Category: General

Bangkok, Former Deputy Prime Minister Somkid warns “Trump Height” of fears of a trade war. between world powers Accepting that political problems are dragging down the Thai economy

Mr. Somkid Jatusripitak former deputy prime minister Gave a special speech at the seminar “Breaking the Economy in the Year of the Big Snake, inviting you to create a sustainable Thailand” on the topic of “Following the Pulse of Thailand” organized by the Thammasat Economics Association on global geopolitical problems. Very important in modern times Trade wars in each region are still intense. Both the Russian-Ukrainian war Middle East violence Problems affecting freight transport Foreign factors Both Taiwan elections It is one of the issues that will shake up China. What is interesting to watch is that politics in the United States is preparing for the election. “Trump” may come back again. Implementation of economic policy May affect Thai exports from the obstacle of setting up a tax wall trade barriers of China and the United
States Therefore, the world must be careful of “Trump Height” as there is a risk that there may be more problems with China. From now on, Thailand may not be able to talk on both sides. It may force Thailand to choose a path. Talk more with one side or the other.

Although the economies of the United States, China, and India are improving It is seen that the world economy will improve accordingly. But the situation is not the same as expected. The World Bank and IMF adjust world GDP twice a year, making the future more difficult to predict. Because of the fluctuation of various factors The business sector must prepare itself. Because there are starting to be signals Growing lower every time If the database every 5 years is taken into consideration, it is seen that this year ’67 will be the weakest year. IMF estimates world GDP Expanded 3.1 percent despite seeing that the United States is growing. but has slowed down It’s still good that it’s not violent. This year, it is expected that the Fed may cut interest
rates further. To take care of US inflation

For China, there are serious economic problems. If the Chinese stock market disappears by 30 percent and new graduates have no jobs, “Xi Jinping” must be dedicated to pushing for GDP growth of 4.5 percent. As for Japan, the stock market is starting to come back. Because it aims to develop many aspects If you look at the surface Therefore, it is seen that the world economy should be good as well. India’s economy is growing at an impressive rate, with half the population under 25 years of age. The young people are very well educated. Consumers begin to have good purchasing power. Indians amend many aspects of the law. Very high economic development ASEAN’s opportunities therefore have high potential. But when an opportunity arises, Thailand will use the opportunity to be

As for the Thai economy, it is accepted that the economy is starting to weaken. Because Thailand is still moving forward very slowly. while neighboring countries Grow by leaps and bounds Develop the
industry of the future The stock market moved up all the time. Indonesia became an economic powerhouse. Malaysia quickly focused on economic policy. It is considered that all ASEAN countries are adapting very quickly. The government must make Thailand attractive to foreigners. Therefore, Thailand must adhere to the policy. China’s Silk Road (New Silk Road Economic Belt) because China still uses Thailand as a benefit. Connect trade to the outside

Thailand has entered an era of low economic growth. Therefore, we must look at Thailand’s fundamental factors. that have the potential to compete, such as the digital economy or AI, the industry of the future The use of technology must be spread to every province. Thailand is beginning to enter an aging society. The birth rate is very low. The market for the elderly therefore has an opportunity. Thailand still faces the problem of PM 2.5 dust, which is considered to affect many parts. Both tourism and economic sectors admit that the Thai economy is a problem. It come
s from political problems, dividing colors, dividing camps, aiming to seize the vote base in every form. The government must push for long-term policies. Although there are some short-term measures When Thailand has to develop its long-term structure, it is concerned about pushing for the EEC area. that has not been taken care of Therefore, foreign investors are not interested. If it’s like this Landbridge project There may be a problem.

‘Managing the current economy must adhere to the principles of justice, good governance, transparency, confidence, trust, political problems. admit that the economy is in recession They all come from these things. Thailand is moving towards a point of risk. Because if GDP in 2023 expands by 1.8 percent, we’ll have to prepare some ice for our heads. Therefore, we must prepare to deal with the problem of low growth. Therefore, we must focus on long-term infrastructure. to build investor confidence,’ Mr. Somkid said.

Source: Thai News Agency

Rival parties once again failed to reach an agreement Thursday on a bill that would grant small businesses an additional two-year grace period from the workplace safety law penalizing employers for serious industrial accidents.

