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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChina will likely meet its GDP target but it won't be enough for the market: CIOSamuel Rhee, chairman and CIO of Endowus, discusses the outlook for the Chinese market.
Persons: Samuel Rhee Organizations: China, Endowus
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBank of Korea chief: We're not cutting rates yet as headline inflation is 'quite sticky'Rhee Chang-yong, governor of the Bank of Korea, says "our problem is that unlike U.S. and Europe, our headline inflation is higher than core inflation."
Persons: We're, Rhee Chang Organizations: Email Bank of Korea, Bank of Locations: Bank of Korea, Europe
The Bank of Korea will intervene to control currency volatility if needed, the central bank's chief told CNBC, describing the recent market fluctuations as a little "excessive." Central bank governor Rhee Chang-yong said external factors are fueling the Korean won 's movement. Rhee attributed the won's weakness to the strength of the U.S. dollar as well as geopolitical tensions in the Middle East. Weakness in other Asian currencies like the Japanese yen and Chinese yuan are also affecting the won, he added. The won strengthened on Wednesday to as high as 1,382.6 per dollar, up 1.26% after hitting a 17-month low and breaching a major threshold of 1,400 per dollar on Tuesday.
Persons: Rhee Chang, CNBC's Karen Tso, Rhee Organizations: Bank, CNBC, Korean, U.S Locations: Korea, Washington
Appointment cancellations and financial distress have become a constant at Bethesda Pediatrics, a nonprofit medical clinic in East Texas that is heavily dependent on Medicaid, the health insurance program for the poor. On a recent Monday, the mother of a toddler who had a primary care appointment broke down in tears after learning the child had just lost Medicaid coverage, wondering how she could pay the bill. Another mother told Dr. Danny Price, the clinic’s lead pediatrician, that she was afraid to get her child a flu shot because of the $8 fee she would have to pay now that the child had been dropped from Medicaid. A child with depression did not show up, most likely, Dr. Price presumed, because of having lost Medicaid coverage. The loss of coverage has not only affected families, but is also threatening the financial stability of vital components of the American safety net.
Persons: Danny Price, Price, , Kyu Rhee Organizations: Bethesda Pediatrics, Medicaid, National Association of Community Health Centers Locations: East Texas, Tyler , Texas, United States
“I feel comfortable.”Plaza del Sol is one of two dozen sites run by Urban Health Plan Inc., which is one of nearly 1,400 federally designated community health centers. Sometimes, it’s just that.”Fifty years ago, Dr. Acklema Mohammad started as a medical assistant in Urban Health Plan’s first clinic, San Juan Health Center. About 150 elders get at-home visits, said Dr. Manuel Vazquez, Urban Health Plan’s vice president of medical affairs who oversees the home health program. Building community trustOne of the nation’s first community health centers opened in the rural Mississippi delta in 1967, in the wake of the Civil Rights Movement’s Freedom Summer. Delta Health Center in Mound Bayou, Mississippi today operates the health center has 17 locations in five counties, including free-standing clinics and some in schools.
Persons: Elisa Reyes, ” Reyes, they’ve, Matthew Kusher, ” Kusher, , , Kyu Rhee, Yelisa Sierra, “ It’s, Sierra, Acklema Mohammad, Mo, pediatricians, ” Mohammad, telehealth, Manuel Vazquez, isn’t, , there’s, Temika Simmons, New York City’s, Angelica Flores, DaSilva, they’re, ” Simmons, You've, Kasturi Pananjady, Robert Wood Johnson Organizations: del, Family Health, Urban Health, Inc, Associated Press, U.S . Health Resources, Services Administration, , National Association of Community Health Centers, Urban Health Plan’s, San Juan Health Center, El Nuevo San Juan Health Center, Civil, Delta Health Center, Delta Health Center’s, Staff, Press, Associated Press Health, Science Department, Robert Wood Johnson Foundation, AP Locations: Queens, Sol, U.S, El Nuevo, Mississippi, Mound Bayou , Mississippi, Leland, Greenville, Jackson, Memphis, del Sol, Corona, New York, In Mississippi
Steven Yeun plays Danny Cho, a down on his lucky handyman who lives with his younger brother. Steven Yeun plays Danny Cho in "Beef." Kayla Oaddams/WireImage; Andrew Cooper/NetflixYeun, who also served as an executive producer on "Beef," was most recently nominated for an Academy Award for his performance in the 2020 film "Minari." He also starred in the 2018 film "Burning," and famously played Glenn Rhee on "The Walking Dead." Yeun is also known for his voice acting roles in series like "Voltron: Legendary Defender," the "Tales of Arcadia Series," and "Tuca & Bertie," in which he costarred with Ali Wong.
