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SEOUL, South Korea (AP) — A South Korean court on Monday acquitted Samsung Electronics Chairman Lee Jae-yong of financial crimes involving a contentious merger between Samsung affiliates in 2015 that tightened his grip over South Korea’s biggest company. The court said the prosecution failed to sufficiently prove the merger between Samsung C&T and Cheil Industries was unlawfully conducted with an aim to strengthen Lee’s control over Samsung Electronics. Lee had denied wrongdoing in the current case, describing the 2015 merger as “normal business activity.”Lee, 56, did not answer questions from reporters as left the court. Lee Jae-yong served 18 months in prison after being convicted in 2017 over separate bribery charges related to the 2015 deal. Some shareholders had opposed the 2015 merger, saying that it unfairly benefited the Lee family while hurting minority shareholders.

Persons: Lee Jae, Lee, ” Lee, Jin Kim, Lee Kun, Park, Yoon Suk, tycoons, Kim Tong, hyung Organizations: Samsung, Korea’s, Seoul Central, Cheil Industries, Samsung Electronics, Prosecutors, South, National Pension Service Locations: SEOUL, South Korea, Seoul, Ukraine

☆ Late Samsung chairman's family sell $2 billion worth of shares to help pay huge South Korean inheritance tax
▼ + stars: | 2024-01-13 | by ( Polly Thompson | ) www.businessinsider.com time to read: +1 min

The former Samsung Electronics chairman, who was South Korea's richest person, died in 2020. Lee Kun-hee's family is now selling billions worth of shares to pay inheritance taxes. South Korea has a top inheritance tax rate of 50%, the world's second highest after Japan. AdvertisementThe widow of the former Samsung Electronics chairman and her two daughters sold billions worth of shares to help pay off their inheritance tax, The Korea Times reported, citing industry sources. But due to South Korea's top inheritance tax rate of 50% — the second highest in the world — the family was hit with more than 12 trillion won, which is now around $9 billion, in tax bills.

Persons: Lee Kun, — Organizations: Samsung Electronics, Japan, Service, Korea Times, Business Locations: Korea

☆ North Korea Received Russian Aid for Satellite Launch -South Korea Lawmakers
▼ + stars: | 2023-11-22 | by ( Nov. | At P.M. | ) www.usnews.com time to read: 1 min

SEOUL (Reuters) - North Korea received assistance from Russia for its successful launch of a reconnaissance satellite this week, South Korean lawmakers said on Thursday, citing the country's intelligence agency. North Korea had sent data on launch vehicles used in two failed previous satellite launches, and Russia offered its analysis of the data, Yoo Sang-bum, a member of the parliamentary intelligence committee, told reporters after a briefing by the spy agency. Youn Kun-young, another committee member, said the launch was successful since the satellite entered orbit, and North Korea could launch additional satellites and conduct a nuclear test next year. (Reporting by Hyonhee Shin, Hyunsu Yim and Soo-hyang Choi; Editing by Kim Coghill, Ed Davies)

Persons: Yoo Sang, Youn Kun, Hyonhee Shin, Hyunsu Yim, hyang Choi, Kim Coghill, Ed Davies Locations: SEOUL, North Korea, Russia

☆ China to accelerate issuance of government bonds, finance minister says
▼ + stars: | 2023-11-05 | by ( ) www.reuters.com time to read: +2 min

A woman walks in the Central Business District (CBD) on a hazy morning in Beijing, China, October 25, 2021. REUTERS/Thomas Peter/File Photo Acquire Licensing RightsBEIJING, China, Nov 5 (Reuters) - China will accelerate the issuance and use of government bonds, state-run news agency Xinhua reported on Sunday citing an interview with new finance minister Lan Foan. "The Ministry of Finance will continue to implement a proactive fiscal policy, focus on improving efficiency, and better play the effectiveness of fiscal policy," said Lan, who also noted the "complex domestic and international situation". Some new local government debt quotas for 2024 have been issued in advance to reasonably ensure local financing needs, he said. The top parliamentary body last month approved the issuance of 1 trillion yuan ($137 billion) in sovereign bonds in the fourth quarter to fund rebuilding of areas affected by floods, state media reported.

