Day: August 17, 2023

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FSC to continue improving capital market, financial stability

South Korea’s financial regulator said Thursday it will continue its efforts to improve investors’ credibility in the country’s capital market and promote financial stability.

The Financial Services Commission (FSC) said it will come up with a measure to improve the treasury stock management of listed companies to protect the interests of ordinary stockholders amid criticism the companies use the treasury stocks to the benefit of major shareholders.

Kim So-young, vice chairman of the FSC, said the FSC will announce measures to better respond to evolving stock-related crimes in the third quarter and sternly respond to market disturbances to restore investors’ trust.

The FSC will also continue its efforts to successfully implement market improvement measures meant to protect retail investors, including prior notice of insider trading, mandatory tender offers, and strengthening punishment against unfair trading practices, Kim said.

In June, the National Assembly passed a bill aimed at imposing a stronger fine on unfair trading, which is set to take effect next year.

Kim said financial authorities have also been working to provide foreign investors better access to and information about South Korea’s capital market, allowing foreign investors to buy the country’s stocks and bonds with prior registration starting December, and adopting an English disclosure system from next year.

KOSPI-listed companies with assets of 10 trillion won (US$7.5 billion) or more will be required to issue key regulatory filings in English from next year, and the mandate will be expanded to KOSPI-listed firms with assets of 2 trillion won or more from 2026.

Source: Yonhap News Agency

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SK E&S signs MOU with KOSPO for green hydrogen partnership

SK E&S Co., the natural gas power unit of South Korea’s SK Group, signed a preliminary agreement with a local utility company Thursday for a partnership on the production and utilization of green hydrogen.

Under the memorandum of understanding with the Korea Southern Power Co. (KOSPO), they will work together to produce green hydrogen and green ammonia based on renewable energy sourced from South Korea or overseas and use them as fuel for power plants operated by KOSPO, SK E&S said in a release.

SK Plug Hyverse, SK E&S’ hydrogen venture with U.S. Plug Power, will also join the partnership.

SK E&S and SK Plug Hyverse plan to provide electrolyzers to produce green hydrogen, a type of hydrogen considered to be the cleanest form, as it emits no carbon dioxide during the production process.

Green hydrogen is produced through electrolysis, a process by which electricity, created from wind or solar power, splits water to extract and produce hydrogen from the water.

KOSPO will purchase the green hydrogen and ammonia produced from the joint project and use them as secondary fuel at its existing natural gas and coal power stations.

Using a secondary fuel like hydrogen with conventional fuels like coal, also known as co-firing, is gaining traction as a way to achieve carbon neutrality in related industries as it can reduce greenhouse gas emissions.

SK E&S and KOSPO also plan to seek new opportunities for potential clean hydrogen projects in foreign markets with ample renewable energy resources, SK E&S said.

Source: Yonhap News Agency

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SK E&S signs MOU with KOSPO for green hydrogen partnership

SK E&S Co., the natural gas power unit of South Korea’s SK Group, signed a preliminary agreement with a local utility company Thursday for a partnership on the production and utilization of green hydrogen.

Under the memorandum of understanding with the Korea Southern Power Co. (KOSPO), they will work together to produce green hydrogen and green ammonia based on renewable energy sourced from South Korea or overseas and use them as fuel for power plants operated by KOSPO, SK E&S said in a release.

SK Plug Hyverse, SK E&S’ hydrogen venture with U.S. Plug Power, will also join the partnership.

SK E&S and SK Plug Hyverse plan to provide electrolyzers to produce green hydrogen, a type of hydrogen considered to be the cleanest form, as it emits no carbon dioxide during the production process.

Green hydrogen is produced through electrolysis, a process by which electricity, created from wind or solar power, splits water to extract and produce hydrogen from the water.

KOSPO will purchase the green hydrogen and ammonia produced from the joint project and use them as secondary fuel at its existing natural gas and coal power stations.

Using a secondary fuel like hydrogen with conventional fuels like coal, also known as co-firing, is gaining traction as a way to achieve carbon neutrality in related industries as it can reduce greenhouse gas emissions.

