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Land Minister Won Hee-ryong said that the government would consider deploying military trucks to areas needed for urgent transport. The Korea Oil Station Association is asking gas station owners to secure enough inventory ahead of the strike, an association official said on Wednesday. "We learned some lessons from the last strike," said the official, who declined to be named because of the sensitivity of the issue. The transport ministry had said some 7,000 people participated in the June strike, while the union said more than 22,000 took part. The Korea International Trade Association, a shippers' body, said on Wednesday that it has created a task force to handle any disruptions and minimise trade damage.

☆ Tesla safety at centre of South Korean trial over fiery, fatal crash
▼ + stars: | 2022-11-20 | by ( Ju-Min Park | ) www.reuters.com time to read: +9 min

SEOUL, Nov 21 (Reuters) - In an upscale Seoul neighbourhood two years ago, a white Tesla Model X smashed into a parking lot wall. The criminal trial about to begin in South Korea hangs on questions about the safety of Tesla cars, at a time when the EV maker faces a range of lawsuits and increased scrutiny by regulators. A lawyer for the family of Yoon Hong-geun, who owned the car and died in the crash, declined to comment. Tesla sold 17,828 vehicles in South Korea in 2021, registration data shows. Judge Park Won-gyu said that he plans to call Tesla engineers to testify and that the safety of Tesla vehicles would be examined at trial.

It was a rare, candid glimpse of the Chinese leader and a reminder of Beijing's testy relations with the West. Besides Biden, Trudeau and Australia's Anthony Albanese, Xi also met the leaders of South Korea, Italy, Argentina, Holland and France for bilateral talks in Bali. Xi was ferried around Bali in his own Hongqi (Red Flag) limousine - Mao Zedong used an earlier model - China's version of the U.S. presidential "Beast" limo. Returning to in-person diplomacy also gives Xi a platform to push Chinese initiatives that further cement its stature as leader of the emerging world. "I think in the coming years you'll see China indeed making a serious effort to implement its major power diplomacy," he said.

☆ If you can't afford to buy a home right now, a 'renter for life' Yale economist explains why renting forever might be the smarter option anyway
▼ + stars: | 2022-11-15 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +7 min

A Yale economist says, for some Americans, renting might be the better financial decision anyway. That's according to Yale economist James Choi, who said on a recent Freakonomics Radio podcast that he's a "renter for life." It comes as rent prices are also beginning to fall across the US. This makes it difficult to assess a home's "financial risks," Choi says. While Choi is a "renter for life," he acknowledges that for many Americans, owning a home is about more than just the investment itself.

☆ Ballet dancers who fled Russia reunite on California stage
▼ + stars: | 2022-11-12 | by ( Rollo Ross | ) www.reuters.com time to read: +3 min

REUTERS/Mike BlakeCOSTA MESA, Calif., Nov 11 (Reuters) - Xander Parish is a British-born ballet dancer who was a principal dancer at the Mariinsky Ballet in St Petersburg, Russia. Other international dancers based in Russia also fled, leaving behind their lives, jobs and belongings. Now, for one night, the dancers from the Mariinsky, the Bolshoi and other elite Russian companies are reuniting with a performance on Saturday in Costa Mesa, California. Although the corps de ballet will be together only for one night's performance, Parish already has plans for them to do more. "Reunited in Dance" will be performed at the Renee and Henry Segerstrom Concert Hall in Costa Mesa.

☆ A Yale economist says a risky type of mortgage that contributed to the 2008 crash could save you money in the long run — if you can stomach uncertainty
▼ + stars: | 2022-11-02 | by ( Jacob Zinkula | Alcynna Lloyd | ) www.businessinsider.com time to read: +6 min

Most Americans have a fixed rate mortgage, meaning their interest rate stays steady over time. A Yale economist says adjustable rate mortgages can help borrowers save money on interest in the long run. They're less predictable than fixed-mortgages, but are attractive due to their potential to take advantage of times when interest rates are low. "For most people, the adjustable rate mortgage is preferable unless the fixed rate mortgage rate is at a historic low or if you're really stretching your budget to buy your home," Choi said. Ultimately, even if the long-term odds are in the borrower's favor, an adjustable rate mortgage carries its risks.

SEOUL, Oct 30 (Reuters) - With "Hooker Hill" and snaking alleyways of bars with signs like "BADASS" around the local landmark Hamilton Hotel, Seoul's Itaewon district was a symbol of freewheeling nightlife in the South Korean capital for decades, before tragedy struck. "This happened right at the moment when we were about to rebound after being hammered by the pandemic," said Lee, who has operated Itaewon businesses for three decades. A mysterious killing called the "Itaewon Murder" and other crimes in the late 1990s painted a dark image of the area. The district has been a recurrent theme in popular culture, with a recent hit drama "Itaewon Class" and K-pop song "Itaewon Freedom". They won't," said Park, who has run businesses in the district for nearly 30 years.

☆ Two dead, 22 others suffer cardiac arrest in stampede in South Korea
▼ + stars: | 2022-10-29 | by ( Soo-Hyang Choi | ) www.reuters.com time to read: +1 min

SEOUL, Oct 30 (Reuters) - At least two people died from cardiac arrest and dozens of others were injured after a huge crowd poured into a central district of the South Korean capital for Halloween festivities late on Saturday, a fire official said. As of early Sunday, two were reported dead among 24 who had been transferred to nearby hospitals after suffering cardiac arrest in the incident in the Itaewon district strict, Moon Hyun-joo, an official at the National Fire Agency said. Yonhap news agency said at least 100 were estimated to have been injured due to the stampede. Authorities were investigating the exact cause of the incident, the agency said. Reporting by Soo-hyang Choi and Choonsik Yoo, Editing by Angus MacSwan and Clelia OzielOur Standards: The Thomson Reuters Trust Principles.