Persons: Thomas Peter, Lan Foan, Lan, Liu Kun, Martin Quin Pollard, Wang Shuyan, William Mallard, Christopher Cushing Organizations: Central Business, REUTERS, Rights, Xinhua, Ministry, Finance, Communist Party, Thomson Locations: Beijing, China, Rights BEIJING, Shanxi

☆ South Korea: Itaewon crush haunts survivors one year after Halloween crowd disaster
▼ + stars: | 2023-10-27 | by ( Heather Chen | ) edition.cnn.com time to read: +9 min

CNN —Hye Minyi can still vividly recall what happened in Itaewon, South Korea, on the night of October 29, 2022. Whether the disaster in Itaewon last year will put a dent in this growing popularity is yet to be seen. “We are extremely concerned that there could be a repeat of the Itaewon tragedy,” said Shibuya mayor Ken Hasebe. The Itaewon crowd crush was South Korea’s worst peacetime disaster since the sinking of a ferry in 2014 killed 304 people – among them 250 students and teachers from the Danwon State High School. Lee is certain of one thing, however – that she is “never going back to the area again.”“For me, Halloween and the Itaewon tragedy are (inextricably) linked,” she said.

Persons: CNN — Hye, Amy, Hye, ” Hye, ”, “, Anthony Wallace, expats, Ken Hasebe, Hasebe, ” Hasebe, overtourism, Yuya Shino, Critics, Jung Yeon, Yoon Suk, Kim Kun, Chung Sung, Lee, Kim Ho, Lee Sang Organizations: CNN, Getty, “, Reuters, Danwon State High School, South Korean, Seoul Metropolitan Government, South, City, Facebook, Interior, Safety Locations: Itaewon, South Korea, Seoul, AFP, Asia, Tokyo, Taipei, Hong Kong, Shanghai, Singapore, Japan, Shibuya, “, Tokyo's Shibuya, Guangzhou, China, South, Danwon, Yongsan

☆ China names Lan Foan as new finance minister amid stimulus push
▼ + stars: | 2023-10-24 | by ( ) www.reuters.com time to read: +2 min

BEIJING, Oct 24 (Reuters) - China has appointed Lan Foan, a technocrat with little central government experience, as the new finance minister, state media said on Tuesday, as the government ramps up fiscal stimulus in a bid to revive the economy. Lan, 61, who was named the Communist Party chief at the finance ministry last month, has succeeded Liu Kun who had been finance minister since 2018. Previously, Lan was the party chief of the northern Chinese Shanxi province. He transferred to Shanxi in 2021, as the province's vice party chief, before becoming the party chief in December 2022. Liu, China's finance minister since 2018, has surpassed the official retirement age of 65 for minister-level officials.

Persons: Lan Foan, Liu Kun, Lan, Liu, Kevin Yao, Alison Williams Organizations: Communist Party, Hubei University of Finance, Economics, Thomson Locations: BEIJING, China, Shanxi, Beijing, Guangdong

☆ Armed with a heavyweight torpedo made to 'break ships in half,' Taiwan's first homemade submarine will represent a new threat to China's navy
▼ + stars: | 2023-10-10 | by ( Chris Panella | ) www.businessinsider.com time to read: +9 min

The vessel's ability to carry a powerful heavyweight torpedo capable of defeating ships and submarines — the US-made Mark 48, or Mk-48 — is a real eye-catching feature. The vessel — its English name "Narwhal" and Mandarin name "Hai Kun" — is the first sub of the island's Indigenous Defense Submarine program, a top priority in Taipei. AdvertisementAdvertisementTaiwan President Tsai Ing-wen receiving a submarine model in front of Taiwan's first locally built submarine, "Narwhal," during the vessel's unveiling ceremony at the CSBC Corporation shipbuilding company in Kaohsiung in September. US Navy/MC1 Michael B ZingaroOriginally designed in the late 1960s and deployed in the late 1980s, the Mk-48 torpedo was intended to counter advances in Soviet submarine technology. These considerations make the Mk-48 torpedo key.

