'ai essayé de faire pendant ma visite.
- Quels contrats êtes-vous allé défendre ?
La direction du groupe japonais Sharp projette d'ici à l'an prochain d'ouvrir en Europe une unité de production de cellules photovoltaïques. Elle hésite entre un site britannique et un site français, à Soultz (en Alsace), où elle possède déjà une usine de photocopieurs. Il s'agira d'un projet de 16 M€ qui devrait entraîner la création de cent emplois. L'assouplissement récent des 35 heures et la loi sur les licenciements pourraient convaincre le groupe.
- En Corée, vous êtes allé défendre deux projets importants...
Effectivement. En téléphonie mobile tout d'abord, puisque Korean Telecom, une des principales entreprises de téléphonie fixe, mobile et Internet du pays, veut acheter une licence UMTS, un secteur où la France est très présente. Et puis surtout, les Coréens sont sur le point d'acquérir un satellite qui s'appellera KoreaSat-5, qui représente un marché de 200 millions de dollars. Deux entreprises françaises sont sur les rangs, Alcatel Astrium et EADS, ainsi qu'un groupe américain, Lockheed-Martin.
- Les Coréens vous ont-ils entendu ?
Les relations entre la France et la Corée ont toujours été émaillées de grands contrats portant, par exemple, sur des Airbus ou le TGV. J'ai fait comprendre au ministre des Informations et de la Communication coréen que les preuves de la compétence technologique de la France n'étaient plus à faire. - Source : Le Parisien.com - 18/11/2002
- KOREA POISED TO BECOME FINANCIAL CENTER IN N.E. ASIA
Following is an excerpt of the executive summary of "Korea As an International Financial Center: Vision and Strategy," a report unveiled Tuesday by Seoul Financial Forum, a nongovernmental organization of 35 top finance experts studying ways to make Korea the financial hub of Northeast Asia. - Ed.
The combined impacts of globalization, improved communications, and increased sophistication of financial know-how in developed countries have driven new activities as well as new opportunities in the global financial and capital markets.
Over the past two decades there has been a race among countries and cities around the world to exploit the new environment and its opportunities by becoming leading financial centers in their respective countries and regions.
Competitors in this race include not only obvious examples like London, New York, Hong Kong and Singapore, but also more surprising participants such as Frankfurt, Dublin, Charlotte and Luxembourg.
Paradigm shift
Recent global changes provide opportunities for new participants. London and New York have been enjoying these benefits for many years as the world's two major financial centers, but their "monopolistic" positions are not likely to be sustainable in the future. They will increasingly need to enter into partnerships with other regional players, as well as with centers specializing in particular products or services.
The paradigm for the development of financial centers is changing from a simple model with a few concentrated centers into a more complex model with many participants networked together into a global web of international financial centers.
This shift provides significant opportunities for new entrants to participate in the development of the new global financial web.
No Financial center in Northeast Asia
As yet there is no international financial center in Northeast Asia. With the failure of Tokyo to rise beyond the role of a domestic financial center over the last two decades, Northeast Asia currently lacks a strong international financial center to serve the needs of the region.
Hong Kong has played a significant role in Asia historically because of its close ties to London and its well-developed financial infrastructure; but it is positioned closer to Southeast Asia than Northeast Asia and will gradually become more compromised and distracted by the difficulties inherent with integration into the mainstream Chinese political and economic systems.
Singapore has taken huge steps over the last decade to develop its financial infrastructure, but it is even further to the south than Hong Kong and has a smaller domestic base to leverage off than Korea.
With the emergence of a robust regional economy in North-East Asia increasingly led by China and Korea, it is inevitable for a new international financial center to emerge that can serve the needs of the whole region. Shanghai is clearly a major contender in this process.
Vision for Korea as financial center
The vision for Korea to become an international financial center in Northeast Asia is powerful and compelling.
Under this vision, Korea will develop over the next 5-10 years into a financial center with the following characteristics:
¡¤ Regional financial intermediation: Korea's financial markets will expand from their current roles limited to domestic intermediation into an active participant across the region.
¡¤ Asset gathering and asset allocation: Financial institutions based in Korea will be active in gathering and allocating financial assets within the region as well as providing a conduit to and from global financial markets outside the region.
¡¤ Asset trading and market making: Financial intermediaries in Korea will actively trade in a wide range of different types of financial assets and will create markets in a broad range of listed instruments, providing the abundant liquidity that is essential for successful capital markets.
¡¤ Integrated into the global network: Korea's financial markets and intermediaries will be deeply integrated into the evolving global network by developing connections with other financial centers and intermediaries around the world.
¡¤ Focused on value creation: The guiding principle for Korea's financial markets will be to create value for investors by actively seeking investment opportunities with sound fundamentals.
¡¤ "Best place to do business in Asia": Korea will have created a business and social environment that makes it one of the best places to conduct business in Asia.
¡¤ Think "London": In developing into an international financial center with these characteristics, Korea should be seeking to emulate the model provided by London as an efficient facilitator of international financial transactions. As has been well illustrated in the Main Report, London ranks high in nearly all dimensions of the global financial market. The London model is also appropriate for Korea because Korea will have a huge "hinterland" market to serve.
Core strategies
The key components and hallmarks of the strategy to implement Korea's vision to become an international financial center are:
¡¤ Network to other financial centers: Develop strong, intimate, successful connections and relationships with other significant financial centers across the region and around the world.
¡¤ Multi-currency markets: Allow financial markets to be denominated in a wide range of international currencies.
¡¤ Domestic and international users: Attract domestic and international capital users who have sound business models and are prepared to meet high standards of financial integrity.
¡¤ Domestic and international capital providers: Attract domestic and international capital providers, based on trust, efficiency and procedural simplicity.
¡¤ Domestic and international buyers and traders: Attract domestic and international buyers, traders and specialists to create an active, liquid, and highly diversified market.
¡¤ World-class skills: Ensure that the best world-class financial, business, accounting and legal skills are readily available in the Korean market.
¡¤ Innovation and creativity: Provide an environment that fosters innovation and creativity with minimum risk.
¡¤ Discipline and integrity: Ensure strong discipline and integrity based on the highest professional standards.
¡¤ Transparent and predictable: Require transparency and provide predictability through regulatory reforms and effective supervision.
¡¤ Low friction and high efficiency: Continue to reduce "frictions" due to the institutional arrangements and promote high efficiency in all aspects of financial transactions.
Challenges in economic area
Within the economic area there are five major policy challenges to meet in order for Korea to become an international financial center.
¡¤ Changing the role of government: The role of government must be changed from that of being a leader in all industrial and financial development that has been inherited from the days of government-led economic development to that of the facilitator required under the current economic environment. This is vital for Korea to complete the transition to the market-based economy. However, the government should continue to provide "public goods" such as primary education, public health and effective law enforcement.
¡¤ Completing the restructuring of the corporate and financial sectors: Financial and corporate sector reforms have made great progress since the financial crisis of 1997, but much hard work still remains to be completed before the legacies of the government-led economic development can be cleared away and Korean corporations and financial institutions can fully operate on world-class standards.
