Kaesong north korea map

Treasury Secretary Janet Yellen testifies before the House Ways and Means Committee during a hearing on the 2023 on Capitol Hill in Washington, Wednesday, June 8, 2022. [AP] U.S. Treasury Secretary Janet Yellen will be visiting Korea on July 19 and 20. According to the U.S. Treasury Department and the Korean Finance Ministry, Yellen will be stopping in Japan on July 12 and 13 and attending the G20 finance minister and central bank governor meeting in Bali July 15 and 16 before arriving in Korea. On Tuesday, the ministry said Yellen will be meeting with Korean Finance Minister Choo Kyung-ho, the first between the two. They are to discuss economic and financial cooperation and the strengthening of multilateral arrangements. Yellen's visit comes at a time of global economy uncertainties, which have been affecting local financial markets and the value of the won. Korea stocks are down almost 20 percent this year, and the currency is off almost 15 percent. A currency swap with … [Read more...] about U.S. Treasury Secretary Janet Yellen to visit Korea in July

The price of Haepyo canola oil and pressed olive oil will increase by up to 20.8 percent from next month. Ottogi also recently raised the price of commercial cooking oil by 20 percent. Cooking oil, such as canola oil and olive oilm are on display at a large mart in Seoul on Tuesday. [YONHAP] A lighting manufacturing company is losing money on each sale after raw material prices jumped 60 percent. "As we can't raise the price on our products at the rate raw material prices have increased, we face huge losses with the more orders we get," the owner of the manufacturing company said. "I'm considering downsizing our factory as raw material prices will likely rise for a long time." A new survey by the Bank of Korea found that four out of every 10 companies said this year raw material prices have risen by more than 20 percent compared to last year. Two out of every 10 companies said they are considering changes to employment or reducing new business investments in response to … [Read more...] about Losing money on each sale, Korean companies cut back

Financial Supervisory Service building in Yeouido, western Seoul. [YONHAP] Assets of financial holding companies increased 7.4 percent in the first half compared to six months earlier as demand for loans rose, Financial Supervisory Service (FSS) data showed Tuesday. Total assets of the 10 financial holding companies increased 194 trillion won ($164 billion) to reach 2,823 trillion won. The 10 companies are KB, Shinhan, Nonghyup, Woori, Hana, BNK, DGB, JB, Korea Investment and Meritz Holdings. By categories, assets owned by investment firms grew the fastest — increasing 18.9 percent or 48.3 trillion won. This was due to an increase in the value of equities they hold and increases in deposits by retail investors for stock trading. Assets of commercial banks increased by 6.5 percent or 128.6 trillion won from a surge in loans. At credit card companies, assets grew by 7.1 percent or 10.3 trillion won from January to June. For insurance companies, assets increased by 3.7 percent … [Read more...] about Finance sector sees healthy rise in assets in first half

- A + A KUALA LUMPUR (June 28): Poh Huat Resources Holdings Bhd's net profit for the second quarter ended April 30, 2022 (2QFY22) jumped 81.75% to RM23.08 million from RM12.7 million in the same period last year, mainly driven by higher furniture shipments from Malaysia. Quarterly revenue grew 12.57% to RM186.34 million from RM165.53 million, as production activities for both the group's operations in Malaysia and Vietnam continued to do well on the back of sustained orders from its customers in North America. "In particular, our Malaysia operations registered strong growth compared to the previous year's corresponding quarter as we ramped up production to clear order backlogs following the resumption of production after MCO 3.0 (Movement Control Order 3.0). Our Vietnam operations also registered higher shipment, albeit at a more modest level," Poh Huat said. As such, its earnings per share almost doubled to 8.71 sen from 4.79 sen previously, its bourse filing … [Read more...] about After 82% jump in 2Q profit, Poh Huat sees signs of demand slowdown in US amid soaring prices

Asian league executives including PBA’s Willie Marcial during the EASL Draw on Tuesday at Shangri-La The Fort. –PBA IMAGES MANILA, Philippines—Commissioner Willie Marcial said the PBA is open to welcoming players from other Asian leagues like the Japan B.League and Korean Basketball League as imports amid the influx of Filipino talents overseas. Marcial is meeting with KBL commissioner Kim Hee Ok Tuesday night with one of the points of discussion a potential “exchange of players” as brought up by the Korean league. “Asian imports are welcome here with us any time,” Marcial said in Filipino Tuesday during the East Asia Super League grouping ceremony at Shangri-La Fort where top officials from other top-tier Asian leagues were present. “The KBL has also told us about exchange of players. I told them, we’ll see how it will work with the league and the (PBA) teams.” The B.League has become a hot destination for Filipino players with the likes of the Ravena brothers Kiefer and … [Read more...] about PBA open to ‘exchange of players’ with other Asian leagues

