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Best of the Blogs, Emerging Markets: South Korea's President Promises Increased Trade With Colombia


Plus, Samsung sets lofty goals for the second fiscal quarter.

This column highlights the most interesting and useful financial commentary on emerging markets from around the Web every Monday.

The Korea Herald
Link: Lee Expects S. Korea-Colombia Trade to Jump Five-fold Under FTA
"President Lee Myung-bak said he expects trade between South Korea and Colombia to jump five-fold over the next five years if the two countries implement a free trade agreement, saying the deal would create a win-win situation for both sides.

Lee made the remark in an interview with Colombia's leading El Tiempo newspaper published Sunday. Lee arrived in Bogota on Saturday for a three-day visit that made him the first South Korean president to travel to the wartime ally that fought alongside the South during the 1950-53 Korean War."
Link: Samsung Eyes 10-Million Mark for Galaxy S3 by End of July
"South Korea's Samsung Electronics (SSNLF), the world's largest smartphone maker, said Monday it expects to have sold 10 million of its newest Galaxy S3 model by the end of July, two months after its launch.

"J K Shin, head of the mobile communications division, said robust sales of the model would help Samsung's mobile business post a second-quarter profit bigger than the first three months."

The Irrawaddy
Link: Burma's Looming Oil / Gas Auction Could Pit Energy Giants Against Suu Kyi
"With Western sanctions suspended or removed in response to recent government reforms, Burma's lucrative oil and gas sectors could soon see a rush of bids from Western companies, despite warnings from opposition MP Aung San Suu Kyi about graft in Burma's state-run energy firms.

"The international bidding process for 25 offshore oil and gas blocks will take place "in two or three months time," according to Aung Kyaw Htoo, the assistant director of the Energy Planning Dept. at the Ministry of Energy."

The Economic Times
Link: For Second Year in a Row, Tata Motors Retains Group Flagship Crown
"For the second year in a row, Tata Motors (TTM) has emerged as the flagship of the Tata Group in terms of sales and net profit, which stands at 1,65,000 crore and 13,500 crore, respectively. With plenty of help from Jaguar Land Rover (or JLR), Tata Motors has been able to widen the gap between itself and Tata Steel, the flagship till fiscal 2010."

The Daily Star
Link: German Minister Spurs Bangladesh on Energy Investment
"Guido Westerwelle, Germany's foreign minister, has suggested Bangladesh invest more in energy and education for future development of the country.

"Investing in energy and education must be the primary effort of Bangladesh as the country has the potential of development, Westerwelle said at a reception held in his honour by the Bangladesh-German Chamber of Commerce and Industry (or BGCCI) at the Westin Hotel in Dhaka on Saturday."

Viet Nam News
Link: PVEP to explore for oil in Peru
"The PetroVietnam Exploration and Production Corporation (or PVEP) expanded its presence in South America by acquiring over 50 per cent of a project to explore oil in Peru, from London-based Perenco SA."
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