SK E&S and KOSPO also plan to seek new opportunities for potential clean hydrogen projects in foreign markets with ample renewable energy resources, SK E&S said.

Source: Yonhap News Agency

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RRT confirms joining the government with “Pheu Thai” as the leader

Collective Thais create a nation, 17 Aug. – RRT announces joint venture “Phuea Thai” to form a government Wo Party has competent personnel working in every ministry.

Mr. Akaradej Wongpitakroj, MP for Ratchaburi, as spokesman for the Ruam Thai Sang Chart Party (RTC), gave a press conference in case of news flows. Mr. Peeraphan Saliratwiphak Peeraphan, leader of the National Council for Peace and Order, Mr. Ekanat Promphan, party secretary to clarify that the negotiating committee of the Royal Thai Police Party had discussed with the negotiating committee of the Pheu Thai Party, with both parties having an official discussion. which in the past the party RRT has given an interview to the media that joining the government must have an official discussion. On the same day, the negotiating committees of both parties have officially discussed. By mutually agreeing that the RTC Party will join the government To drive the country and most importantly, to create reconciliation with the people as well. The Pheu Thai Party confirmed that in the establishment of this government there will be no political party that has a policy to amend Section 112.

Mr. Akradet continued that, therefore, today it will be clear that the RRT will join the government with the Pheu Thai Party. who is the mainstay in forming a government. RTS has negotiated the chair of the Minister of Energy. There was no ministry negotiations at all. Today, there is only an agreement in principle about joining the government with the Pheu Thai Party. Emphasize that negotiations with the Ministry of Energy or any ministry Today there is no talk

When asked if there was a ministerial quota mentioned or not, Mr. Akradej said there was still time to talk because on August 18 he would represent the party to talk to the 3 party whips for a meeting. Discuss the framework for the meeting to vote for the Prime Minister on August 22, so between now and August 22, there is still time to arrange to negotiate in detail. At this point, he was not in the aforementioned process, only responsible for announcing the results of the discussions of the negotiating committee. As for having to make a statement with the Pheu Thai Party again or not? Probably a mechanism of the Pheu Thai Party. And the leading party would have to make a statement themselves.

Asked further that the Pheu Thai Party said that the negotiations had not yet been resolved, Mr Akradet said that the details were still in the part of the negotiating committee, both the party leader and the party secretary, who would negotiate with the leading party in this section.

When asked again whether we had proposed to the Pheu Thai Party or not what ministry we wanted, Mr. Akaradej said that there had not been any talks. Even the number of ministerial chairs or the details of the ministry are not discussed. Talk only on the principle of joint government.

When asked if in the department of energy we have enough unity to be a minister or not, Mr. Akradej said that the RTC has personnel who are suitable to manage almost every ministry. because although it is a new political party But it is a political party that has personnel with political experience, both ministers and many MPs. It is considered that the negotiating team will discuss the suitability to go into administration there, therefore in detail. No discussions have yet been concluded. therefore cannot be notified yet.

Mr. Akradet said he confirmed that in terms of ministerial quotas. There is no capitalist problem because the Party is driven by the Party Executive Committee and its MPs. Therefore, the rumors that circulate today in many streams from morning until evening is an important reason that the party leader and party secretary has entrusted He, as a party spokesperson, came to explain to the media. Confirmed that he was ready to vote for the prime ministerial candidate from Pheu Thai. No matter who nominates

When asked whether he was worried or not, because Mr. Srettha Thavisin, a candidate for the Pheu Thai Party’s Prime Minister, was investigated by many, Mr. Akaradet said it was something that the Pheu Thai Party had to clarify. Thai society creates a nation, it will be within the framework to proceed. in order to complete the mission of establishing a government because people wait for the government to solve the country’s problems

When asked to repeat that Concerned that on August 22, there will be problems in voting for Mr. Settha or not, Mr. Akaradej said that it was the duty of the Pheu Thai Party to clarify. The RTC will perform its duties as best as possible. As for the details of the negotiations, he could not answer. Because he is not in the negotiation circle.-Thai News Agency

Source: Thai News Agency

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“Thawatchai-Supanich” Siew Thong Run 200 meters Kanchanaburi Games

Kanchanaburi, August 17-The 48th National Games “Kanchanaburi Games” Day 4 Competing for 71 gold medals in the 200-meter run, “Oat” Thawatchai and “Nan” Supanich won gold medals.