¡¤ Making a paradigm shift in regulation and supervision: Reform of financial regulation has made notable progress, but unnecessary regulations continue to create frictions in the financial system, as regulatory supervision is often unpredictable and ineffective for achieving the intended results.Regulations need to be simplified, and supervisory practices made more transparent. In addition, closer interaction is required between regulators and the industry so as to minimize ambiguities in the interpretation of regulations.
¡¤ Improving flexibility in labor markets: Domestic labor-market inflexibility is still the single biggest concern of foreign CEOs in contemplating the establishment of a business presence in Korea. This inflexibility is in large measure responsible for low labor productivity, compared to other OECD countries. The problem of inflexibility is particularly acute in the financial sector, where Korea is almost unique in having unionized employees.
¡¤ Reform and improvement of income taxes: Korea's tax system is not efficient compared to its competitors in the region.Not only are corporate tax rates in Korea higher than for its regional competitors such as Hong Kong and Singapore, but also the definition of the taxable income is also much broader.
And high marginal tax rates on personal income and the subjecting of income earned elsewhere to Korean taxation discourages talented foreign individuals and their companies from doing business in Korea, and encourages domestic individuals to hide and distort personal income.
One important consequence is a huge increase in complexity and distortion that ultimately costs society far more than the taxes involved.
Korea's overall tax system needs to be streamlined and simplified to reduce unnecessary frictions, complexities and uncertainties for financial transactions and international financial intermediaries. Serious consideration should be given to eliminating as many taxes as possible in relation to financial transactions as they increase the cost of capital and reduce the attractiveness to international financial intermediaries.
Challenges in non-economic area
In the non-economic field, there are four major policy challenges to meet in order for Korea to become an international financial center.
¡¤ Strengthening of the legal services industry: In terms of its sophistication required to support a world-class international financial center, the legal service industry in Korea leaves much to be desired. Thus, this industry must be strengthened. One way to achieve this will be to open the legal services market to international competition. This will also increase new skills available and help upgrade the regulatory framework.
¡¤ Improving immigration policy: In order to secure sufficient numbers of professionals and talents in the financial sector, it will not be enough for Korea to rely only on domestic education and training programs. This will be especially true in the early phase of the efforts to develop Korea into an international financial center. One effective way to meet this requirement for high quality manpower in the financial sector will be to reform Korea's current immigration policy. In recent months steps have been taken to streamline the application process for visas for foreign professionals who want to stay in Korea for longer terms. These steps, however, are by no means sufficient to meet the growing need for services provided by foreign professionals.
¡¤ Improving living environment: The living environment in Korea is still severely underdeveloped for attracting highly-skilled foreigners, particularly in the areas of traffic congestion, air pollution, high cost of housing, children's education, limited English language usage, and limited recreational and cultural opportunities including local tourism. Seoul currently ranks 14th out of 40 Asian cities as a place to do business due to poor living environment. Improvements in these areas will also dramatically improve the quality of life for all Korean people.
¡¤ Further relaxation of tension between North Korea and South Korea: Tension between North Korea and South Korea has been reduced significantly in recent years. Nonetheless, the relationship between the two Koreas remains as a cause of concern to foreign participants. Continued efforts to achieve further relaxation of tensions are vital to improve the business environment in Korea.
Concerted national action
Korea must undertake concerted national action to implement the core strategies with a view to achieving the vision over the next 10 years. Nearly all successful international financial centers are the result of an inspiring vision and concerted national efforts by both the private and public sectors. It will not be easy to overcome the hurdles and successfully implement the key strategies that are needed to realize the vision of Korea as an international financial center. Much work will need to be done on a variety of fronts and in a systemic and coordinated manner by the entire nation. The work plans to implement this vision should be thoughtfully designed, based on three principles:
¡¤ The government should make a long-term commitment and provide non-partisan support;
¡¤ The government should work in genuine partnership with the private sector to develop and implement the vision;
¡¤ The work should be broken down into modules, and separate working groups should be set up to develop detailed plans on the following: - debt markets ; - equity markets ; - foreign exchange markets ; -derivatives markets ; - financial intermediaries ; - transaction infrastructure ; - accounting- professional ; tandards ; - regulatory and supervisory system ; - legal services market ; - taxation ; - immigration and visas ; - labor ; - living environment.
Phased approach
Accomplishing a task as challenging as this is like climbing a high mountain - it cannot be accomplished in one leap. To be successful, the work should be carried out in somewhat overlapping "waves," altogether lasting 8-10 years. The first two waves should occur over the next 4 years:
Wave 1 (2003): Completing the basics
¡¤ Remove most of the policy barriers noted above.
¡¤ Continue improving the living environment and social infrastructure.
¡¤ Establish the fundamental prerequisite of a bond market yield curve by broadening and deepening the issuance of true benchmark government bonds across a range of maturities from 90 days to 30 years.
¡¤ Complete the basic development of the vision and supporting strategies. This will be assisted by refining the end game vision and targets, and understanding for each module the gaps between where we want to be and where we are.
¡¤ This exercise must then be followed by the development of specific recommendations and tactics to close these gaps.
Wave 2 (2003-2005): Building regional champions
¡¤ Expansion of the existing role of domestic markets into international ones.
¡¤ Building regional champions by engaging foreign and domestic institutions to serve as prototypes to test out and develop early models of success in each of the key modules. This will further assist in identifying problems and opportunities that must be addressed.
¡¤ Restructuring the regulatory and supervisory system to match the intended philosophy and paradigm shift.
¡¤ Strengthening the accounting practices and professional standards to world-class.
¡¤ Opening of the legal services market.
Wave 3 (2004-2008): Broaden-ing and deepening the markets
Starting after the completion of Wave 1, this would involve opening the existing markets to international issuers. For example, the bond market would be opened to non-Korean governments and foreign corporations who satisfy world-class accounting and corporate governance criteria.
Wave 4 (2006-2010): Consolidating leadership
Following the completion of Wave 2, this wave would seek to further upgrade the functioning of the markets, ensure that all remaining barriers are removed, and aggressively attract foreign participants of all types to consolidate Korea's leadership position in the region.
Presidential commission
Korea should appoint a Presidential Commission with power and authority to implement the vision. Time is of the essence. In order to launch concerted national efforts at the earliest possible time, and to ensure a close partnership between government and the private sector, the new administration coming into power in February 2003 must appoint a Presidential Commission within one month of inauguration, composed of both high level policy makers in government and leaders and experts in the private sector, with enough power and authority to drive the whole process leading to the establishment an international financial center in Korea.
An intensive "waved" work program should be launched within the first 3 months of the next administration.
Korea is in a good position to capture a strategic position in the global financial market over the next 10 years. The removal of existing barriers combined with focused, determined pursuit of the core strategies over the next 5-10 years will enable Korea to secure a strategic position in international financial markets.
This in turn will greatly strengthen the competitiveness of Korea's financial and corporate sectors. This will enable Korea to compete successfully on the world stage in all areas of business endeavor and will give the Korean economy greater resilience to withstand external shocks. As Korea begins to assume the role of regional financial center in Northeast Asia, it will truly become a regional business hub in every sense of the word.