Persons: —, Tom Shugart, who's, they're, Tsai Ing, Bryan Clark, Clark, Donald Trump, Michael B, It's, Shugart, MCSN Jaimar Carson, Huang Shu, kuang, they've, Philip Davidson, Michael B Zingaro, it's, Huang, wouldn't Organizations: China, Service, US, Center, New, New American Security, Indigenous Defense, CSBC Corporation, SAM, Getty, US Navy, Hudson Institute, Army, Pacific Command, Tomahawk, Maritime Locations: Taiwan, bulking, New American, Kaohsiung, Taipei, AFP, Los Angeles, Columbia, Soviet, Jefferson City, Beijing, China, Ukraine

☆ Armed with a heavyweight torpedo made to 'break ships in half,' Taiwan's first homemade submarine represents a new threat to China's navy
▼ + stars: | 2023-10-10 | by ( Chris Panella | ) www.businessinsider.com time to read: +9 min

☆ China kicks off its plan to take on the cruise industry: 'There's no turning back'
▼ + stars: | 2023-09-30 | by ( Hannah Towey | Brittany Chang | ) www.businessinsider.com time to read: +7 min

After a three-year hiatus, international cruise lines can resume sailings from China. AdvertisementAdvertisementRoyal Caribbean's Wonder of the Seas, once the world's largest cruise ship, was originally scheduled for year-round sailing from China. Then COVID-19 shut down the cruise industry and China blocked sailings from international cruise lines. Now, after a three-year hiatus, international cruise lines can resume sailings from China. Enter the Adora Magic City, the first Chinese-built and operated cruise ship.

Persons: —, Kun Cao, Reddal, James D, Morgan China, Cao, Joel Katz, Asia —, Michael Bayley, Bayley, Yang Guobing, Andy Stuart, Skift, it's Organizations: Service, Seas, Royal Caribbean, Magic City, Cruise, Royal Caribbean International, China China's, China State Shipbuilding Corporation, Carnival Corporation, Publishing, Getty Images, Viking Cruises, China Merchants Group, Royal, MSC, CSSC Carnival Cruise Shipping, Xinhua, Getty, Cruise Line, Global Times Locations: China, Shanghai, Fort Lauderdale , Florida, Southern, Magic, Caribbean, Asia, Australasia, CLIA, United States, Miami, Switzerland, Royal Caribbean, —, Norwegian, Alaska

☆ China appoints Lan Foan as new finance ministry party chief
▼ + stars: | 2023-09-28 | by ( ) www.reuters.com time to read: 1 min

The sign of China's Ministry of Finance is pictured in Beijing, China August 23, 2018. REUTERS/Jason Lee/File Photo Acquire Licensing RightsBEIJING, Sept 28 (Reuters) - China's Communist Party has appointed Lan Foan as the new finance ministry party chief, the ministry said in a statement on Thursday. Lan will replace Liu Kun as the party chief of the finance ministry, the statement said. Lan, 61, was previously the party chief of the northern Chinese Shanxi province. Reporting by Albee Zhang and Ella Cao and Beijing newsroom; Editing by Himani SarkarOur Standards: The Thomson Reuters Trust Principles.

Persons: Jason Lee, Lan Foan, Lan, Liu Kun, Liu, Albee Zhang, Ella Cao, Himani Sarkar Organizations: China's Ministry of Finance, REUTERS, Rights, China's Communist Party, Thomson Locations: Beijing, China, Rights BEIJING, Shanxi

☆ 'Narwhal' ship: Taiwan unveils first domestically built submarine as China threat grows
▼ + stars: | 2023-09-28 | by ( Eric Cheung | ) edition.cnn.com time to read: +9 min

“It is also important equipment for our naval forces in developing asymmetric warfare strategies.”“In the past, many people thought building an indigenous submarine would be an impossible task. Taiwan's president gives a speech at the launch ceremony of Taiwan's first domestically built submarine, in Kaohsiung on September 28. Tsai said the indigenous submarine project was “a top priority” of her administration. Video Ad Feedback Taiwan's military is preparing in case China attacks. But Taiwan’s indigenous military procurement program remains a lynchpin of its defense strategy, particularly when it comes to systems like anti-ship missiles that could defend against a potential invasion.

Persons: Tsai Ing, Kun, ” Tsai, “, Tsai, Taiwan's, Eric Cheung, Sandra Oudkirk, Washington’s, Admiral Huang Shu, kuang, Huang, ” Huang, Collin Koh, ”, Admiral Huang, Joe Biden, Donald Trump, Xi Jinping, Nancy Pelosi, Lee Teng Organizations: Taiwan CNN, Taiwan, CNN, National Security Council, Rajaratnam, of International Studies, PLA Navy, Party, US Pacific Fleet Locations: Kaohsiung, Taiwan, Taipei, Beijing, China, ”, Philippines, Japan, Singapore, Philippine, United States, Taiwan Strait, South Korea, India

“Russia’s thinly veiled threats to use nuclear weapons remind the world that escalation of the conflict – by accident, intention, or miscalculation – is a terrible risk. New Construction at Russia's Novaya Zemlya nuclear test site, June 22, 2023. Lop Nur nuclear test site. “The Chinese test site is different than the Russian test site,” Lewis said. Both countries keep their strategic nuclear arsenals on “hair-trigger” alert, meaning that nuclear weapons can be launched on short notice.

