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Reporter : Kim Bo-eun
Tue, October 3, 2023 | 06:30
How will South Korea-China relations unfold under Yoon administration?
HONG KONG - South Korea's new leader Yoon Suk-yeol's evident siding with the U.S. has had observers projecting that ties with China will weaken under the new administration. The new president's plans to boost engagement with Washington in security and trade comes at a time when the U.S. rivalry with Beijing is escalating in the Indo-Pacific region.
Will South Korea boost ties with Europe amid China-US rivalry?
HONG KONG - The European Union (EU) appears to be increasingly reaching out to economies in Asia, as the world's largest trading bloc reassesses its economic ties with China and seeks greater engagement with the Indo-Pacific region. The EU Council, composed of government ministers from each EU country, endorsed its Indo-Pacific strategy in October and has been accelerating mo...
Longstanding group serves Koreans in Hong Kong
HONG KONG - Hong Kong's handover to China by the U.K. and the Asian financial crisis were some of the major events that made headlines in the city in the past decades. But those events are fairly recent milestones compared to the history of the Korean Residents Association of Hong Kong, which has stood through thick and thin since its founding. The group supporting Koreans ha...
Hong Kong remains important trade partner for S. Korea
HONG KONG - The geopolitical situation in Asia continues to evolve, but Korea and Hong Kong remain important trading partners, data shows. Bilateral trade is set to get a further boost in the coming years when Hong Kong joins the Regional Comprehensive Economic Partnership (RCEP), the world's largest trade bloc, which Korea is also a member of.
Will Korea accelerate efforts to relocate supply chain bases from China?
HONG KONG - With its cheap and abundant manpower, China has long relished its role as the so-called world's factory, offering lower production costs to lure global brands and retain domestic manufacturers for decades. But a gradual rise in expenses, such as labor costs, has been weakening China's role as a go-to source of production for companies over the past five years, acc...
What will be South Korea's stance on Taiwan?
HONG KONG - Despite its relative geographic proximity to other Northeast Asian countries, Taiwan has not featured much as an important issue on the agenda of South Korean governments in past decades. Externally, South Korea has been much more preoccupied with its Northern neighbor with the Cross-Strait issue - referring to affairs between China and Taiwan - being almost irrel...
Regional economic alliances set to intensify China-US rivalry in Asia
HONG KONG - The U.S.-China rivalry has escalated over the years and is set to intensify with the launch of multiple trade groupings in Asia. The U.S. is preparing to launch the Indo-Pacific Economic (IPEF) Framework, which is widely seen as an effort to counter China's influence in the Asia-Pacific region. The economic potential of the region is considered massive, with a you...
North Korea-China trade on restoration path, but Pyongyang faces challenges
HONG KONG - North Korea is steadily restoring trade with China after bilateral commerce dived in 2020 and 2021 as the reclusive state closed its border to prevent the spread of the coronavirus. Trade with China totaled $318 million in 2021, down by 41 per cent from the previous year and by 90 per cent from levels before the pandemic, according to China Customs data.
China's role complicates North Korean denuclearization process
HONG KONG - Pyongyang's series of provocations this year signal that addressing the neighbor to the North will be one of the greatest challenges for President-elect Yoon Suk-yeol, who has pledged to take a hardline stance toward the reclusive state compared to his predecessor, Moon Jae-in. Yoon is scheduled to take office in May and has outlined the direction of his administr...
Korean shipbuilders bracing for fallout from Russia war
HONG KONG - Russia's invasion of Ukraine, which has added to disruptions caused by the ongoing coronavirus pandemic, has created increasing uncertainty for most industries, with shipbuilding one of them. South Korean and Chinese shipbuilders rank among the industry's top players, and as tensions are growing, the impact of the geopolitical decisions made in both Seoul and Beij...
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