KOREA: BEFORE THE OPEN, 19Jun2013

2014 Brazil coming your way; Another sweltering day, another power alert; SK E&C can smell the money; Inflation nation, health care and construction wages; Zuck in South Korea; 3% growth ?; Here’s what you need to know pre-open.

1. Watch yourself it’s hot out there today. Another power alert has been issued as temperatures are expected to climb over 30 degrees Celsius.
2. So close to the finish line. SK E&C is the preferential bidder for Santiago Chile’s new US$1.2bn power plant.
3. Heads of two companies involved in the power shortage have received a management grade of “E” by the government for their handling of the crisis.
4. Health insurance will cost 1.7% more next year. A little here, a little there an soon enough you are talking some significant inflation.
5. Mark Zuckerberg CEO of Facebook is in South Korea meeting with all sorts of folks. He meet with Samsung and they discussed possible partnerships.
6. 3% growth or 2.6% growth who knows. The government says that 2H13 GDP growth has the possibility of hitting 3%.
7. Construction workers are at the trough again asking for a 15% raise. Oh yeah it’s getting expensive out there.
8. Even after losing to Iran, South Korea has made it into the 2014 World Cup. Congratulations!