Articles by Choi Si-young
Choi Si-young
siyoungchoi@heraldcorp.com-
S. Korea warns businesses against hiring NK IT workers
South Korean authorities warned businesses against inadvertently hiring IT staff from North Korea who mask their true identities and take advantage of remote opportunities to skirt international sanctions and earn cash, which is used to bankroll the isolated country’s nuclear and missile programs. “These workers are making millions of dollars annually for the work they do for global IT companies. … And by the day, the money they bring in is making up a bigger part of the dolla
North Korea Dec. 8, 2022
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Asian health experts debate how to combat pandemics
Health experts in Asia -- regulatory officials, practitioners and consultants -- discussed how the lessons learned from the COVID-19 could help them to coordinate a more effective response to fight off pandemics to come, at a forum held in Seoul on Wednesday. Keynote speaker Tore Godal -- founding chief executive of Gavi, a global vaccine alliance that works on increasing access to immunization in poor countries -- kicked off the annual Vaccine Cooperation Forum in the Indo-Pacific Region, cohos
Foreign Affairs Dec. 7, 2022
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Envoys call for Seoul-Tokyo thaw to counter NK threats
South Korea and Japan need to step up efforts to advance their ties to better counter growing missile threats from North Korea, according to the top envoys from Seoul and Tokyo. The two Asian neighbors are still locked in longtime historical disputes, the latest of which involves compensating Koreans forced to work for Japanese companies during World War II. The unprecedented frequency of Pyongyang’s missile launches this year, however, are forcing Seoul and Tokyo to put their differences
Foreign Affairs Dec. 6, 2022
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[Herald Interview] Vietnam wants S. Korea’s help to upgrade economy: top envoy
South Korea -- the biggest investor in the Vietnamese economy -- is well positioned to provide key support for Hanoi to be part of global supply chains, Vietnam’s foreign minister said Monday. “Vietnam welcomes and encourages Korean firms to make new investments or expand existing ventures in Vietnam … We look forward to receiving the Republic of Korea’s assistance to be part of the global value chains of Korean corporation,” the minister, Bui Thanh Son, told The K
Foreign Affairs Dec. 5, 2022
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South Korea elevates relations with Vietnam amid efforts to boost trade
The South Korean and Vietnamese presidents agreed to take ties to a higher level at a summit held in Seoul on Monday, as Asia’s fourth-largest economy steps up its push to expand its reach into Southeast Asia amid the rising US-China tech rivalry. The three-day summit, which started Sunday and had last taken place 11 years ago, is the latest highlight of the Yoon Suk-yeol administration’s drive to reduce its economic dependence on Seoul’s largest trading partners -- China and t
Politics Dec. 5, 2022
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Freed S. Korean sailors arrive in Ivory Coast to fly home
Two South Korean sailors abducted by unidentified pirates near the Gulf of Guinea nine days ago arrived at Ivory Coast’s main port of Abidjan on early Saturday, all in good health, the Foreign Ministry said. All 19 crew members, including 17 Indonesians aboard a Marshall Islands-flagged oil tanker -- towed to port by a tugboat -- were freed a day after pirates took over the vessel on Nov. 24 in what authorities suspect to be crude theft, worth at least 3 billion won ($2.3 million), accordi
Foreign Affairs Dec. 4, 2022
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South Korea seeks changes to US tax rules on EVs
The Foreign Ministry said Friday the South Korean government had asked the US government to ease its tax rules on electric vehicles so Korean automakers are not unfairly put at a disadvantage over EV incentives. The Inflation Reduction Act, effective since Aug. 16, leaves out Hyundai Motor and its affiliate Kia from federal tax credits since they do not make their electric vehicles in North America. Rules that go in effect on Jan. 1 next year also require at least 40 percent of the monetary valu
Foreign Affairs Dec. 2, 2022
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‘Dr. Doom’ Roubini warns of China crisis amid ‘megathreats’
SEOGWIPO, Jeju Island -- Fighting off “megathreats” or an avalanche of disasters involving political, economic, financial, technological and environmental challenges will be the priority for the international community for the next 20 years, as an anti-America coalition led by China seeks out a world less dominated by the previously undisputed superpower, according to American economist Nouriel Roubini. The emeritus professor of economics at New York University -- who is better known