In addition, it will be able to take many initiatives to accelerate regional development, enhancing its status and influence to achieve peace and prosperity in the entire region. As Korea more effectively mobilizes savings and more efficiently allocates investment, its economic dynamism will continue, raising its per capita GDP above the $20,000 level over the coming ten years. In short, by playing the role of an international financial center, Korea will open a new chapter in its history for the new millennium. Source : Korea Herald - 21/11/202
- REALISER DES INVESTISSEMENTS (…) EN COREE
(…) la Corée est un pays qui offre des possibilités d'expansion extraordinaires pour une entreprise exportatrice européenne. Mais, pour obtenir un résultat optimal, les exportateurs doivent être capables de bien comprendre la culture d'entreprise de ces pays qui est relativement différente de la nôtre.
Si vous êtes déjà présent sur ce marché ou si vous projetez sérieusement de vous y implanter, la Commission européenne vous propose d'inscrire un candidat à l'un de ses programmes : Executive Training Programme - Corée.
Ce programme, d'une durée neuf mois en Corée, permet aux participants de se familiariser avec la nature complexe du monde des affaires de ce pays, et ce par l'organisation de cours de langues, de séminaires professionnels et de périodes de stage dans des entreprises coréennes.
Au terme de ce programme intensif, votre société profitera de l'immersion totale de votre cadre et de sa connaissance approfondie du pays, de sa langue et de ses pratiques commerciales. Il s'agit là d'un atout incontestable pour le renforcement de votre présence sur le marché coréen - Source : http://www.etp.org/zr/fra/investissements.htm
- SOME THOUGHTS ON FOREIGN INVESTMENT
The continued influx of foreign direct investment (FDI) through diverse deregulatory measures initiated by the Korean government can be viewed as a success story given present market conditions. Except for certain key industries, foreign companies now are allowed to conduct business in almost every sector of the Korean economy. The list of favorable investment conditions offered by Korea includes its large market, strong manufacturing base, and highly educated and skilled personnel.
Besides these factors, many Korean companies were sold off at bargain prices as a result of the drastic depreciation of the Korean won in the wake of the financial crisis of 1997. Thus, international investors were able to profit from the Asian financial crisis, while Korea has benefited from the positive effects of the enormous FDI inflows over the last several years.
However, despite this positive balance of investment inflows, there is a growing fear that some major investments will be diverted from Korea to China, among other countries, in the coming years. Hence, in order to counter an outflow of investment, there is still some groundwork to be laid in order to provide potential investors with an attractive business environment and favorable conditions.
First, the dearth of facilities that enable foreign residents to enjoy a comfortable life in Korea, such as educational and medical centers, is perhaps the most pressing issue. At the very least, existing residential surroundings should be improved to a level where the families of foreign investors face no real inconveniences living in Korea.
There is also a lack of common cultural ground, where foreigners can meet and interact with other and also with their Korean neighbors. Although Koreans are generally friendly to foreigners, some have the tendency to show reservations toward people from other cultural backgrounds. However, an open attitude toward embracing foreigners and the provision of appropriate living conditions are crucial factors that will help attract long-term foreign investment.
Second, calls for complete deregulation of Korea's foreign exchange laws have been getting louder in recent days. Although the Korean government has undertaken several deregulatory measures, many are requesting complete abolishment of all foreign exchange regulations.
Such demands, however, have given rise to many concerns on the part of the Korean government. The actual cases of South America and other parts of the world show that a complete removal of restrictions on foreign exchange can lead to negative effects on the national economy. Although a certain amount of regulatory relaxation is inevitable, an increase in transparency of transactions may be the best way to help avoid capital flight. As such, in today's era of globalization, any foreign exchange fluctuations ideally should follow the dictates of the market. If market forces are obeyed and appropriately managed, the foreign exchange business could act as a major boost to the Korean economy.
In addition, foreign financial institutions such as banks and securities companies can play a major role in helping raise Korea's national credit rating through the creation of a stable and secure financial market. Therefore, means to facilitate long-term sojourn of these institutions in Korea would be for the country's own good.
Third, a lack of labor market flexibility is giving companies a hard time conducting their business activities smoothly. The traditional concept of lifetime employment is being put to the test, but the social welfare system is still unable to meet the new requirements and standards of Korea's new working structure and culture through a secure pension system. For this reason, a clash between labor unions and industries cannot be avoided for the time being.
There have been improvements, however, such as the five-day workweek and annual compensation scheme proposals drawn up in line with the practices of many advanced countries. But until the proposals are fully implemented, labor-management relations are expected to remain tense.
Finally, we must always be mindful that targeting Korean nationals residing abroad and giving them incentives to invest in their home country is another avenue through which significant foreign investment can be secured. Most of all, we must not lose sight of the necessity to create an environment that makes Korea a convenient and friendly place for foreign residents to stay for long periods of time.
The writer is a home doctor at the Office of the Investment Ombudsman specializing in financial affairs. He can be contacted at ysahn@kotra.or.kr. - Ed. By Ahn Young-sub - Source : Korea Herald - 20/11/20020
- COREE : EXPLOSION DES TRANSACTIONS BANCAIRES EN LIGNE
Les transactions bancaires en ligne croissent de façon explosive en Corée du Sud. En trois mois, selon les chiffres publiés par la Bank of Korea, les Coréens ayant effectué des transactions bancaires via Internet sont passés de 14,5 millions (fin mai 2002) à près de 17 millions (fin septembre 2002) ; soit une croissance trimestrielle de plus de 17%!
Le nombre total des transactions bancaires en ligne effectuées en Corée du Sud s'élève à 163,24 millions. Celles-ci comptent déjà pour 18,3 % du total des transactions bancaires effectuées dans le pays.
Ces chiffres révèlent ainsi la rapidité et la force de l'impact d'Internet dans les services bancaires coréens : 14,1% d'entre eux sont désormais issus des transactions bancaires effectuées sur le Réseau. - Source : Atelier groupe BNP Paribas - 05/11/2002
- IMF URGES SOUTH KOREA TO SELL CHOHUNG BANK
SEOUL - The International Monetary Fund's (IMF) resident representative Paul Gruenwald urged the Seoul government to press ahead with the reprivatization of Chohung Bank while conditions are favorable.
Speaking to reporters at the Ministry of Finance and Economy, the official stressed the time was ideal for the government to dispose of part or all of its stake in Chohung because there was strong demand by domestic and foreign concerns.
He added there was no guarantee this window of opportunity will remain open next year. "The government should move ahead and not be deterred by political or other considerations," Gruenwald said.
In addition, the representative said moving ahead on this important aspect of economic reform will further bolster investor confidence in South Korea and improve the strong foundation for future growth for the country.
The IMF official said the world body strongly supported the government's current efforts to push forward with its reprivatization efforts in the financial sector. - Source : Asia Pulse/Yonhap - 22/11/2002
- FOREIGN INSURERS EXPAND MARKET SHARE IN KOREA
The nation's life insurers have recently begun facing a double threat: lingering economic uncertainty, and aggressive marketing by foreign rivals.
