Saudi Aramco's Top Boss Backs China in Energy Dumping ControversyThe world’s largest oil producer has stepped up to defend China against Western criticism that it dumps solar panels and electric vehicles at rock-bottom prices. According to the Financial Times (FT), Amin Nasser, CEO of Aramco, said at the World Energy Congress (WEC) held in Rotterdam, Netherlands, on the 22nd (local time), “China has greatly […]
North America Embraces Korean Rice: CJ's Bibigo Sticky Rice Sales SoarLast Year’s Cooked Sticky White Rice Sales Up 20.6% to 160 billion CJ CheilJedang’s Cooked Sticky White Rice is gaining significant popularity in North America. CJ CheilJedang announced on the 23rd that the sales of Cooked Sticky White Rice exported to North America last year increased by 20.6% compared to the same period of the […]
The Decline of South Korean ReadersAccording to recent findings, about six out of ten South Korean adults did not read even a single book last year. According to the 2023 National Reading Survey released by the Ministry of Culture, Sports and Tourism on the 18th, the comprehensive reading rate, which signifies the percentage of adults who read or listened to […]
Kim Jong Un's Push for Economic Self-Sufficiency: What You Need to KnowNorth Korea’s Chief Secretary Kim Jong Un attended a groundbreaking ceremony for a local industrial factory in Sungcheon County. (Photo=Rodong Sinmun-News1) North Korea is currently developing local industrial factories in 20 cities and counties. According to North Korean media, these factories, including essential food, daily necessities, and clothing, are being constructed to align with each […]
IMF Warns: 'U.S. and Chinese Fiscal Deficits Are a Grave Risk to the Global Economy'US fiscal deficit to hit 7.1% of GDP next year, triple the average for advanced economiesChina’s fiscal deficit to reach 7.6%, double the average of emerging countriesUS debt also affects inflation…high inflation-high interest rate vicious circle The International Monetary Fund (IMF) warned on the 17th (local time) that the massive fiscal deficit in the United […]
US, Japan, and South Korea Unite Against Economic ChallengesDuring the meeting, the finance ministers of South Korea, the US, and Japan gathered for the first time. They aimed to recognize the recent changes in economic and financial conditions, including the depreciation of the won and yen and China’s offensive on low-cost products. They also agreed to continue discussing issues discussed between the three […]
China Slashes U.S. Treasury Holdings: Set to Fall Behind UKAs China cuts its holdings of U.S. Treasuries, it is expected to drop to the third-largest holder of U.S. Treasuries after the United Kingdom. According to United News on the 18th, the U.S. Treasury Department reported on the 17th (local time) that as of the end of last February, the Chinese government’s holdings of U.S. […]
Surveillance Tech in North Korea on the RiseNorth Korea’s distribution of surveillance cameras is making it increasingly difficult for its citizens to evade the government’s watchful eye, according to recent reports. On the 16th (local time), the American think tank 38 North published a report assessing the strengthening of surveillance systems in North Korea. The report was based on interviews with defectors […]
Fed Chair Powell: No Plans for Interest Rate Cut Amid Strong EconomyJerome Powell, Chair of the U.S. Federal Reserve (Fed), has scuttled the market’s hopes for a cut in the benchmark interest rate. According to the Wall Street Journal (WSJ) on the 16th (local time), Powell said at an economic forum in Washington, D.C., “Recent indicators have not given us more confidence. Rather, it suggests that […]
SK Group Chairman Delivers on Investment Promise to President BidenChairman Chey Tae Won of SK Group emphasized that he kept his investment promise with U.S. President Joe Biden by establishing SK Hynix’s advanced packaging facilities. On the 17th, Chey posted on his LinkedIn, “SK Hynix announced on the 3rd that it will build an advanced packaging (post-processing) facility for HBM (High Bandwidth Memory) DRAM, […]
Historic Trilateral Financial Summit: U.S., South Korea, and Japan Unite in DCFor the first time, the finance ministers of South Korea, the United States, and Japan will gather tomorrow in Washington, D.C. The Ministry of Economy and Finance announced on the 16th that Deputy Prime Minister Choi Sang Mok will depart for the U.S. to attend the trilateral finance ministers’ meeting. This finance ministers’ meeting follows […]
Gold Prices on a Roller Coaster Ride in the Midst of Middle East StrifeDespite Iran’s unprecedented attack on Israel last weekend, gold prices dipped below last week’s peak. As the Middle East conflict entered a dangerous new phase, gold prices rose by 1.2% on the 15th (local time) but lost most gains. Gold prices broke through $2400 per ounce on Friday but ended the trading day in a […]
China's Population Crisis: A Threat to Its Economic Supremacy?Elderly population expected to reach 38% by 2050Retirement age at 60, the world’s lowestThe Hukou System hinders economic growthUrbanization rate must reach 75-80% As China faces complex issues of economic slowdown, low birth rate, and aging population, its status as the world’s second-largest economy is wavering. The Economist recently introduced a solution for China’s population crisis. […]
China's Top Official: 'We Need to Hold Onto Bottom Line of National Security For the Development of Hong Kong"Reuters, Yonhap News A high-ranking Chinese government official in charge of Hong Kong policy emphasized the legitimacy of the Hong Kong version of the National Security Law (Hong Kong National Security Law), which went into full effect last March. According to Reuters on the 15th, Xia Baolong, director of the Hong Kong and Macao Affairs […]
