All posts tagged Korea

Asian partners: The future of Australia’s business relationship with Korea

Asian partners: The future of Australia’s business relationship with Korea

When Chung-Sok Suh arrived in Australia from South Korea in 1979 there were about 3000 Koreans living in Australia. He calls them the “first wave”. Today, the number of Korean Australians has increased to 150,000 or so, most of them based in Sydney. Importantly, many are second-generation Korean Australians, often bilingual, and a key resource in the developing relationship between the two countries.

With Korea now Australia’s fourth-largest trading partner, this new generation has an important role to play as a bridge between the two countries. It is also a trading relationship where Australia enjoys a significant surplus.

Korean brands such as Hyundai, Kia, Samsung and LG are part of everyday Australian life and investors such as POSCO are a strong presence in the Australian resources industry. Around 50 Korean companies are active in doing business with Australia, while 100 Australian companies have activities in Korea.

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by admin on June 18, 2013  •  Permalink
Posted in Asia, Australia, Business, Economics, South Korea
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Posted by admin on June 18, 2013

https://theasiancenturyreport.wordpress.com/2013/06/18/asian-partners-the-future-of-australias-business-relationship-with-korea/

The Knowledge Economy and Internet Use in Asia

How big is the impact of the Internet’s potential on Asia, including the impact on development of the knowledge economy?

We all have a sense that the information and communications technology (ICT) industry has transformed social media, education and the way business is done. But we are not sure what is the best way to use the knowledge economy to propel our future growth.In 1973, American sociologist Daniel Bell predicted the arrival of the post-industrial society by 2000, with a world dominated by the service industry, high-value professional and technical employment, and innovation driven by scientific research.

In 2000, the number of global Internet users was only 360 million, rising to 2.3 trillion with an annual growth rate of 528 per cent between 2000-2011, of which 45 per cent reside in Asia. The highest penetration of Internet usage is in North America (78.6 per cent), whereas penetration in Asia is only 26.2 per cent, pointing towards huge potential for Asian growth.

According to Internet World Statistics, the top Internet country in Asia is China, with 513 million users, followed by India (121 million), Japan (101 million) and Indonesia (55 million). Within Asia, the highest penetration is South Korea (82.7 per cent), Japan (80 per cent), Singapore (77.2 per cent), Taiwan (70 per cent) and Hong Kong (68.7 per cent). China has 38.4 per cent Internet penetration.

 

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by byu2012 on September 5, 2012  •  Permalink
Posted in Asia, Asian conferences, Industry
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Posted by byu2012 on September 5, 2012

https://theasiancenturyreport.wordpress.com/2012/09/05/the-knowledge-economy-and-internet-use-in-asia/

North Korea needs more reform to win China investment: South

North Korean leader Kim Jong Un

(Reuters) – North Korea needs to make it far easier to invest in its destitute economy if it is to have much hope of tempting in Chinese money, South Korea’s central bank said on Thursday.

The isolated North’s new leadership has been signaling in recent weeks plans to repair an economy brought to its knees by decades of mismanagement and international sanctions, but will rely heavily on neighboring ally China to do so.

A study released by the Bank of Korea, one of the few sources of information on the North’s economy, said that if successful, manufacturing investment from China could help transform a country whose national output in real terms is estimated by the United Nations to be smaller than it was some 20 years ago.

But the report warned that the North still had a long way to go to emulate the legal reforms undertaken by China in modernizing its centrally planned economy, something that Chinese premier Wen Jiabao raised with the North’s effective second-in-command on a recent visit to Beijing.

 

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by byu2012 on August 30, 2012  •  Permalink
Posted in Asia, China, Economics, Outbound Investment, Policy, South Korea
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Posted by byu2012 on August 30, 2012

https://theasiancenturyreport.wordpress.com/2012/08/30/north-korea-needs-more-reform-to-win-china-investment-south/

Apple, Samsung face sales bans in South Korea

Apple, Samsung face sales bans in South KoreaApple and Samsung both face sales bans in South Korea following a ruling from a panel of judges in Seoul that the electronics companies have infringed on each other’s patents.