Foreigners extended their market share here to 10.4 percent in the first half of this year, more than 10-fold growth from 1 percent in 1998, according to industry sources.
Dutch insurer ING Life has steadily eaten into the local market to push up its share to 2.1 percent from 1.4 percent last year.
United States-based Prudential, armed with its flagship product of whole life insurance, also increased its market share, from 0.8 to 1.2 percent.
In contrast, domestic firms saw their market shares erode drastically.
Kobyo Life's share dropped from 18.4 percent to 17 percent on a yearly basis, while Hungkuk Life's share dropped 0.4 percent to 2.4.
"Foreign insurance companies are expanding the number of their sales branches and staff, while locals are more cautious about long-term investments, " said Jang Ryang, a press official from the Korea Life Insurance Association.
He expected foreigners to make inroads into the market at an even faster pace, once the so-called "bancassurance"(joint marketing by bankers and insurers) is introduced here next August.
ING is reportedly in talks with Kookmin Bank, the nation's biggest lender by assets, while Cadif Life, a French firm specializing in bancassurance, has already signed a deal with Shinhan Bank.
Germany's Allianz has chosen Hana Bank, which is to merge with Seoul Bank next month, as its partner.
Market experts say that even the non-life insurance industry will soon face foreign competition armed with advanced services and know-how. - Source : Korea Times (2002.11.24)
- INVESTMENT KEY TO COPING WITH IT DOWNTURN By Kim Deok-hyun
German software giant SAP co-chairman and chief executive officer Henning Kargerman said companies should focus on strategic investment despite a downturn in the global information-technology (IT) sector.
In a press meeting held in Seoul's Shilla Hotel, the head of Europe's leading e-business solution provider said the fundamental shift to an information centric economy has not ceased and companies must increase their investment to combine information with intangible assets such as human resources, brands and customer relationships.
Many newspaper reports have pointed out a downturn in the information-technology (IT) industry worldwide, he said. ``But, companies must turn their eyes to strategic investment for future growth,'' Kargermann said.
``The business environment is less predictable than ever and many companies are focusing on more conservative business value,'' he said.
``South Korea is a key market for SAP and around 300 customers in the nation run our e-business software,'' Kargermann said. ``We will continue to work with the Korean market.''
``In this age of uncertainty, the most important thing is a transparency in information sharing,'' he said.
According to a recent report released by the Ministry of Commerce, Industry and Energy (MOCIE), a half of locally listed companies are not equipped with enterprise resource planning software.
Among the 1,494 companies listed on both the main and Kosdaq stock market, 56.1 percent or 838 companies responded they hadn't established e-business solutions.
Many companies answered they decided not to adopt ERP solutions because it was not related with their work environment and too expensive.
The survey found that foreign e-business solution companies such as SAP and Oracle were losing market share, hit by competition with local companies like Samsung SDS and K-systems.
Henning Kargermann, who has earned doctoral degrees in both Physics and Mathematics, has been serving as co-chairman and CEO of SAP since 1998, the company said.
Last year, SAP, which employees 27,800 people worldwide, posted a 23 percent increase in sales to 6.2 billion euros or 7.3 trillion won, it said.
Meanwhile, Han Ui-nyung, who formerly worked for local e-business solution company PriseTech, was named a president of SAP's Korean unit. - Source : Korea Times - 4/11/2002
- LA COREE DU SUD PASSE AU TRES HAUT DEBIT
Alors que plus de 60% de la population dispose déjà d'une connexion Internet à haut débit, la Corée du Sud s'apprête à investir 11 milliards de dollars sur quatre ans pour moderniser encore son réseau. L'objectif étant de faire passer la vitesse du réseau de 3 megabits par seconde à 20 mbp/s. Soit 20 fois le débit maximum offert aujourd'hui au grand public en France. Le programme sera mis en œuvre par les opérateurs télécoms et les fournisseurs d'accès à Internet appuyés par des prêts gouvernementaux.
L'annonce intervient alors que la Corée du Sud a passé en octobre le cap des 10 millions de foyers abonnés au haut débit et que la progression semble se ralentir. Les nouvelles infrastructures doivent permettre de connecter 13,5 millions de foyers en 2005. Entre 1998, date de la première offre haut débit et 2002, l'Internet rapide a permis la création de 590.000 emplois. Le pays domine le monde sur tous les indicateurs. Le taux d'abonnements par million d'habitant était fin 2001 plus de deux fois plus élevé qu'au Canada, son suivant immédiat, et quatre fois plus élevé qu'aux Etats-Unis. Et 67% des ordres de bourse se font via le web contre 3,8% au Japon. - Source : lexpansion.com 06/11/2002
- SK TELECOM LANCE EN COREE UN NOUVEAU SERVICE DE TELEPHONIE MOBILE
En Corée, plus d'un demi-million d'utilisateurs de téléphones mobiles se sont abonnés dès le premier mois de lancement à Color Rings
Ce nouveau service qui permet aux abonnés de choisir la mélodie qu'entendront leurs correspondants lorsqu'ils les appellent et de remplacer ainsi la sonnerie traditionnelle. Cette toute dernière option de personnalisation des téléphones portables offerte par l'opérateur coréen SK Telecom utilise la plate-forme de services à valeur ajoutée de NMS Communications. SK Telecom a d'ores et déjà conquis 3,5 millions d'abonnés, ce qui représente une substantielle source de revenu .
Le forfait mensuel classique donne accès aux abonnés à une sélection limitée de sonneries. S'ils optent pour une formule plus élaborée, ils peuvent choisir des mélodies parmi les milliers de musiques enregistrées sur le réseau de SK Telecom : chansons à la mode, airs classiques ou messages pré-enregistrés du type " Joyeux anniversaire ". Ils peuvent également associer une mélodie à une personne et sélectionner ainsi celle qu'entendront leur conjoint ou leur patron quand ils les appelleront. La sélection s'effectue soit par l'intermédiaire d'un PC sur Internet, soit à l'aide d'un téléphone mobile sur le WAP ou d'un serveur vocal interactif et ne nécessite pas de télécharger les mélodies. - Source : La Lettre de l'Internet - 5/11/2002
- LES MARQUES DE MODE ONT DU MAL A VIVRE LONGTEMPS
Les difficultés des marques de mode locales pour durer sur le marché sud-coréen seraient dues à un manque d'expertise en management des marques.
Un rapport de MPI, cabinet de consultants spécialisé dans le textile et la mode, indique que plus de 400 marques de vêtements (29 % du total) ont disparu entre la fin 1997 et 2001 tandis que 344 nouvelles marques ont été lancées sur la même période.
L'étude montre que les marques de costume pour homme ont été les plus touchées, chutant de 35 %, suivies des marques de sous-vêtements - 34 %, les vêtements pour femme - 28 %, le casual wear - 27 % et les vêtements pour enfants et bébés - 25 %.
