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https://www.nationthailand.com/world/asia-pacific/40022649

South Korean exports see decline accelerate in November

THURSDAY, DECEMBER 01, 2022

South Korea’s exports fell for the second consecutive month on-year in November with the decline accelerating from the previous month due to the global economic slowdown and logistics disruptions over a truckers’ strike, the Ministry of Trade, Industry and Energy said on Thursday.

The country also suffered a trade deficit for the eighth straight month due to high global energy prices.

Outbound shipments fell 14% on-year to US$51.91 billion last month, following a 5.7% on-year fall the previous month, according to the data compiled by the Ministry of Trade, Industry and Energy.

It is the first time since early 2020 that exports fell for the second month in a row.

The country’s imports grew 2.7% on-year to $58.93 billion in November on high global energy prices, resulting in a trade deficit of $7.01 billion.

Imports have exceeded exports in South Korea since April, and it is the first time since 1997 that the country has suffered a trade deficit for the eighth straight month.

South Korea depends on imports for most of its energy needs, and the country’s energy imports surged 27.1% on-year to $15.51 billion in November, the ministry said.

The fall in exports was blamed on the global economic slowdown amid high inflation and aggressive monetary tightening by major economies, as well as the impact of the ongoing truckers’ strike that began November 24 over minimum freight rates, according to the ministry.

The nationwide walkout has caused supply disruptions in major industries, and it is feared to affect the broader economy by hurting overseas shipments, according to officials. The government ordered truckers to return to work, while their negotiations have made no progress.

A high base effect was also behind the exports fall last month, as exports spiked 31.9% on-year in November last year, the ministry said.

For the first 11 months of this year, however, exports grew 7.8 % to come to an all-time high of $629.1 billion, the ministry said.

By item, overseas sales of semiconductors, a key export item, tumbled 29.8% on-year to $8.45 billion in November on falling demand and the drop in chip prices, the data showed.

Chip exports have seen an on-year decline since August.

Sales of petrochemicals also fell 26.5% to $3.55 billion, and exports of steel products decreased 10.6% to $2.99 billion last month. Exports of ships sank 68.2% to $1.12 billion.

But car exports jumped 31% to $5.4 billion, an all-time monthly high, and sales of petroleum products advanced 26% to $4.88 billion.

Shipments of auto parts inched up 0.9% to $1.86 billion, and those of secondary batteries rose 0.5% to $740 million last month, the data showed.

By nation, exports to China, South Korea’s top trading partner, fell 25.5% to $11.38 billion last month on the economic slowdown in China.

Shipments to the Association of Southeast Asian Nations also slid 13.9% to $9.08 billion.

South Korea’s exports to the United States rose 8% to $8.79 billion, and those to the European Union added 0.1% to $5.3 billion, the data showed.

Exports bound for the Commonwealth of Independent States grew 4.6% to $1.29 billion in November due to low base effects, the ministry said.

“Given our high dependence on the global economic situation, it is necessary to revive export momentum to seek a breakthrough,” Industry Minister Lee Chang-yang said.

“The government will thoroughly carry out tailor-made export promotion strategies, such as diversifying items and better supporting local exporters.”

The Korea Herald

Asia News Network

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Anwar delays Malaysia Cabinet picks as he tackles political dilemmas, lobbying

THURSDAY, DECEMBER 01, 2022

Prime Minister Anwar Ibrahim is likely to delay the unveiling of Malaysia’s new Cabinet to next week, as he tries to square conflicting demands both within and outside his unity government.

The Straits Times has learnt that a swearing-in ceremony is not on the king’s schedule, with reports saying he is set to go on an overseas trip on Saturday.

Pakatan Harapan (PH) chief Anwar’s audience with Sultan Abdullah Ahmad Shah on Tuesday triggered speculation that a Cabinet would be installed on Wednesday.

That did not happen, but there was increased expectation that ministers – drawn not just from the two-thirds supermajority that the premier enjoys, but also non-politicians – would be appointed by Friday.

However, several sources told The Straits Times that Anwar did not submit a list of candidates to the King during the audience on Tuesday.

Up until Wednesday afternoon, Anwar was meeting political leaders who have pledged support for his government after the November 19 general election which resulted in Malaysia’s first hung parliament.

Anwar’s press secretary said on Wednesday that the prime minister was scheduled to be in his office all of Thursday, with no information available on the announcement of a Cabinet.

“The situation is now fluid because so many different factions are lobbying,” said an official from Anwar’s Parti Keadilan Rakyat (PKR).

Sources said the king had wanted to swear in the new Cabinet before flying out on Saturday, but Anwar had sought more time.

The likely window is now for later next week before the king goes abroad again, this time for the closing stages of the football World Cup in Qatar. The Gulf nation has strong ties with Malaysia.

This would mean Anwar would have governed alone for a fortnight, as he wrestles with several conundrums – not least the demand for Umno president Zahid Hamidi to be made his deputy despite facing dozens of graft charges.

