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2017-06-30 08:30:00

U.S. - S.KOREA BUSINESS

U.S. - S.KOREA BUSINESS

PE - South Korean companies announced  plans to import more American shale gas and build new factories in the U.S. as the two countries' leaders prepare to hold summit talks in Washington where trade is expected to be a key issue.

The Korea Chamber of Commerce and Industry, South Korea's largest business association, said Thursday that major South Korean companies had proposed a slew of new investments ahead of President Moon Jae-in's meetings Friday with President Donald Trump.

South Korean businesses are highlighting investments and other plans that will help create jobs in the U.S. as the Asian country fends off criticism over a growing trade imbalance in its favor.

Electronics conglomerate Samsung Electronics said earlier this week it plans to spend $380 million to build a new home appliance factory in South Carolina. It also will spend $1.5 billion on its semiconductor plant in Texas. LG Electronics said it will put $250 million into building a new washing machine plant in Tennessee and $300 million on a new building in New Jersey.

SK Group signed a preliminary agreement with GE and Continental Resources earlier this week to jointly develop U.S. shale gas. The group, which owns South Korea's largest mobile carrier and the country's second-largest semiconductor company, said it will import American liquefied natural gas and liquefied petroleum gas starting in 2020 to help diversify its energy imports.

GS Group plans to start importing American shale gas worth $220 million for 20 years starting in 2019. Hanjin Group, parent company of flag carrier Korean Air Lines, said it plans to purchase 50 additional planes from Boeing over the next seven years.

The U.S. trade deficit with South Korea has nearly doubled since a bilateral trade agreement took effect in 2012, and Trump took aim at the trade deal while campaigning for president.

Total two-way trade totaled $144.6 billion last year, with the U.S. running a $17 billion deficit.

The White House official said Trump would call for the lifting of barriers to U.S. auto sales in South Korea and voice concern over steel exports from China that reach the U.S. via South Korea.

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Earlier:

USA: 

DOUBLE U.S. OIL EXPORTS 

IMF: U.S. ISN'T WORKING WELL 

U.S. OIL DEMAND UP 4.9% 

U.S. RENEWABLE ENERGY 

U.S. RIGS UP 8 TO 941 

U.S. FEDERAL FUNDS RATE 1.25% 

U.S. OIL GAS PRODUCTION WILL UP ANEW

 

S.KOREA: 

LNG OVERSUPPLY 

SOUTH KOREA'S LNG DOWN 

OIL & GAS WEAKNESS 

THE LARGEST LNG IMPORTERS 

ASIAN LNG IMPORTS UP 

S.KOREA'S OIL UP 4.5% 

ASIAN LNG DOWN 5%

 

 

 

Tags: USA, KOREA, GAS, INVESTMENT

Chronicle:

U.S. - S.KOREA BUSINESS
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IRAN - EUROPE NUCLEAR

WNN - "We met today to confirm the continuing commitment of the European Commission and the Atomic Energy Organisation of Iran towards the implementation of the Joint Comprehensive Plan of Action, and in particular its Annex III which addresses civil nuclear cooperation," Cañete and Ali Akhbar Salehi, president of the AEOI, said in a joint statement on 19 May. "We believe that the continuing implementation of the JCPOA, which was unanimously endorsed by UN Security Council Resolution 2231, is crucial for the development and progress of the region as well as the global peace and security."

U.S. - S.KOREA BUSINESS
2018, May, 23, 10:15:00

NO OIL FUTURE 2040

BLOOMBERG - Natural gas will probably emerge as the main fossil fuel “winner” as it balances renewables in power generation and is used as a substitute for oil in petrochemicals. Long-term gas demand is set to increase by 15 percent, or by 750 billion cubic meters, compared to business as usual,

U.S. - S.KOREA BUSINESS
2018, May, 23, 10:10:00

CLEAN NUCLEAR FUTURE

WNN - The United States, Canada, and Japan are launching the Nuclear Innovation: Clean Energy (NICE) Future Initiative. This global effort will make sure nuclear has a seat at the table during discussions about innovation and advanced clean energy systems of the future.

U.S. - S.KOREA BUSINESS
2018, May, 23, 10:05:00

ARABIAN OIL FOR INDIA

AOG - The agreement between ADNOC and ISPRL, which was initiated in January 2017 during a visit to India by a high-ranking UAE delegation, led by His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, covers the storage of 5.86 million barrels of ADNOC crude oil in underground facilities, at the Karnataka facility. The first shipment, of approximately two million barrels of crude oil, will be followed by further shipments after India’s annual monsoon season.

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