Le rapport reproche le manque d'expérience en management des marques au sein des entreprises de mode locales. " Le programme de management de la valeur des marques comme il en existe ailleurs dans les entreprises de mode développées n'a pas encore cours ici " a expliqué Choi Hyun-ho de MPI. - Source : CFCE/just-style.com - 12.11.2002
- LA FIEVRE DU BRICOLAGE GAGNE LA COREE
'DIY', 'Do it yourself', 'Faites-le vous-même' en français. C'est un terme équivalent au bricolage, mais pas synonyme. Les partisans du 'DIY' ne sont pas de simple bricoleur, ils cherchent aussi à fabriquer des objets inconnus, de leurs propres mains : un vêtement parfois d'inspiration fantaisiste, un livre ou un album de façon à compiler leurs récits et poème préférés. Depuis quelque temps, le 'DIY' est à la mode en Corée. Un phénomène socio-culturel lié au fait que les Coréens jouissent de plus de loisir qu'autrefois, mais aussi à leur désir d'être différents des autres, voire d'affirmer leur individualité... - Source : Corée News - 5/11/2002
- LE SECTEUR ELECTRONIQUE
L'industrie électronique sud coréenne enregistre de bons résultats malgré la détérioration de la conjoncture internationale. Les industriels attendent notamment une forte hausse des ventes d'écrans plats LCD. Les deux principaux producteurs de ces écrans LG.Philips LCD et Samsung Electronics devraient réaliser chacun en 2002 un montant de ventes d'écrans LCD supérieur à 4,3 milliards d'euros. LG.Philips et Samsung s'attendent à une baisse des prix qui sera neanmoins compensée par une forte progression des volumes. Des entreprises comme Samsung, LG.Philips, SKTeletech, Sewon Telecom, Pantech et Telson Electronics sont confiants dans les ventes de téléphones portables dotés d'écran numérique et d'appareils photo intégrés. - Source : Interex - 23/10/2002
- OPTIQUE : COUP D'ŒIL SUR LES IMPORTATIONS
Le marché coréen est estimé à 41,53 millions €. La part des importations s'élève à 10 %. Le nombre de personnes rencontrant des problèmes de vision, du fait de l'utilisation, entre autre, de plus en plus poussée des ordinateurs, croît. L'augmentation des importations est également dû à l'influence de plus en plus grande du secteur des lunettes de soleil et de l'utilisation de lunettes en tant qu'accessoires de mode.
Ce pays, comme beaucoup, importe massivement de Chine les articles bas de gamme, alors que ceux moyen-haut de gamme proviennent principalement d'Allemagne, du Japon… - Source : CFCE - Korea Optical business - octobre 2002
- KOREA TO PUSH FOR NANOTECH PROJECT
The Korean government has taken a step forward in its bid to nurture nanotechnology (NT) by setting aside 325.3 billion won that would help domestic researchers and labs pursue next-generation technology until 2010.
The nine-year project, however, has been scaled back ruthlessly from its original plan, mapped out by the Ministry of Science and Technology (MOST).
Earlier this year, the science ministry boldly announced it would pull off a three-stage plan, with the government pouring 1.37 trillion won in state and private investments into the project.
The ministry seems to have failed to persuade lawmakers about the legitimacy of making a major investment on NT, something ministry officials have said would pave the way for the introduction of NT infrastructure within five years.
The ministry spokesman was unavailable for elaborating on the cause of a cut back in its NT budget plan, but analysts here said the global economic downturn and hostile investment sentiment might have contributed to the decision to trim the funds.
Although the stingy budget allocation has slightly marred the initiative, it is widely desired that Korean researchers and government officials go ahead with NT development projects.
NT is a branch of micro-science. A nanometer is one-billionth of a meter, and to get a sense of how small that is, forget about analogies to the width of a human hair or the head of a pin. It's a place where objects are only slightly larger than atoms.
NT is a rapidly developing field with immense potential; tiny devices could revolutionize computing, information storage, communications and any number of unforeseen areas.
Korea's newly unveiled NT projects, numbered at 123, breaks down to three categories: core, infrastructure and basic.
The ministry said that 42 projects that fall under the core development field will be grouped based on discipline, and will be funded for a maximum of nine years.
They will also be placed under the supervision of a responsible research institute, and receive research grants of up to two billion won to carry out their work.
There are 38 infrastructure projects like biochip technologies, allowing researchers to continue their takes for up to five years. The maximum grants are set at one billion won.
MOST said it has selected 43 basic projects such as energy particle beams using nano-control systems, with the cap for grants set at 100-300 million won, depending on whether the research is individual- or group-based. The project period ranges from three to six years.
Ministry sources said Korea's NT level is about 25 percent of that of advanced countries, and if the nine-year projects are implemented smoothly, the gap will be narrowed significantly by 2010.
The science ministry consulted with the Ministry of Commerce, Industry and Energy, the Ministry of Information and Communication, the Ministry of Health and Welfare, and the Ministry of Education and Human Resources Development before unveiling the final details about the nine-year projects.
MOST formed a 112-member selection committee for the projects to screen finalists out of 416 applicants. - Source : Korea Herald (2002.11.25)
- ENTREPRISES AGROLIMENTAIRES EN COREE
Les entreprises agroalimentaires sud coréennes ont vu leur chiffre d'affaires progresser de 6,1% en 2001 à 22,4 milliards d'euros. Ces entreprises ont fortement investi dans les capacités de production dont la valeur comptable est estimée à 2,1 milliards d'euros. Même si les entreprises agroalimentaires sont optimistes à moyen terme, celles ci ne comptent pas investir pour autant car elle dispose de capacités de production trop importantes. La production agroalimentaire sud coréenne a été en effet de 13,4 millions de tonnes en 2001 alors que les capacités de production ont été de 31,5 millions de tonnes. Les principales entreprises du secteur sont Nongshim, Lotte Chilsung, Cheiljedang, Lotte Confectionery, Korea Coca Cola Bottling, Dongseo Food, Haitai Confectionery, Haitai Drinks, Dongyang Confectionery et Korea Nestle. - Source : Interex - 6/11/2002
- GM DAEWOO LANCE UN NOUVEAU MODELE
A l'occasion du salon de Séoul qui se déroulera à partir du 21 novembre prochain, le constructeur dévoilera au public sa toute nouvelle Nubira.
Rentrée en production à l'usine de Kunsa en Corée, la nouvelle Nubira de GM Daewoo sera exposée au public lors du prochain salon de Séoul qui se déroulera du 21 décembre au 1er décembre. D'un style fluide établi par le designer italien Pinifarina, le tout nouveau modèle dispose d'un haut niveau de sécurité confirmé par des tests physiques et des simulations effectuées par ordinateur. La nouvelle Nubira, qui sera dans un premier temps commercialisée en Corée sous le nom de Daewoo Lacetti, va être proposée dès le premier semestre 2003, sur le marché européen. Elle sera équipée de motorisation essence 1,6 l ou 1,8 l de cylindrée et sera disponible en version 4 portes dans un premier temps puis sera suivie de dérivés en 5 portes et break. Olivia Hévin - Source : autoactu.com - 20/11/2002
- SUBWAY BETWEEN GWANGMYEONG, YEOUIDO TO BE COMPLETED IN 2011
The area surrounding Gwangmyeong Station of Gyeongbu Express Railway will be developed into a center of logistics and transportation for the southwestern metropolitan region, the Ministry of Construction and Transportation said yesterday.
