Themes on Upgrading and Renewing

The biggest Cross-Border E-commerce Fair Opens in China FUZHOU, China, March 18, 2025 /PRNewswire/ -- On March 18th, the 5th China Cross-border e-Commerce Trade Fair grandly opened in Fuzhou, China. Over 1,800 enterprises from 28 Chinese provinces, as well as those overseas from the US, France and Poland, participated. The exhibition area reached 60,000 square meters, which is 20% more than that of the previous session. With upgrading as its theme, the fair focused on "digitalization" and "new globalization," showcasing its continuous innovation. Strategic Upgrades: Launching the Conference The fair coincided with the 2025 China Cross-border e- Commerce Conference, themed "Upgraded to be Global". It gathered founders of manufacturing companies, CEOs of large-scale exporters, senior executives from top e-business platforms, authors on global marketing, influencers with millions of followers, scholars and institutional experts, etc.. At the opening ceremony, Mr. Deng Hai, the host representative and the CEO of Midodo Technology, announced the release of the 2025 Blue Book of the Upgrade and Development on China Export Cross-border e-Commerce, which is also the first cross-border e-commerce blue book in the year of 2025. Concept Upgrades: Data-Driven Exhibition This fair introduced the innovative concept of data-driven expo, offering digital achievements to the exhibitors and visitors. For the first time, category-data displaying walls were set up in various zones, showcasing product data from multiple sources like Amazon and TikTok, to help product-selection and R&D. In e-commerce, 70% of success depends on product selection, while balance on operations. Product selection directly impacts a company's competitiveness. The fair also upgraded the Potential Products Prediction Zone, inviting well-known data providers to release the relative reports, guiding the sellers in product-selection. Zone Upgrades: People-Oriented Following the success of the previous session, this fair invited again several overseas influencers to attend for live-streaming sales, and set up a "One-to-One Negotiation Zone for those influencers," to meet Chinese enterprises' demand on local marketing and talent when going overseas. The Business Clinic is expanded too, with new experts capable on niche platforms like Voghion, Etsy, Kogan, Trademe, and for the first time AI-capable businessmen. Structural Upgrades: Stronger and Better The fair sticked to its principle of suppliers to be the main participants, and the proportion of suppliers reached 80% again. Notably, there were more large-sized exhibitors than before, and the area of custom-built booths accounted for nearly 50%, hitting a new high. This fair gathered well-known platforms around the world, which not only included e-commerce barons such as Amazon, eBay, Walmart and Wayfair, but also local magnates, like Shopee and Lazada from Southeast Asia, Coupang from Korea, Rakuten from Japan, Mercado Libre from South America, and European platforms like Cdiscount, OZON, eMAG, Allegro, JoomPro etc.. Chinese platforms like Alibaba.com, Made-in-China, DHgate, SHEIN, TEMU, 1688, Taobao Overseas and Rednote attended as well. Totally about 50 high-level forums and business-matching activities will be held during this fair. These events were widely popular on the first day, with full attendance.

Seoul Mayor Oh Se-hoon signals presidential bid with new slogan: 'KOGA'

'Korea Growth Again' aims for 5% real growth rate via reforms Seoul Mayor Oh Se-hoon has unveiled the regulatory reform slogan "KOGA" — "Korea Growth Again" — presenting it as both his governance philosophy and national vision, in an implicit signal of his presidential ambitions. During a city government-led forum Tuesday, Oh brought up the KOGA concept, suggesting fundamental systemic changes to the country. "(KOGA) is not just about individual policies; it's about a unified philosophy and direction. Ultimately, it aims to present solutions for economic prosperity and national sustainability," he said in a keynote speech. "Politics should not be a source of concern for the people. Without constitutional reform, political turmoil will continue to repeat itself. Instead of focusing on short-term political advantages, we must focus on fundamental changes. Otherwise, there will be strong public resistance," Oh said during the event, addressing the current political turmoil involving impeached and suspended President Yoon Suk Yeol. Later in the afternoon, Oh also met with former President Lee Myung-bak for a closed-door meeting. Before serving as a president from 2008 to 2013, Lee was Seoul Mayor from 2002 to 2006. "Regulatory reform is essential for growth. We have too many regulations. While the world is adapting to the digital age, politics remains stuck in the analog era. Global competition is evolving to a whole new level, and the people must be feeling frustrated. I see that the Seoul mayor is addressing this issue, but politics needs to go beyond that. Without economic growth, we cannot earn global recognition," Lee told Oh in front of reporters, prior to their meeting Tuesday afternoon. Lee, 83, also commented on Oh's new slogan "KOGA," encouraging the idea. "This is the most relevant slogan for our time. ... Seoul functions almost like a nation in itself, so it should be managed well based on experience," Lee added. Oh, reelected as Seoul mayor in July 2022, has long argued that the nation's economy has been trapped in a cycle of declining growth. Industries worldwide have rapidly evolved with artificial intelligence, biotechnology, financial technology and robotics, while Korea has remained reliant on its traditional industries for the past 20 to 30 years, according to Oh. The mayor said he believes that the country's economic growth is being hindered by unreasonable tax structures like the inheritance tax and high regulatory barriers that could restrict even top 100 global companies and startups from conducting business here. Stressing the need for bold industrial policies, Oh also proposed ways to keep a 5 percent real growth rate — a combination of the economic growth rate and inflation rate — such as through active fiscal investment in infrastructure, future talent development and tax and labor market reforms, as well as deregulation led by the private sector. Details of Oh's envisioned regulatory reform are to be published in a book to be released by the city government, titled with the slogan he unveiled Tuesday. "KOGA: Oh Se-hoon’s Five Pillars of Partnership Become the Future” is set for release later this month. The book will also reflect Oh’s administrative philosophy, incorporating insights from his leadership experience and Seoul’s policy achievements. Kim Byung-min, Seoul’s deputy mayor for political affairs, told reporters that the book aims to identify new growth drivers for South Korea. "South Korea is at a critical juncture where people are concerned about whether the country can sustain its growth momentum. … Through this book, Mayor Oh will stress the need for innovation and national confidence.” Emphasizing that the book is not like a conventional memoir or a collection of personal opinions, the city government said the book was “a strategic blueprint” for South Korea’s future.