Kakao shares plunged as much as 9.5% on Monday to their lowest since May 2020, wiping out 2 trillion won ($1.39 billion) in market capitalisation at one point, while shares in affiliates KakaoPay (377300.KS) and KakaoBank (323410.KS) lost more than 8% before paring losses. South Korea's technology ministry is probing whether the outage violated any laws while the communications regulator is reviewing the matter, including questions of user compensation, officials said on Sunday. An initial probe on Sunday found electrical issues around battery racks in third basement floor of the data centre, which is operated by SK C&C (034730.KS), may have caused the fire. REPUTATIONAL HITThe Kakao messaging application and the Kakao T taxi booking application are seen on a mobile phone in this illustration photo March 13, 2018. It said on Monday it would discuss compensation with data centre operator SK C&C for losses it and its key units have sustained.

☆ Kakao shares slump as outage sparks calls for regulatory scrutiny
▼ + stars: | 2022-10-17 | by ( Joyce Lee | ) www.reuters.com time to read: +5 min

Kakao shares plunged more than 9% on Monday to their lowest since May 2020, while shares in Kakao affiliates KakaoPay (377300.KS) and KakaoBank (323410.KS) also plunged more than 8% in morning trade. Police and the National Forensic Service are conducting a second investigation on Monday at the data centre, which is operated by SK C&C (034730.KS). After an initial probe on Sunday, police said electrical issues around battery racks in third basement floor of the data centre may have caused the fire. It said in a regulatory filing on Monday that after it normalises services, it will discuss compensation with data centre operator SK C&C for losses sustained by Kakao and its key units. A Kakao spokesperson declined to provide the total number of servers it uses, citing security concerns.

☆ Vietnam downgrades Typhoon Noru to tropical storm, but warns of flood risks
▼ + stars: | 2022-09-28 | by ( ) www.reuters.com time to read: +1 min

HANOI, Sept 28 (Reuters) - Vietnam on Wednesday downgraded Typhoon Noru to a tropical depression, but warned residents to stay on alert because of the risks from flooding and landslides caused by heavy rain, the government said. The storm made landfall in the early hours with winds of 117kph (72mph) in the province of Quang Nam, home to the historic city of Hoi An and resort of Danang, the weather agency told state media. There were no immediate reports of casualties, but photographs posted on social media and on state media showed downed trees and mudslides blocking roads. Vietnam is also vulnerable to destructive storms and flooding because of its long coastline. Natural disasters - predominantly floods and landslides triggered by storms - killed 139 people and injured 150 others in the country last year, official data showed.

Residents who evacuated from their flooded homes sit on a roadside after Super Typhoon Noru, in San Ildefonso, Bulacan province, Philippines, September 26, 2022. REUTERS/Eloisa LopezHANOI, Sept 27 (Reuters) - Vietnam urged more people on Tuesday to evacuate as an intensifying Typhoon Noru barrelled towards the southeast Asian nation, after causing at least eight deaths and widespread flooding in the Philippines. The typhoon forced airports in Vietnam to close, causing travel disruption, while thousands were forced to evacuate their homes, according to official statements. Typhoon Noru, the strongest storm to hit the Philippines this year, also damaged 1.53 billion pesos ($26 million) worth of crops, government data showed. read more"There are still areas with floods," Daniel Fernando, governor of Bulacan province north of the capital, told DZRH.

Register now for FREE unlimited access to Reuters.com RegisterU.S. Vice President Kamala Harris speaks as she holds a bilateral meeting with Australia’s Prime Minister Anthony Albanese (not pictured) in Tokyo, Japan, September 27, 2022. REUTERS/Leah Millis/PoolTOKYO/SEOUL, Sept 27 (Reuters) - U.S. Vice President Kamala Harris told South Korea's prime minister on Tuesday that Washington will work to address Seoul's concerns over recently enacted electric vehicle (EV) subsidies that could disadvantage Asian automakers. Among the law's provisions are requirements that EVs be assembled in North America to qualify for tax credits. read more"The Vice President and Prime Minister discussed our shared work to address the climate crisis, including the historic investments made in clean energy under the Inflation Reduction Act," the White House added. Cars are South Korea's third-largest export.

☆ New Yorker moves to Vietnam to help at-risk youth
▼ + stars: | 2018-05-10 | by ( Allie Torgan | ) edition.cnn.com time to read: +6 min

Hoi An, Vietnam CNN —New Yorker Neal Bermas had traveled around the world, but Vietnam literally stopped him in his tracks. The organization provides at-risk young people with a rigorous 18-month training program, preparing them for careers in Vietnam’s booming culinary and hospitality industries. “We offer them a structured program and a very rich apprenticing experience.”STREETS’ participants range in age from 16 to 22. The group provides housing, meals, medical care, clothing and support services to help trainees gain skills and confidence for employment at top resorts. Bermas said 100% of STREETS graduates have found employment, mostly at four- and five-star hotels in Vietnam.

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