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☆ North Korea fires long-range missile after warning over military drills
▼ + stars: | 2023-02-18 | by ( ) www.cnbc.com time to read: +2 min

North Korean leader Kim Jong Un and daughter Kim Ju Ae attend a military parade to mark the 75th founding anniversary of North Korea's army, at Kim Il Sung Square in Pyongyang, North Korea February 8, 2023, in this photo released by North Korea's Korean Central News Agency (KCNA). North Korea launched a long-range ballistic missile into the sea off Japan's west coast on Saturday after warning of a strong response to upcoming military drills by South Korea and the United States. Japanese Prime Minister Fumio Kisihda said the missile appeared to have been ICBM-class, referring to an intercontinental ballistic missile. Following Saturday's launch, South Korea's National Security Council convened a meeting and agreed to increase cooperation on security with Washington and Japan. The U.S. Indo-Pacific Command said in a statement that U.S. commitments to the defence of Japan and South Korea "remain ironclad".

☆ Travel demand is hot, but some prices may cool: These are the stocks for spring break and beyond
▼ + stars: | 2023-02-18 | by ( Michelle Fox | ) www.cnbc.com time to read: +9 min

Last week, Hilton Worldwide CEO Chris Nassetta said, "The demand trends here and now are really strong." In the home-rental space, Airbnb also said it was seeing continued strong demand at the start of 2023. China's reopening from its Covid lockdown is also helping propel travel demand, as well as the tick up in business travel, she said. "The trends have been really strong since January," he said. Airlines like Delta, American Airlines and United Airlines cited strong travel demand and higher fares for fueling their strong fourth-quarter earnings — as well as for forecasts for this year.

☆ Fukushima wastewater release would have limited impact on South Korean waters - study
▼ + stars: | 2023-02-16 | by ( Ju-Min Park | ) www.reuters.com time to read: +2 min

SEOUL, Feb 16 (Reuters) - The release of waste water from Japan's wrecked Fukushima nuclear power plant would have a negligible effect on South Korean waters, according to a government study published on Thursday. "That change would be too small to detect," an official at the Korea Institute of Ocean Science and Technology said. The analysis comes as South Korea's President Yoon Suk-yeol is seeking to improve relations with Japan after years of tensions. The water release has raised concerns from neighbouring countries, including China and South Korea. The simulation study has "no connection" to normalising relations between South Korea and Japan, said Oh Haeng-nok, an official at South Korea's Ministry of Oceans and Fisheries.

☆ Analysts like Airbnb's latest earnings but still see risks for the short-term rental stock
▼ + stars: | 2023-02-15 | by ( Hakyung Kim | ) www.cnbc.com time to read: +3 min

Airbnb 's latest quarterly earnings outperformed expectations, but most analysts are still concerned about the stock going forward. Several analysts covering the stock reiterated their neutral or sell ratings on Airbnb a day after the company reported its calendar fourth-quarter results, citing ongoing risks for the short-term rental name. The analyst has a price target of $160 per share, implying upside of 32.3%. JPMorgan's Doug Anmuth also reiterated a neutral rating on the stock, noting that online travel is growing more competitive. Sheridan raised his price target on the stock to $98 per share from $87.

The remains of as many as 10,000 Koreans who died in forced labour, digging mines or building dams, are still in Japan, according to South Korean government estimates. Japan says it has identified 2,799 remains of Korean wartime labourers. Japan's foreign ministry said it had been in communication with South Korea about wartime labour issues but could not disclose details. "There's momentum now, and the Japanese and Korean governments are trying to reconcile their differences." Reporting by Sakura Murakami in Ube, Japan and Ju-min Park in Daegu, South Korea; Writing by John Geddie; Editing by Robert BirselOur Standards: The Thomson Reuters Trust Principles.

☆ Sending a spy balloon was a 'clumsy' move by China that 'put a missile' through an already bad situation with the US, foreign policy expert says
▼ + stars: | 2023-02-10 | by ( Natalie Musumeci | ) www.businessinsider.com time to read: +5 min

The Chinese spy balloon "put a missile" through an already strained relationship with the US, an expert said. The balloon incident also torpedoed US Secretary of State Antony Blinken's high-stakes trip to China. The Chinese balloon was an "incredibly clumsy gesture" on Beijing's part and it "deprived us of a very important moment to arrest the downward spiral," Schell said. And though Beijing has admitted that the downed balloon belonged to China, it has insisted it was a weather balloon that blew off course. Glaser added that it is also not in the US' interests "to completely rupture" its relationship with China.

