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  • Samsung Heavy pre-empts investors with negative 2018 guidance

    SEOUL -- Samsung Heavy Industries said Wednesday that it is bracing for a group operating loss of 240 billion won ($219 million) for the year through December 2018, hit by delays in structural reforms and the rise of Chinese rivals. The South Korean

    December 7, 2017 07:10 am JST
  • Kepco takes lead to buy Toshiba UK nuclear unit NuGen

    SEOUL -- Korea Electric Power is entering one-on-one talks to acquire Toshiba's NuGen nuclear power business in the U.K., seeking a win for a South Korean team trying to expand its reactor-building business abroad.The partially state-owned utility

    December 7, 2017 05:36 am JST
  • Japan Display affiliate seeks funds to churn out printed OLEDs

    TOKYO -- Japan Display affiliate JOLED has brought in Sumitomo Chemical to help fund a new plant making organic light-emitting diode display panels via a novel low-cost method, though many more contributions are needed to make that plan a reality.Th

    December 7, 2017 02:00 am JST
  • B-1 bomber adds firepower to US-South Korea military drills

    SEOUL -- An American B-1B strategic bomber took part in U.S.-South Korean exercises Wednesday, officials here said, in a warning to North Korea following its latest ballistic missile test.The supersonic warplane took off from its base in Guam and fl

    December 7, 2017 01:58 am JST
  • Nikkei Asia300 Index extends losses on Trump's Jerusalem move

    MUMBAI (NewsRise) -- Asian stocks outside of Japan extended losses on Wednesday, amid concerns that U.S. President Donald Trump's move to recognize Jerusalem as the capital of Israel could trigger unrest in the Middle East.A plunge in copper prices

    December 6, 2017 09:18 pm JST
  • Hyundai Motor breached patents, claims contractor

    SEOUL -- Hyundai Motor is under the spotlight for allegedly stealing technology from a contractor, which has filed a petition calling for a criminal investigation of the automaker, as another company has emerged with similar allegations.BJC, an Inch

    December 6, 2017 07:44 pm JST
  • Cover story

    Asia braces for the end of easy money

    TOKYO -- Visitors to the Royal Palace Park in Phnom Penh don't need to worry if they forget to bring wads of Cambodian riel with them -- all of the owners of the nearby food and drink stalls tell their customers to pay in U.S. dollars anyway. It is

    December 6, 2017 03:25 pm JST
  • South Korean President Moon to visit China December 13-16: Xinhua

    BEIJING (Reuters) -- South Korean President Moon Jae-in will visit China from Dec. 13-16, China's official Xinhua news agency said on Wednesday, citing Foreign Ministry spokesman Lu Kang.Xinhua did not give further details but the visit will come at

    December 6, 2017 02:30 pm JST
  • South Korea's corporate giants face reckoning over outsize influence

    SEOUL -- Two decades after the Asian financial crisis rattled South Korea's conglomerates, the sprawling groups face a public frustrated by growing economic inequality and a president, Moon Jae-in, who has promised to undertake sweeping reforms.When

    December 6, 2017 11:30 am JST
  • Samsung doubles smartphone memory capacity

    SEOUL -- Samsung Electronics has doubled the capacity of its smartphone flash memory to 512 gigabytes, and has begun mass-producing the new storage packages, the company said Tuesday.The increased capacity is due to appear in premium phones includin

    December 6, 2017 04:15 am JST
  • South Korea to hike corporate tax, bucking global trends

    SEOUL -- The South Korean parliament is expected to pass Tuesday a bill to increase corporate taxes to 25% for the highest earning companies from next year, deviating from a global trend of corporate tax cuts.Party leaders agreed to raise the corpor

    December 5, 2017 06:55 pm JST
  • Vietnam's FPT bets on Apple with tenfold shop expansion plan

    HO CHI MINH CITY -- The retail arm of Vietnam's biggest information technology company FPT will list its shares on the Ho Chi Minh City bourse in the first half of next year, with the plan of using the proceeds over the next three years to open 100

    December 5, 2017 02:00 pm JST
  • Asia Insight

    Pope Francis clearing new path for Christianity in Asia

    YANGON/TOKYO -- On the third day of his recent visit to Myanmar, Pope Francis entered the Kaba Aye Center, one of the most important Buddhist temples in Yangon, with his shoes off in accordance with local customs.There, he delivered a message: "For

    December 5, 2017 12:15 pm JST
  • Vietnam's MoMo payment app on board with Uber

    HO CHI MINH CITY -- M-Service, a Vietnamese fintech company, and the U.S. ride-hailing company Uber Technologies signed a strategic agreement last week to enable passengers to pay for rides using the MoMo app, an online payment service in a country

    December 5, 2017 03:03 am JST
  • US and South Korea seek to cow the North with massive air drills

    SEOUL/WASHINGTON -- The U.S. and South Korea aim to turn the heat up as high as possible on North Korea with major joint air force exercises begun Monday, drawing attention to how the North reacts.Some 230 American and South Korean aircraft, includi

    December 5, 2017 02:44 am JST
  • Nikkei Asia300 Index rises as U.S. inches closer to corporate tax cuts

    MUMBAI (NewsRise) -- Asian stocks outside of Japan rose Monday as the U.S. took a step closer to passing a bill that offered significant tax cuts to businesses.The Nikkei Asia300 Index advanced 0.6% to 1,380.98.Index equity futures pointed to a stro

    December 4, 2017 08:34 pm JST
  • South Korea welcomes tax on clergy amid anger at privileged class

    SEOUL -- The South Korean government is planning to impose an income tax on pastors, monks and priests for the first time, starting next year, on the back of changing public sentiment toward religious leaders.The Finance Ministry announced last week

    December 4, 2017 07:46 pm JST
  • South Korea stands on shaky ground against earthquakes

    SEOUL -- An unusually strong earthquake last month rattled citizens and caused significant destruction in South Korea, but the impact could have been far smaller if locals faced up to the fact that occasional temblors are part of daily life in this

    December 4, 2017 04:00 pm JST
  • Professional managers steer Samsung in founding family's absence

    SEOUL -- Friday marked the 30th anniversary of Samsung Electronics Chairman Lee Kun-hee's tenure in office, a milestone that would normally be a badge of stability, but with the elder Lee in the hospital for more than three years and his son and de

    December 4, 2017 12:40 pm JST
  • Willem H. Buiter

    The case for getting rid of high-denomination bank notes

    I previously discussed the merits of going cashless to enable central banks, including the Bank of Japan, to set interest rates at more negative levels. While that may not happen any time soon, eliminating large denomination paper currency notes --

    December 4, 2017 11:30 am JST