The main opposition Democratic Party (DP), which holds a majority in the National Assembly, rejected the ruling People Power Party’s (PPP) proposal to postpone the implementation of the law for another two years and to establish a government agency on industrial safety two years later as a condition.

The expanded application of the Serious Accidents Punishment Act for companies with fewer than 50 employees, which began last Saturday, will proceed as planned. Under the act, company owners or CEOs may face a minimum of one year in prison or fines up to 1 billion won (US$749,000) in cases of fatal on-duty disasters caused by inadequate workplace safety measures.

“The DP has decided to reject the government and the ruling party’s proposal,” Rep. Hong Ihk-pyo, the DP’s floor leader, tol
d reporters after a party meeting, emphasizing that the party has focused on the basic principle of prioritizing workers’ safety.

Expectations had been high that the revised bill could possibly pass through a scheduled plenary meeting of the National Assembly later in the day, amid rising concerns that the penalty could possibly strain smaller firms.

President Yoon Suk Yeol criticized the opposition party’s refusal to extend the grace period for small businesses.

“The DP refused to extend (the law’s grace period) to earn votes from its supporters, neglecting people’s livelihoods,” Yoon was quoted as saying by presidential spokesperson Kim Soo-kyung.

Yoon called on related agencies to come up with measures to minimize the impact from the work safety law’s implementation and avoid confusion in workplaces, Kim said.

The PPP criticized the DP’s move, saying the refusal would eventually hurt some 8 million workers and 830,000 small and medium-sized businesses affected by the law.

“I think the public will eve
ntually make a judgment on the DP’s cold-bloodedness and inhumanity,” PPP floor leader Yun Jae-ok said.

Despite the law’s intended purpose to guarantee workers’ safety, concerns have been raised as the number of on-duty disasters has not decreased since the law took effect and it lacks clarity in defining the criteria for punishment.

The PPP and owners of companies with fewer than 50 employees, constituting about 80 percent of all serious accidents, have demanded an additional grace period. They have cited a lack of preparation due to limited conditions, such as an economic downturn triggered by the COVID-19 pandemic, as well as the fact that the incrimination of an employer can eventually lead to business closure.

The DP and the labor circle, meanwhile, stated that the government has wasted the last two years without suggesting a detailed road map and failed to come up with measures to protect the workers.

Source: Yonhap News Agency

KG Mobility, formerly known as SsangYong Motor Co., said Thursday its January sales fell 16.4 percent from a year earlier due to weakened demand.

KG Mobility sold 9,172 vehicles last month, compared with 10,973 units sold a year earlier, the company said in a statement.

Domestic sales fell 47.2 percent on-year to 3762 units, but exports jumped 39.7 percent to 5,410 units.

KG Mobility said it saw strong demand for its Torres EVX and Rexton Sports models, especially from Turkey, Belgium, New Zealand and Hong Kong.

The company said it expects global sales of the Torres EVX and other key models to expand thanks to the company’s various global sales expansion initiatives.

Source: Yonhap News Agency

Defense Minister Shin Won-sik will embark on a series of visits to the United Arab Emirates, Saudi Arabia and Qatar on Thursday, his office said, in his first overseas trip since taking office last October.

On the first leg of his trip, Shin will visit the United Arab Emirates from Thursday to Saturday and hold a meeting with Mohammed bin Mubarak Al Mazrouei, the UAE’s minister of state for defense affairs.

As part of the visit, Shin will also visit the Akh unit — a South Korean military contingent in the UAE carrying out various missions, such as training UAE troops and protecting South Korean nationals in the region in case of emergencies.

Beginning Saturday, Shin will make a three-day visit to Saudi Arabia to attend the biennial World Defense Show to be held in Riyadh next week.

He will then visit Qatar next Monday for a two-day trip to hold talks with Qatar’s Minister of State for Defense Affairs Khalid bin Mohamed Al Attiyah, who doubles as the country’s deputy prime minister.

A ministry official
said Shin’s trip can be seen as a follow-up to President Yoon Suk Yeol’s visits to the three countries last year.

Yoon visited Saudi Arabia and Qatar in October and the UAE in January last year amid Seoul’s efforts to boost ties with the Middle East nations.

The official said the minister’s trip will focus on creating an institutional foundation for arms industry cooperation in a strategic and mid- to long-term perspective.

In January 2022, the UAE signed a deal to purchase South Korea’s Cheongung II medium-range surface-to-air missile system.