World Bank and Global Labor Market Conference Deepen Partnership to Shape the Future of Work

RIYADH, Saudi Arabia, Jan. 30, 2025 /PRNewswire/ -- The World Bank and the Global Labor Market Conference (GLMC) have struck a new three-year partnership to shape labor regulation and policy into the middle of the 21st century. GLMC already had a strategic Knowledge Partnership with the World Bank with the new collaboration marking a major expansion of their work. Main elements include training global labor market policymakers of tomorrow and the ongoing delivery of research to provide groundbreaking insights for governments and organisations on themes including future labor market demands, employment trends, labor policy and the workforce skills development. Upskilling Tomorrow's Labor Market Policymakers The World Bank's collaboration with GLMC, a think tank for shaping real-world strategies to tackle labor market challenges, aims to produce a new vanguard of policymakers. These will primarily be drawn from nations under the World Bank mandate – equipping them with the insight, approaches, knowledge, and skills to create equitable and sustainable labor markets. The world's labor market is undergoing profound transformations driven by the rapid rise of the Global South and unprecedented technological advancements. Developing nations are becoming significant players in global trade, while automation and digital innovation reshape industries and economies more than ever. As these changes accelerate, there is a growing need for policy and policymakers who can navigate the complexities of an evolving workforce and an evolving world to ensure labor regulation contributes to shared global prosperity. Training elements will therefore include: Commenting on GLMC's expanded partnership with the World Bank, Safaa El Tayeb El-Kogali, World Bank Country Director for the (GCC) countries, said: "We are proud of the long-standing collaboration between the GLMC and the World Bank. Today, we are taking our partnership to a new level by jointly fostering knowledge exchange and sharing best practices with the global community. As we gather for the Second Edition of the GLMC, and look forward to many more to come, we share a mission that aims to advance innovative initiatives and comprehensive strategies to address the extraordinary shifts in the nature of work. From the rapid proliferation of AI to the urgent challenges of growing youth unemployment and the promising rise of green jobs, we at the World Bank, remain committed to shaping a more inclusive and resilient global workforce." Delivering Research and Insights Through joint research and the development of forward-thinking policies, GLMC and the World Bank's partnership aims to ensure that all countries, especially emerging economies, can benefit from a more inclusive and dynamic global labor market. This week, GLMC and the World Bank will release a new approach paper, Making Labor Markets Work for the Youth, which analyzed the number of inactive youth, aged 15-24, in the labor market, and looks to identify the socio-economic consequences of youth inactivity, propose a framework to prioritize interventions to improve youth labor market outcomes and provides evidence on successful global interventions.

