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Sun, August 14, 2022 | 11:43
Why has Apple Pay been unavailable in Korea?
Talk of Apple Pay launching in Korea in partnership with a local credit card company is drawing interest to just what has prevented the entry of the tech giant's payment service here, since its introduction in 2014. In Asia, Apple Pay is available in mainland China, Japan, Taiwan, Hong Kong, Singapore and Malaysia. Questions have been raised over why Korea, where iPhones acco...
[Exclusive] KDB accelerates drive to set up new hub in EU
The Korea Development Bank (KDB) has initiated steps to set up a branch in Germany in order to establish a new base within the European Union (EU). The state-run lender has drawn up a task force for the purpose, and dispatched personnel to Frankfurt last month, a senior KDB official said. The task force will take steps to switch the KDB's office there into a branch to conduct...
China, S. Korea can both benefit from service sector pact: experts
HONG KONG ― Renewed talks between South Korea and China to further open their service sectors could represent a “win-win situation for both economies,” analysts said. The positive outlook came after chief negotiators from the two nations agreed to resume discussions on strengthening cooperation in the opening of services and investment markets at a follow-up negotiation to th...
What's Hong Kong's future as global financial hub?
HONG KONG ― Hong Kong has been engulfed by a series of major events in recent years, which have continuously raised questions about the city's future as an international financial center. Months of intense protests took place in 2019 against a now-shelved extradition bill, which extended into 2020 as controversy continues over the Beijing-backed national security law. Hong Ko...
Economic initiatives involving Russia, China derailed under Yoon administration
HONG KONG - An apparent shift in the external economic policy of South Korea's new government has put the brakes on a number of efforts in Russia and China that were initiated under the previous administration. And while the shift also reflects developing situations such as Russia's invasion of Ukraine, the abrupt sea change that has occurred with the leadership change has co...
Specter of recession looms large over Korea
HONG KONG - Korea's export-oriented economy faces an approaching global recession, experts warned Wednesday. The dire projection comes at a time when Korea is witnessing the highest level of inflation in decades, amid weak export growth. The consumer price index for June was up 6 percent year-on-year, which is the highest seen since November 1998, at the height of the Asian f...
'Green stocks are China's next tech stocks'
HONG KONG ― China's internet stocks have been top picks for investors around the world for years, but the government's regulatory stance toward the companies has led the shares to plunge over the past year. Stocks of Big Tech companies such as Alibaba have begun recovering in recent weeks, but analysts have referred to China's green energy stocks as holding greater investment...
Can Chinese demand cushion blow of US recession on Asian economies?
HONG KONG - Record-high inflation, aggressive rate hikes and stock market chaos have stoked concern that the U.S. economy could slip into recession, causing a growth slump in other parts of the world. In Asia, eyes are also fixed on China, with some wondering whether the world's No. 2 economy will be able to act as a buffer against a potential contraction in the U.S. China ha...
Xi praises 'one country, two systems' framework at 25th anniversary of Hong Kong handover
HONG KONG ― Chinese President Xi Jinping praised the "one country, two systems" principle on his two-day visit to Hong Kong, marking the 25th anniversary of the handover of the city by the U.K. to China. The remarks come as Beijing increases its influence over the city, with the passage of the national security law in 2020. It was the Chinese leader's first trip out of the ma...
Former journalist recalls handover of Hong Kong as 25th anniversary approaches
HONG KONG - Twenty-five years ago, on the eve of July 1, 1997, masses gathered at Tiananmen Square in Beijing to celebrate the U.K.'s official handover of Hong Kong to China, which ended 156 years of British rule over its former colony. Son Key-young, a former reporter for The Korea Times and now a professor at Korea University's Asiatic Research Institute was there to see th...
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