During the trip, Shin will also stress the need for cooperation in the international community to deter North Korea’s provocations, and to ensure peace and stability on the Korean Peninsula, the official added.

Source: Yonhap News Agency

South Korea’s exports moved up for the fourth consecutive month in January as exports of chips rose at the sharpest rate in around six years, data showed Thursday.

Outbound shipments advanced 18 percent on-year to US$54.6 billion last month, according to the data compiled by the Ministry of Trade, Industry and Energy.

Imports fell 7.8 percent on-year to $54.3 billion last month, resulting in a trade surplus of $300 million.

South Korea has been maintaining a monthly trade surplus since June 2023.

By sector, exports of chips shot up 56.2 percent on-year in January to $9.37 billion, growing for three consecutive months and marking the sharpest increase since the 64.9 percent rise tallied in December 2017.

The ministry attributed the recovery to the improved overseas prices after major memory chip producers scaled down their production.

The rising popularity of mobile devices featuring high-end memory chips, coupled with increasing demand for chips within the artificial intelligence sector, further bolste
red the overall growth, it added.

Outbound shipments of automobiles also expanded for 19 consecutive months by increasing 24.8 percent to hit $6.2 billion, the highest for any January.

The robust performance came on the back of the stronger demand for eco-friendly cars in the U.S. and Europe, according to the ministry.

Exports of machinery products rose 14.5 percent to $4.4 billion on the back of the demand from the U.S. and Southeast Asia. Outbound shipments of display products also rose 2.1 percent to $1.3 billion on the demand from the TV sector.

Exports of ships advanced 76 percent over the period to $2.5 billion, led by the container and liquefied natural gas carriers, the data also showed.

By destination, exports to China, the top trading partner for Asia’s No. 4 economy, rose 16.1 percent on-year to $10.7 billion. It was the first on-year growth since a 1.3 percent rise posted in May 2022.

The ministry said the recovery came as gains from chips and computers offset the weaker demand for petrochem
ical products in China.

Shipments to the United States also expanded for six consecutive months to $10.2 billion, up 26.9 percent on-year, led by cars, machinery and computers.

Those to Southeast Asia and Japan rose 5.8 percent and 10.6 percent, respectively.

Exports, a key economic growth engine for South Korea, rebounded in October after 13 months of an on-year decline.

“As we begin the year 2024, all four puzzle pieces of exports have aligned, namely posting a net growth in shipments to China, witnessing a rise in outbound shipments, achieving a trade surplus, and reaching a rebound in chip exports,” Industry Minister Ahn Duk-geun said in a statement.

Ahn added the government will continue to make efforts to put exports on the recovery track amid the prolonged global monetary tightening moves and the reshuffling global supply chain in the wake of the U.S.-China competition.

Source: Yonhap News Agency

Deepfakes pose real threat

Spread of explicit AI-generated fake images call for more proactive measures

Sexually explicit fake images of Taylor Swift, widely believed to have been generated by artificial intelligence tools, spread on social media last week at a dizzying pace, deeply alarming government officials, security experts, actors and many others.

The high-profile incident might be blamed on the widely expected side effects of generative AI, which is capable of creating fake photos using real images circulating on the internet. This creates an environment in which “deepfakes,” fake images or videos that appear to be real, are used to scam or threaten innocent victims.

Only a few years ago, cyber swindlers had to at least acquire basic editing techniques to generate even a basic-level fake image. Now, hyper-realistic deepfake photos can be easily created on popular AI-based image programs with a mix of relatively simple prompts.

The improved access to powerful AI-based image and video tools is now
gaining momentum and spreading even faster, aided by the network effect of the internet. Therefore, the speed at which deepfake images spread is also becoming faster and faster.

In contrast, authorities and social media companies remain slow to identify and crack down on illegally forged photos. It is telling that a single forged image of Swift was already viewed by so many users on X, formerly Twitter, before the account in question was suspended. Not to mention that her images quickly went beyond X to reach other platforms and were shared by social media users across the world.

Coincidentally, the Swift deepfake case has provided a timely lesson for Korean policymakers and politicians preparing to win seats in the forthcoming parliamentary election in April, as the country’s new law banning deepfakes in campaigns came into effect Monday.

In December, the National Assembly passed revisions to the Public Official Election Act which were designed to prohibit the use of deepfake images in election campaigns
starting from 90 days before election day.