Virtuoso teens lead New Year's concerts

Rising star violinists Kim Seo-hyun and Lee Hyun-jung, and cellist Han Jae-min showcase their extraordinary talent As the new year begins, three of South Korea's major orchestras are set to captivate audiences by featuring teenage prodigies who exemplify how early dedication and exceptional talent can achieve extraordinary results. The Seoul Philharmonic Orchestra, KBS Symphony Orchestra, and Gyeonggi Philharmonic Orchestra will each showcase a rising virtuoso: violinist Kim Seo-hyun, violinist Lee Hyun-jung, and cellist Han Jae-min, respectively. On Friday, the Seoul Philharmonic Orchestra will take the stage at the Sejong Center for the Performing Arts, joined by violinist Kim Seo-hyun, born in 2008. In an interview for The Korea Herald's “Rising Virtuosos” series last year, Kim shared her passion for planning practice schedules and her relentless drive, admitting that she never feels fully satisfied after a practice session. This dedication to her craft has already earned her an impressive international profile. In 2021, Kim won consecutive victories at the Ysaye International Music Competition and the Leonid Kogan International Violin Competition. The following year, she became the youngest-ever winner of the Thomas and Evon Cooper International Competition. In 2023, at just 14 years old, she set yet another record as the youngest-ever winner of Switzerland's esteemed Tibor Varga International Violin Competition. Kim is set to deliver an unforgettable performance of Sibelius' Violin Concerto with the SPO under the baton of Jaap van Zweden. Also in the evening's program are Mendelssohn's Symphony No. 4, “Italian,” Johann Strauss II's Overture to "Die Fledermaus," and "The Blue Danube." On Jan. 18, the Mapo Cultural Foundation will present its New Year's concert at the Mapo Arts Center with the KBS Symphony Orchestra, featuring violinist Lee Hyun-jung. Born in 2010, Lee shared that she goes to bed with a sense of accomplishment, allowing herself to rest only after mastering a difficult section. She achieved remarkable success last year at just 13, winning second prize, the Audience Award and the Best Performance of a Commissioned Work at the George Enescu International Competition in Romania. She also claimed first place at the Leonid Kogan International Competition and the grand prize at the Rising Star Grand Prix International Music Competition, cementing her status as a rising star. With the KBS Symphony Orchestra led by Kim Kwang-hyun, former chief conductor of the Wonju Philharmonic Orchestra, Lee will perform Tchaikovsky's Violin Concerto in D major. On Jan. 19, the Gyeonggi Arts Center will host a New Year's concert featuring the Gyeonggi Philharmonic Orchestra and cellist Han Jae-min. With the orchestra, Han will perform Saint-Saens' Cello Concerto No. 1. The orchestra will also perform Dvorak's Carnival Overture and his Symphony No. 9, “From the New World.” Born in 2006, Han rose to international prominence in 2021 by becoming the youngest winner in the history of the George Enescu International Competition. In 2022, he went on to win the Isang Yun International Competition. In an interview with The Korea Herald, Han expressed his aspiration to refine his musical style and grow artistically after intense competitions. He will take the stage at the KBS Symphony Orchestra's first regular concert of the year on Jan. 24 at Lotte Concert Hall. Under the baton of Eliahu Inbal, the orchestra will present Mozart's Symphony No. 25, Bartok's Concerto for Orchestra, and Shostakovich's emotionally profound and technically challenging Cello Concerto, featuring Han.

[Rising virtuosos] From Pororo to Paganini: 13-year-old violinist Lee Hyeon-jeong’s journey to the world stage

It all began with a Maxim Vengerov recital: A little girl in the audience, who, like most kids her age enjoyed singing tunes from the Pororo cartoon series, found herself suddenly drawn to the world of classical music. For most Korean children born around 2010, growing up meant loving Pororo the Little Penguin, affectionately nicknamed "President Po" for the power he wielded over the pre-kindergarten set. As they got older, many of these kids would move on to other music genres, often developing a passion for K-pop. This would most likely have been the case for the now 13-year-old Lee Hyeong-jeong, born in December 2010, but for the first concert she attended at age 6 with her mother -- a violin recital by Maxim Vengerov. It sparked a passion for the violin that would reshape her daily routine and life ambitions. Learning the violin transformed Lee in profound ways. Once enthusiastic about all kinds of sports -- skiing, ballet, hockey, speed skating -- she now avoids them, fearing an injury that could affect her fingers. Her hands have even adapted to her craft: her left fingers are nearly a centimeter longer than those on her right hand. Where she used to love hanging out with friends, she now spends long hours in soundproof practice rooms, refining her technique. Lee’s mother always knew her daughter was fiercely competitive and had a deep-seated drive to win. Once Lee began learning the violin, she would practice up to eight hours a day, determined to perfect each piece. Only after mastering a difficult section would she allow herself to rest, going to bed with a sense of accomplishment. Her efforts often meant sacrificing sleep, but it paid off. Lee, who studies with Sunny Lee at the Seoul Central Conservatory, has earned many accolades. In 2022, after sweeping the domestic competitions, Lee debuted at the Kumho Prodigy Concert, which showcases young talents under 14. That same year, she became the youngest first-prize winner at the Leonid Kogan International Competition for Young Violinists and also won the overall grand prize and a scholarship at the Rising Stars Grand Prix International Music Competition in Berlin. This September, Lee, the youngest participant, took home two awards from the George Enescu International Competition in Romania, winning both the second prize and the Audience Award. Of the 50 finalists, 15 were Koreans, and she was the youngest. The first prize went to Mayumi Kanagawa, a 30-year-old violinist from the US, and the third prize was awarded to 21-year-old Wakana Kimura from Japan. "The larger the audience, the less nervous I feel," Lee told The Korea Herald in an interview on Oct. 31, adding that the final round at the Romanian Athenaeum in Bucharest was especially memorable due to the reaction from the 1,000 attendees. Preparing for the competition over two months, Lee faced two major challenges: lack of sleep and memorizing all the scores for the several rounds in the competition. Although it wasn't required to memorize all the scores, she preferred to do so. A young teenager still growing, she couldn’t help feeling sleepy sometimes. To stay awake, she would splash water on her face or chew on an ice cube. Her mom, who was exhausted from the pressure and the long travel, asked Lee if she could embrace such a lifestyle, traveling all the time. Before going to Romania this year, Lee had already performed in Austria, Germany, Japan and China. Lee's answer was an ambitious one. By the time she turns 23 -- 10 years later -- she would be traveling the world as a professional violinist and, if she’s lucky, would record an album with the famous record label Deutsche Grammophon. The fun part of the competition was mastering difficult pieces. "Paganini's compositions are known for their incredible technical demands. I've heard he could mesmerize his audiences with his performances, and I find that aspect really fascinating. During the competition, I played Paganini’s Caprice No. 24 in the first round, and practicing those technical skills was a lot of fun," Lee said. With tremendous potential, Lee aspires to become a violinist who forges a deep connection with her audiences just like her role models Maxim Vengerov, David Oistrakh and Kim Bomsori. "And I want to be a good person, just as my teacher taught me. Building on that, I hope to become a violinist who can have a positive impact on others," the precocious 13-year-old said. This article is the seventh in the "Rising Virtuosos" series introducing Korea's next generation of talented and accomplished classical musicians. The series will give readers an intimate look at the exceptional artistry and passion of young musicians who are making their mark on the international classical music scene. —Ed.