The 48th National Games “Kanchanaburi Games”, Day 4, with 71 gold medals, Athletics, Day 2 at the Kanchanaburi Provincial Stadium, men’s 200-meter run, final round “Oat” Thawatchai Heem-iad, Thai national team whirlwind The owner of the silver medal in the 4 × 100 SEA Games and the last World University Games, Thawatchai from Chaiyaphum, speeding up in the last 100 meters to the finish line, received the gold medal with a record of 21.18 seconds, the silver medal was Sarawut Nuansri from Chumphon, with a record of 21.34 seconds. Bronze medal Natthaphong Weerawongtonsiri from Bangkok, 21.63 seconds

Women’s 200-meter run “Nan” Supanich Poolkerd, Thai national female runner who won the gold medal in the 100-meter run from Bangkok, still maintains good form, running away from the first, finishing in a record of 24.12 seconds, getting the second gold medal. In the Kanchanaburi Games, the silver medal is Athicha Phetchakul, a junior joining the national team from Pathum Thani, with a record of 24.46 seconds, bronze medal Chiraphat Khanonta from Surin, with a record of 24.61 seconds.

In the swimming section at Kanchanaburi Rajabhat University, the women’s 100-meter butterfly final, “Mermaid Fah” Naphasawan Jaritkla, a Thai national swimmer from Suphanburi. who has already won 1 gold medal, touched the edge of the pool as number 1, setting a record of 1 minute 01.62 seconds, receiving the second gold medal in the Kanchanaburi Games The silver medal is Thitiphon Kerdsriphan from Nonthaburi, a record of 1 minute 03.37 seconds, bronze medal Natwara Bowonsukseri from Bangkok, a record of 1 minute 03.93 seconds.

Men’s 400 meter freestyle Tonnam Kantimun, a Thai young shark national team from Bangkok. In the 1st swimming channel, starting to lead after 100 meters, swimming touching the edge of the pool as the 1st lead with a record of 3 minutes 58.78 seconds, won the gold medal and was the 7th gold medal in this national sport. Thammananthachot from Bangkok, a record of 4 minutes 05.84 seconds and a bronze medal, Putthithada Prathumrat from Krabi, 4 minutes 07.08 seconds.

The tug of war at Wat Wangkanay Tayikaram School Final round, 4 male teams, total weight not exceeding 300 kg. The final round is a meeting of Chachoengsao. The bronze medal from the previous time met Suphan Buri, the old champion, and it appeared that the competition was fun. Each side tried to pull the rope to the fullest before Thanawit Chomyong, Wiwitthawin Hiranananphong, Worapat Chaimongkol and Phakaphon Hobanluekit from Chachoengsao. will help you the most Defeated Suphan Buri 2-0, won the championship and won the gold medal to win Suphanburi silver medals and Bangkok bronze medals.

The final tug of war, 4 women’s teams, total weight not exceeding 250 kilograms, appeared that the atmosphere was very lively. Because Kanchanaburi The host who had just formed a team shortly into the finals in a pink shirt Meet Chachoengsao, the former champion, it appears that in the first set, the athletes from the host rely on strength at the end to win first, leading 1-0, but Chachoengsao consists of Natcha Tuamsema Montini Sunlee Chayada Phromderm Ploypraew Wanatee, experienced, solved the game to overtake and win 2-1 sets, received gold medals, silver medals for Kanchanaburi, bronze medals for Nakhon Pathom

The star of the Kanchanaburi Games today meets “Jane” Pornlak Kraisorn, a kicker from Bangkok. Farewell to the National Games After winning the women’s 73 kg taekwondo gold medal, which is the national sports gold medal for 4 consecutive times as well