Tesla's Shocking Move: 10% of Employees FiredElectrek, a technical publication, reported on the 15th (local time) that Tesla is laying off more than 10% of its employees, citing an internal memo. According to insiders, Tesla has instructed managers to identify key team members while suspending some stock compensation and canceling some employees’ annual evaluations. It has also reduced production at the […]
Delta Air Lines Surpasses Expectations, Eyes Record Revenue in Q2Delta Air Lines surpassed market expectations with its Q1 results and is anticipated to record its all-time high revenue in Q2. Delta Air Lines’ revenue for Q1 this year was $13.7 billion, marking a 7.8% year-over-year increase, and its operating profit successfully turned to a surplus of $610 million. Non-GAAP earnings per share outperformed market […]
China Surges Ahead as Saudi Arabia's Top Greenfield InvestorChina emerges as the largest greenfield investor China emerged as Saudi Arabia’s largest greenfield investment country last year. This signifies a deepening relationship between the two nations. According to the Institute for International Economic Policy, on the 10th, China invested $16.8 billion in Saudi Arabia last year, securing its position as a major greenfield foreign […]
EU and U.S. Unite Against China's Market DistortionUrsula von der Leyen calls for a tough stance on ChinaGerman Chancellor Scholz set to visit China from 14th to 16thChina refutes, “US pays subsidies through IRA” Following U.S. Treasury Secretary Janet Yellen’s criticism of China’s overproduction, Ursula von der Leyen, President of the European Commission, has expressed a firm stance against China’s unfair trade […]
China's Economic Outlook Darkens as Fitch Downgrades Its Credit RatingAP and Yonhap Fitch, an international credit rating agency, has downgraded China’s national credit rating outlook. The agency cited the country’s struggle to extricate itself from a real estate-driven economic crisis. According to Bloomberg News, on the 10th, Fitch downgraded China’s national credit rating outlook from stable to negative. Fitch explained the reason for the […]
Italy to Invest $1.1 Billion in AI Over the Next Five YearsItaly is moving towards becoming an economic powerhouse through investments in AI and cybersecurity. On the 8th (local time), Italy’s state-run lending institution announced that the venture capital division of the Italian Cassa Depositors’ Association (Cassa Depositi e Prestiti, CDP) would invest 1 billion euros ($1.1 billion) in AI and cybersecurity over the next five […]
Saudi Aramco's Top Boss Backs China in Energy Dumping Controversy The world’s largest oil producer has stepped up to defend China against Western criticism that it dumps solar panels and electric vehicles at rock-bottom prices. According to the Financial Times (FT), Amin Nasser, CEO of Aramco, said at the World Energy Congress (WEC) held in Rotterdam, Netherlands, on the 22nd (local time), “China has greatly […]
North America Embraces Korean Rice: CJ's Bibigo Sticky Rice Sales Soar Last Year’s Cooked Sticky White Rice Sales Up 20.6% to 160 billion CJ CheilJedang’s Cooked Sticky White Rice is gaining significant popularity in North America. CJ CheilJedang announced on the 23rd that the sales of Cooked Sticky White Rice exported to North America last year increased by 20.6% compared to the same period of the […]
The Decline of South Korean Readers According to recent findings, about six out of ten South Korean adults did not read even a single book last year. According to the 2023 National Reading Survey released by the Ministry of Culture, Sports and Tourism on the 18th, the comprehensive reading rate, which signifies the percentage of adults who read or listened to […]
Kim Jong Un's Push for Economic Self-Sufficiency: What You Need to Know North Korea’s Chief Secretary Kim Jong Un attended a groundbreaking ceremony for a local industrial factory in Sungcheon County. (Photo=Rodong Sinmun-News1) North Korea is currently developing local industrial factories in 20 cities and counties. According to North Korean media, these factories, including essential food, daily necessities, and clothing, are being constructed to align with each […]
IMF Warns: 'U.S. and Chinese Fiscal Deficits Are a Grave Risk to the Global Economy' US fiscal deficit to hit 7.1% of GDP next year, triple the average for advanced economiesChina’s fiscal deficit to reach 7.6%, double the average of emerging countriesUS debt also affects inflation…high inflation-high interest rate vicious circle The International Monetary Fund (IMF) warned on the 17th (local time) that the massive fiscal deficit in the United […]
US, Japan, and South Korea Unite Against Economic Challenges During the meeting, the finance ministers of South Korea, the US, and Japan gathered for the first time. They aimed to recognize the recent changes in economic and financial conditions, including the depreciation of the won and yen and China’s offensive on low-cost products. They also agreed to continue discussing issues discussed between the three […]
China Slashes U.S. Treasury Holdings: Set to Fall Behind UK As China cuts its holdings of U.S. Treasuries, it is expected to drop to the third-largest holder of U.S. Treasuries after the United Kingdom. According to United News on the 18th, the U.S. Treasury Department reported on the 17th (local time) that as of the end of last February, the Chinese government’s holdings of U.S. […]