"Frying Pan Challenge" Garners Highest Recognition at Asia's Most Celebrated Creative Festival ADFEST 2024

PR Lotus Wins: Grande, Gold, Bronze TOKYO, March 28, 2024 /PRNewswire/ -- Tokyo- and Singapore-based PR planning and strategy firm HONDA OFFICE is pleased to announce that the "Frying Pan Challenge" campaign for Ajinomoto Frozen Foods has won three awards in the PR category, the top excellence award Grande Lotus, Gold, and Bronze, at ADFEST 2024 that was held March 21-23. We aimed to realize the excitement of successfully frying gyoza for as many people as possible by analyzing the frying pans the users had sent us. On January 9, 2024, we announced the release of updated non-stick gyoza as the result of our efforts. (Project website: https://www.ffa.ajinomoto.com/enjoy/frypan） ADFEST, also known as the Asia Pacific Advertising Festival, is one of the leading creative awards in the Asia Pacific region, founded in 1998. This year, 1,587 entries were submitted in 21 categories, and 63 judges from 23 cities were divided into 7 groups to evaluate the submissions. (Official website: http://www.adfest.com/) Comment from Wendy Chan, Jury President of PR, Entertainment, and Media This work exemplifies great PR work - turning crisis into opportunity through impactful and practical action. Result in creating trust in brand and the product. This Grand Prix was a non-sticky decision for us! Comments from the "Frying Pan Challenge" Team Keita Katsumura, Section Manager, PR Group, Strategic Communication Dept., Ajinomoto Frozen Foods Co., Inc. We would like to express our sincere appreciation for this prestigious award. Our gyoza was launched in 1972, and for more than 50 years we have been making "continuous improvements" to our products. We always take pride in our commitment to listening to our customers and improving what we make. Thanks to HONDA OFFICE, our steady efforts and sincere beliefs were brought to the forefront. This project is still ongoing, and we will keep working toward its further evolution. We will continue to deliver excitement and smiles to our users through even better products. Tetsuya Honda, CEO / PR Strategist, HONDA OFFICE We have been offering PR consultations to Ajinomoto Frozen Foods since 2020. We are very pleased and honored that this project with Ajinomoto Frozen Foods, following the #CuttingCornersControversy, has not only made headlines in Japan but has earned praise internationally. We are grateful to everyone involved in this project and Ajinomoto Frozen Foods for their courage in taking this communication approach. Also, we extend our utmost respect to Ajinomoto Frozen Foods for their efforts in promptly realizing the product update. Award Results Project Name: Frying Pan Challenge Case Film: https://www.youtube.com/watch?v=_IiZhOZHsCU&t=5s PR Lotus (PR Category): Grande, Gold, Bronze Out of a total of 77 entries, one Grand Prix, four Gold, four Silver, and seven Bronze were awarded. 18 sub-categories exist in the PR category, and the "Frying Pan Challenge" earned three awards: Grande in the Brand Voice & Strategic Storytelling category, Gold in the Real-time Response category, and Bronze in the Use of Social category. The PR Lotus recognizes strategies and creative execution that develop, maintain, and enhance a brand's reputation and business. This category evaluates multi-channel online and offline experiences that attractively amplify a brand's message, products, and services, based on how strategy, insight, and creative ideas have positively impacted brand perception, whether business, social, or cultural. STAFF CREDITS Executive Creative Director+PR Strategist: Tetsuya Honda (HONDA OFFICE) Creative Director: Norikuni Takamiya (I&CO Tokyo) Photographer: Yasuyuki Kanazawa (Demon Pictures co., ltd.) Creative Director (Website/3D Scanning): Tatsuya Abe (PYRAMID FILM QUADRA INC.) Producer (Website/3D Scanning): Reiko Morotomi (PYRAMID FILM QUADRA INC.) Chief Project Manager (Website/3D Scanning): Ryuki Shimizu (PYRAMID FILM QUADRA INC.) Project Manager (Website/3D Scanning): Emiko Nakamura (PYRAMID FILM QUADRA INC.) Art Director+Designer: Asuka Matsuoka (.ma) Technical Director: Mitsuru Watanabe (i2f) Frontend Engineer: Hikaru Ando (i2f) Account Director: Yuya Hirai (HONDA OFFICE) PR Director: Ayako Koganemaru (I&CO Tokyo) Executive PR: Mizuki Kanno (Material Inc.), Hinano Hayasaka (Material Inc.), Syunta Tada (Material Inc.) Assistant: Mutsumi Kobukai (HONDA OFFICE) INQUIRIES HONDA OFFICE Email: info@hondaoffice.co.jp