In line with the plan, the ministry will build a 12.9 km-long subway between Yeouido of Seoul and Gwangmyeong City in Gyeonggi Province by 2011, nine years ahead of the original schedule.
Gwangmyeong Station will also house a cross-country bus terminal, to be built on the station's complex.
Gwangmyeong Station, currently under construction for Seoul-Busan Gyeongbu Express Railway, sits on a total of 264,000 sq. meters of land. It will open in July next year.
The ministry released these and other measures for the development of the Gwangmyeong Station area.
According to the ministry's plan, a new Ansan subway route connecting Ansan-Gwnagmyeong Station-Yeouido-Cheongnyangri will be constructed by 2014, instead of the originally slated date in 2020.
As the first stage, the construction for the section between Gwangmyeong Station and Yeouido will commence in 2005 for completion by 2011. The second stage involving Ansan-Gwangmyeong and Yeouido-Cheongnyangri will be finished by 2014.
A total of 2.48 trillion won will be invested for the new Ansan route.
The completion of the subway route, which will link the heart of the capital city with the main station of Gyeongbu Express Railway, will give easier access to travelers in Seoul and the capital zone encompassing Incheon City and Gyeonggi Province, the ministry said.
The ministry also decided that the constructions of the second airport railway (Incheon Airport-Gwangmyeong Station) and southern metropolitan railway (Gwangmyeong-Bundang) will be launched earlier than scheduled. It was originally planned to begin sometime after 2020.
"With the constructions of highways, subways and railways branching out from the area, Gwangmyeong will undoubtedly rise as the hub of logistics and transportation in the southwestern area of the capital zone," a ministry official said. Source : Korea Herald (2002.11.08)
- PLAN TO CONSTRUCT SUBWAY LINE UNDER ASSEMBLY GREEN-LIGHTED
Seoul City will begin construction on the controversial section of a new subway line that will pass under the National Assembly building in Yeouido, Central, Seoul in July next year, city officials said yesterday.
The capital's urban planning committee has given the go-ahead as a team of experts concluded the subway would pose no serious threat to the safety of the parliamentary building and other facilities within its premises, a city official said.
The section of the envisioned Subway Line 9, which is planned to run below the parliamentary building, had been hotly contested by the municipal government and the National Assembly's Secretariat.
"New bidding will be conducted this month to pick a contractor for the section," the official said. "The city government will sign a contract and start construction in July next year."
Special safety measures will be adopted to limit possible damages to the subway construction site and away from the parliamentary building, he added.
The new subway line will link Gimpo Airport in western Seoul with Bangi-dong in eastern Seoul. The first-phase of construction is a 25.5 km section connecting Gimpo Airport to Banpo, which is scheduled for completion in 2007. (yskwak@koreaherald.co.kr) Source : Korea Herald - 22/11/2002
- COREE DU SUD : UN CONSTRUCTEUR AERONAUTIQUE TCHEQUE ENTRE SUR LE MARCHE
Le constructeur aéronautique tchèque LZ Aeronautical Industries s'intéresse vivement au marché sud-coréen. L'entreprise a récemment déposé un dossier pour la certification de son avion L-610G dans une tentative de s'introduire sur le marché local des petits porteurs. Ce nouvel avion peut transporter 42 passagers dont deux préposés de vol et 15 100 kg. Il peut voler à une altitude de 7315 m et à une vitesse de 396 km/h. LZ se montre confiant dans la compétitivité de son appareil en terme de prix et de consommation de carburant. Les autorités sud-coréennes examinent actuellement la technologie de l'appareil et son adaptabilité au marché local. La certification sera le cas échéant délivrée en 2003. - Source : The Korea Herald - 14/11/2002
- LA COREE DU SUD VA CONSTRUIRE 5 MILLIONS DE LOGEMENTS
Le gouvernement sud-coréen a annoncé un plan qui prévoit la construction de 5 millions de logements neufs d'ici 2012. Cette mesure est destinée à ralentir la progression rapide des loyers due au manque de logements dans le pays.
Le dynamisme de ce marché favorise les importations de bois destiné à la construction. Celles-ci ont atteint 11,6 millions de m3 en 2001. - Source : Le Moniteur - 5/11/2002
- GOV'T TO INVEST ?400 BILLION IN PARTS/MATERIALS SECTOR
The government said yesterday that it would invest 400 billion won into developing Korea's budding parts and materials industry in order to reduce the country's dependence on imported parts and materials and to foster a potentially lucrative industry.
Specifically, the government will promote and support cooperation between suppliers and users to create products that meet the needs of local manufacturers, the Ministry of Commerce, Industry and Energy said.
The ministry said that it is also looking into launching an insurance system that would boost the credibility of domestic parts and materials.
The ministry announced in its report that it has decided to invest 2 trillion won over the next 10 years into the project of developing 50 new core parts and material products every year. The funding will be created out of both public and private efforts.
For particularly high-risk projects that require heavy investment, the government plans on encouraging the formation of consortiums between users and suppliers of parts and materials. "In this way, we will create 10 new products annually," the ministry said.
Furthermore, the government will promote public investment in products that could be produced within a relatively short period of time while seeking international collaboration with countries like Germany and Japan to further improve quality of existing and new goods.
Agreeing in the need for a detailed and comprehensive plan, the ministry said that it would first build a blueprint for developing the parts and materials industry in five sectors: automobile, machinery, electronics, electrical and shipbuilding.
In addition to the specific development plans, the government plans on establishing a new system of insurance that would cover damages for the consumers should there be accidents in the manufacturing process. About 10 billion won is being slotted for this insurance project.
Meanwhile, according to a report by the Korea Institute for Industrial Economics and Trade that compared the parts and materials industries of Korea, China and Japan with each other, Korea's parts and materials industry is about 84 percent the size of Japan's while China's is about 45 percent the size Japan's. - Source : Korea Herald (2002.11.25)
- HYUNDAI PROSPECTE EN TUNISIE
Le président du groupe sud-coréen est actuellement présent sur le territoire tunisien afin d'établir divers investissements et partenariats.
Le président de la firme sud-coréenne "Hyundai", Lee Kye-Ahn, séjourne actuellement en Tunisie, où il a eu des entretiens sur les possiblités d'investissement dans le domaine de la construction automobile, a-t-on appris vendredi de source officielle. Le président du groupe sud-coréen a été reçu par les ministres des Affaires étrangères, Habib Ben Yahia, et du Tourisme, du Commerce et de l'Artisanat Mondher Zenaidi. Outre le secteur automobile, les deux parties ont décidé de prospecter les possiblités de partenariat et d'investissement dans le textile et le tourisme, a-t-on indiqué de même source. Source : Actuauto.com - 28/10/2002
- HYUNDAI GAGNE UN CONTRAT D'UNE SOCIETE GRECQUE
Hyundai Mipo Dockyard Co a remporté une commande de la société grecque Tsakos Shipping & Trading SA pour un montant de 160 millions $ pour la construction de six bateaux de transport de marchandises. Ils auront une capacité de poids mort de 37.000 tonnes et transporteront des produits pétrochimiques pour le compte de la société grecque. La livraison commencera au second trimestre en 2004.
