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☆ S.Korea tells China ambassador it hopes for continued economic cooperation
▼ + stars: | 2023-05-19 | by ( Choonsik Yoo | ) www.reuters.com time to read: +1 min

SEOUL, May 19 (Reuters) - South Korea's finance minister on Friday met the Chinese ambassador and discussed economic cooperation, as diplomatic tensions with Beijing put an additional dent on the already sluggish economy. The ministry said in a short message after the 30-minute meeting that Minister Choo Kyung-ho expressed his hopes for continued economic cooperation between the two countries on the basis of reciprocity and mutual respect. Choo, South Korea's highest economic and financial policymaker, also asked for support for preparations ahead of a bilateral economic ministers' meeting this year in Seoul, the statement added. The ministry did not disclose remarks by Ambassador Xing Haiming during the meeting, which was held after South Korea's ambassador to Washington said early this month Seoul would soon pursue senior-level engagements with Beijing. Share prices of South Korean companies with exposure to China business rose on Friday, with media content producer CJ ENM (035760.KQ) jumping 2.5% and online game developer Netmarble (251270.KS) rising 1.5%.

☆ South Korea signs $130 mln aid package with Ukrainian minister
▼ + stars: | 2023-05-17 | by ( ) www.reuters.com time to read: +1 min

[1/2] South Korean Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-ho speaks during an interview with Reuters in Incheon, South Korea, May 3, 2023. REUTERS/Kim Hong-JiSEOUL, May 17 (Reuters) - South Korea signed an agreement with Ukraine on Wednesday on its plan to provide a $130 million financial aid package, a day after the visiting first lady of the war-hit country asked for military assistance. South Korea's finance ministry said Minister Choo Kyung-ho and Ukrainian Economy Minister Yulia Svyrydenko, in Seoul to attend a conference, signed the agreement on the package, which will consist of donations and aid loans. South Korea, a major producer of artillery shells, has said it was not providing lethal weapons to Ukraine, citing its relations with Russia. Reporting by Choonsik Yoo; Editing by Christian SchmollingerOur Standards: The Thomson Reuters Trust Principles.

☆ South Korea deputy prime minister says country is at a 'turning point' in relationship with Japan
▼ + stars: | 2023-05-04 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSouth Korea deputy prime minister says country is at a 'turning point' in relationship with JapanSouth Korea’s finance minister and deputy prime minister Choo Kyung-ho says he believes unnecessary regulations between South Korea and Japan will be entirely removed.

☆ South Korea's finance minister says country is at a 'turning point' in relations with Japan
▼ + stars: | 2023-05-03 | by ( Jihye Lee | ) www.cnbc.com time to read: +2 min

South Korea Finance Minister Choo Kyung-ho attends the G20 Finance Ministers and Central Bank Governors Meeting in Nusa Dua, on Indonesia resort island of Bali, on July 16, 2022. (Photo by MADE NAGI / POOL / AFP) (Photo by MADE NAGI/POOL/AFP via Getty Images)South Korea's finance minister says the nation sees is at a "turning point" in economic relations with Japan. Speaking to CNBC's Chery Kang at the Asian Development Bank's annual meeting in Incheon, South Korea's finance minister and deputy prime minister Choo Kyung-ho praised Tokyo's recent decision to restore South Korea to a list of preferred trade partners. Choo said the recent talks with Suzuki will lead to further economic cooperation between the two U.S. allies. "The recent bilateral summit has opened things up for improvement.

The resumption of bilateral financial discussions comes ahead of Japanese Prime Minister Fumio Kishida's planned visit to South Korea on Sunday and Monday for talks with President Yoon Suk Yeol. It also came as Asian policymakers, gathering for the annual Asian Development Bank (ADB) meeting this week in the South Korean city of Incheon, discussed regional economic challenges and ways to beef up buffers against various shocks. In a joint statement issued after their meeting on Tuesday, Asian finance leaders warned of risks to the region's economy and called for countries to stay vigilant to potential spillovers from the recent U.S. and European banking sector turmoil. Japan and South Korea will resume regular finance dialogue, likely to be held annually, at "an appropriate timing," Suzuki told reporters after the bilateral meeting. Choo is expected to visit Japan this year for another meeting with Suzuki, South Korea's finance ministry said.