S. Korea maintaining stable LNG supply amid Israel-Hamas conflict

South Korea maintains a steady supply of liquefied natural gas and is actively preparing for potential contingencies amid Middle East geopolitical uncertainties, the industry ministry said Tuesday. "There have been concerns over the supply of gas following the Israel-Hamas incident amid the lingering war between Russia and Ukraine, but the supply currently remains stable," Director-General for Resource Policy Ryu Peob-min said during a meeting with industry officials. "However, in the event of a further escalation of the Israel-Hamas situation, we cannot rule out its potential impact on the domestic supply. We are committed to remaining vigilant and thoroughly preparing for an emergency," he added. During the meeting, the state-run Korea Gas Corp. noted that the country is maintaining LNG reserves at maximum capacity, with the supply anticipated to remain stable through the end of March. The government plans to hold regular meetings with KOGAS and other LNG importers to maintain a stable supply of the resource, the ministry added. (Yonhap)

Verkada continues investment in APJ region, appoints Francois Vazille as Head of Sales for Asia Pacific and Japan

SAN MATEO, Calif., July 12, 2023 /PRNewswire/ -- Verkada, a leader in enterprise building security and management, announced Francois Vazille has joined the company as Vice President for Asia Pacific and Japan markets. The Silicon Valley-based company's six product lines -- video security cameras, access control, environmental sensors, alarms, workplace and intercoms -- provide unparalleled building security through an integrated, secure cloud-based software platform. Verkada supports more than 17,000 organizations across 70 countries and is valued at $3.2 billion. Vazille, who brings two decades of leadership experience at high-growth technology companies, is tasked with growing Verkada's footprint in Asia Pacific. Vazille was most recently at Amazon Web Services (AWS), where he served as Director of Sales for Asia Pacific and Japan and led the strategic deal team. Prior to Amazon, Vazille was Vice President Asia Pacific and Japan at Oracle. "Francois brings a wealth of practical knowledge and expertise from the APJ regions, which are a great fit for Verkada's upcoming expansion," explained Ryan Bettencourt, Senior Vice President of Sales. "More importantly, he shares our vision of building an operating system for enterprise buildings that prioritizes the safety of people and their surroundings." Vazille's appointment reinforces Verkada's commitment to the APJ region. In the past year, the company – which counts Brighton Grammar School (Melbourne), Allstone Quarries (Victoria) and Australian retailer, Kogan among its customers – has continued to rapidly expand its footprint in the region, growing the team 286 percent as it has opened new offices in South Korea and Japan. "Verkada's platform is aimed at enhancing safety within our living and working communities," said Vazille. "As I've been getting to know our customers, I've witnessed first-hand Verkada's ability to empower users to make their physical spaces safer and smarter. I'm delighted to get started and grow Verkada's footprint here in the Asia Pacific and Japan region." Learn more about Verkada's solutions at www.verkada.com. About Verkada Verkada is leading the cloud-managed enterprise building security industry by enabling over 17,000 organizations in over 70 countries to protect their people and property in a way that respects individuals' privacy. Designed with simplicity in mind, Verkada's six product lines - video security cameras, access control, environmental sensors, alarms, workplace and intercoms - provide unparalleled visibility through a single cloud-based software platform. For more information, please visit www.verkada.com.