Foreign Affairs Dec. 2, 2022
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Yoon to host Vietnamese leader in push for better ties with Southeast Asia
President Yoon Suk-yeol will meet with Vietnamese President Nguyen Xuan Phuc in Seoul on Monday to elevate their 30 years of diplomatic ties, as South Korea looks to expand its reach into Southeast Asia. During Phuc’s three-day state visit that starts Sunday -- the first of its kind Yoon will be hosting since he came to office in May -- the two leaders will discuss a number of topics from security and business to any other issues that need immediate attention, Yoon’s office said in a
Politics Dec. 1, 2022
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Yoon’s envoy says NK insult shows pressure is working
The insult North Korea hurled at President Yoon Suk-yeol and his administration last week for pursuing additional sanctions on the isolated country after its missile launches is evidence that efforts led by South Korea and the US to curb Pyongyang’s nuclear ambitions are in fact working, according to Yoon’s US envoy. On Thursday, Kim Yo-jong -- the powerful younger sister of North Korean leader Kim Jong-un -- called Yoon and his government “idiots” serving its master, the
Foreign Affairs Nov. 29, 2022
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Wartime labor dispute still remains as hurdle to Yoon-Kishida meeting
An unresolved dispute over compensating South Koreans forced to work for Japanese companies during World War II is likely to be the source of unease preventing the two leaders from meeting for some time, experts said Monday shortly after Seoul quickly downplayed speculation over a potential summit taking place by the end of the year. Seoul and Tokyo are working to reset their strained ties as President Yoon Suk-yeol -- who came to office in May vowing to address the issue -- steps up efforts to
Foreign Affairs Nov. 28, 2022
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Bank of Korea flags growth, credit fears as it reins in interest rate hike
The Bank of Korea raised its policy rate by 25 basis points Thursday, returning to its usual pace of tightening as growth and credit markets falter in the face of 24-year-high inflation running close to three times the central bank’s 2 percent target. The unanimous decision the seven-member board reached to put the current rate at 3.25 percent -- a rise of 275 basis points since August last year -- underscored the central bank’s commitment to more increases despite their impact on gr
Economy Nov. 24, 2022
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Market manipulation probe could dent MSCI hopes
The latest probe by the Korea Exchange into alleged market manipulation by two foreign investment banks in South Korea is creating friction between the bourse operator and global investment banks, amid Seoul’s push for recognition in the Morgan Stanley Capital International developed market index. According to sources Wednesday, the KRX is looking to fine the Seoul offices of Morgan Stanley and CLSA, a Hong Kong-based investment bank, for having failed to warn investors in advance when a r
Market Nov. 23, 2022
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[Herald Interview] New markets, startups can counter crisis: Arthur D. Little CEO
As colliding shocks prompted by inflation rocks the global economy, policymakers are managing their expectations for growth while companies are searching for ways to ride out the disruptions following a potential global recession. The pace of recovery will be as much different as the size of the impact and there is no universal way of preventing and mitigating such a crisis in coming years. For South Korea, however, the antidote lies in finding new markets to avoid overdependence and launching s
Industry Nov. 23, 2022
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[Herald Interview] Global talent can expand K-pop’s reach, entrepreneur says
With the global success of BTS reaching new heights, there are some who think this might be a high-water mark for K-pop. But a Singaporean entrepreneur who has himself debuted as a singer in South Korea is more optimistic, saying embracing global talent is one way to expand K-pop’s reach. “As K-pop is widely loved globally, it would be to its advantage to be even more globally inclusive to talents worldwide,” David Yong, chief executive of Evergreen Group Holdings, said in an i
Industry Nov. 22, 2022
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