The resumption of bilateral financial discussions comes ahead of Japanese Prime Minister Fumio Kishida's planned visit to South Korea on Sunday and Monday for talks with President Yoon Suk Yeol. Japan and South Korea will resume regular finance dialogue, likely to be held annually, at "an appropriate timing," Suzuki told reporters after the bilateral meeting. Washington has pressed both countries to resolve these disputes to better counter rising threats from China and North Korea and other regional challenges. Under Yoon, South Korea has resumed trilateral military drills and agreed to more intelligence sharing on issues like tracking ballistic missile launches from North Korea. China's finance minister and central bank head were not present at a trilateral meeting, with their deputies attending instead.

SummarySummary Companies Japan, South Korea hold 1st bilateral finance meeting in 7 yearsTwo nations to resume regular finance dialogue, likely annualAsia policymakers to discuss safeguardsINCHEON, South Korea May 2 (Reuters) - Japan and South Korea held their first finance leaders' meeting in seven years on Tuesday and agreed to resume regular dialogue, as tensions in the region and slowing growth prod them to increase co-operation and mend strained relations. The resumption of bilateral financial discussions comes ahead of Japanese Prime Minister Fumio Kishida's planned visit to South Korea next week for talks with President Yoon Suk Yeol. "Japan and South Korea are important neighbours that must cooperate to address various challenges surrounding the global economy, as well as the regional and international community," Japanese Finance Minister Shunichi Suzuki said at the meeting with his South Korean counterpart Choo Kyung-ho. Japan and South Korea will resume regular finance dialogue, likely to be held annually, at "an appropriate timing," Suzuki told reporters after the bilateral meeting. Choo is expected to visit Japan this year for another meeting with Suzuki, South Korea's finance ministry said.

SummarySummary Companies ASEAN+3 finance leaders meet in Incheon, South Korea, TuesdayJapan hopes to propose strengthening currency swap linesExpansion will offer better safeguards vs pandemic, disastersINCHEON, May 2 (Reuters) - Asian finance leaders will on Tuesday look for ways to tighten safeguards to address emergency funding needs during pandemics and natural disasters, as global recession fears and volatile financial markets cloud the economic outlook. Japan, which co-chairs this year's meeting with Indonesia, hopes to discuss strengthening currency swap lines, Finance Minister Shunichi Suzuki told reporters on Friday. Japan is keen to propose a facility that enhances the use of existing currency swap lines, and allows members to tap funds in emergencies, said three sources with direct knowledge of the matter. But the swap lines have never been used, not even during the COVID-19 pandemic, leading to calls within the group for the system to be more accessible. The ASEAN+3 finance leaders, including Suzuki and Bank of Japan (BOJ) Governor Kazuo Ueda, are meeting on the sidelines of the ADB's annual meeting in Incheon in South Korea this week.

SummarySummary Companies Japan, S.Korea must address geopolitical challenges - SuzukiS.Korea's Choo urges Japan to restore 'white list' statusResumption of dialogue underscores mending relationsINCHEON, South Korea May 2 (Reuters) - Japan and South Korea held their first bilateral finance leaders' meeting in seven years on Tuesday, a sign relations between the two are thawing amid shared challenges from geopolitical tensions and slowing economic growth. The resumption of bilateral financial talks comes ahead of Japanese Prime Minister Fumio Kishida's planned visit to South Korea next week for talks with President Yoon Suk Yeol. "As for geo-political challenges, we're experiencing incidents like North Korea's nuclear missile development and Russia's invasion of Ukraine. Regular annual dialogue between the two countries' finance ministers has been suspended since 2016 due to disputes over wartime history. Suzuki said he hoped Japan and South Korea can continue with bilateral financial dialogue and that doing so would contribute to improving relations between the two countries.