Persons: Jeffrey Lewis, James Martin, ”, Cedric Leighton, “, Vladimir Putin, ” Lewis, Lewis ’, António Guterres, ” Guterres, Dmitry Medvedev, Putin, Alexander Lukashenko, Sergei Shoigu, Lewis, we’ve, Leighton, they’d, ” Leighton, Nur, Hans Kristensen, Kristensen, Israel –, Dyess, Frederic J . Brown, Fiona Cunningham, Yang Kun, ” Daryl Kimball, Kimball, Michael Frankel, James Scouras, George Ullrich, Soviet Union –, Russia –, We’re Organizations: CNN, James, James Martin Center, Nonproliferation Studies, Middlebury Institute of International Studies, US, US Air Force, Atomic Scientists, Soviet Union, United Nations, Russia’s Security, Russian Defense Ministry, Planet Labs PBC, Middlebury, Science and Global Security, Novaya, Middlebury Institute, China Observer, China’s Foreign Ministry, Planet Labs, Nevada National Security, National Security Administration, US Department of Energy, Office, National Security Council, International Monitoring, Federation of American Scientists, Stockholm International Peace Research Institute, Missile Defense, Center for Strategic, International Studies, Columbia, Northrop Grumman's Air Force, Getty, Control Association, ACA, NGO, PLA, Nuclear, Carnegie Endowment, International, Arms Control Association, Johns Hopkins Applied Physics Laboratory, Soviet Locations: Russia, United States, China, Xinjiang, Nevada, . China, Moscow, Washington, Ukraine, Soviet, Belarus, Minsk, Novaya Zemlya, Zemlya, Soviet Union, Lop Nur, Japan, Lop, Beijing, Stockholm, United Kingdom, France, India, Pakistan, North Korea, Israel, Ellsworth, Palmdale , California, AFP, Yuli County, Mongol Autonomous Prefecture, Xinjiang Uygur Autonomous Region, Baltimore, Russian, Hiroshima

☆ North Korea's new missile sub looks kind of shoddy, but the US and its allies can't afford to ignore it
▼ + stars: | 2023-09-13 | by ( Chris Panella | ) www.businessinsider.com time to read: +7 min

On Friday, North Korea's state media announced the launch of its new "Korean-style" ballistic missile submarine. It's possibly the same Romeo sub that was being reworked when Kim visited the shipyard in July 2019. North Korea acquired some of them from China but also built some of its own. It also shows that North Korea is actively prioritizing new nuclear capabilities for its Navy. Although work would go slowly, it'll give North Korea another way to add to its nuclear strike power.

Persons: Kim Kun, Kim Jong, Kim, Bryan Clark, Tom Shugart, submariner, it's, it'll, Clark Organizations: Service, North, Sinpho, Shipyard, US Navy, Hudson Institute, Reuters, Korean, Navy Locations: Korea, North Korea, Wall, Silicon, South Korea, Japan, Koreans, Soviet Union, China, Korean

[1/7] People attend what North Korean state media report was the country's launching ceremony for a new tactical nuclear attack submarine, in North Korea, in this handout image released September 8, 2023. North Korea plans to turn its existing submarines into nuclear weapons-armed attack submarines, and accelerate its push to build nuclear-powered submarines, Kim said. North Korea has test-fired a number of submarine launched ballistic missiles (SLBMs) and cruise missiles that can be fired from submarines. It is also unclear whether North Korea has fully developed the miniaturised nuclear warheads needed to fit on such missiles. North Korea has a large submarine fleet but only the experimental ballistic missile submarine 8.24 Yongung (August 24th Hero) is known to have launched a missile.