PH has long campaigned on a platform of integrity and cleaning up a government many believe is riddled with corruption.

Handing Zahid a senior role in government would court controversy not just among the wider public and supporters still sceptical of partnering with the Umno-led Barisan Nasional (BN), but also within Anwar’s party.

Several PKR MPs, including vice-president Nik Nazmi Ahmad, have expressed the need for the Cabinet to be “whiter than white”.

But it is a gamble that would go a long way towards ensuring BN’s crucial backing for the premier for the rest of the term.

Umno will have to hold leadership polls by May, and the deputy premiership would help Zahid – who has faced intense backlash internally over his years-long push towards allying with PH – see off any challengers.

However, it is learnt that Gabungan Parti Sarawak (GPS), another important partner in the unity government which is likely to secure another deputy prime minister position, would prefer Umno No. 2 Mohamad Hasan to be installed instead of Zahid.

GPS secretary-general Alexander Nanta Linggi said while it was the prime minister’s prerogative to choose his Cabinet, having a “clean” line-up would be preferred.

A leadership change in Umno could see its support for Anwar wavering, with the opposition coalition Perikatan Nasional waiting in the wings to capitalise on any cracks in the government.

Even though the unity government will still hold a simple majority in the 222-strong parliament without BN’s 30 MPs, it would be an administration backed by less than one in five voters from the Malay Muslim majority.

There has also been lobbying from the private sector to be part of what Anwar has insisted will be a slimmed-down Cabinet from the 32 ministers and 38 deputies in the past 30 months, giving him even less room to appease those who have helped him win a 24-year battle to take the top job in the country.

Bloomberg floated the names of top corporate captains, former CIMB chief Nazir Razak as well as sovereign wealth fund Khazanah’s former boss Azman Mokhtar, to head the Treasury.

But it is likely that Anwar will maximise the political capital of the coveted position of finance minister to reward close allies or win over sceptical factions, or even appoint himself to entrench his hold on an administration made up of disparate ideologies.

The Straits Times

Asia News Network

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https://www.nationthailand.com/world/europe/40022639

Ukraine under spotlight as Thailand attends European security summit

THURSDAY, DECEMBER 01, 2022

The crisis in Ukraine will be under the spotlight today as Thailand joins the 29th ministerial meeting of the Organisation for Security and Cooperation in Europe (OSCE) – the world’s largest regional security organisation.

Leading the Thai Foreign Ministry delegation in Lodz, Poland is special envoy Pornpimol Kanchanalak.

The ministry said it would use the meeting to share Thailand’s perspective on key situations of conflict and challenges facing the world and reiterate the importance of humanitarian assistance for all.

Thailand has maintained a neutral stance on the war between Russia and Ukraine in the face of sanctions imposed on Moscow by many of the 56 other OSCE members.

Russia’s invasion of Ukraine and resulting sanctions have triggered a global fuel and food inflation crisis.

Thailand would reaffirm its unwavering support for peaceful resolution through inclusive and constructive dialogue, said the Foreign Ministry ahead of the two-day meeting in Poland.

The OSCE Ministerial Council will gather today and tomorrow for its annual summit attended by 57 participating states and partners to review and identify areas of cooperation under the OSCE framework.

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For Hanoi grannies, it’s “never too old to learn English”

THURSDAY, DECEMBER 01, 2022

Every Tuesday, 79-year-old Nguyen Thi Loc joins a group of grey-haired students to study English at a house in Hanoi, with the aim of socialising and keeping her brain sharp.

The informal classes are free and are taught by Phung Thi Yen, who trained as an English teacher but currently works as an office worker.

It comes as a growing number of scientific studies show the benefits of learning a language to maintain and enhance cognitive abilities, including for senior citizens.

Loc has never studied a foreign language before, but with her newly acquired skills she chants in chorus with her classmates: “Never too old to learn English”.

They read out loud, repeat after the teacher, and sing songs to try to perfect their pronunciation – one of the hardest parts of their work.

“The tongue twisters, words with muted letters, words that we have to curl our lips to pronounce: these things are very difficult for us”, Loc says.

Yen, 30, set up the classes four years ago with the aim of giving the elderly a place where they could meet, socialise and learn something new. The elderly in Vietnam typically live alone or with their children rather than in retirement homes.

With her employer’s support, Yen takes time off her day job to teach Loc’s class and several others. She and her group of volunteers are currently teaching 200 elderly students.

Yen says her students are working hard to learn the language. English is Vietnam’s most commonly taught foreign language after having become a mandatory subject at school in the 1990s.

“These grannies have been trying hard and made a lot of effort to get to where they are now. At the very least, they have built for themselves a sizeable vocabulary that they can utilise in their daily lives,” Yen says.

Loc says there have been moments of discouragement over the four years she has been taking the class, but it makes her happy to be able to understand her grandchildren when they practice speaking in English while doing their homework.