Persons: Steven Yeun, Danny Cho, Kayla Oaddams, Andrew Cooper, Netflix Yeun, Glenn Rhee, Tuca, Ali Wong Organizations: Netflix
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGenerative AI cannot be used to 'beat the market,' says fintech companySamuel Rhee, chairman and chief investment officer of Endowus, dispels some of the myths about generative artificial intelligence.
Persons: Samuel Rhee
Posco, which invests through those funds, will work with EnergyX to help its technology reach commercial production, the companies said. The companies declined to say how much of the EnergyX Series B that the consortium is funding. Reuters reported in April that the EnergyX Series B is being led by General Motors (GM.N). Allkem (AKE.AX), Livent (LTHM.N) and others produce lithium nearby. In addition to working with Posco, EnergyX is looking for Argentine brine deposits to purchase, Egan said, though he declined to be more specific.
Persons: Kim Hong, EnergyX, Jaeho Rhee, Posco's Sal, Teague Egan, Posco, Egan, China's CATL, Ernest Scheyder, Stephen Coates Organizations: REUTERS, South, Posco Holdings, EnergyX, Elohim Partners, IMM Investment, Reuters, General Motors, EnergyX's, GM, Thomson Locations: Seoul, South Korea, KS, Argentina, Oro, Argentina's Salta Province, Posco's, Posco, Chile, Bolivia, South
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe South Korean economy has been complacent because of China, central bank governor saysRhee Chang Yong, governor of the Bank of Korea, discusses South Korea's growth outlook and the country's need for structural reform.
Persons: Rhee Chang Yong Organizations: Bank of Korea Locations: China
[1/2] South Korean President Yoon Suk-yeol attends the ASEAN-South Korea Summit at the Association of the Southeast Asian Nations (ASEAN) Summit in Jakarta, Indonesia, September 6, 2023. In South Korea, the label of communist carries higher stakes than in many Western democracies with the ongoing threat from ostensibly communist North Korea and Cold War-era laws that effectively ban activities deemed related to communism. “There is a legitimacy problem for Yoon in the sense that the gap between popular opinion in South Korea and what is being pursued internationally is increasing," Gray said. In a speech earlier this month, Yoon said South Korea's freedom is "under constant threat" from "communist totalitarian and anti-state forces" who are critical of South Korea's deepening ties with the U.S. and Japan. "The president keeps emphasizing the threat from communist forces which don't exist," a spokesperson for the Democratic Party said at a briefing last week.
Persons: Yoon Suk, yeol, Tatan, Yoon's, Yoon, Kevin Gray, Gray, Andrew Yeo, Yeo, Benjamin Engel, Engel, Rhee Jong, " Rhee, Rhee, Hyunsu Yim, Josh Smith, Lincoln Organizations: South, ASEAN, South Korea Summit, Association of, Southeast Asian Nations, Rights, U.S, University of Sussex, Liberation, Democratic Party, Gallup, Brookings Institution, Korean Confederation of Trade Unions, National Security, Seoul National University, Thomson Locations: South Korean, Jakarta, Indonesia, Rights SEOUL, South Korea, North Korea, Japan, Tokyo, Seoul
"He has decided to take an approach not of trying to convince people but to label the opposition as being somehow an anti-state, communist totalitarian force." In a speech earlier this month, Yoon said South Korea's freedom is "under constant threat" from "communist totalitarian and anti-state forces" who are critical of South Korea's deepening ties with the U.S. and Japan. "The president keeps emphasizing the threat from communist forces which don't exist," a spokesperson for the Democratic Party said at a briefing last week. The presidential office declined to comment on Yoon's description of critics of his policies as "communists". Given his low approval ratings, analysts say labelling his opponents as communists may still be useful for Yoon to hold onto his party's conservative base.
Persons: Hyunsu Yim, Yoon Suk, Yoon's, Yoon, Kevin Gray, Gray, Andrew Yeo, Yeo, Benjamin Engel, Engel, Rhee Jong, " Rhee, Rhee, Lincoln Organizations: U.S, University of Sussex, Liberation, Democratic Party, Gallup, Brookings Institution, Korean Confederation of Trade Unions, National Security, Seoul National University Locations: Hyunsu Yim SEOUL, South Korea, North Korea, Japan, Tokyo, Seoul
"We were paying for it ourselves and I really did not want to go into debt for a wedding," Janet Counts previously told CNBC. For instance, Janet Counts financed her wedding last year on payment plans. "Even if we put it on a credit card, it was nice not to have to do any payment conversations on the wedding day." 2. Credit card rewards may be usefulSome credit cards offer rewards a couple can later use for their honeymoons. The average credit card interest rate is currently above 24%, as of Aug. 14, the highest since 2019, according to LendingTree.