☆ North Korean Parade Puts Missile Production Prowess on Display
▼ + stars: | 2023-02-09 | by ( Dasl Yoon | ) www.wsj.com time to read: +5 min

North Korea has never showcased that many nuclear missiles at one time. The Wednesday parade suggested North Korea was expanding its stockpile of nuclear missiles that threaten the U.S. and its allies’ missile defense systems. North Korea has been developing solid-fueled ICBMs that require less preparation time to launch. North Korean state media didn’t report on any remarks by Mr. Kim, who has skipped speeches at previous military parades. “The main objective of Wednesday’s military parade is to show North Korea’s growing missile capability to strike the U.S. mainland,” said Park Won-gon, a professor of North Korean studies at Ewha Womans University.

☆ Kim Jong Un showed off his rarely-seen daughter — a possible sign he's grooming her to be North Korea's next dictator
▼ + stars: | 2023-02-09 | by ( Tom Porter | ) www.businessinsider.com time to read: +4 min

North Korean leader Kim Jong Un's daughter is being prepared as his successor, analysts say. Kim Jong Un is believed to have three children, including a son who is older than Kim Ju Ae. North Korean leader Kim Jong Un and daughter Kim Ju Ae at Kim Il Sung Square in Pyongyang, North Korea February 8, 2023. North Korea is a hereditary dictatorship, and Kim Jong Un was appointed successor to his father, Kim Jong Il, when he was 8, an expert told CBS News. In recent months, tensions between North Korea and US-ally South Korea have intensified amid a series of missile tests by North Korea.

☆ Daughter of North Korean leader Kim shares spotlight with nuclear missiles
▼ + stars: | 2023-02-09 | by ( Josh Smith | ) www.reuters.com time to read: +3 min

SEOUL, Feb 9 (Reuters) - Sharing drinks, watching missile parades and dining with senior army commanders, North Korean leader Kim Jong Un's daughter was centre stage with her father and mother at major military events this week. A day earlier, Ri and the daughter were once again with Kim as he wined, dined and flattered military commanders at a lavish banquet commemorating this week's army foundation anniversary. [1/3] North Korean leader Kim Jong Un, his wife Ri Sol Ju and their daughter Kim Ju Ae attend a military parade to mark the 75th founding anniversary of North Korea's army, at Kim Il Sung Square in Pyongyang, North Korea February 8, 2023, in this photo released by North Korea's Korean Central News Agency (KCNA). "The North Korean leadership probably has to make the case for why the country has to keep investing in national defence in spite of the deteriorating economic conditions," Lee said. "And no propaganda can be more potent than the leader’s young daughter to convey that message."

☆ Public Appearances by North Korean Leader’s Daughter Spur Succession Speculation
▼ + stars: | 2023-02-08 | by ( Dasl Yoon | ) www.wsj.com time to read: 1 min

North Korean leader Kim Jong Un, in light tie, his daughter Kim Ju Ae and his wife, Ri Sol Ju, at a banquet with military officials. SEOUL—For three generations, the Kim family has ruled North Korea. Before taking power, leaders have been shrouded in mystery and kept out of the public eye as children. Now, one child has appeared alongside leader Kim Jong Un several times, raising questions about the Kim family’s succession plans. Mr. Kim was again accompanied by his daughter at a military banquet on Tuesday, state media reported on Wednesday.

☆ Kim Jong Un’s Daughter Appears Again in North Korea, Spurring Succession Speculation
▼ + stars: | 2023-02-08 | by ( Dasl Yoon | ) www.wsj.com time to read: 1 min

☆ North Korea's Kim lauds army ahead of expected military parade
▼ + stars: | 2023-02-08 | by ( Josh Smith | ) www.reuters.com time to read: +3 min

[1/5] North Korean leader Kim Jong Un, his wife Ri Sol Ju and their daughter Kim Ju Ae attend a banquet to celebrate the 75th anniversary of the Korean People's Army the following day, in Pyongyang, North Korea February 7, 2023 in this photo released February 8, 2023 by North Korea's Korean Central News Agency (KCNA). KCNA via REUTERSSEOUL, Feb 8 (Reuters) - North Korean leader Kim Jong Un called for strengthening the country's military, state media reported on Wednesday, as he paid tribute to soldiers and met with troops amid expectations for a major military parade showcasing the latest weapons. According to international analysts, commercial satellite imagery has for months shown North Korean troops practicing for a major military parade that is expected this week. Despite United Nations Security Council resolutions and sanctions, North Korea has forged ahead with banned nuclear weapons and ballistic missile development. South Korea and the United States have stepped up their own military drills to counter the North, drawing condemnation from Pyongyang.