Persons: Kim Jong Un, KCNA, Kim Kun, Kim, they've, Tal Inbar, Vladimir Putin, Yoon Suk, Premier Li Qiang, Soo, hyang Choi, Leslie Adler, Sandra Maler, Jonathan Oatis Organizations: North, KCNA, REUTERS Acquire, Rights, ., DPRK, Democratic People's, Carnegie Endowment, International, Missile Defense Advocacy Alliance, Twitter, South, Premier, Security, Thomson Locations: North Korea, Rights SEOUL, Japan, Democratic People's Republic of Korea, Korean, United States, South Korea, State, Korea, U.S, Russia, Moscow, Jakarta, Beijing

☆ North Korea says it launched new ‘tactical nuclear attack’ submarine
▼ + stars: | 2023-09-07 | by ( Hamdi Alkhshali | ) edition.cnn.com time to read: +1 min

CNN —North Korea launched a new “Korean-style tactical nuclear attack submarine” on Wednesday, according to the state-run Korean Central News Agency (KCNA), during a ceremony attended the country’s leader Kim Jong Un. The new submarine “will perform its combat mission as one of core underwater offensive means of the naval force of the DPRK,” Kim said during the ceremony according to KCNA. The submarine, named “Hero Kim Kun Ok,” would herald “the beginning of a new chapter for bolstering up the naval force of the DPRK,” KCNA reported. North Korean leader Kim Jong Un attends what state media report was a launching ceremony for a new tactical nuclear attack submarine in North Korea. North Korea is set to celebrate the 75th anniversary of the country’s founding on September 9.

Persons: Kim Jong Un, ” Kim, Kim Kun, “, ” KCNA, KCNA Organizations: CNN, Korean Central News Agency, DPRK, Democratic People’s, US, South Korean, North Locations: Korea, KCNA, Democratic People’s Republic of Korea, North Korea, United States, South Korea, Seoul

☆ US trip pays off for Taiwan VP with China drills more 'thunder than rain'
▼ + stars: | 2023-08-21 | by ( Ben Blanchard | ) www.reuters.com time to read: +5 min

China has a particular dislike of Lai, the frontrunner in polls ahead of January's presidential election, due to his previous comments about being a "worker for Taiwan independence". In his public events he talked about peace and dialogue, though he also said that Taiwan would not back down in the face of threats. "These drills were a lot of thunder, but less rain." 'NO SURPRISES'Lo Chih-cheng, a senior lawmaker for the ruling Democratic Progressive Party, said Lai's trip was also about the broader process of showing him to the United States as a steady and trustworthy leader. China could take other, trade-related, steps to punish Taiwan, having previously stopped Taiwanese fruit and fish imports.

Persons: William Lai, Carlos Garcia Rawlins, Lai, Ma Chen, Shen Dingli, Lai Ching, Lo Chih, cheng, Lo, Ko Wen, Xi Jinping, Ben Blanchard, Raju Gopalakrishnan Organizations: International Airport, REUTERS, Rights, Taiwan, U.S, Liberation Army, National Defence University, United States, Relations, Democratic Progressive Party, Taiwanese Public, National Taiwan Normal University's Graduate, of Political, Thomson Locations: United States, New York, Paraguay, Taoyuan, Taiwan, Rights TAIPEI, China, U.S, United, Shanghai, Taipei, Beijing, Washington, Asia

The move, which not been reported before, is the latest in tightening scrutiny of Chinese companies' offshore listings, and comes at a time when Beijing is stepping up controls over cross-border transfer of sensitive information. The Chinese law firms acting as IPO advisors have been asked to drop such boilerplate risk disclosures, said one of the people, who declined to be identified as the discussions were confidential. China's new offshore listing rules that came into effect on March 31 forbid any comments in the listing documents that "misrepresent or disparage laws and policies, business environment and judicial situation" of China. Representatives from the CSRC's International Cooperation Department, more than 10 Chinese law firms and other government and industry bodies attended the July 20th meeting, according to one of the people. Large domestic law firms Fangda Partners, Han Kun Law Offices，and Zhong Lun Law Firm were among the attendees, said two of the sources.