☆ Japan, South Korea finance ministers meet for 1st bilateral meeting in 7 years
▼ + stars: | 2023-05-02 | by ( ) www.reuters.com time to read: 1 min

INCHEON, South Korea May 2 (Reuters) - Japanese Finance Minister Shunichi Suzuki and his South Korean counterpart Choo Kyung-ho on Tuesday met on the sidelines of the Asian Development Bank (ADB) annual meetings held this week. It was the first bilateral finance leaders' meeting in seven years, highlighting improving relations between Japan and South Korea in the face of North Korea's frequent missile launches and China's more muscular role on the global stage. Reporting by Leika Kihara and Jihoon Lee Editing by Chang-Ran KimOur Standards: The Thomson Reuters Trust Principles.

☆ Japan, South Korea hold first finance leaders' meeting in seven years
▼ + stars: | 2023-05-02 | by ( ) www.cnbc.com time to read: +1 min

Japan Finance Minister Shunichi Suzuki arrives for the G20 Finance Ministers and Central Bank Governors meeting on April 13, 2023. Japan and South Korea held their first bilateral finance leaders' meeting in seven years on Tuesday, a sign relations between the two are thawing as they confront shared challenges from geopolitical tensions and slowing economic growth. The two countries agreed to resume regular finance dialogue "at an appropriate timing," Japanese Finance Minister Shunichi Suzuki told reporters after the meeting. The resumption of bilateral financial discussions comes ahead of Japanese Prime Minister Fumio Kishida's planned visit to South Korea next week for talks with President Yoon Suk Yeol. "Japan and South Korea are important neighbors that must cooperate to address various challenges surrounding the global and economy, as well as the regional and international community," Suzuki said at the meeting with his South Korean counterpart Choo Kyung-ho.

☆ S.Korea finmin: S.Korea, Japan, China cooperation more important as world economy at inflection point
▼ + stars: | 2023-05-01 | by ( ) www.reuters.com time to read: 1 min

INCHEON, South Korea, May 2 (Reuters) - South Korea's finance minister said on Tuesday that the trilateral cooperation between South Korea, Japan and China has became more important as the global economy stands at an inflection point. Minister Choo Kyung-ho said such cooperation would not only help the three countries, which account for more than 20% of the world economy, but also the Asian region and the world, during his opening remarks at a trilateral meeting of finance ministers and central bank governors. The countries' economic leaders met on the sidelines of the Asian Development Bank's annual meeting of the board of governors held in Incheon, South Korea. Reporting by Jihoon Lee; Editing by Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

☆ From TikTok to partnerships, the best ways fintechs can attract quality customers amid a downturn, according to experts
▼ + stars: | 2023-05-01 | by ( Paige Hagy | ) www.businessinsider.com time to read: +4 min

Balancing customer acquisition cost and customer lifetime value is difficult. Despite the market downturn, experts say startups need to be more savvy about going after new users. Fintechs need to take a quality over quantity approach when it comes to attracting new customers in a tightening market. One solution is to target customers who will offer greater lifetime value, Ron Shevlin, chief research officer at Cornerstone Advisors, said at the conference. Lifetime value is the amount of revenue a business will generate from a single customer.

SummarySummary Companies ASEAN+3 finance leaders meet in Incheon, South Korea, TuesdayJapan hopes to propose strengthening currency swap linesExpansion will offer better safeguards vs pandemic, disastersINCHEON, May 2 (Reuters) - Asian finance leaders on Tuesday will debate ways to beef up regional safeguards to better address emergency funding needs during pandemics and natural disasters, as global recession fears and volatile financial markets cloud the economic outlook. Japan, which co-chairs this year's meeting of ASEAN+3 nations with Indonesia, hopes to discuss strengthening currency swap lines, Finance Minister Shunichi Suzuki told reporters on Friday. Japan is keen to propose a facility that enhances usage of existing currency swap lines, and allows members to tap funds in times of emergencies such as pandemics and natural disasters, said three sources with direct knowledge of the matter. But the swap lines have never been used, including during the COVID-19 pandemic, giving rise to calls from within the group to make the system more easily accessible in the event of shock events. The ASEAN+3 finance leaders, including Suzuki and Bank of Japan (BOJ) Governor Kazuo Ueda, are meeting on the sidelines of the ADB's annual meeting in Incheon in South Korea this week.