FULL TEXT: Justin Trudeau’s address to the National Assembly

The following is the text version of the address given by Justin Trudeau to South Korea’s National Assembly on Wednesday, transcribed and copyedited by The Korea Herald. -- Ed. Hello everyone. Annyeonghaseyo (“Hello” in Korean). Gamsahabnida (“Thank you”). I want to begin by thanking the speaker of the National Assembly, Kim Jin-pyo, and the secretary general of the National Assembly, Lee Kwang-jae, for their warm welcome. All esteemed members, it is an honor for me to speak here today at the National Assembly -- the seat of Korean democracy. The Republic of Korea is a beacon of democracy. Your democracy is resilient, it is hard won, with the blood and sacrifice of Koreans. As I stand here with you today, I recognize the importance of this week and its significance. Tomorrow is the anniversary of the Gwangju democratization movement, when 43 years ago, demonstrators, students, workers and citizens gave voice to a deep-seated desire for democracy. It was a long fight but ultimately freedom prevailed. And now, the ROK is one of the most successful and vibrant democracies in the world, and each and every one of you in this chamber plays a key role within it. Thank you. Throughout our history, the ROK and Canada have together faced difficult moments. Between 1950 and 1953, close to 27,000 Canadian soldiers arrived on the Korean Peninsula. They fought in the hills above the Gapyeong valley, they fought on the frontlines around Hill 355. Some of our soldiers were laid to rest at the United Nations memorial cemetery in Busan alongside soldiers from the ROK, and from around the world. And since the war, the friendship between our two countries has only grown stronger. We have deep trade ties, with eight years of free trade between our economies through the Canada-Korea free trade agreement. We also share dynamic ties between our people -- ties that are meaningful for me personally. You see, when my father was prime minister, it was he who opened the first Canadian embassy in Seoul in 1973. It is a fact that the son of the Korean ambassador to Canada on that day is now my senior policy advisor and here with us today. And if you are surprised by this story, you shouldn’t be, that’s the kind of thing that happens in Canada all the time. Every day, Canadians of Korean origin are enriching and shaping and building a stronger Canada. We have the world’s fourth-largest Korean diaspora. We welcome thousands of Korean students to our universities every year. Our scientists, innovators, academics are collaborating to find solutions to common challenges. Our artistic communities are thriving together as well. Canada has embraced the Korean Wave and for many Canadian artists, Korea has become a necessary destination. "Kim’s Convenience," the story of a Korean Canadian family, is one of the most beloved TV series in Canada. The economic, social and cultural histories of our two great nations are interwoven and so are our futures. This is why President Yoon and I agreed to upgrade our relationship to a comprehensive strategic partnership with shared priorities based on common values and interests. I may be here today to celebrate the 60 years of diplomatic relations between our countries. But the truth is, Koreans and Canadians have been friends for much longer than that. I mentioned the war, but I also think of Dr. Frank Schofield, who joined the Korean resistance during the painful decades of colonialism. I visited his grave this morning. I’m deeply grateful that you consider him to be one of the Korean patriots. Dr. Schofield’s legacy embodies the depth and the strength of our friendship. I’m proud to be the latest Canadian to celebrate this friendship, but I’m here to tell you it’s no longer enough to be friends. We need to be the best of friends. You see right now, our world is facing a moment of uncertainty like we’ve never seen in our lifetimes. We’re still reeling from the consequences of an unprecedented global pandemic. Rising costs of living are putting real stress on families. Despite job growth and wage growth, there is a lot of economic anxiety for families. Climate change is having a real and terrifying impact on people’s lives. War has returned to Europe with effects on global supply chain and energy markets. Antagonistic states around the world are using our economic interdependence for their own geopolitical advantage. Authoritarianism is gaining ground. You are frontline witnesses to regular military provocations by North Korea that cause instability on the peninsula, in the north Pacific region, and around the world. It has never been more clear that everything is interwoven -- that climate policy is economic policy, security policy and social policy. Our citizens need us to think strategically and act with urgency. And in this consequential moment, we must find solutions together as the best of friends. We must find solutions to grow our economies while protecting the environment. I want to recognize the leadership you have taken as a member of the High Ambition Coalition for Nature and People. Korean leadership helped us reach a historic agreement to protect biodiversity at COP 15 last December in my hometown of Montreal. You also launched an ambitious national policy ban on disposable items, and in Canada we banned harmful plastics too. As coastal countries, we don’t want to see garbage washing up on our beaches or in our waters. Canada and Korea are neighbors across the Pacific. Our trade corridor should be a green corridor. Together, we can make our economies cleaner, and create good jobs for our people. We’ve done it in the past already. Canada and Korea have been working together on nuclear energy ever since the first CANDU reactor started operations at Wolseong nuclear plant in 1983. Korea is a leader in nuclear energy and we are going to keep collaborating on this zero-emissions energy source. .... And while we do, we can keep coming up with a whole range of solutions that a net-zero world will need. And this isn’t just aspirational thinking. Workers in Canada across our electric vehicle supply chain are at work right now, at mine sites, in assembly lines and in R&D labs. In just the past year, major international companies have announced generational investments in Canada. Some are upgrading and retooling their assembly plants so that they can manufacture electric vehicles. Others are going to produce batteries. Batteries represent between 30 and 40 percent of the production cost of electric vehicles. You know this well because Korea is already a leader in battery manufacturing. You also know that with global demand for electric vehicles shooting up, year after year, this is where the market is going. In Canada, our government saw what was coming with climate change and the trillions of dollars of global investment that we’re lining up to build a clean economy. We led the way, by putting a price on pollution while giving more money back to families. We invested massively in decarbonization projects, like one for example that is ensuring Canada will make some of the cleanest steel in the world. And we’re continuing to invest to make sure we secure good jobs for Canadians for generations to