Persons: prospectuses, CSRC, Han, Zhong, Han Kun, Zhong Lun, Julie Zhu, Kane Wu, Selena Li, Sumeet Chatterjee, Tomasz Janowski Organizations: China Securities Regulatory Commission, CSRC's International Cooperation Department, Fangda Partners, Zhong Lun Law, Reuters, Thomson Locations: Beijing, China, United States, The China

☆ What China's resilient big spenders are buying and the stocks that benefit
▼ + stars: | 2023-07-16 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

That's approximately how large China's "premium" consumer population is – and it's a "huge" opportunity for higher-end sportswear by foreign companies, according to Bernstein. By U.S. standards, it doesn't take much to be considered premium in China. Adidas and Nike are like Benz, BMW, the highest end, he said, while the other brands are like Audi or Toyota. For Nike and Adidas, even their lowest price is two times that of local competitors, the Bernstein analysts said. However, focusing only on the premium growth segment can overlook the fact that many of China's consumers still live in smaller cities.

Persons: Bernstein, Aneesha Sherman, Li Ning, Irving, Miao Kun, –, Hoka, — CNBC's Michael Bloom Organizations: . Census, Anta Sports, Wednesday, basketball, Adidas, Nike, Benz, BMW, Audi, Toyota, Management, P Locations: China, That's, U.S, Hong Kong, Beijing, Thursday's, Germany, eyeing, Shanghai, Chengdu

☆ A Bond Built Over Coffee Leads to Success in Love and Business
▼ + stars: | 2023-06-30 | by ( Tammy Lagorce | ) www.nytimes.com time to read: +1 min

Erics Kun was fighting yawns the first few times he and Sahra Nguyen got together in the fall of 2016. After staying up all night in his bartending job, he couldn’t pass up the chance to see her for early morning coffee. Ms. Nguyen, whose family is from Vietnam, is the founder and chief executive of Nguyen Coffee Supply, which combines her appreciation for a bold cup of joe with her culture. Cafes in cities including New York and San Francisco use the company’s beans for their Vietnamese iced coffee. Inspiration for the brand, which started taking shape in 2016 before becoming official in 2018, arrived courtesy of the Brooklyn coffee shops Ms. Nguyen once hung out in as an independent documentary producer, writer and director.

Persons: Erics Kun, Sahra Nguyen, ” Mr, Kun, ‘, I’d, Ms, Nguyen Organizations: Nguyen Coffee, Foods Locations: Bushwick , Brooklyn, Vietnam, New York, San Francisco, Brooklyn

Star fund manager Zhang Kun, who manages nearly 90 billion yuan for Guangzhou-based E Fund Management, has seen his flagship 56 billion yuan Blue Chip Selected Mixed Fund lose 8% so far this year. The fund soared 95% in 2020 which attracted significant subscriptions and helped Zhang become China's first so-called "100 billion fund manager". Another high profile fund manager, Ge Lan at Lombarda China Fund Management, saw her flagship 28 billion yuan healthcare fund retreat 7% in 2021 and 23% in 2022, after a nearly 100% gain in 2020. "Not just mutual funds, the overall fund issuance is difficult, as this is closely connected with the economic situation," Steve Chen, partner of Shanghai-based hedge fund manager MX Capital. To boost market sentiment, some mutual funds announced fee cuts or started to purchase their own fund shares recently.

Persons: Thomas Peter HONG, Jiao Jinyuan, Zhang Kun, Zhang, Ge Lan, Emily Gao, Steve Chen, Debbie Dai, Dai, China Asset’s Jiao, Summer Zhen, Sumeet Chatterjee, Kim Coghill Organizations: REUTERS, Z, Ben Advisors, CSI, China Asset Management, Star, E Fund Management, China Fund Management, MX Capital, Thomson Locations: Beijing, China, Thomas Peter HONG KONG, Guangzhou, Shanghai

☆ How Samsung became the world’s No. 2 advanced chipmaker and set the stage for a U.S. manufacturing boom
▼ + stars: | 2023-06-09 | by ( Katie Tarasov | ) www.cnbc.com time to read: +5 min

In this article NVDAQCOM6758.T-JPAMATAMD2330-TW.FKRX300MUAAPL Follow your favorite stocks CREATE FREE ACCOUNTSamsung's $17 billion new chip fab is under construction in Taylor, Texas, on April 19, 2023. CNBC recently went inside Samsung's Austin chip fab, for the first in-depth tour given on camera to a U.S. journalist. Samsung got its start in 1938 as the Samsung Sanghoe Trading Company, founded by Lee Byung-chull in Korea. Just a decade after making its first memory chip, Samsung was coming to market with a version that had 1,000 times the capacity. As consumers rein in their spending in the face of rising inflation, demand for memory chips has weakened sharply.

