Posts tagged ‘South Korea’

21/03/2015

Top South Korea, Japan, China envoys agree to work for a summit soon | Reuters

The foreign ministers of South Korea, Japan and China agreed on Saturday that a summit meeting of their leaders, on hold for nearly three years because of tensions over history and territory, should be held soon to mend the countries’ ties.

(L-R) Japanese Foreign Minister Fumio Kishida, South Korean Foreign Minister Yun Byung-se and Chinese Foreign Minister Wang Yi make a toast during a banquet at the South Korean Foreign Minister's residence in Seoul March 21, 2015. REUTERS-Kim Hong-Ji

The ministers were meeting, also for the first time in three years, in a bid to restore what had been a regular forum to discuss cooperation until it collapsed over what Seoul and Beijing saw as Japan’s reluctance to own up to its wartime past.

“Based on the accomplishments achieved through this meeting, the three ministers decided to continue their efforts to hold the trilateral summit at the earliest convenient time for the three countries,” a joint statement after the meeting said.

via Top South Korea, Japan, China envoys agree to work for a summit soon | Reuters.

09/03/2015

China hints Japan to be invited to war memorial parade | Reuters

China will welcome all national leaders to a military parade marking the 70th anniversary of the end of World War Two, the foreign minister said on Sunday, the strongest sign yet that it could invite wartime enemy Japan.

Sino-Japan relations have long been poisoned by what China sees as Japan’s failure to atone for its occupation of parts of the country before and during the war, and it rarely misses an opportunity to remind its people and the world of this.

In the last two years, ties have also deteriorated sharply because of a dispute over a chain of uninhabited islets in the East China Sea, though Chinese and Japanese leaders met last year in Beijing to try to reset relations.

But the remarks by Chinese Foreign Minister Wang Yi come as the two countries plan to hold their first security talks in four years in Tokyo on March 19, an indication of a possible improvement in strained ties.

“Our goal is to remember history, commemorate the martyrs, cherish peace and look to the future,” Wang said of the parade at a briefing on the sidelines of China’s annual meeting of parliament.

“We will extend the invitation to the leaders of all relevant countries and international organizations. No matter who it is, as long as they come in sincerity, we welcome them,” Wang said in response to a question about whether Japanese Prime Minister Shinzo Abe would be invited.

via China hints Japan to be invited to war memorial parade | Reuters.

25/02/2015

Big national birthrate rise signals new peak|chinadaily.com.cn

Change to family planning policy likely to result in 1m extra babies each year

Big national birthrate rise signals new peak

A new peak in births is likely to occur as a result of the relaxing of the family planning policy and could continue for several years, according to experts.

They estimate that the number of babies born annually will rise by more than 1 million from current levels, bringing the total number of births each year close to that recorded during the last peak.

Last year, 16.87 million babies were born in China, 470,000 more than in 2013, according to the National Bureau of Statistics.

“This is a dramatic increase compared with previous years,” Yuan Xin, a professor of population studies at Nankai University in Tianjin, said.

The number of births declined steadily between 1999, when more than 18 million babies were born, and 2006.

Since then, the number of births has remained stable at less than 16.4 million, according to the bureau.

The big increase in the number of births last year was caused by a series of moves to relax the family planning restrictions, Yuan said.

Since late 2013, 29 of the 31 provincial regions on the mainland have enacted policies that allow couples to have a second baby if either partner is a single child, according to the National Health and Family Planning Commission.

About 1.07 million such couples had registered with the authorities to have a second child by the end of last year, the commission said.

via Big national birthrate rise signals new peak[1]|chinadaily.com.cn.

18/02/2015

Chinese insurer Anbang extends M&A drive with $1 billion South Korea buy | Reuters

China’s Anbang Insurance Group is paying $1 billion to buy a controlling stake in South Korea’s Tong Yang Life Insurance, extending a global acquisitions drive that has already seen it spend $10 billion in under four months.

Anbang agreed to buy a combined 63 percent stake in South Korea’s eighth-largest life insurer from three separate shareholders for 1.13 trillion won ($998 million), or 16,700 won per share, Tong Yang said in a regulatory filing on Tuesday.

This follows once-obscure Anbang’s deal announced just a day earlier to buy an insurance arm of Dutch bank and insurer SNS Reaal for at least 1.4 billion euros ($1.6 billion).

The privately-held insurer and asset manager, which according to a media report is considering an initial public offering this year, recently sealed a $1.95 billion purchase of New York’s landmark Waldorf Astoria hotel. It also bought the Belgian banking operations of Dutch insurer Delta Lloyd NV, for 219 million euros.