Finally, at the colorful Kanchanaburi Games. Magnificent atmosphere in the Grand Opening event The opening ceremony of the wrestling match “Kanchanaburi Games” at Sai Yok Noi Wittaya School that the host of the show came in full especially the Sri Chai Sing dance that spelled out the audience tightly In this event, Mr. Wisut Tangwarithorn, President of the Thai Wrestling Association traveled to work with Gen. Dr. Chinnawat Manadej, President of Kanchanaburi Provincial Sports Association

Summary of the medals Bangkok athletes took 1st place with 32 gold medals, while the host athletes Kanchanaburi followed in 2nd place with 22 gold medals, 3rd Nakhon Si Thammarat with 13 gold medals.–Thai News Agency

Source: Thai News Agency

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Farmers smile, good prices, even handing out queue cards to sell rice

Ang Thong, Aug. 17 – The aftermath of the high price of paddy these days. At Ang Thong, they had to hand out cue cards. to the farmers who come to sell rice

at the Central Rice Market Agricultural Cooperatives for Angthong Marketing San Chao Rong Thong Subdistrict Wiset Chai Chan District, Ang Thong Province. Farmers have been waiting to sell paddy rice since early morning. Until having to park and wait in line for a long time Officers must bring cue cards to distribute to farmers. After the price of paddy continued to rise since the past week. The price of Pathum Thani paddy with moisture content of 15%, the purchase price is 10,200-10,500 baht

Uncle Chamlong, 62, planted 80 rai of RD.63 rice and said that today he harvested 13 rai of matured rice before selling it at the central market early in the morning. with a price of 10,500 baht per ton, in total, more than a hundred thousand baht This year, the price of rice is good for farmers. Glad to be able to open my eyes and open my mouth Like many farmers who bring rice to sell, everyone smiles. He said he was happy that he could sell rice at a reasonable price. Encouragement to continue farming Proceeds from selling rice will use the debt and keep it for family expenses

For the price of paddy from the Department of Internal Trade It was found that the prices were high for all types of rice, such as jasmine rice paddy, year 2012/2023 in Ubon Ratchathani area, 14,700-15,500 baht per ton, Udon Thani, 15,000-16,600 baht, off-season rice paddy, year 2023, Nakhon Sawan, 11,800-12,800 baht, and glutinous rice paddy. 14,000-15,000 baht . – Thai News Agency

Source: Thai News Agency

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SK E&S signs MOU with KOSPO for green hydrogen partnership

SK E&S Co., the natural gas power unit of South Korea’s SK Group, signed a preliminary agreement with a local utility company Thursday for a partnership on the production and utilization of green hydrogen.

Under the memorandum of understanding with the Korea Southern Power Co. (KOSPO), they will work together to produce green hydrogen and green ammonia based on renewable energy sourced from South Korea or overseas and use them as fuel for power plants operated by KOSPO, SK E&S said in a release.

SK Plug Hyverse, SK E&S’ hydrogen venture with U.S. Plug Power, will also join the partnership.

SK E&S and SK Plug Hyverse plan to provide electrolyzers to produce green hydrogen, a type of hydrogen considered to be the cleanest form, as it emits no carbon dioxide during the production process.

Green hydrogen is produced through electrolysis, a process by which electricity, created from wind or solar power, splits water to extract and produce hydrogen from the water.

KOSPO will purchase the green hydrogen and ammonia produced from the joint project and use them as secondary fuel at its existing natural gas and coal power stations.

Using a secondary fuel like hydrogen with conventional fuels like coal, also known as co-firing, is gaining traction as a way to achieve carbon neutrality in related industries as it can reduce greenhouse gas emissions.

SK E&S and KOSPO also plan to seek new opportunities for potential clean hydrogen projects in foreign markets with ample renewable energy resources, SK E&S said.

Source: Yonhap News Agency

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S. Korea, Japan complete discussions on Fukushima plan

South Korea and Japan have concluded their discussions regarding Seoul’s concerns over Tokyo’s plan to release contaminated water from the crippled Fukushima nuclear power plant, a senior official said Thursday.

The third round of talks was conducted Wednesday via videoconference to deliberate on details of Seoul’s requests regarding the release plan, which is anticipated to commence later this month.

