Thursday , July 9 2020
Home / Tag Archives: Korea

Tag Archives: Korea

CoronaWar Battlegrounds: New York Leads in Growth, Minnesota Bends it Best. California Hot Spots v. Italy & South Korea. Pain in Spain

Madrid area hospitals were forced into wartime-triage, denying care to the elderly in order to give the young a better chance. By Wisdom Seeker, a WOLF STREET Commenter with a physical sciences Ph.D., San Francisco Bay Area: This post takes a fresh look at key battlegrounds in the CoronaWar which we discussed last week. For local readers, I’ll take a unique and fresh look at the Bay Area, LA and California. Around the US and globally, Spain joins Italy’s misery, but New York continues...

Read More »

Just How Bad Is It Going to Get for US Airlines?

“We are preparing for the possibility of further reductions to our schedules as the virus spreads.” By Wolf Richter for WOLF STREET. The IATA (International Air Transport Association), which represents some 290 airlines, issued a press release this morning, exhorting airport regulators globally to suspend “immediately and for the 2020 season” the rules governing airport slots “due to the impact of COVID-19 (the Coronavirus).” In its reasoning for this request, it said: “IATA research...

Read More »

How a Coronavirus Case in Korea Instantly Hit a Small Business in the US

Everyone is trying to figure out how to get around the sudden hurdles. By Wolf Richter for WOLF STREET. A small US company that specializes in exporting US frozen and refrigerated food products to Asia, including to South Korea, suddenly got hit by the coronavirus-spread-prevention machinery that is now screwing up businesses around the globe, according to an employee who doesn’t want to be named – and doesn’t want the company to be named – because they’re not authorized to discuss the...

Read More »

2020, Already the Year of Zombie Airlines

And the year has just started. By MC01, a frequent commenter on WOLF STREET: In South Korea: Hyundai Development Company (HDC) and Mirae Asset Daewoo (MAD) were “selected” in November by the Korean government as “preferred bidders” to purchase a large share in the country’s second largest airline, Asiana, whose financial troubles we have previously covered. Asiana’s financial situation has been steadily deteriorating: Total debt at the end of the first half of 2019 ballooned to 9.6...

Read More »

U.S. Barely Cleanest Dirty Shirt Among Manufacturing Giants

US & China come up with conflicting data, Germany in crisis, Japan has “excessive” downside risks, South Korea faces “headwinds from all sides.” Manufacturing in the US is growing at crawl-speed or is actually declining, depending on who the beholder is. China appears to be on a similar track, with manufacturing export orders in particular trouble. But the other manufacturing giants – Germany, Japan, and South Korea – are not so lucky. On Friday, two major beholders released their...

Read More »

Latest Act in the Crisis of the Enormous Korean Shipbuilders

And now not even their foreign subsidiaries are immune. By MC01, a frequent commenter on WOLF STREET: In February 2019, Hyundai Heavy Industries (HHI) was selected by the Korea Development Bank (KDB) as the “sole bidder” for the ailing Daewoo Shipbuilding and Marine Engineering (DSME), in which the State-owned Korea Development Bank holds a 55.7% stake. Samsung Heavy Industries (SHH) had already announced they had no interest in taking over DSME, making this selection process little...

Read More »

Fun on Friday: Finders Weepers; Losers Keepers?

And they say crime doesn’t pay.Remember the South Korean custodian who found gold bars in the garbage can at the  Incheon International Airport? I wrote about it a little over a year ago. The real travesty is that the janitor who found the gold probably won’t get a dime. It was a sad case of finders weepers.Well, the story has another twist. It seems it may be losers keepers.So, our intrepid custodian was emptying the trash when he/she found seven gold bars. They are valued at around...

Read More »

US Cleanest Dirty Shirt Among Manufacturing Giants: Germany at Crisis Level. China, Japan, South Korea Contract

Exports-at-all-costs for economic growth comes home to roost. Manufacturing in the biggest manufacturing countries, particularly those focused on exports, has hit various levels of malaise, ranging from slowing growth to panic-inducing decline, according to the manufacturing Purchasing Managers Indices for May released on Monday. The PMI data shows that in the US, manufacturing is growing more slowly, but it’s still growing, and so the US continues to be the cleanest dirty shirt in...

Read More »

More Airline Woes: Avianca Brazil Gets Dismembered, Korea’s Asiana Airlines Gets Taxpayer Bailout, Air India Gets Rumors of Default

It Just Doesn’t Let Up With Airlines. By MC01, a frequent commenter, for WOLF STREET: Here’s an example of what should happen to an airline which has become unprofitable and failed to turn around its financial situation. On May 7, the assets of Avianca Brazil, formerly Brazil’s third-largest airline, will be auctioned off to pay creditors. To streamline sales and maximize proceeds, Avianca Brazil has been broken up in seven lots. The best assets are prime slots at the Congonhas and...

Read More »

“Asia Will Be the Next Source of Downside Systemic Risk for Financial Markets”

Emerging Markets turmoil: The price of cheap debt & misallocation of capital. “Excess liquidity usually leads to the misallocation of capital, masking any balance sheet constrains. As this tide of excess liquidity recedes, it reveals the misallocation of capital and the mispricing of risk,” Nedbank CIB strategists Neels Heyneke and Mehul Daya write in a note. And this is particularly the case for excess dollar-liquidity in the Emerging Markets (EMs). Sovereign credit ratings – such...

Read More »