☆ Despite a tightening market, fintechs need to be more savvy and selective in how they attract new customers, experts say
▼ + stars: | 2023-04-27 | by ( Paige Hagy | ) www.businessinsider.com time to read: +4 min

Balancing customer acquisition cost and customer lifetime value is difficult. Despite the market downturn, experts say startups need to be more savvy about going after new users. Fintechs need to take a quality over quantity approach when it comes to attracting new customers in a tightening market. But despite the difficult market, experts say fintechs shouldn't simply be looking to grow their market share by any means necessary. Lifetime value is the amount of revenue a business will generate from a single customer.

☆ Stocks making the biggest moves midday: Tesla, IBM, American Express, AT&T and more
▼ + stars: | 2023-04-20 | by ( Alex Harring | ) www.cnbc.com time to read: +6 min

American Express posted earnings per share of $2.40 for the first quarter, below an estimate of $2.66, per Refinitiv. On Wednesday, the casino and resort company posted a beat on first-quarter earnings. The decline comes a day after Zions missed earnings expectations in the first quarter. The company posted earnings of $2.73 per share on revenue of $7.97 billion. The downgrade comes ahead of the defense firm's first quarter earnings report, which is set to release April 25.

☆ South Korea and Japan's finance ministers to hold first bilateral talks in 7 years
▼ + stars: | 2023-04-17 | by ( ) www.reuters.com time to read: +1 min

SEOUL/TOKYO, April 17 (Reuters) - South Korea and Japan's finance ministers will hold a bilateral meeting early next month for the first time in seven years, heralding closer cooperation in economic policy that has been hampered by diplomatic conflict. South Korean Finance Minister Choo Kyung-ho told reporters during a visit to the United States that he has agreed to meet Japanese Finance Minister Shunichi Suzuki, according to a media pool report. "It is significant in that it will be the first step toward reviving regular bilateral meetings," Choo said, without elaborating. Regular annual meetings between the two countries' finance ministers have been suspended since 2016 due to disputes over wartime history. Financial markets will likely pay close attention to whether the finance ministers will discuss resuming a bilateral currency swap arrangement - one that had served as backstop against any potential currency crisis but which expired in February 2015.

☆ Jimmy Choo Co-Founder Tamara Mellon Sells New York City Penthouse
▼ + stars: | 2023-04-02 | by ( E.B. Solomont | ) www.wsj.com time to read: 1 min

Be the first to know about the biggest and best luxury home sales and listings by signing up for our Mansion Deals email alert. Tamara Mellon, co-founder of the luxury shoe brand Jimmy Choo, has sold her New York City penthouse for $19.25 million, nearly nine years after putting it on the market, according to listing brokerage the Corcoran Group.

☆ S.Korea inflation slowest in 10 months, bolsters views for no more hikes
▼ + stars: | 2023-03-06 | by ( Jihoon Lee | ) www.reuters.com time to read: +2 min

The consumer price index rose 4.8% in February from a year before, Statistics Korea data showed on Monday, easing from January's 5.2%. By product category, prices of livestock products fell 3.2% from the previous month and petroleum products slid 1.3%, dragging the inflation rate lower. The inflation index rose 0.3% on a monthly basis, compared with 0.8% in the previous month and 0.5% expected by economists. The BOK held interest rates steady last month, after a year of uninterrupted hikes, and said the monetary tightening campaign would not resume if inflation followed an expected path towards moderation. Finance Minister Choo Kyung-ho separately said that the inflation slowdown would become clearer going forward, unless there were an external shock.