Those who use deepfake videos, photos or even sound to increase their chances could face up to seven years in prison or a fine of up to 50 million won ($37,000).

However, the new regulation has a clear and inevitable limitation in preventing the generation and sharing of deepfake images and videos. Given that social media and local online communities are quick to share negative pictures with other members, authorities will likely find it extremely difficult to detect, track and remove fast-evolving faked images generated in violation of the related law.

It’s simple math. There are far too many online users experimenting with AI-based image-generation software. In contrast, only 62 officials have joined the newly launched AI monitoring team at the National Election Commission.

Doctored images spilling through the regulatory cracks could have a make-or-break impact on candidates, especially if a deepfake video of a rival announcing a piece of self-defeating fake ne
ws is disseminated toward the end of the campaign period.

Asking politicians and their aides not to engage in the creation and proliferation of deepfakes is not enough. Voters must also voluntarily stay away from fake content and report any problematic images or videos they may come across to the election watchdog. Major portal sites, which run large-scale online news sections, should set up an effective system to filter out deepfakes.

Aside from elections, politicians, celebrities and ordinary people are likely to be exposed to increasingly sophisticated deepfake threats in tandem with the galloping advances in generative AI technology. Today’s deepfakes might be regarded as shallow or unsophisticated in a couple of years. Policymakers are advised to brace for and take proactive measures against far more advanced faked images and videos in the near future, including moving toward the adoption of new AI solutions powerful enough to crush fake output.

Source: Yonhap News Agency

Chaengwattana Government Center, SME Bank joins hands with the Post Office to provide complete “logistics” services to serve customers who rent the area. Chaloem Phrakiat Government Center Document moving service and document storage space

Dr. Nalikotipak Sangsnit, Managing Director of Thanarak Asset Development Co., Ltd. (DPS) or DAD and Mr. Peera Udomkitsakul, Managing Director of Thailand Post Distribution Co., Ltd. (P.O.D. ) Join in signing a memorandum of understanding (MOU) to provide document moving and document storage services for a period of 1 year in order to cooperate in developing potential, efficiency, and cost savings. and provide integrated logistics services Within the area of ??the Government Complex Commemorating His Majesty the King’s 80th Birthday Anniversary, 5 December 2007, covering Building A, Building B, and Building C that will be gradually opened around April of this year. Including providing services to other customers of the Bank and those who are interested.

SME Bank hopes to
help reduce the burden of moving and document storage to customers and tenants of space in the Chaloem Phrakiat Government Center that is responsible for being more comfortable It also reinforces the one-stop service policy to provide convenience to SME Bank’s customers when Building C opens for service. It is believed that there will be tenants who wish to move their offices from Building A and Building B to Building C, including new tenants. Preparing to move from outside into the Chaloem Phrakiat Government Center. It also covers customers in the business of building development, construction, and management that the Bank is expanding as well.

This cooperation It also includes document storage services, which the Bank of Thailand has allocated 3,200 square meters of space on the 5th floor of Parking Building B for the Post Office to decorate and set up as a service center for storing documents and items. Including providing property and parcel moving services for tenants in the government center area. or
those who are interested in using other services This is considered another convenient service for rental agencies. In the meantime, it will study the possibility that after 1 year of entering into this agreement. to lead to joint investment or the rental of space to be operated between the Bank of Thailand and the Post Office in the future.

Mr. Peera Udomkitsakul, Managing Director of Post, said that the company provides complete logistics services, has expertise and is ready to manage all forms of transportation. In the past, postal distribution It has developed a GSP (Good Storage Practice) storage standard system and managed a modern GDP (Good Distribution Practices) delivery plan to meet the needs of customers in all areas throughout the country. Ready to provide confidence with a delivery management plan and on-time delivery, including good methods in the drug storage and delivery system (GSP/GDP) according to international standards. For cooperation in providing moving services and document storage In
the area of ??the Government Complex Commemorating His Majesty the King’s 80th Birthday Anniversary, 5 December 2007, this time is considered an important cooperation in which both agencies will be able to integrate resources together for maximum benefit. in warehouse management to reduce costs Very consistent with the current economic situation.