Persons: Peter Dazeley, Jason Rhee, Janet, Brian Counts, Janet Counts, Rhee, Keira01 Organizations: Bank, Getty, Front Royal, CNBC, Istock Locations: Los Angeles, Front, Front Royal , Virginia
Peopleimages | Istock | Getty ImagesWhile many young couples may hope to tie the knot one day, some are spooked by high costs. Some three-quarters, or 75%, of Gen Z and millennial couples said it's too expensive to get married in the current economy, according to a survey by the Thriving Center of Psychology. The center polled 906 unmarried Gen Z and millennial pairs in June. Gen Z recognizes that weddings are expensive, but the majority, or 66%, say it will be worth the cost, The Knot found in forthcoming research. "It's really important for couples to figure out what they want out of a wedding," said Counts.
Persons: Gen Z, Gen, Janet Counts, Brian, Jason Rhee, Rhee, Couples, , Ольга Носова Organizations: Istock, Psychology, Royal Locations: Royal , Virginia, California
Opinion: The shattering aftermath in Maui
  + stars: | 2023-08-13 | by ( Richard Galant | ) edition.cnn.com   time to read: +16 min
CNN —The Polynesian demigod Maui was so powerful he could raise islands up from the ocean floor and capture the sun to slow it down. We know Lahaina will be rebuilt, and the government response — city, state and federal — will be a huge part of that. “You can beat the drum of ‘women’s rights’ and defend tooth-and-nail women’s sports, so long as you only do so to denigrate trans women.”For more on the World Cup:Shaista Aziz: This Women’s World Cup has been unlike any other. That’s a great thingAmy Bass: The US loss at the Women’s World Cup sends a clear messageBill Bramhall/Tribune Content AgencyLet’s make a deal? In a country where federal prosecutors overwhelmingly win their cases, Trump’s odds of going to trial and winning both federal cases are slim — and he may face similarly daunting odds in the other cases.
Persons: Bill Weir, Jeff Melichar, ” Clay Jones, Melichar, , Shaw, Naka Nathaniel, Kaua’i “, , ALICE, Lawrence Downes, ” Drew Sheneman, Peter Bergen, Laura Tillman, ” “, David Petraeus, ” Bergen, Tillman, Donald Trump’s, Joe Biden’s, ” Mary Ziegler, ” Ziegler, Roe, Patrick T, Brown, Wade, Kevin McCarthy, Biden, “ Biden, Julian Zelizer, ” Dana Summers, Donald Trump, Podcaster Megyn Kelly, “ I’m, Nicole Hemmer, Megan “ Rapinoe, Kelly, Shaista Aziz, Amy Bass, Bill Bramhall, Will Handelsman, it’s, Trump, William D, Cohan, Puck, David Rubenstein, Scott Galloway, Jill Filipovic, “ Trump, Galloway, pardoning, ” Filipovic, , Jesus, Kelli Rhee, Rhee, ” Don’t, Drew Sheneman, Agency Brian Elmore, Sen, Elizabeth Warren, Adam Kinzinger, Ukraine Aanchal Saraf, Rebecca H, Oppenheimer’s, Joseph, I’ll, Neil J, Holly Thomas, Sara Stewart, “ Oppenheimer, Christopher, “ Barbie, “ Barbie ”, ” Stewart Organizations: CNN, Coast Guard, Honolulu Civil, , Aloha, New York Times, , Agency, UN, Republican, GOP, , Republicans, Democratic, Federal, FIFA, US, National Soccer Team, New York University, Trump, Arnold Ventures, Ukraine Aanchal, Warner Bros . Locations: Maui, Lahaina, Hawaii, Naka, Hilo, Kaua’i, Afghanistan, Afghanistan’s, Kabul, Ohio, California , Vermont, Michigan, Georgia, Trump, Ukraine
Sixty-one percent of couples set to marry this year said the economy has already impacted their wedding plans, and the soon-to-be-wed have become savvier as they confront higher costs. said Jason Rhee, director of celebrations and owner of Rheefined Company, a wedding and special events planner in Los Angeles. Couples are renting flowers, jewelry and moreZoom In Icon Arrows pointing outwardsLaken Swan and Lauren Bercier founded Something Borrowed Blooms in 2015 after dealing with high costs for their own weddings. Bercier, in particular, suffered buyer's remorse on her wedding day — after putting down the full deposit for fresh flowers, the blooms that arrived on her wedding day weren't exactly what she'd had in mind, said Swan. "It's only natural that they're rethinking what their wedding day might look like."