The flurry of deals shows Anbang’s global ambitions and comes as China’s financial firms are increasingly targeting assets outside of home for growth.

via Chinese insurer Anbang extends M&A drive with $1 billion South Korea buy | Reuters.

31/12/2014

Chinese diplomacy 2014

China made or re-established relationships or alliances in 2014 with 167 nations (a few multiple relationships); in:

  • January: Cambodia; Ghana; Bulgaria; Peru; Mongolia; Gulf States; Belarus; France; Taiwan; India; France; Germany; Viet Nam = 13
  • February: Fiji; Greece; Afghanistan; South Korea; Sri Lanka; Hungary; USA; Pakistan; Senegal; Afghanistan; Iraq; Vietnam = 13
  • March: Saudi Arabia; UK; Poland; Cambodia; South Korea; Netherlands, France, Germany, Belgium and EU; Kazakhstan; USA = 12
  • April: Israel; Namibia; Timor L’este; Myanmar; Laos: Australia; Brazil; Germany; Hungary; Syrian opposition leader; Malaysia; Cuba; Britain; Ghana; South Africa; Denmark; Brunei = 17
  • May: Ethiopia, Nigeria, Angola, and Kenya; Taiwan; Iran; Turkmenistan; Bulgaria; Portugal; France; Myanmar; Kyrgyzstan; Russia; Kazakhstan; Switzerland; Azerbaijan; Turkey; Pakistan = 18
  • June: Congo; Ukraine; Angola; India; Egypt; Denmark, Finland, Ireland ; Portugal; Russia; Afghanistan; Somalia= 12
  • July: Sudan; France; Azerbaijan; Switzerland; South Korea; Germany; USA; Brazil; Argentina; Venezuela; Cuba; Bulgaria; Portugal; Indonesia; Myanmar; Laos; Canada = 17
  • August: Egypt; Mauritania; at AEAN Summit (Vietnam; Korea; Myanmar; Malaysia; Thai, India); Hungary; Burundi; Uzbekistan; Mongolia ; Vietnam; Zimbabwe; Egypt; Czech; Turkmenistan; Turkey; Antigua & Barbuda; Croatia; Madagascar; Djibouti; Singapore; Croatia = 18
  • September: Russia; Romania; Poland; Malaysia; Cuba; Tajikistan; France;  Mongolia; Pakistan; Maldives; Sri Lanka; Zimbabwe; France; India; Indonesia = 15
  • October: Italy, Jordan, Kenya; France; Zambia; Afghanistan = 6
  • November: Indonesia; Pakistan; Iraq; Cambodia, Bahrain; Jordan; Australia; Finland; New Zealand; Nepal; Fiji; Slovenia; Columbia = 14
  • December: Uzbekistan; Australia; Pakistan; Maldives; South Africa; Ireland; Tonga; Cuba; Kazakhstan; Serbia; Republic of Korea; Cambodia = 12
26/10/2014

Three major nations absent as China launches World Bank rival in Asia | Reuters

Australia, Indonesia and South Korea skipped the launch of a China-backed Asian infrastructure bank on Friday as the United States said it had concerns about the new rival to Western-dominated multilateral lenders.

China's President Xi Jinping (R) meets with the guests at the Asian Infrastructure Investment Bank launch ceremony at the Great Hall of the People in Beijing October 24, 2014.  REUTERS/Takaki Yajima/Pool

China’s $50 billion Asian Infrastructure Investment Bank(AIIB) is seen as a challenge to the World Bank and Asian Development Bank, both of which count Washington and its allies as their biggest financial backers.

China, which is keen to extend its influence and soft power in the region, has limited voting rights in these existing banks despite being the world’s second-largest economy.

The AIIB, launched in Beijing at a ceremony attended by Chinese finance minister Lou Jiwei and delegates from 21 countries including India, Thailand and Malaysia, aims to give project loans to developing nations. China is set to be its largest shareholder with a stake of up to 50 percent.

Indonesia was not present and neither were South Korea and Australia, according to a pool report.

Japan, China’s main rival in Asia and which dominates the $175 billion Asian Development Bank along with the United States, was also not present, but it was not expected to be.

Media reports said U.S. Secretary of State John Kerry put pressure on Australia to stay out of the AIIB.

However, State Department spokeswoman Jen Psaki said: “Secretary Kerry has made clear directly to the Chinese as well as to other partners that we ‎welcome the idea of an infrastructure bank for Asia but we strongly urge that it meet international standards of governance and transparency.

“We have concerns about the ambiguous nature of the AIIB proposal as it currently stands, that we have also expressed publicly.”