However, users of document storage services can be assured of their safety. Especially documents that are confidential information. Because this agreement covers safety. Both agencies will work together to maintain the confidentiality of user information that is declared to be confidential. It will include protection against abuse. Leakage of such confidential information There will be a report to users immediately if there is a violation or leak of information. which this secret information Even though the agreement (MOU) has ended, it is still effective.

Source: Thai News Agency

Bangkok, Stock Exchange Ordered the delisting of POMPUI shares, giving an opportunity to trade on 12-20 February before leaving the stock market. and asks shareholders and investors to use caution in trading securities.

The Stock Exchange of Thailand (SET) notified and ordered the delisting of securities of Kwang Phaisan Food Products Public Company Limited (POMPUI) from being a listed security according to Section 9(6) (C) (D) and Section 9(15) of the Stock Exchange of Thailand’s regulations regarding the delisting of listed securities B.E. 2542 due to budget The company’s financials show that shareholders’ equity is less than zero. and the auditor did not express an opinion on the financial statements for the years 2004-2006.

Even though the company has taken steps to bring shareholders’ equity back to a value greater than zero and the auditor can express an opinion on the financial statements, But the company was unable to qualify to resume trading according to the criteria and within the specified peri
od.

Therefore, the SET will allow trading of POMPUI securities for 7 business days before the effective date of delisting. That is, between 12-20 February 2024 under the following criteria and conditions.

1. POMPUI securities are purchased with a Cash Balance account, that is, the buyer must pay the entire amount before purchasing the securities.

2. Post the NC sign throughout the period that securities trading is open to warn investors to use caution in securities trading.

3. Not specifying the highest and lowest trading prices (Ceiling and Floor) of POMPUI securities on the first day of trading (Feb. 12, 2024).

4. The SET will not include POMPUI shares in the calculation of the stock price index (SET Index), and when the said period expires (which is February 20, 2024), POMPUI securities will be delisted from being a listed security with effect. From 21 February 2024 onwards

The SET asks shareholders and investors to use caution when trading securities. By studying the company’s information in detail,
such as financial status and operating results. Opinion of the auditor, major shareholder past news committee, etc., as well as other risks and factors Related too.

Source: Thai News Agency

A North Korean delegation may visit Moscow later this month and a Russian delegation plans to make a reciprocal trip to Pyongyang in March, a Russian lawmaker said Thursday.

The North Koreans are expected to visit the lower house of the Russian parliament on Feb. 13, and Russian lawmakers plan to reciprocate their visit the next month, Kazbek Taysaev, a deputy of the Communist Party, told Russia’s Sputnik news agency.

The delegations’ planned visits come as the two nations have been seeking to strengthen military cooperation following North Korean leader Kim Jong-un’s visit to Russia in September for a rare summit with President Vladimir Putin.

The United States has accused the North of supplying Russia with arms for use in its war against Ukraine in exchange for Russia’s technical assistance for Pyongyang’s weapons programs.

Last month, North Korea’s top diplomat, Choe Son-hui, visited Russia to meet her Russian counterpart, Sergei Lavrov, to discuss ways to expand bilateral ties and paid a courtesy cal
l on Putin.

Putin has expressed his willingness to visit Pyongyang at an early date, but the Kremlin said it is not likely to happen before the March presidential election.

Putin last visited North Korea in July 2000.

Source: Yonhap News Agency

Complaints filed against AliExpress, the e-commerce retail platform of China’s Alibaba Group, in South Korea quintupled in 2023 from a year earlier, a local consumers’ association said Thursday.

The number of complaints submitted to the Consumers Union of Korea (CUK) and the 1372 call center operated by the Korea Fair Trade Commission against AliExpress jumped five times to 465 last year from 93 a year ago, the CUK said in a statement.

In December alone, the number of complaints reached 150, about one-third of the annual figure.

Major complaints were about late or missed deliveries, misdeliveries, lack of products, no reflection of order cancellations following delivery delays, and lack of tracking information on the delivery path and time.

“The government needs to generate new rules to prevent damage to consumers from unfair market practices by multinational companies like AliExpress and respond to such damage,” a CUK official said.

In the January-September period, the country’s overall overseas direct
purchases through online platforms reached 4.79 trillion won. Purchases from China accounted for 2.22 trillion won, or 46 percent, the statement said.

Alibaba focuses on business-to-business transactions, while AliExpress is mainly a business-to-consumer marketplace.

Source: Yonhap News Agency