“We will provide a comprehensive explanation of the agreement’s results after conducting further reviews and arrangements by both sides,” said Park Ku-yeon, the first deputy chief of the Office for Government Policy Coordination, during a daily briefing on the Fukushima issue.

The two countries previously held two rounds of talks to discuss follow-up measures after President Yoon Suk Yeol asked Japanese Prime Minister Fumio Kishida to include South Korean experts in monitoring the Fukushima water release.

During the meeting held on the sidelines of a North Atlantic Treaty Organization summit in Lithuania in July, Yoon also asked that the discharge be stopped immediately if the concentration of radioactive material in the water exceeds standard levels and that Japan promptly inform South Korea.

Source: Yonhap News Agency

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Yonhap News Summary Date: 17-Aug-23

The following is the first summary of major stories moved by Yonhap News Agency on Thursday.

Yoon to depart for U.S. to attend summit with Biden, Kishida

SEOUL — President Yoon Suk Yeol is set to depart for the United States on Thursday to attend a trilateral summit with U.S. President Joe Biden and Japanese Prime Minister Fumio Kishida on ways to enhance security cooperation in the face of North Korea’s nuclear threat.

The summit will be held at the Camp David presidential retreat in Maryland on Friday, marking the first time the three countries’ leaders will meet for a stand-alone trilateral summit that’s not on the sidelines of a multilateral event.

(LEAD) Opposition leader Lee appears for prosecution questioning over corruption scandal

SEOUL — Opposition leader Lee Jae-myung appeared before prosecutors Thursday for questioning over suspicions surrounding a land development project in Seongnam, located just south of Seoul, during his previous term as the city’s mayor.

Lee of the main opposition Democratic Party is facing allegations that he facilitated business favors for a private developer in connection with a property development project in Seongnam’s Baekhyeon-dong district during his term as mayor in the mid-2010s.

Funeral ceremony held for Yoon’s late father

SEOUL — A funeral ceremony was held for President Yoon Suk Yeol’s late father on Thursday, with only close family members, the deceased’s former students and senior officials in attendance.

Yoon Ki-jung, an honorary professor at Seoul’s Yonsei University, died Tuesday at the age of 92.

Ground broken on nation’s 3rd-tallest skyscraper in Busan

BUSAN — Construction on the long-delayed Busan Lotte Tower began with a groundbreaking ceremony in the southeastern port city Thursday.

Lotte Shopping Co., the retail affiliate of Lotte Group, held the groundbreaking ceremony for the 67-story, 342.5-meter skyscraper to be built on the former site of Busan City Hall in the center of the city by 2026.

Police raid arms procurement agency over suspected corruption in Aegis destroyer project

SEOUL — Police on Thursday raided the Defense Acquisition Program Administration (DAPA), as part of their investigation into allegations of possible corruption in the process of selecting Hyundai Heavy Industries Co. as the preferred bidder for an indigenous Aegis-equipped destroyer development project in 2020.

The Korean National Police Agency sent investigators to the DAPA headquarters at the Gwacheon Government Complex, just south of Seoul, in the morning to search the DAPA department in charge of the Korea Destroyer Next Generation (KDDX) project to build the next-generation 6,000 ton-class destroyer.

Volunteer fighter gets suspended prison term for illegal entry into Ukraine

SEOUL — A South Korean volunteer fighter indicted for entering Ukraine in 2022 to fight against Russia’s invasion in violation of the passport law was given a suspended prison sentence by a court Thursday.

The Seoul Central District Court sentenced Rhee Keun, a Navy SEAL-turned-YouTuber, to a prison term of one and a half years, suspended for three years, on charges of passport law violation and a hit-and-run involving the injury of a motorcyclist.

S. Korea delivers relief supplies to Hawaii over wildfire damage

SEOUL — South Korea has provided Hawaii with food and other emergency supplies to help cope with a series of devastating wildfires that recently ravaged the island of Maui, Seoul’s foreign ministry said Thursday.

