Tag Archives: South Korea

South Korea’s SK Hynix is ​​close to reaching an agreement to supply car chips to Germany’s Bosch – media | Instant News

FILE PHOTOS: SK Hynix logo seen at its headquarters in Seongnam, South Korea, April 25, 2016. REUTERS / Kim Hong-Ji / File Photo

SEOUL (Reuters) – SK Hynix Inc, the world’s second-largest memory chip maker, is close to signing a long-term agreement to supply automotive memory chips to German auto supplier Robert Bosch GmbH, South Korean newspapers reported.

The two companies have been directly involved in talks for SK Hynix to supply Bosch with automatic memory chips for 10 years or more, Maeil Business Newspaper reported late Tuesday, citing unnamed industry sources. The report did not specify financial details.

SK Hynix declined to comment. Bosch was not immediately available for comment.

The South Korean company has memory chip supply partnerships with auto suppliers Continental and Hyundai Mobis, sources familiar with the matter said, declined to be identified because the agreement is confidential.

Companies globally are struggling to secure chip supplies due to an unprecedented shortage of semiconductors, forcing governments to introduce policies that support the local chip industry.

Reporting by Joyce Lee; Edited by Muralikumar Anantharaman


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Prime Minister Jacinda Arden’s government is in the spotlight for failing to mention Chinese interference | Instant News

Last week, 13 countries around the world voiced their concerns about China’s interference in the World Health Organization’s investigation into the origins of the COVID-19 pandemic.

The members of the Five Eyes intelligence alliance, which includes Australia, Canada, the UK and the US, all signed the joint declaration.

Almost everything. One Five Eyes Nation, New Zealand, declined to be named in the communique.

This has raised lingering concerns that Prime Minister Jacinda Ardern’s government is weaker against Beijing. It is even dubbed the “soft belly” of the Five Eyes.

Wellington may have witnessed a diplomatic and trade dispute between the two China and Australia and have decided they don’t want to end up in the same position. But as New Zealand knows, even light criticism can anger China.

NZ failed to follow China’s Five Eyes’ statement

“New Zealand has been criticized for being reluctant to join forces with other states and to speak of concerning issues of concern with China,” wrote University of Canterbury China specialist Professor Anne-Marie Brady in the magazine. Diplomat last year.

“It practices deliberate ambiguity in its Chinese policies, and so far, seems to have gotten away with it.”

But New Zealand’s efforts to find a win-win way to deal with Beijing have caused its political will to be questioned by its allies.

In January last year, the British newspaper the Financial time declared that New Zealand was “on the verge of survival as a member” of the Five Eyes and had a “recumbent” attitude toward China.

A piece of evidence supporting that view occurred this week when even WHO Director-General Tedros Adhanom Ghebreyesus called on China over its reluctance to provide WHO COVID-19 investigations with the raw data the scientists asked for.

That New Zealand doesn’t endorse the WHO, the Five Eyes, or the likes of Japan, South Korea and Israel in calling China China is shocking.

Ardern’s government said its reluctance to join the chorus disapproved because it had not fully read the report. That was despite everyone, including small Estonians, had enough time to study the contents.

“Our technical experts are analyzing the report,” said New Zealand Foreign Minister Nanaia Mahuta spokeswoman Australian.

“Since this is a scientific report, we wanted to make sure we understood science before commenting.”

RELATED: A chilling find in the disputed China Sea

Denial has happened before. In January, New Zealand failed to sign another official statement of the other Five Eyes condemned the arrests of pro-democracy politicians in Hong Kong.

Also in January, Trade Minister Kiwi Damien Cook said Australia should follow New Zealand and “Show respect” to China and “beware of words”.

The advice led former diplomat and Liberal MP Dave Sharma to say he “expects more from trans-Tasman solidarity”.

“It shows a lack of familiarity with basic facts that I would not expect from close friends and partners like New Zealand,” he told SMH.

A lot of eyebrows have been raised about New Zealand’s handling of its relationship with China.

Unlike Australia, Australia has signed up to one aspect of Beijing’s Belt and Road Initiative. According to Financial time, Businessmen associated with the Chinese Communist Party are major donors to New Zealand’s main political party.

A New Zealand lawmaker recently admitted it teaching Chinese spies English to monitor other countries’ communications before emigrating. But he has denied passing information about his adoptive country back to Beijing, reports the Stuff website.