☆ Goldman Sachs likes Pinterest even after Q4 revenue miss, says long-term catalysts still in place
▼ + stars: | 2023-02-07 | by ( Hakyung Kim | ) www.cnbc.com time to read: +3 min

The company's long-term revenue outlook is also promising for investors, according to the analyst. The analyst also noted that management's "focus on reprioritizing investments" could help Pinterest grow margins and long-term profitability. Sheridan maintained his price target of $30 per share on Pinterest, implying a 9.2% upside from the stock's closing price of $27.48 as of Monday. He reiterated his neutral rating on Pinterest shares and issued a price target of $26 per share, implying downside of 5.4%. JPMorgan lowered its price target to $27 from $28 and maintained its neutral rating for the stock.

☆ South Korea fines Tesla $2.2 mln for exaggerating driving range of EVs
▼ + stars: | 2023-01-03 | by ( ) www.reuters.com time to read: 1 min

SEOUL, Jan 3 (Reuters) - South Korea's antitrust regulator said on Tuesday it has decided to fine Tesla Inc (TSLA.O) 2.85 billion won ($2.23 million) for false advertising related to the driving range of its electric vehicles (EVs). The Korea Fair Trade Commission (KFTC) said the U.S. EV maker exaggerated the driving range of its cars on a single charge as well as the cost-effectiveness. ($1 = 1,276.1700 won)Reporting by Ju-min Park and Hyunsu Yim; Editing by Himani SarkarOur Standards: The Thomson Reuters Trust Principles.

☆ Xi Jinping estimates China’s 2022 GDP grew at least 4.4%. But Covid misery looms
▼ + stars: | 2023-01-02 | by ( Laura He | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —China’s economy grew at least 4.4% in 2022, according to leader Xi Jinping, a figure much stronger than many economists had expected. China’s annual GDP is expected to have exceeded 120 trillion yuan ($17.4 trillion) last year, Xi said in a televised New Year’s Eve speech on Saturday. Economists had generally expected growth to slump to a rate between 2.7% and 3.3% for 2022. But an explosion of Covid infections, triggered by the abrupt easing of pandemic restrictions in early December, is clouding the outlook. However, some forecast the economy will rebound after March, as people learn to live with Covid.

☆ LG Energy Solution to invest $3.1 bln in S.Korea battery facility
▼ + stars: | 2022-12-19 | by ( ) www.reuters.com time to read: 1 min

SEOUL, Dec 19 (Reuters) - South Korean battery maker LG Energy Solution (373220.KS) said on Monday it plans to invest 4 trillion won ($3.1 billion) from this year to 2026 in a facility making cylindrical batteries for electric vehicles. The project in Ochang, South Korea, will include R&D and production facilities and related infrastructure, and is expected to add 1,800 employees, the company said in a statement. ($1 = 1,298.8400 won)Reporting by Ju-min Park and Joyce Lee; Editing by Christopher Cushing and Edmund KlamannOur Standards: The Thomson Reuters Trust Principles.

☆ LG Energy Solution to invest $3.1 bln in S.Korea battery production
▼ + stars: | 2022-12-19 | by ( ) www.reuters.com time to read: 1 min

SEOUL, Dec 19 (Reuters) - South Korean battery maker LG Energy Solution (373220.KS) said in a statement on Monday it plans to invest 4 trillion won ($3.1 billion) between this year and 2026 to build and expand cylindrical battery production in Ochang, South Korea. The project is also expected to lead to the hiring of a further 1,800 employees, the company said in a statement. ($1 = 1,298.8400 won)Reporting by Ju-min Park and Joyce Lee; Editing by Christopher CushingOur Standards: The Thomson Reuters Trust Principles.

☆ Spooked investors have pulled billions of dollars off Binance. Data suggests fears may be overblown
▼ + stars: | 2022-12-14 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +5 min

Investors have been pulling billions of dollars of funds off Binance amid growing scrutiny over the crypto exchange's reserves. On Tuesday afternoon, more than $6.6 billion in crypto had left the exchange over a 24-hour period, according to Nansen. This has investors spooked about the health of Binance in the wake of former competitor FTX's spectacular downfall, which ended Tuesday with CEO Sam Bankman-Fried's arrest and indictment . It remains to be see how wide the damage done by FTX spreads in the crypto market. Clara Medalie, research director at crypto data firm Kaiko, said liquidity on Binance has stayed stable and bitcoin's market depth is holding steady.