The ruling, according to the Associated Press, doesn’t affect the latest smartphone from either company introduced after the case was filed — the iPhone 4S and Galaxy S III, respectively — but does require that older phones and tablets be pulled from shelves in South Korea. According to PCWorld, the iPhone 3GS, iPhone 4 and the first and second generations of iPad tablets can no longer be sold, along with the Samsung Galaxy S, SII, Galaxy Tab or Galaxy Tab 10.1.

The decision comes as both companies await a ruling in their U.S. patent dispute, now in the hands of a jury in San Jose, Calif. Apple and Samsung have also sued each other in European courts and in Australia in a worldwide battle over patent infringement.

The judges found that Samsung had infringed on an Apple patent that covers how the touchscreen behaves while scrolling, but also that Apple had infringed on Samsung wireless technology patents, the report said. The decision only affects South Korea but is notable because it affirmed Samsung’s claims regarding its mobile technology patents — in other courts, judges had found the patents were for industry-standard technology that had to be licensed to competitors.

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by gngn0 on August 27, 2012  •  Permalink
Posted in Apple, Asia, Samsung, South Korea
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Posted by gngn0 on August 27, 2012

https://theasiancenturyreport.wordpress.com/2012/08/27/apple-samsung-face-sales-bans-in-south-korea/

S. Korea’s Tensions with China, Japan May Hamper Economy

SEOUL, Aug. 17 (Yonhap) — A series of diplomatic flare-ups between South Korea and China and Japan could deal a setback to the country’s economy that is heavily dependent on trade with its two neighbors, analysts said Friday.

South Korea’s relations with Beijing and Tokyo have boomed in recent years, but they have often been strained by historical and territorial disputes in the region.

The latest diplomatic feud with Japan came after President Lee Myung-bak paid an unprecedented trip to South Korea’s easternmost islets of Dokdo last week.

Japan, which has repeatedly claimed its sovereignty to the resource-rich rocky outcroppings, has recalled its ambassador to South Korea and informed Seoul that it will take the matter to the International Court of Justice.

 

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by byu2012 on August 19, 2012  •  Permalink
Posted in Asia, Asian conferences, Business, China, Japan, South Korea
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Posted by byu2012 on August 19, 2012

https://theasiancenturyreport.wordpress.com/2012/08/19/s-koreas-tensions-with-china-japan-may-hamper-economy/

Asia Stocks Rise for a Third Week on Wen Comments, U.S. Economy

Asian stocks rose this week, with the benchmark index posting its longest weekly winning streak since March, after China’s Premier Wen Jiabao said there’s more room to adjust monetary policy and U.S. economic reports signaled strength in the world’s largest economy.

Fanuc Corp., a maker of industrial robots used in Chinese factories, gained 5.8 percent this week in Tokyo. Honda Motor Co., which depends on North America for more than 40 percent of its sales, climbed 5.8 percent. Nan Ya Printed Circuit Board Corp., a Taiwanese maker of computer hardware, surged 12 percent after a report the industry will grow. China Mobile Ltd., the world’s biggest phone company by subscribers, sank 7.8 percent in Hong Kong as profit growth slowed.

The MSCI Asia Pacific Index rose for a third-straight week, gaining 0.2 percent to 120.74 in its longest winning streak since the five days ended March 2. Through yesterday, the Asia- Pacific benchmark has retreated more than 6 percent from a Feb. 29 high amid concern China’s economy is slowing and Europe’s debt crisis is deepening.

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by byu2012 on August 18, 2012  •  Permalink
Posted in Asia, Asian conferences, Business, China, Finance, Industry, Market
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Posted by byu2012 on August 18, 2012

https://theasiancenturyreport.wordpress.com/2012/08/18/asia-stocks-rise-for-a-third-week-on-wen-comments-u-s-economy/

Political Tensions among S.Korea, China, and Japan will hamper economy ?

S. Korea’s tensions with China, Japan may hamper economy
SEOUL, Aug. 17 (Yonhap) — A series of diplomatic flare-ups between South Korea and China and Japan could deal a setback to the country’s economy that is heavily dependent on trade with its two neighbors, analysts said Friday.   South Korea’s relations with Beijing and Tokyo have boomed in recent years, but they have often been strained by historical and territorial disputes in the region.The latest diplomatic feud with Japan came after President Lee Myung-bak paid an unprecedented trip to South Korea’s easternmost islets of Dokdo last week.