Persons: Katie Brigham, Jon Taylor, Patel, Jinman Han, Han, Lee Byung, Lee Kun, Geoffrey Cain, weren't, Apple, Cain, Jay Y, Lee, Yoon Suk, Joe Biden, Jonathan Ernst Organizations: AMD, Samsung, Taiwan Semiconductor Manufacturing Company, Intel, they'll, CNBC, Austin, Samsung Sanghoe Trading Company, Samsung Samsung, Samsung Electronics, Samsung TV, Hankook Semiconductor, Apple, Republic of Samsung, Samsung Electronics Pyeongtaek, Reuters Locations: Taylor , Texas, TSMC, U.S, Korea, New Jersey, Silicon Valley, South Korea, Republic of, Austin , Texas, Texas, Austin, Pyeongtaek

WASHINGTON, May 16 (Reuters) - The speaker of Taiwan's parliament praised Japan, South Korea and the Philippines on Tuesday for helping to create a "crescent of defense" with Taiwan and the U.S. against China's ambitions in the Indo-Pacific region. You praised Japanese Prime Minister Fumio Kishida and South Korean President Yoon Suk Yeol for calling Taiwan a global issue and opposing a change to the status quo by force. "The crescent of defense formed by Korea, Japan, Taiwan and the Philippines will, with American support, be a key stabilizer of peace and security in the Indo-Pacific region," he added. China has been stepping up its military activities around Taiwan to try and force the democratically governed island to accept Beijing's sovereignty. It has never renounced the use of force to bring Taiwan under its control.

☆ This golden statue was ridiculed when a local government erected it. Then gold price skyrocketed.
▼ + stars: | 2023-05-11 | by ( Jake Kwon | ) edition.cnn.com time to read: +3 min

The county government decided it would erect a statue of bats – dubbed “golden bats” by savvy marketers – made from, as one could guess, pure gold. Then it took three years for renowned South Korean sculptor Byun Kun-ho to sculpt five golden bats flying through a massive silver ring. Its detractors viewed spending millions on a golden statue as a waste, while the county relies on subsidies for around 90% of its revenue. A local newspaper called the move a “flashy but hollow bureaucratic decision” that was “divorced from the local sentiment.”After an attempted heist, additional security has been installed to protect the golden statue. But the value of the golden statue has attracted unwanted attention too.

☆ Macron comments leave senior Taiwanese official 'puzzled'
▼ + stars: | 2023-04-12 | by ( ) www.reuters.com time to read: +2 min

TAIPEI, April 12 (Reuters) - Comments by French President Emmanuel Macron on Taiwan are puzzling, a senior Taiwanese politician said, wondering whether France's founding ideals of liberty, equality and fraternity are now out of fashion. He also called for the European Union to reduce its dependence on the United States and to become a "third pole" in world affairs alongside Washington and Beijing. Taiwan parliament speaker You Si-kun, writing on Facebook late Tuesday above a screengrab of a report about Macron's comments on Taiwan, questioned the French commitment to freedom. "Are 'liberté, égalité, fraternité' out of fashion?," he wrote, referring to the official French motto of "liberty, equality, fraternity". "The actions of President Macron, a leading international democracy, leave me puzzled."

☆ Senior US lawmaker says doing everything possible to speed up Taiwan arms deliveries
▼ + stars: | 2023-04-07 | by ( ) www.reuters.com time to read: +3 min

[1/5] Michael McCaul, Chairman of the U.S. House Foreign Affairs Committee, who is leading a delegation of US lawmakers visiting Taiwan, and Taiwan's Parliament Speaker You Si-kun, shake hands during a news conference at the parliament in Taipei, Taiwan April 7, 2023. REUTERS/Carlos Garcia RawlinsTAIPEI, April 7 (Reuters) - A senior U.S. lawmaker said on Friday he was doing everything possible to speed up the delivery of weapons to Taiwan, suggesting other countries that have the arms could sell them onto the island with U.S. government permission. Taiwan has since last year complained of delays to U.S. weapons deliveries, such as Stinger anti-aircraft missiles, as manufacturers turn supplies to Ukraine to support its defence against Russia. "On the weapons issue, I sign off on those deliveries and we are doing everything in our power to expedite this," he said, speaking at Taiwan's parliament where he met its speaker, You Si-kun. While China staged war games around Taiwan in August after then-Speaker Nancy Pelosi visited Taipei its reaction this time has been more muted.

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