Seoul, South Korea CNN —South Koreans are about to get a year or two younger, thanks to a new law passed on Thursday that aims to standardize how age is calculated in the country. In South Korea, a person’s “international age” refers to the number of years since they were born, and starts at zero – the same system used in most other countries. Born on December 31, 1977, he is considered 44 by international age; 45 by calendar year age; and 46 by Korean age. The law passed Thursday will standardize the use of international age across all “judicial and administrative areas,” according to the parliament website and documents related to the bill. “The state and local governments shall encourage citizens to use their ‘international age’ and conduct necessary promotion for that,” it says.

☆ Truckers' union in South Korea ends strike - vote
▼ + stars: | 2022-12-09 | by ( ) www.reuters.com time to read: +1 min

[1/4] Trucks move into a port in Incheon, on the day truckers voted to end a nationwide strike, west of Seoul, South Korea December 9, 2022. Yonhap via REUTERSSEOUL, Dec 9 (Reuters) - South Korean truckers voted to end a nationwide strike that had disrupted supply chains, their union said on Friday. About 62% of union members voted to call off the strike, according to a text message from the Cargo Truckers Solidarity Union seen by Reuters. The union confirmed the vote to end the strike in a news release. As many as 25,000 unionised truckers and some non-union drivers went on strike on Nov. 24, according to the union.

Yonhap via REUTERSSEOUL, Dec 8 (Reuters) - South Korea ordered striking truckers in the steel and petrochemical industries to return to work on Thursday, widening a back-to-work decree beyond the cement industry amid a prolonged nationwide strike that has disrupted supply chains. During opening remarks at a televised meeting of the country's cabinet, Prime Minister Han Duck-soo told the members to issue the "start work" order. Tens of thousands striking truckers are demanding a minimum wage programme be permanent and broader. Last week, the government issued a "start work" order to force 2,500 striking drivers in the cement industry back on the road. The "start work" order last month was the first time the government had forced striking workers back on the job.

☆ South Korea's truckers to vote to decide whether to end strike -truckers union
▼ + stars: | 2022-12-08 | by ( ) www.reuters.com time to read: 1 min

SEOUL, Dec 8 (Reuters) - A union of South Korean truckers said on Thursday it plans to vote on whether to end its strike, according to a text message sent to truckers union members seem by Reuters. Reporting by Heekyong Yang and Ju-min Park; Editing by Toby ChopraOur Standards: The Thomson Reuters Trust Principles.

[1/2] Protesters chant slogans at a news conference in support of the ongoing strike by truckers in Seoul, South Korea December 5, 2022. As supplies of fuel and construction materials run low, the South Korean government has stepped up pressure to end the strike. The Korean Confederation of Trade Unions (KCTU), an umbrella union under which the truckers' union falls, has called the President's "start work" order the equivalent of martial law and says the government should negotiate. As of Monday afternoon, nearly 100 petrol stations had run out of fuel. That is up from the 21 petrol stations that the industry ministry had said were out of fuel on Nov. 28.

[1/5] Striking South Korean unionised tank drivers Lee Geum-sang and Ham Sang-jun pose in front of tank trucks as they participate in a nationwide walkout in front of a major oil storage facility in Seongnam, south of Seoul, South Korea, December 1, 2022. But these drivers, and tens of thousands of others striking across the country, say their calls for stronger minimum pay protections are all that stand between them and poverty. He earns about 3 million won ($2,300) per month, far less than last year because diesel prices have nearly doubled. Ham, the father of two teens, earns about 3 million to 4 million won a month working 12 hours a day, five days a week, often overnight and weekends. That is 2 million won less than last year because of fuel costs.

[1/3] Unionized truckers shout slogans during their rally as they kick off their strike in front of transport hub Uiwang, south of Seoul, South Korea November 24, 2022. Union officials told Reuters the gap between the two sides is too wide to reach a compromise. About 25,000 union drivers are striking over minimum wage rules. As of Tuesday, 21 petrol stations had run dry, the industry ministry said. Some 7,000 people rallied for the strike on Tuesday according to the transport ministry, saying the government's hard-line stance showed no real intention for dialogue.

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