come. Just back in January, I visited a plant that’s getting retooled to build electric vehicles and hybrid cars. I met a worker named Carl, one of the youngest team leaders there. He runs a door manufacturing line for hybrids. Like so many others, Carl worries about the future and whether his job or whether his plant will be there for him in a rapidly shifting world. He now knows because of our government’s investments he will be able to continue developing his career in his community into the future. See, I bring up Carl because I know there are Carls around the world. There are workers just like him here in Korea in good jobs on assembly lines who worry that global factors beyond their control -- some troublingly close, some on the other side of the world -- will lead to economic shifts that could shift them right out of that good job that supports their family. Everywhere the future is filled with uncertainty and anxiety for our citizens. But when we strengthen our supply chains, when we partner with like-minded allies, when we invest strategically in the economy of tomorrow, our workers, our citizens will all benefit. To fight climate change, Canada is also working with partners to accelerate the global transition from coal to clean energy. Together with the UK, we’ve launched the Powering Past Coal Alliance, a coalition of governments, businesses and organizations committed to accelerating clean growth and environmental protection. Eight of your provincial and local governments representing 80 percent of the country’s coal capacity have joined the alliance. Not only does Canada welcome the decision by the Korean government to end external financing for coal-fired power plants abroad and to reach carbon neutrality by 2050, our work together can support it. I think about LNG Canada in British Columbia with KOGAS as a joint-venture participant, that will help replace not only Russian natural gas but also coal use. I think about Canada’s Northland Power which is developing Korean offshore wind projects with over 3 gigawatt capacity, which is a lot of clean, sustainable power. This is how we can build a sustainable future together. Canada is ready to strengthen our partnership with Korea on everything from critical minerals to high-tech innovation to clean energy solutions. This will be at the core of our discussions later today when I spend a few hours with President Yoon. But as we build clean economies, we have to make sure that everyone benefits. In Canada we have great resources, we have ambitious, educated workers and our immigration policies are attracting highly skilled talent. We have the democratic values that make us reliable especially for partners like Korea which share the same values and principles. And most of all, we treat people with the respect and the dignity they deserve. For example as we develop the clean economy that I was talking about, we are partnering with the Indigenous peoples of Canada. We’re making sure our middle class will get good strong jobs right across the country. We're supporting small businesses. Koreans know small businesses are at the heart of our communities. This is why last year you passed two supplemental budgets to help small businesses hit by the pandemic including the largest-ever extra budget. You know how much small businesses matter. That‘s why we‘re stepping up together. We‘re investing in education, in skills. We know from the Korean example how sustainable success must be founded on education. Through visionary training programs, you‘re nurturing digital talent for future labor markets in key areas such as AI, big data, cybersecurity. In Canada we're investing in these fields too. When President Yoon visited the University of Toronto last September, he recognized Canada as a center of the global AI supply chain. Our long-term prosperity depends on inclusive public policies which allow everyone to play an active and meaningful role in society. That’s why our government is investing in health care, in dental care and in child care. We are already seeing the results. By rolling out a 10-dollar-a-day child care program, we’ve seen women’s participation in the economy reach an all-time high. I know that Korea is also working on a plan to expand child care options. Because it’s so important to support parents in balancing their career and family commitments. Because inclusion, gender equality and support for families make our societies stronger and make our democracies healthier. Of course if we want to build a more prosperous future for our peoples, we have to continue defending peace, human rights and the rules-based international order. Stability in the north Pacific is essential to global stability. This is one of the reasons why we released our Indo-Pacific Strategy last fall, in which Canada committed to increase not just our trade but also our military engagement as a means of mitigating threats to regional security. In March, we announced that we’d extend Operation NEON until 2026. As some of you may know, Operation NEON is Canada’s contribution to support the implementation of the UN Security Council sanctions imposed against North Korea. Canada is committed to supporting the Republic of Korea’s efforts towards a denuclearized, peaceful and prosperous Korean Peninsula. We will continue to call on North Korea to return to dialogue and diplomacy. We’re also supportive of the work of the UN Office of the High Commissioner for Human Rights, and we are committed to increasing our cooperation with the Republic of Korea to help advancing the human rights situation in North Korea. Canada and Korea must continue to lead both on the world stage and at home. And to lead is to choose, just like Koreans chose to fight for democracy during the Gwangju democratization movement 43 years ago. Gwangju serves as a reminder that democracy in Korea didn’t happen by accident. Democracy never happens by accident. It certainly doesn’t continue without effort. At its best, democracy will always be stronger than authoritarianism. But to be at our best requires constant work. Nativism, cynicism, polarization, misinformation, disinformation, declining voter turnout -- these are all challenges we are facing in our countries one way or another. So as leaders, we need to choose to rebuild trust. When people no longer trust in the idea of progress, the idea that the next generation will do even better than this one -- that’s when they begin to lose faith in our institutions. The best way to rebuild is to trust. It’s to always put people first. To put people’s dignity, their rights, their environment, their future at the center of everything we do as policy makers and as champions of democracy. That’s how we deliver on the promise of progress for everyone. And that’s how we will meet this consequential moment together. Earlier, I mentioned the 60th anniversary of diplomatic ties between our two countries. In Korean culture, the age of 60 signifies the completion of one cycle and the beginning of another one. In the spirit of “hwangab” (one’s “sixtieth birthday” in Korean), let us renew our shared commitment and start a new cycle of peace, prosperity and sustainability as the very best of friends. Gamsahabnida. Thank you very much.