In a speech to delegates after the inauguration, Chinese President Xi Jinping said the new bank would use the best practices of the World Bank and the Asian Development Bank.

“For the AIIB, its operation needs to follow multilateral rules and procedures,” Xi said. “We have also to learn from the World Bank and the Asian Development Bank and other existing multilateral development institutions in their good practices and useful experiences.”

via Three major nations absent as China launches World Bank rival in Asia | Reuters.

30/09/2014

China’s Legions of Tourists Will Spend $155 Billion Abroad This Year – Businessweek

China is preparing for roadways clogged with cars and trains overloaded with travelers during its weeklong National Day holiday starting Oct. 1. But the real action for Chinese tourists will be happening overseas.

Chinese tourists in Paris

Over the full year, 116 million Chinese tourists are expected to travel abroad and spend $155 billion, up 20 percent over 2013, projects a new report by the China Tourism Academy. That compares with less than $55 billion that will be spent by tourists inside the country, a gap of more than $100 billion. “The deficit will further increase in the future,” predicts academy head Dai Bin, who was quoted in the China Daily.

China now sends more tourists abroad than any country in the world, according to China’s National Tourism Administration. Favored destinations include Australia, South Korea, and Southeast Asian countries as well as, increasingly, Europe and the U.S. Chinese tourists abroad will exceed half a billion annually within five years, says Shao Qiwei, administration chief of the English language paper.

In the first half of this year, Chinese spent $70 billion on overseas travel, up 20.7 percent from the same period a year earlier. Chinese travelers abroad spend almost three times as much per capita as foreign tourists in China, says Fan Zhiyong, an economist at Renmin University in Beijing, the official Xinhua News Agency reported.

Along with hotel lodging fees and restaurant meals, overseas spending includes plenty of purchases of such high-priced products as Rolex watches, Prada (1913:HK) shoes, and Chanel handbags. One-third of all Chinese travel expenditures goes to buy goods, often “luxury items—to take back home,” says McKinsey & Co. in a June report. Total spending could reach $194 billion by 2015, Morgan Stanley (MS) estimated last year.

via China’s Legions of Tourists Will Spend $155 Billion Abroad This Year – Businessweek.

05/08/2014

Samsung Loses Top Spot to Micromax in India – India Real Time – WSJ

Samsung Electronics Co.005930.SE -0.08% was dethroned as the top cellphone seller in India last quarter as local rival, Micromax Informatics Ltd., undercut and outsold the Korean company for the first time in Asia’s third-largest economy.

Micromax which was launched only five years ago, has taken the pole position in the Indian market—the second largest in the world in terms of handset sales—by undercutting the prices of Samsung and other international brands.

In the April-through-June quarter Micromax’s market share reached 17% of the Indian market compared to Samsung’s 14%, according to Counterpoint Technology Market Research, a research and consulting company based in Hong Kong.

Samsung, the world’s largest cellphone company by sales, is facing tough competition from Micromax and other Indian handset sellers. The South Korean company lost its top spot in terms of handset volumes as it has shifted its focus to smartphones and away from the less-expensive feature phones, said Neil Shah an analyst at Counterpoint.

Micromax has been more successful than most at targeting the Indian consumer. In the past five years it has come out of nowhere by investing heavily in advertising, distribution and developing a portfolio of relatively inexpensive handsets for Indians.

Samsung may be trying to claw back some of its market share. The company, last week, added three more smartphones to its “affordable” category of handsets priced below 10,000 rupees.

via Samsung Loses Top Spot to Micromax in India – India Real Time – WSJ.

01/07/2014

Samsung’s China Labor Problems Persist – China Real Time Report – WSJ

Samsung Electronics Co.’s latest sustainability report, published Monday, is a rare look inside the operations of the company. Among the takeaways: Samsung is still struggling with poor labor conditions at its Chinese suppliers.

A third-party audit of 100 of Samsung’s suppliers in China last year showed that 59 failed to provide sufficient safety equipment, like earplugs and protective goggles, or did not monitor workers to ensure they were using such equipment, according to the report.

The report lists a series of other problems found by the audit, including issues related to wages and benefits and emergency preparedness. The audit also found that a majority of the suppliers do not comply with China’s legally permitted overtime hours. Samsung said it has demanded its suppliers address all the violations found by the report.

The results follow a vow made by Samsung in 2012 that it would address unfair labor practices at its Chinese suppliers, including overwork and denial of basic labor rights. On multiple occasions, the company has been accused by New York-based non-profit organization China Labor Watch of malpractice at some factories that do work for Samsung.

In a separate statement on Tuesday, Samsung said: “We have adopted a multi-year, multifaceted supplier management plan since 2012 to address the findings of internal and independent audits of Samsung supplier companies in China.”