Lee Seo-young, South Korean consul general in Honolulu, expressed hopes for Hawaii’s speedy recovery as he delivered water, food, blankets, electric generators and other aid items to Lieutenant Governor Sylvia Luke on Wednesday (Hawaii time), it added.

Autumnal nighttime tours of Changdeok Palace to open next month

SEOUL — The autumn nighttime guided tours of the ancient Changdeok Palace, one of the most popular tourist attractions in Seoul, will begin next month, the cultural heritage authorities said Thursday.

“The Moonlight Tour at Changdeokgung Palace” will run from Sept. 7 through Oct. 22, two times a day from every Thursday to Sunday, according to the Cultural Heritage Administration and the Korea Cultural Heritage Foundation.

Disruptive students to be removed from classrooms

SEOUL — Students at the elementary to high school levels will be removed from their classrooms or have their mobile phones confiscated if they are disruptive during class, the education ministry said Thursday.

The new class policy will go into effect in the upcoming second semester under a new set of education rules aimed at shoring up teachers’ rights and authority, according to the ministry.

(LEAD) Kia launches face-lifted Sorento SUV in S. Korea

SEOUL — Kia Corp., South Korea’s second-biggest carmaker by sales, on Thursday launched the face-lifted Sorento in the domestic market to beef up its SUV lineup.

The upgraded Sorento comes with a 2.5-liter gasoline turbocharged, a 2.2-liter diesel, or a 1.6-liter turbocharged gasoline hybrid engine, the company said in a statement.

5th email bomb threat warns of blowing up Supreme Court: police

SEOUL — Police are looking into an email bomb threat targeting the Supreme Court and other locations but found no explosives so far, officials said Thursday, after a fifth such email was sent apparently from Japan.

The email, which was received just past midnight, claimed that “high-powered bombs with needles” had been planted at the Japanese Embassy, the Supreme Court and city halls across the country, and would go off from 3:34 p.m. Friday to 2:07 p.m. Saturday.

S. Korean sports organization holds int’l conference to celebrate 1988 Seoul Olympics

SEOUL — The Korean Alliance for Health, Physical Education, Recreation, and Dance (KAHPERD) announced Thursday it will host an academic conference this week to commemorate the 1988 Summer Olympic Games in Seoul.

The 35th International Sport Science Congress will open Thursday afternoon at Yongin University in Yongin, Gyeonggi Province, and will run through Friday.

(LEAD) S. Korea, Japan, US summit to move trilateral cooperation to ‘new level’: Kirby

WASHINGTON — The upcoming trilateral summit between the leaders of South Korea, Japan and the United States will take their countries’ three-way cooperation to a new level, a White House official said Wednesday.

John Kirby, National Security Council (NSC) coordinator for strategic communications, said the leaders will also focus on ways to institutionalize such cooperation among their countries.

Source: Yonhap News Agency

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(LEAD) Funeral ceremony held for Yoon’s late father

A funeral ceremony was held for President Yoon Suk Yeol’s late father on Thursday, with only close family members, the deceased’s former students and senior officials in attendance.

Yoon Ki-jung, an honorary professor at Seoul’s Yonsei University, died Tuesday at the age of 92.

He was known as an expert on studying economic inequality using statistical methods and dedicated his career to teaching applied statistics from 1973 to 1997.

The funeral was held at Seoul’s Severance Hospital for 30 minutes, starting at 8:30 a.m., with the attendance of around 20 family members, including Yoon and first lady Kim Keon Hee, the deceased’s former students, economists, senior presidential officials and leaders of the ruling People Power Party, according to the presidential office.

The funeral procession circled Yonsei University’s College of Commerce and Economics, where the late Yoon used to work, before heading for the burial site.

The deceased was buried in front of his family, relatives and students, and two books on economics — one that he authored and another that he translated — were dedicated as part of the ceremony during which the coffin was lowered into the grave, according to presidential spokesperson Lee Do-woon.

“I thank all those who offered their condolences over my father’s passing,” Yoon was quoted as saying.

The president is scheduled to depart for the United States later in the day to attend a trilateral summit with U.S. President Joe Biden and Japanese Prime Minister Fumio Kishida.

Source: Yonhap News Agency

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