Hyundai Mipo s'attend également à recevoir une commande supplémentaire de 210 millions US$ de l'entreprise grecque Athenian Sea Carriers Ltd pour construire huit bateaux de transport ayant un poids mort de 46.000 tonnes.
L'année dernière, les commandes de la société ont représenté environ 1 milliards $ soit 36 bateaux. Son objectif est d'atteindre un carnet de commandes d'un montant d'environ 980 millions$ pour construire 35 bateaux cette année. En incluant les deux dernières commandes, les commandes de la société de construction navale atteignent 850 millions $ cette année. Hyundai Mipo réalise maintenant plus de 80 % de son chiffre d'affaires dans la construction navale, y compris la réparation. Source : CFCE - Asia Pulse - Dow Jones International News - 14/11/2002
- L'AGONIE D'HYNIX SEMICONDUCTORS SE POURSUIT
Le numéro quatre des mémoires Dram s'achemine vers une sixième année de pertes.
Hynix ? Les coréens ? Ils n'ont pas encore fait faillite ?" s'étonnait hier une gérante parisienne à l'évocation du nom du quatrième fabricant mondial de mémoires informatiques Dram. Et non... Toujours maintenue en vie par les perfusions des principales banques locales, ce fabricant coréen de 3,3 milliards d'euros de chiffre d'affaires annuels est toujours en vie. Il va simplement plus mal que jamais. Revenu de tout, même d'une fusion avec l'américain Micron Technologies, Hynix Semiconductors a creusé ses pertes nettes de 617 milliards de wons (511 millions d'euros *) au cours du dernier trimestre. Plus inquiétant, les pertes d'exploitation du groupe ne diminuent que de 3 % par rapport à l'an dernier.
Difficile de faire pire à l'orée d'une sixième année déficitaire consécutive et alors qu'un endettement astronomique de 6.200 milliards de wons (5,2 milliards d'euros) force le fabricant de puces à réduire ses investissements et à faire tourner des lignes de production d'un autre âge: moins du tiers des mémoires sorties sont à double vitesse de transfert (DDR) contre 60 % pour le leader mondial Samsung. Lequel a annoncé il y a peu 1.730 milliards de wons (1,4 milliard d'euros) de bénéfices nets trimestriels.
Rumeurs. Les banques, qui ont pris le contrôle du groupe en juin après la conversion d'une partie de ses créances en actions, attendent maintenant les résultats d'un audit mené par les spécialistes de la Deutsche Bank. Et ce, afin de décider ou non de monter le troisième plan de sauvetage en deux ans.
"La seule consolation reste les rumeurs sur une prochaine cession de son activités d'écrans informatiques à Beijing Oriental Electronics; il n'en reste pas moins que le risque d'un nouveau plan de restructuration intégrant un nouvel échange de dette contre action continue de peser sur la valeur", avertit Sun Chung, analyste chez Merrill Lynch à Seoul. "Les actionnaires minoritaires seront perdant dans tous les cas de figure", prévient Keon Han. En recul de 3,2 % à 455 wons hier, les action Hynix ont perdu 90 % en trois ans - Source : La Tribune - 18/11/2002
- HANARO TO RAISE $1.4 BILLION OVERSEAS By Kim Deok-hyun
Hanaro Telecom, the nation's second largest broadband Internet operator, yesterday decided to mobilize $1.4 billion from its foreign investors.
Doo Won-soo, Hanaro's senior managing executive, said the company would attract $700 million through issuance of new stocks, with the half to be raised in syndicated loans.
Before the end of December, Hanaro will issue a total of 210 million new common shares with a price of 4,000 won per share.
Hanaro mandated JP Morgan and UBS Warburg to arrange the $700 million in syndicated loans maturing in five years.
Hanaro will use the fund in taking over Powercomm and reduced its debts, Doo said.
Hanaro has been in talks to purchase a 30 percent stake in Powercomm, the cable network unit of state Korea Electric Power Corp. (KEPCO).
Currently, KEPCO is negotiating with two consortia, one led by Hanaro and another by Dacom, the fixed-line telephone and Internet arm of the LG group, in an effort to sell off the cable unit.
In the battle to acquire the Powercomm, Hanaro has been under pressure for its relatively weaker financial structure than Dacom, which has been backed by LG group.
The Hanaro-led consortium includes American International group and Newbridge Capital.
At the end of September, Hanaro had 2.85 million broadband Internet customers, adding 810,000 new customers this year. kdh@koreatimes.co.kr - Source : Korea Times - 1/11/2002
- SIEMENS TO SET UP JOINT VENTURE WITH PROSONIC
Siemens is poised to set up a joint venture in Korea with Prosonic Co., which manufactures ultra sound transducers, as soon as next month.
Han Jin-ho, CEO of Prosonic, signed an agreement with his counterpart at Siemens on November 7 in Seoul, Korea.
The new joint venture will be located in Kyungjoo City, North Kyungsang Province. Under the alliance, Siemens will take a 51 percent share of the entity, while the remaining 49 percent falling to Prosonic.
Initial captial is $5 million, with assets totaling $15 million.
Prosonic has agreed to supply ultra sound transducers manufactured by the new production entity to medical equipment made by Siemens.
Siemens plans to aggressively expand its base in the Asian market soon. - Source : Daily Economy (2002.11.07)
- INAUGURATION DU TGV COREEN : UN TREMPLIN POUR LES ENTREPRISES FRANÇAISES
François Loos, ministre délégué au Commerce extérieur, en déplacement à Séoul (Corée) est convenu aujourd'hui avec le président de Lotte, M. Shin Kyuk-ho, l'un des plus importants conglomérats sud coréens, que des opérations de promotion des produits français seraient organisées régulièrement dans les points de vente du groupe, notamment lors de l'inauguration en 2004 du TGV Séoul - Bussan.
A cette occasion, des produits français seront présents tout au long du parcours. Le ministre va demander à Partenariat France et au MEDEF d'organiser dès 2003 un déplacement d'entreprises françaises pour prospecter le marché coréen et participer à l'opération d'inauguration du TGV.
" Les grands contrats peuvent et doivent engendrer des courants d'affaires dans des secteurs variés et pour le maximum d'entreprises. Je pense principalement aux PME " a déclaré le ministre.
Le groupe Lotte est le premier groupe de distribution en Corée. Il est aussi présent dans l'agroalimentaire. Les produits français représentent déjà un tiers de l'approvisionnement du groupe en agroalimentaire étranger et des accords existent déjà entre Lotte et plusieurs entreprises françaises des secteurs agroalimentaire, de la beauté ou de la mode.