Japan, which has repeatedly claimed its sovereignty to the resource-rich rocky outcroppings, has recalled its ambassador to South Korea and informed Seoul that it will take the matter to the International Court of Justice.

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by byu2012 on August 18, 2012  •  Permalink
Posted in Asia, Asian conferences, Business, China
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Posted by byu2012 on August 18, 2012

https://theasiancenturyreport.wordpress.com/2012/08/18/political-tensions-among-s-korea-china-and-japan-will-hamper-economy/

Exclusive: Freight dispute risks delay in Iran oil to China – sources

China has turned to NITC for delivery of the 500,000 barrels per day of crude it buys from Iran as a result of European Union sanctions. The EU measures took effect on Sunday and prohibit European insurers, who dominate the maritime sector, from offering cover on Iran crude.

Iranian oil shipments have already tumbled 40 percent this year, according to the International Energy Agency, as the Islamic Republic’s top customers – China, India, Japanand South Korea – scale back or halt their purchases amid Western sanctions aimed at halting Tehran’s nuclear program.

Industry watchers say Europe’s marine insurance sanction is the most effective by Western nations against Iran’s oil trade.

The sanctions ban EU insurers from covering tankers carrying Iranian crude anywhere in the world. About 90 percent of the world’s tanker insurance is underwritten in the West.

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by Innovator on July 3, 2012  •  Permalink
Posted in Asia, Bank, Business, Finance
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Posted by Innovator on July 3, 2012

https://theasiancenturyreport.wordpress.com/2012/07/03/exclusive-freight-dispute-risks-delay-in-iran-oil-to-china-sources/

Hong Kong shares reach a 7-week high, China edges up

China shares rose for a third day while the benchmark in Hong Kong, which reopened on Tuesday after a holiday, was Asia’s top performer, spurred by hopes of more monetary easing by the European Central Bank to revive economic growth.

The Hang Seng index rose 1.5 percent to finish at 19,735.5, its highest close since May 15. The benchmark managed to close above its 200-day moving average, currently at 19,554.8, which proved stiff resistance last month.

In Hong Kong, many shares rose in hefty volumes in the first hour of trading after the holiday weekend. This was partly rooted in short-covering by investors who had carried forward positions from Friday but covered as the market played catch up.

HSBC Holdings and China Mobile, which both rose more than 1 percent, were the top boosts for the Hong Kong benchmark. AIA rose 3.2 percent following the company’s sale of a part of its stake in Thailand’s largest convenience store chain.

Coal stocks, which have been hit by weaker demand and worries about oversupply, staged a sharp recovery with the largest players China Shenhua and China Coal both rising more than 4 percent. Yanzhou Coal gained 5.8 percent bouncing off last Friday’s 2-1/2 year intraday low.

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by Innovator on July 3, 2012  •  Permalink
Posted in Asia, Bank, Business, Finance
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Posted by Innovator on July 3, 2012

https://theasiancenturyreport.wordpress.com/2012/07/03/hong-kong-shares-reach-a-7-week-high-china-edges-up/

China HSBC PMI hits seven-month low of 48.2 in June

China’s factory activity shrank in June at the fastest pace in seven months as new export orders tumbled to depths last seen in March 2009, a private sector survey showed, underlining the risk of a lurch lower for the Chinese economy.

The HSBC Purchasing Managers‘ Index (PMI) fell to 48.2 after seasonal adjustments, its lowest since November 2011, and little changed from a flash, or preliminary, estimate of 48.1. The final reading in May was 48.4.

June was the eighth straight month of a reading below 50, the threshold dividing expansion from contraction in the survey methodology.

China’s official PMI, released on Sunday, also fell to a seven-month low in June. However, the official PMI was 50.2, indicating the sector was still expanding.

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by Innovator on July 2, 2012  •  Permalink
Posted in Asia, Bank, Business, Finance
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Posted by Innovator on July 2, 2012

https://theasiancenturyreport.wordpress.com/2012/07/02/china-hsbc-pmi-hits-seven-month-low-of-48-2-in-june/

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