Electricity bills to rise by 5.3% as Kepco battles mounting losses

Four-person households to pay over W7,000 more per month for electricity, gas Electricity rates and gas prices in South Korea will increase by 5.3 percent from Tuesday, to ease the financial burden of cash-strapped state-run energy companies. The electricity rate will go up by 8 won ($0.006) per kilowatt-hour and the gas rate by 1.04 won per megajoule, the government announced Monday. The hiked rates take effect from Tuesday, but will not be applied retroactively. This means that a four-person household that uses an average amount of electricity and gas will have to pay around 3,000 won and 4,400 won more per month, respectively. The decision to finalize the second-quarter utility rates had been due to come in March, but was postponed for more than a month on concern of rising prices amid the economic slowdown. “Though we have continuously adjusted the prices of electricity and gas from last year to earlier this year, the cause of increase has not been fully resolved," Minister of Trade, Industry and Energy Lee Chang-yang said Monday at a briefing held for the announcement of the price hikes. "It is difficult to overcome the crisis with solely the efforts of Korea Electric Power Corp. and Korea Gas Corp.," Lee said, referring to the state-run companies. "This is to normalize their operation and secure the sustainability of energy supply." Lee emphasized that both companies are suffering from hikes in global energy prices. Kepco's cumulative deficit from 2021 mounts to 38.5 trillion won. Kogas had about 11.6 trillion won in uncollected payments as of end-March, referring to the amount of natural gas imports that were not covered by gas bills. Both Kepco and Kogas have been pressured to maintain the current rates despite the surge in supply prices after the Russia-Ukraine war. Prior to the decision, the two companies announced reform measures to overcome the swelling deficit, while Kepco CEO Cheong Seung-il offered his resignation to take responsibility. With the increase in power bills, the government said it would roll out support measures to protect economically vulnerable households. It will hold off the increase for basic stability recipients and those in the second-lowest income bracket for more than a year on the condition that their usage remains under the average utility amount. Additionally, it will expand its energy voucher scheme, increasing the total amount by 7.5 percent, as well as the range of recipients. The hike in utility prices is expected to affect inflation. Korea’s consumer price index has been showing signs of recovery in recent months, increasing by 3.7 percent on year in April. It was the first time in 14 months for the figure to fall into the 3 percent range. With the hike in utility charges, however, the inflation rate could rebound, further shifting away from the Bank of Korea’s target 2 percent rate. Some are calling for further measures to prepare for a potential energy crisis. The Korea Chamber of Commerce and Industry said the price hikes were “unavoidable” considering the respective financial states of Kepco and Kogas. "Efficient energy use and a cut down in consumption are important, considering the carbon neutrality (agenda), and the instability of energy supply and demand. Control on energy demand and more investments in energy-related facilities are needed along with the price adjustments,” the KCCI said in a press release Monday.