François Loos souhaite mobiliser les PME françaises vers les pays asiatiques en expansion. La Corée connaît une croissance annuelle de 6% en moyenne depuis la crise asiatique de 1997. Son taux de croissance sur une plus longue période se situe autour de 10%. Le marché coréen est un marché ouvert en matière de biens de consommation et d'équipements ménagers. Dans les années qui viennent, ce marché va se diversifier et offrir des nouvelles opportunités à mesure de la restructuration des secteurs de la distribution. - Source : News Press 14/11/2002
- FRANÇAIS ET AMERICAINS SE DISPUTENT LA COMMANDE D'UN SATELLITE EN COREE DU SUD
La bagarre entre Alcatel, Astrium (filiale d'EADS) et Lockheed Martin pour décrocher la commande de la Corée du Sud pour Koreasat 5, un satellite civil et militaire, touche bientôt à sa fin. La décision devrait intervenir d'ici à Noël, peut-être même avant l'élection présidentielle du 19 décembre. Le président coréen Kim Dae-jung, en fin de mandat et non rééligible, aura peut-être envie, en effet, de boucler le dossier avant son départ.
Après Serge Tchuruk, président d'Alcatel, qui a fait le voyage en Corée la semaine dernière pour défendre personnellement la valeur de son groupe, ce fut au tour de François Loos, ministre délégué au commerce extérieur, de venir plaider la cause des compétiteurs français. Il a ainsi choisi de boucler sa minitournée en Asie (du 9 au 14 novembre) par Séoul, afin d'y rencontrer le ministre coréen de l'information et des communications. Si le courant n'est visiblement pas très bien passé entre les deux hommes, le projet a, en tout cas, été largement discuté et les espoirs restent entiers.
Chasses gardées
Alcatel, qui, selon des sources proches du dossier, semble être le mieux placé des deux français pour tenir tête à Lockheed, vient de remettre sa dernière proposition - un dossier de 5 000 pages - aux experts du gouvernement coréen. Le projet est estimé à 200 millions de dollars (199 millions d'euros). Ce premier appel d'offres sera suivi d'un deuxième pour le lanceur du satellite, avec là aussi 200 millions de dollars à la clé, assurances comprises. " Les deux sites de Toulouse et de Cannes et leurs employés seront davantage en difficulté si Alcatel ne sort pas vainqueur de la compétition, estime un expert. C'est un bol d'air dont il a bien besoin en ce moment."
Les enjeux du dossier ne sont pas que techniques. L'industrie de l'armement est, en Corée du Sud, l'une des chasses gardées des Etats-Unis, partenaires privilégiés de Séoul depuis la fin de la guerre, en 1953. Près de 40 000 soldats américains sont basés dans la péninsule et des experts estiment à 50 milliards de dollars par an le soutien américain dans le domaine militaire. On comprend bien que le gouvernement coréen, quel qu'il soit - d'avant ou d'après la sortie des urnes - y regardera à deux fois avant de choisir son vainqueur. Et ce d'autant plus que, au sein des actionnaires de Lockheed, on retrouve le fonds de pension Carlyle, où le père de George W. Bush a des intérêts financiers.
Alcatel n'aimerait pas que l'histoire se répète et qu'il lui arrive la même mésaventure qu'à Dassault. Au terme d'une compétition très serrée, c'est finalement l'américain Boeing qui avait été retenu par Séoul pour la livraison de nouveaux avions de chasse. Les F15 avaient été préférés aux Rafale. Le constructeur français a d'ailleurs décidé de porter l'affaire devant les tribunaux, arguant que son offre était la plus compétitive. Selon des proches du dossier, Dassault, qui avait dépêché sur place des équipes, notamment des pilotes, pour faciliter la prise en main des appareils par les Coréens, aurait perdu 50 millions de dollars dans l'affaire. Si Alcatel ne confie pas de chiffres sur le montage du projet Koreasat 5, on sent bien qu'un échec serait aussi difficile à digérer. Marie-Béatrice Baudet - Source : Le Monde - 17/11/2002
- BNP PARIBAS PEREGRINE OPENS LOCAL BROKERAGE UNIT IN KOREA
BNP Paribas Peregrine, a France-based investment bank, announced yesterday the official opening of its securities arm in Korea, BNP Paribas Peregrine Securities Korea Co.
BNP Paribas Korea was granted permission to do business by the country's Financial Supervisory Commission on Oct. 23, 2002.
The approval marks an important milestone for BNP Paribas Peregrine as it gives the firm direct access to trade on the Korea stock market for institutional investors in Korea as well as globally.
BNP Paribas Peregrine has been in Korea since the representative office was set up in 2000. Now, BNP Paribas Korea has a full team of research analysts, sales, sales trading and support staff providing research and execution to its client base.
The on-the-ground local team works together with its regional strategy, economy and sector teams to provide high quality research.
"Now with Korea, we have almost completed the establishment of our equity platform in both North Asia and South East Asia. Despite adverse global market conditions, we are very upbeat on BNP Paribas Peregrine prospects in Korea," said Guillaume Dry, vice president of BNP Paribas Peregrine during a news conference held yesterday at the Hotel Shilla, central Seoul.
"Korea has been one of the best performing stock markets this year. Foreign reserves have edged up to new record high. We would like our firm and our clients to be able to capitalize on the market growth of Korea going forward. "
Recent research view of BNP Paribas emphasizes that Korea will be joining the $1 trillion economic league by 2005 in terms of gross domestic product (GDP). (trillion@koreaherald.co.kr) - Source : Korea Herald - 20/11/2002
- LA SOCIETE FAROS REMPORTE UN APPEL D'OFFRE DE LA MARINE COREENNE
La division Marine du groupe remporte un appel d'offres auprès de la Marine Militaire de la Corée du Sud pour la livraison d'un simulateur de lutte anti sous-marine.
Cette importante commande prévoit la livraison à la Marine Militaire de la Corée du Sud d'un système de simulation destiné à l'apprentissage combiné des opérateurs de navires de surface, d'hélicoptères et d'avions pour la détection sous-marine.
" Ce nouveau succès commercial valide la stratégie de Faros orientée vers un développement équilibré des 3 axes de la simulation (Aéronautique, Marine et Automobile) confirmant ainsi le business model du groupe hors croissance externe. ". Le Groupe prouve ainsi sa capacité à se présenter comme un acteur significatif sur le marché mondial de la simulation dans le domaine des transports. - Source : Faros.com - 26/11/2002
- PASTEUR INSTITUTE LIKELY TO SET UP SHOP IN KOREA
The Pasteur Institute of France, one of the world's eminent research centers, has suggested establishing a Korean arm of the institute for joint studies to combat epidemics, the Ministry of Science and Technology said yesterday.
The suggestion was made by Paul Brey, head of the Insect Biochemistry and Molecular Biology Unit at the foreign institute, during his visit to the ministry Wednesday.
Brey hoped to set up the new unit in an existing Korean research center, rather than erecting a new building, along with shared payments of research costs.
He also inspected research centers supported by the ministry to identify the local research status.
The Paris-based institute, established in 1886, is the first developer of vaccines for rabies and hepatitis B. Scientists at the institute have won the Nobel Prize eight times. It has units in 21 countries including China and Argentina.
The ministry will discuss the establishment of the unit with the French institute by dispatching a delegation to France in November. - Source : Korea Herald (2002.10.25)