Surveillance Tech in North Korea on the Rise North Korea’s distribution of surveillance cameras is making it increasingly difficult for its citizens to evade the government’s watchful eye, according to recent reports. On the 16th (local time), the American think tank 38 North published a report assessing the strengthening of surveillance systems in North Korea. The report was based on interviews with defectors […]
Fed Chair Powell: No Plans for Interest Rate Cut Amid Strong Economy Jerome Powell, Chair of the U.S. Federal Reserve (Fed), has scuttled the market’s hopes for a cut in the benchmark interest rate. According to the Wall Street Journal (WSJ) on the 16th (local time), Powell said at an economic forum in Washington, D.C., “Recent indicators have not given us more confidence. Rather, it suggests that […]
SK Group Chairman Delivers on Investment Promise to President Biden Chairman Chey Tae Won of SK Group emphasized that he kept his investment promise with U.S. President Joe Biden by establishing SK Hynix’s advanced packaging facilities. On the 17th, Chey posted on his LinkedIn, “SK Hynix announced on the 3rd that it will build an advanced packaging (post-processing) facility for HBM (High Bandwidth Memory) DRAM, […]
Historic Trilateral Financial Summit: U.S., South Korea, and Japan Unite in DC For the first time, the finance ministers of South Korea, the United States, and Japan will gather tomorrow in Washington, D.C. The Ministry of Economy and Finance announced on the 16th that Deputy Prime Minister Choi Sang Mok will depart for the U.S. to attend the trilateral finance ministers’ meeting. This finance ministers’ meeting follows […]
Gold Prices on a Roller Coaster Ride in the Midst of Middle East Strife Despite Iran’s unprecedented attack on Israel last weekend, gold prices dipped below last week’s peak. As the Middle East conflict entered a dangerous new phase, gold prices rose by 1.2% on the 15th (local time) but lost most gains. Gold prices broke through $2400 per ounce on Friday but ended the trading day in a […]
China's Population Crisis: A Threat to Its Economic Supremacy? Elderly population expected to reach 38% by 2050Retirement age at 60, the world’s lowestThe Hukou System hinders economic growthUrbanization rate must reach 75-80% As China faces complex issues of economic slowdown, low birth rate, and aging population, its status as the world’s second-largest economy is wavering. The Economist recently introduced a solution for China’s population crisis. […]
China's Top Official: 'We Need to Hold Onto Bottom Line of National Security For the Development of Hong Kong" Reuters, Yonhap News A high-ranking Chinese government official in charge of Hong Kong policy emphasized the legitimacy of the Hong Kong version of the National Security Law (Hong Kong National Security Law), which went into full effect last March. According to Reuters on the 15th, Xia Baolong, director of the Hong Kong and Macao Affairs […]
Tesla's Shocking Move: 10% of Employees Fired Electrek, a technical publication, reported on the 15th (local time) that Tesla is laying off more than 10% of its employees, citing an internal memo. According to insiders, Tesla has instructed managers to identify key team members while suspending some stock compensation and canceling some employees’ annual evaluations. It has also reduced production at the […]
Delta Air Lines Surpasses Expectations, Eyes Record Revenue in Q2 Delta Air Lines surpassed market expectations with its Q1 results and is anticipated to record its all-time high revenue in Q2. Delta Air Lines’ revenue for Q1 this year was $13.7 billion, marking a 7.8% year-over-year increase, and its operating profit successfully turned to a surplus of $610 million. Non-GAAP earnings per share outperformed market […]
China Surges Ahead as Saudi Arabia's Top Greenfield Investor China emerges as the largest greenfield investor China emerged as Saudi Arabia’s largest greenfield investment country last year. This signifies a deepening relationship between the two nations. According to the Institute for International Economic Policy, on the 10th, China invested $16.8 billion in Saudi Arabia last year, securing its position as a major greenfield foreign […]
EU and U.S. Unite Against China's Market Distortion Ursula von der Leyen calls for a tough stance on ChinaGerman Chancellor Scholz set to visit China from 14th to 16thChina refutes, “US pays subsidies through IRA” Following U.S. Treasury Secretary Janet Yellen’s criticism of China’s overproduction, Ursula von der Leyen, President of the European Commission, has expressed a firm stance against China’s unfair trade […]
China's Economic Outlook Darkens as Fitch Downgrades Its Credit Rating AP and Yonhap Fitch, an international credit rating agency, has downgraded China’s national credit rating outlook. The agency cited the country’s struggle to extricate itself from a real estate-driven economic crisis. According to Bloomberg News, on the 10th, Fitch downgraded China’s national credit rating outlook from stable to negative. Fitch explained the reason for the […]
Italy to Invest $1.1 Billion in AI Over the Next Five Years Italy is moving towards becoming an economic powerhouse through investments in AI and cybersecurity. On the 8th (local time), Italy’s state-run lending institution announced that the venture capital division of the Italian Cassa Depositors’ Association (Cassa Depositi e Prestiti, CDP) would invest 1 billion euros ($1.1 billion) in AI and cybersecurity over the next five […]
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