Persons: Della Larca, nuptials, Jason Rhee, Laken Swan, Lauren Bercier, she'd, Swan, Bercier, Larca, Miriam Williams, Laine London, Williams, Rhee Organizations: Rheefined Company, Rheefined Locations: Butler , New Jersey, Los Angeles, New York, Atlanta
The Bank of Korea (BOK) said its seven-member monetary policy board voted to keep the base rate (KROCRT=ECI) unchanged at 3.50%, as it did in meetings in February, April and May. "The Board will maintain a restrictive policy stance for a considerable time with an emphasis on ensuring price stability," the BOK said in a statement. The BOK has kept monetary policy unchanged since its last interest rate hike in January and its tightening campaign, which began in August 2021, is widely expected to be over. The rate stood at 2.7% in June this year, although it is still higher than the central bank's medium-term target of 2%. South Korea's import prices fell in annual terms for a fifth month in June and marked the steepest drop in more than eight years, central bank data showed earlier on Thursday.
Persons: BOK, Governor Rhee Chang, Jihoon Lee, Joyce Lee, Jacqueline Wong Organizations: Bank of Korea, Reuters, Thomson Locations: SEOUL, China
Francois Lochon | Gamma-rapho | Getty ImagesCentral banks in Asia could start cutting rates earlier than the Federal Reserve, economists at Nomura predicted. "Our view of Asian central banks cutting policy rates ahead of the Fed in this cycle is based on the fundamental divergences between Asian and U.S. economies," Nomura economists wrote. China's producer prices have already entered deflation territory, while South Korea's inflation hovered around 2.7%, nearing its central bank's target. Seoul could start cutsNomura expects the Bank of Korea to be one of the first central banks after China to cut rates. They pointed to the central bank's governor Rhee Chang-yong shrugging off investor concerns about a weakening South Korean currency.
Persons: Francois Lochon, Sonal Varma, Nomura, lockdowns, BOK, Rhee Chang, Rhee Organizations: Getty, Federal Reserve, Nomura, Federal, Bank of, CNBC, Korean, U.S Locations: Seoul, South, Asia, U.S, China, sputter, Indonesia, Philippines, India, Korea, Singapore, Bank of Korea
A New Line of Subtle, Glamorous Clothes
  + stars: | 2023-06-23 | by ( Kate Guadagnino | ) www.nytimes.com   time to read: 1 min
That doesn’t mean she’s naïve about the pace of fashion or New York, though. She’s looking forward to expanding into knitwear and, when she talks about her client, which is often — Rhee is the kind of designer who never forgets that her designs will be worn — she describes her, first and foremost, as a woman in motion. Toward the end of the look book for this first offering, which is available for preorder on the brand’s website, there is a four-panel grid of images that read like film stills: A woman in a suede and leather patchwork coat approaches a tree; then she passes behind it and less and less of her is visible behind its trunk until, in the last photo, she is gone. “She has to be able to imagine herself walking around the city and going places,” says Rhee. In other words, she has to be able to imagine herself living, which happens to be the name of the collection.
Persons: — Rhee, , Rhee Locations: New York, knitwear
WASHINGTON, June 22 (Reuters) - The U.S. Energy Department plans to lend up to $9.2 billion to a joint venture of Ford Motor (F.N) and South Korea's SK On to help it build three battery plants in Tennessee and Kentucky. The conditional commitment for the low-cost government loan for the BlueOval SK joint venture comes from the government's Advanced Technology Vehicles Manufacturing (ATVM) loan program. The joint venture is building three battery manufacturing facilities in Kentucky and Tennessee capable of collectively producing more than 120 gigawatt hours annually, the Energy Department said. This is the sixth loan for battery supply chain projects from the ATVM program. Last year, the department awarded a joint venture of General Motors (GM.N) and LG Energy Solution (373220.KS) $2.5 billion to help finance construction of new lithium-ion battery cell manufacturing facilities.