[1/2] Chinese tourists stand next to street vendors at Myeongdong shopping district in Seoul, South Korea, January 9, 2023. REUTERS/Kim Hong-JiSEOUL, March 2 (Reuters) - South Korea's government on Thursday promised to boost exports and attract tourists as the country's statistics agency released January data that showed gloomy prospects for the economy. Reflecting the sense of urgency within the government, South Korea's trade minister convened a separate emergency meeting of officials from almost all ministries to press for more exports. South Korea's official forecast is for exports to drop 4.5% in 2023 compared with last year. South Korea's trade-reliant economy contracted by an estimated 0.4% in the fourth quarter of 2022 from the previous quarter as exports collapsed.

☆ Investors need to embrace these stocks that we love
▼ + stars: | 2023-02-12 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +8 min

I’ve typically done this stock picking feature in early to mid February as a Stocks We Love type of story, pegging it to Valentine’s Day. The restaurant stocks in particular could do well. Inflation is obviously still a concern for big consumer brands. Consumer prices rose 6.5% over the past 12 months through December, down from a 7.1% pace in November. Up nextMonday: Earnings from TreeHouse Foods (THS), Avis Budget (CAR), FirstEnergy (FE), IAC (IAC) and PalantirTuesday: US CPI; Japan GDP; UK employment report; earnings from Coca-Cola, Asahi Group, Marriott (MAR).

☆ Jim Cramer's top 10 things to watch in the stock market Thursday: Disney delivers, market rally back, another activist in Salesforce
▼ + stars: | 2023-02-09 | by ( Jim Cramer | ) www.cnbc.com time to read: +3 min

The outlook for Club holding Wynn Resorts (WYNN) hasn't been this good since the Covid pandemic started. I've been saying more needs to be done to right the ship at this Club holding. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

☆ Michael Kors owner Capri cuts forecasts as demand slows, shares plunge 24%
▼ + stars: | 2023-02-08 | by ( Uday Sampath Kumar | ) www.reuters.com time to read: +2 min

Feb 8(Reuters) - Michael Kors owner Capri Holdings Ltd (CPRI.N) on Wednesday cut its annual profit forecast and provided a dour outlook for 2024, blaming a slowdown in demand from department stores for its luxury handbags and apparel and sending its shares tumbling 24%. Capri said third-quarter sales fell 6%, driven by a 20% fall in revenue from its wholesale channel, which includes department stores and other retailers. Revenue for Michael Kors, Capri's biggest brand, fell 4.5% to $777 million in the Americas during the third quarter. Capri, which also owns Jimmy Choo and Versace, cut its annual sales forecast to $5.56 billion, from $5.70 billion. Analysts expect earnings per share of $7.24 on revenue of $6.03 billion.

☆ Michael Kors owner Capri shares plunge after revenue falls across the retailer's luxury brands
▼ + stars: | 2023-02-08 | by ( Noah Sheidlower | ) www.cnbc.com time to read: +2 min

Shares of Michael Kors owner Capri Holdings plunged 20% in early trading Wednesday after the company missed earnings expectations and cut its annual profit forecast. Here's how the company did:Earnings per share: $1.84 vs. $2.22 expected by analysts, according to Refinitiv. Revenue: $1.51 billion vs. $1.53 billion expected by analysts, according to Refinitiv. Revenue fell across the company's luxury brands: Michael Kors revenue fell 7.2% year over year to $1.1 billion, Jimmy Choo revenue fell 5.6% to $168 million, and Versace revenue fell 0.8% to $249 million. Capri said it now expects full year 2023 sales of $5.56 billion, below analyst expectations of $5.72 billion, according to Refinitiv.

☆ North Korea's antique fighter jets are still keeping the US and South Korea on their toes
▼ + stars: | 2023-02-08 | by ( Benjamin Brimelow | ) www.businessinsider.com time to read: +9 min

Even with an aging fleet, Pyongyang has been able to catch the attention of South Korea and the US. On October 6, 12 North Korean jets were detected practicing air-to-ground attacks near the DMZ, prompting South Korea to scramble 30 of its fighters. On November 4, 80 South Korean fighters were scrambled after 180 North Korean planes were detected on South Korean radar. The activity and scale is unusual given North Korea's air force is widely regarded as the weakest branch of North Korea's military. South Korean troops guard a MiG-19 used by a North Korean pilot to defect to South Korea in May 1996.

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