Naga City, Camarines Sur map LEGAZPI CITY — Anti-narcotics operatives arrested a big-time drug suspect and seized P3.4 million worth of “shabu” (crystal meth) in a buy-bust operation in Naga City in Camarines Sur province on Tuesday afternoon. Police Master Sergeant Tobias Bongon, Naga City police spokesperson, said in a report that Eymard Rey Batan, 43, was arrested in Barangay (village) Peñafrancia at around 2:05 p.m. Authorities recovered two knot-tied plastic bags containing 500 grams of shabu, a rolled aluminum foil with traces of shabu and a lighter. Mark Anthony Viray, provincial officer of the Philippine Drug Enforcement Agency Camarines Sur, said Batan, who got his drug supply from Muntinlupa, was operating in the city and the nearby towns of Camaligan and Calabanga. Viray said the suspect previously surrendered to the police during the “Oplan Tokhang” or anti-illegal drugs campaign of the government. Now arrested, Batan will face a charge of violating the … [Read more...] about P3.4 million ‘shabu’ seized in Naga City

THE Covid-19 pandemic “marathon” is not over, even if we wish it to be. Many seem to have a relaxed outlook already, with a drop in mask usage and increased unprotected social gatherings. We have lost all momentum to fix indoor ventilation significantly and vaccination of young children has sadly faltered. Communication by health authorities has been limited to current emerging data and science on our Covid-19 risks. While we work to restart the economy, restore our children’s education loss and support those who have lost jobs or are having food security issues, we must remain mindful of the situation. I would like to briefly summarise current understanding from research and data on Covid-19 and highlight the three pandemics that are occurring. Note: I have not referenced many studies in this letter to facilitate reading. But the comments made are all based on current available data from reliable sources. First pandemic: Covid-19 The Covid-19 pandemic continues to evolve. … [Read more...] about Three pandemics – The worrying long-term effects of Covid-19

Today the iPhone celebrates its 10th anniversary as one of the best-selling products of all time. As a communication specialist, I mark the event for a slightly different reason. The launch of the iPhone was accompanied by one of the best business presentations in corporate history. Here are five techniques that Steve Jobs used to make the iPhone launch magical and memorable, tips that you can use in your very next pitch or presentation. 1. The Setup A good story--and nearly every successful Hollywood movie--follows the three-act structure: setup, conflict, and resolution. The setup is key. It introduces the characters and provides the background to move the action forward. In the 2007 iPhone presentation, Jobs built up the narrative before he even mentioned a new product. "This is a day I've been looking forward to for two and a half years," Jobs began. "Every once in a while, a revolutionary product comes along that changes everything ... Apple … [Read more...] about 5 Reasons Why Steve Jobs’s iPhone Keynote Is Still the Best Presentation of All Time

The Fair Trade Commission (FTC) said a total of 168 holding companies were registered with the regulator as of end-December last year, up from 164 the previous year. Sixteen holding firms were newly created last year, but 12 companies were removed from the corporate watch list due largely to devaluations in assets, according to the FTC. In Korea, holding companies with assets of more than 500 billion won ($389 million) are placed under the corporate watchdog's supervision. The number of holding companies created by larger business groups reached 48 at the end of last year, up from 46 a year earlier. The average assets of the total holding companies came to 2.38 trillion won as of end-December, up 10.1 percent from the previous year. The number of holding firms with assets of 1 trillion won or more reached 59, accounting for 35.4 percent of the total. The average debt-to-equity ratio reached 32.7 percent, down from 35.3 percent a year ago. A total of 158 general holding … [Read more...] about Korean holding companies see net increase from last year

A placard reads "we welcome the relocation of the presidential office to Yongsan Defense Ministry compound," in Yongsan District, central Seoul, on Sunday. [YONHAP] Moving the presidential office to Yongsan District, central Seoul, has received a mixed response in Yongsan District itself. The office, which is currently situated in Jongno District, central Seoul, is set to be relocated to the Defense Ministry compound, President-elect Yoon Suk-yeol announced during a press conference Sunday morning. Yoon will begin work at the new Yongsan office on May 10, when his term begins. Following the announcement, some local property owners in Yongsan expressed worries while others buzzed with excitement. Redevelopment is the key issue. Skeptics believe that the relocation wil inevitably slow ongoing redevelopment plans, but those who welcomed the news are expecting improvement in the residential environment. A placard opposing the presidential office relocation in Yongsan … [Read more...] about Yongsan mixed on hosting presidential office