“Even though we are old, we should still try to study, because studying helps the brain,” she said, adding that thanks to this effort “we won’t be as forgetful or lose our way”.

Reuters

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https://www.nationthailand.com/world/asia-pacific/40022627

Korean Air offers lie-flat seats for smaller A321neo planes

THURSDAY, DECEMBER 01, 2022

Korean Air, South Korea’s largest air carrier, will begin offering lie-flat seats in smaller aircraft, its recently received Airbus 321neo, in December, the company said Wednesday.

With the introduction of the A321neo, Korean Air will become the country’s first air carrier to have lie-flat seats in a narrow-body aircraft.

The A321neo, a single-aisle airplane with 182 seats, will operate on short-haul routes to China, Japan and Southeast Asia, according to Korean Air. Short-haul routes are those that typically last somewhere from 30 minutes to three hours.

“We are delighted to receive our first A321neo, which will be a great asset to our fleet, network and passengers,” said Lee Soo-keun, executive vice president and chief safety and operation officer of Korean Air. “This fuel-efficient, next-generation A321neo will bring our customers’ experience to a new level with the award-winning Airspace cabin and fully lie-flat business class seats.”

Of the 182 seats on A321neo, eight in the Prestige class have the 180-degree flat-bed function. The business class seats are equipped with a 44-centimetre personal monitor for on-demand services and a wireless smartphone charger, according to the company.

The seats in the economy class will offer 33-cm personal monitors, which are about 10 cm bigger than the existing models on Korean Air’s narrow-body aircraft. The overhead bins are 40 % larger than other aircraft in the same class, providing more space for passengers’ carry-on baggage. An adjustable headrest and individual coat hook are also installed for each seat.

Inflight internet will be available for purchase from the first half of next year, according to Korean Air.

“By adding the A321neo to its fleet, Korean Air will benefit from enhanced operational efficiency and the highest levels of in-flight comfort,” said Christian Scherer, Airbus chief commercial officer and head of Airbus International. “With the A321neo’s per-seat fuel improvements of at least 25 % compared with Korean Air’s previous generation same-sized fleet, the airline will reduce its operating costs significantly, as well as emissions at the same time.”

Korean Air said the introduction of the new Airbus aircraft is part of the airline’s fleet modernization plans. The company plans to receive a total of 30 A321neo aircraft by 2027.

The Korea Herald

Asia News Network

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Ukraine embassy, Spanish arms company receive letter bombs

THURSDAY, DECEMBER 01, 2022

Police in Spain are examining a possible link between two letter bombs sent to the Ukrainian ambassador in Madrid and another to an arms company that manufactures rocket launches donated to Kyiv, they confirmed in a statement on Wednesday.

In the first incident, an officer at Ukraine’s embassy in Madrid was injured when he opened a letter bomb addressed to the ambassador, prompting Kyiv to order greater security at all its representative offices abroad.

The letter, which arrived by regular mail and was not scanned, caused “a very small wound” on one finger when the officer opened it in the embassy garden, Mercedes Gonzalez, a Spanish government official, told broadcaster Telemadrid.

Hours later, an arms company in Zaragoza, northeastern Spain, received a similar package, police confirmed.

The government representative in Zaragoza, Rosa Serrano, said in an interview with the SER station that the two envelopes appeared to have the same sender since the same e-mail address was written on the back of both of them. Serrano said the packages came from Ukraine and this is what alarmed the arms company, which called the police.

The arms company is Instalaza, the manufacturer of the C90 rocket launcher that Spain donates to Ukraine.

After the first incident, Ukrainian Foreign Minister Dmytro Kuleba ordered all of Kyiv’s embassies abroad to “urgently” strengthen security and urged Spain to take investigate the attack, a ministry spokesperson said.

The Ukrainian government did not immediately respond to a request for comment about the second incident.

Ukraine’s ambassador to Madrid, Serhii Pohoreltsev, told TVE later that he was working as usual at the embassy “with no fear”.

“We have instructions from the ministry in Ukraine that given the situation we have to be prepared for any kind of incident… any kind of Russian activities outside the country,” he said.

Russia invaded Ukraine nine months ago in what it calls a “special military operation” that Kyiv and the West describe as an unprovoked, imperialist land grab.

The ambassador declined to give details of how the letter had been handled but said the injured worker had followed protocol and that the embassy would look into improving the system.

Spain’s High Court has opened a probe into the attack as a possible case of terrorism, a judicial source said.

Police carried out a contained explosion in the factory and the incident reported no damage, according to the same media.

The envelope that was sent to Zaragoza was 10 x 15 cm and an X-ray showed the explosive charge with a wireline ready to be activated when the envelope was opened, Serrano said.

Correos, the Spanish state-run postal company, told Reuters it is cooperating with the investigation.

The residential area surrounding the embassy in northwestern Madrid was cordoned off and a bomb disposal unit was deployed to the scene, as well as the area around the Zaragoza factory.

Reuters