“If any suppliers are found to have not made progress, Samsung will constantly call for corrective actions to ensure the issue is resolved in the shortest time possible,” it said.

Maintaining a safe and fair working environment for its staff and those of its suppliers around the globe has been a growing challenge for the world’s largest maker of smartphones, TVs and memory-chips. The company has come under scrutiny over related issues not only in China but also in Brazil and at home in South Korea.

via Samsung’s China Labor Problems Persist – China Real Time Report – WSJ.

13/06/2014

Does China Care About its International Image? | The Diplomat

China’s global image faces challenges — but if asked to choose between its national interests and preserving its national image, China would choose the former

Does China Care About its International Image?

A recent poll conducted by the BBC World Service shows that China’s international image is not that great around the world. Although this year China’s international image is equally divided (42 percent vs. 42 percent) between those who think China’s influence is positive and those who think it is negative, China’s image in Japan and South Korea (two of China’s most important Asian neighbors) is quite negative. In South Korea, only 32 percent of South Koreans have positive perceptions of China whereas 56 percent of them hold a negative perception of China. In Japan the picture is ugly as only 3 percent (a record low) of Japanese hold positive views of China whereas 73 percent view China as a negative influence in Asia.

However, China’s image in Africa and Latin America is quite positive. All three African countries surveyed have very high levels of positive views of China, with 85 percent in Nigeria, 67 percent in Ghana, and 65 percent in Kenya. Of all four Latin American countries surveyed, only Mexico has more negative views than positive views of China (40 percent vs 33 percent); the other three countries are mostly positive about China (Peru 54 percent vs. 24 percent; Brazil 52 percent vs. 29 percent; Argentina 45 percent vs. 20 percent). Another interesting finding about China’s international image is that most advanced countries hold negative views of China, with the U.K. (49 percent vs. 46 percent) and Australia (47 percent vs. 44 percent) being exceptions. Especially puzzling is Germany, which only has a 10 percent positive view of China against 76 percent negative views of China. This might not be surprising as most advanced countries happen to be democracies and they are often quite critical of China’s lack of democracy and human rights problems.

A natural question that one might ask is “does China care about its international image?” Due to China’s recent assertive actions (here and here) in East China Sea and South China Sea, it might seem like China is not worried about its image among its Asian neighbors. But it is inconsistent with China’s efforts in recent years to enhance its soft power and build a positive national image around the world. Thus, the puzzle is this: if China does care about its international image, why would China behave in a way that hurts its own national image? This is a legitimate question given some evidence showing that many in Asia now see China as a big bully.

There are three possible explanations for the seeming inconsistency between China’s national image campaigns and its recent assertive behavior. First, it could be that China does not genuinely embrace the idea of national image or soft power. According to realist logic which is dominant in China, what really matters in international politics is material power; also, soft power often is a byproduct of material power. Thus, the Chinese leadership might have accepted the idea “it is better to be feared than loved” in international politics. If indeed this is the reasoning behind China’s foreign policy in recent years, then it is not surprising at all that China feels little need to promote its national image.

The second reason could be that China does care about its national image but the problem is that China is inexperienced or even clumsy in promoting its national image. Indeed, in recent years China has put in lots of resources into its ‘public diplomacy’ which has generated mixed results. Just think about how much money Beijing spent on the Beijing Olympics 2008 to promote China’s positive image. It is abundantly clear that Beijing does want to present a positive and peaceful national image to the international community. Nonetheless, it could well be that officials in China who are in charge of promoting national image are incompetent or there is no coordination between different ministries and actors such as the Foreign Affairs ministry and the military. For example, the Ministry of Foreign Affairs finally released a position paper on the 981 oil rig crisis after a month had passed. Although this is helpful, one wonders why China could not have done it earlier. Now the damage is already done. Also, China has maintained that Vietnamese vessels have rammed Chinese vessels more than 1,400 times, but it would be much more convincing if China could release videos showing how the Vietnamese vessels rammed Chinese ships. There are many other examples like this one, suggesting that China’s public diplomacy needs to be more skillful and sophisticated if it is going to win international public opinion.

Finally, China’s neglect of its national image could be explained by a rational choice strategy that puts national interests in front of national image. Thus, China does care about its national image, but it cares more about national sovereignty and territorial integrity. When forced to choose between sovereignty and national image, China will choose sovereignty — and any other country would do the same. As Xi Jinping said earlier this year, China will never sacrifice its core national interests, regardless of the circumstances. Viewed from this perspective, national image becomes secondary compared to territorial integrity.

via Does China Care About its International Image? | The Diplomat.

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