Persons: Jigar Shah, Dave Webb, Robert Rhee, Ford, Jim Farley, Tesla, David Shepardson, Toby Chopra, David Evans, Alexander Smith Organizations: U.S . Energy Department, Ford Motor, Korea's SK, BlueOval SK, Technology Vehicles Manufacturing, SK, South Korea's SK Innovation, Energy Department, Energy, Ford, Lincoln, Republican, Republicans, Biden, General Motors, LG Energy, Ultium Cells, Thomson Locations: Tennessee, Kentucky, South, United States, KS, Ohio , Tennessee, Michigan, Fremont , California
June 19 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Looking ahead and beyond China, investors have two other Asian monetary policy decisions this week to digest - Indonesia's Bank Indonesia (BI) and the Philippines Bangko Sentral ng Pilipinas (BSP) on Thursday. Both are likely to leave policy unchanged, with BI maintaining its benchmark lending rate at 5.75% and the BSP keeping its key policy rate at 6.25%. The broader market tone across Asia on Monday could be one of caution, with investors tempted to take some profits from the recent rally. The annual core CPI rate is expected to ease to 3.1% from 3.4% in April.
Persons: Jamie McGeever, Antony Blinken's, Bank of Korea Governor Rhee Chang, Antony Blinken, Leslie Adler Organizations: People's Bank of, Indonesia's Bank Indonesia, Sentral ng Pilipinas, BI, BSP, Bank of Japan, Bank of Korea, Thomson, Reuters Locations: U.S, People's Bank of China, Beijing, American, China, Philippines, Asia, Japan, Hong Kong
Bloomberg | Bloomberg | Getty ImagesChina's lackluster economic recovery since emerging from strict "zero-Covid" lockdowns has caused weaker sentiment toward the country, prompting investors to look for alternative options — like its near neighbors. Higher targets for JapanForeign investors have undoubtedly been key in driving the Japanese market, maintaining the highest levels the Nikkei has seen since 1990. During the same period last year, foreign investors had sold a net 1.73 trillion yen approximately. Wall Street banks including Morgan Stanley and Societe Generale are among those that are optimistic on Japanese stocks, holding "overweight" positions. Upside for Korea tech stocksSouth Korea is another market closely watched as concerns over China's recovery linger.
Persons: Goldman, Andrew Tilton, Berkshire Hathaway's Warren Buffett, India's, Goldman Sachs, Tilton, Morgan Stanley, ROE, Mike Wilson, we've, Price, Goldman's Tilton, Rhee Chang, Nomura, Chloe Andrieu, Pranjul Bhandari, Bhandari Organizations: Bloomberg, Getty, Asia, Pacific, Japan Foreign, Nikkei, Japan's Ministry of Finance, Societe Generale, Equity, U.S, UBS Global Wealth, U.S ., UBS, The Bank of, CNBC, Citi, AFP, Afp, Korea Financial Investment Association, South Korean, Fitch, Ben Advisors Locations: Macau, China, Japan, South Korea, India, Goldman Sachs, Berkshire, South, Shanghai, Shenzhen, Wall, Korea, Asia, The Bank of Korea, Fuyang, China's, Anhui, Indonesia
Last year the former leader of Yoon’s party hit out at what he said was the “evil influence” YouTube channels. “After President Yoon Suk Yeol came to power, there have been many cases where the presidential office filed complaints to the media,” Jung said. It has since consistently ranked top in terms of real-time daily viewership on YouTube in South Korea. To Professor Jung, it’s a success that demonstrates “voices cannot be silenced.”Kim, meanwhile, hopes to build a show with as much recognition as any on traditional media. “I will create a type of press that has not yet existed on YouTube,” Kim said.
Rhee Chang-yong, governor of the Bank of Korea, at an event during the spring meetings of the International Monetary Fund (IMF) and World Bank in Washington, DC, US, on Friday, April 14, 2023. Bank of Korea Governor Rhee Chang-yong says it's too early to start talking about rate cuts. The South Korean central bank was one of the first to pause its tightening cycle, spurring market speculation that it could soon begin cutting rates. But Rhee told CNBC's Chery Kang at the Asian Development Bank's annual meeting Incheon that those expectations are "premature." "We paused our interest rate [hikes] in the last two meetings because we have increased our interest rate by 300 basis points in 1½ years, very fast in pace.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIt's premature to talk about a pivot to cutting interest rates, says Bank of Korea chiefRhee Chang-yong, Bank of Korea governor, says the central bank has made it clear that core inflation is still well above its target.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe distribution of financial products in Asia is quite broken, says digital wealth advisorSamuel Rhee of Endowus says there are many commissions embedded into the cost of investing.
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