RELATED: Australian doctors reveal the WHO COVID report

NZ nicknamed Five Eyes ‘soft belly’

“Tiny New Zealand may seem like an odd target for Communist party infiltration, but the country appeals to Beijing as the soft belly of the Five Eyes,” wrote Jamil Anderlini in an opinion piece for Financial time last year.

The term “soft belly” haunts Mrs. Ardern. In 2018, the Canadian Government used it in official document to illustrate how China views New Zealand as a weak spot in security intelligence. It added that Beijing’s relationship with Wellington is a model for future Sino-Australian relations.

New Zealand exported $ 18 billion of product to China, double that of Australia.

“Perhaps fearing Beijing will respond with economic sanctions, Ms. Ardern has gone to great lengths to avoid mentioning the topic of Chinese political interference,” Anderlini added.

He only has to look across Tasman to see the trade pain China has inflicted on Australia after Canberra called for a WHO investigation, barred Chinese tech giant Huawei from sensitive infrastructure and continued to criticize Beijing’s human rights record.

In contrast, earlier this year, the free trade agreement between China and New Zealand was stepped up.

Funnel CCP Global Time praised Wellington, said it was “impartial” between the US and China and “has kept its own judgment on the main agenda regarding China”.

China’s constant call for western nations to take sides, which also has the useful side effect of undermining any impulse that may come.

Look for ‘safe ways’ to deal with China

Prof Brady said New Zealand was looking for a “safe way” to deal with China. But the country is actually more aggressive in fighting Beijing than ever before.

He dubbed it New Zealand’s “calm shift” from the previously adopted “blind eye”.

“New Zealand is … looking for a safe way to deal with China’s increasing political interference activity and aggressive foreign policy,” he said.

“The New Zealand government strictly avoids direct confrontation with China. Instead, the government is carefully managing a case-by-case recalibration of New Zealand-China relations, while claiming that any changes are ‘state agnostic’. “

In one piece Security, Prof Brady said New Zealand could learn from Australia’s “missteps” in China.

The danger for New Zealand, however, is that there may not be a safe way to manage China and its tiny glass jaws. Any criticism of Beijing is met with hostility.

In December, Ardern supported – in a somewhat muted manner – Prime Minister Scott Morrison’s disillusionment with a tweet from Beijing apparatchik depicting a digger slit the throat of an Afghan child.

That Global Time pointed the thorns towards Wellington. Maybe a warning shot.

“Kiwis bleat like Australian sheep but don’t condemn the killing in Afghanistan,” said the newspaper, who argued that Arden’s comments were something he “had to say” to safeguard trans-Tasman ties.

NZ is not silent on China, but perhaps more silent

New Zealand certainly doesn’t stay idle in China. It has expressed disappointment over the demise of Hong Kong’s already limited democracy. It has also barred Huawei from sensitive infrastructure. Last week, the foreign ministers of Australia and New Zealand said they had “grave concerns” about the treatment of the Uighurs.

Ms Ardern said New Zealand laws prevented sanctions from being imposed on China. That escape route means China is not levying sanctions in return, which is the case for the US, UK and Canada. Despite this, Beijing still rebukes him for meddling in the country’s “internal affairs”.

It’s a difficult balancing act for Ms. Ardern and the New Zealand government.

The aim might be not to poke the dragon. But as its allies routinely resent Beijing’s anger, there may be pressure for Wellington to give up its “calm change” and more firmly support Australia and the rest of the world’s democracies against China.


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Exclusive: Tencent’s Timi game studio made $ 10 billion in 2020, sources said | Instant News

(Reuters) – Chinese tech giant Tencent’s Timi Studios, maker of the popular video games Honor of Kings and Call of Duty Mobile, generated $ 10 billion in revenue last year, two people with first-hand knowledge of the matter told Reuters.

FILE PHOTOS: The Tencent logo is seen on its booth at the 2020 China International Exhibition for Trade in Services (CIFTIS) in Beijing, China September 4, 2020. REUTERS / Tingshu Wang /

The $ 10 billion in cash will make Timi the world’s largest developer, said the source, who is suspected by many industry observers.

It also provides a solid foundation for its ambition to go beyond mobile gaming and compete head-to-head with global heavyweights developing expensive “AAA” titles on platforms such as desktop computers, Sony’s PlayStation, Nintendo Switch, and Microsoft’s Xbox.

In a recruitment notice last month, a Timi engineer wrote that the company aims to create a new AAA game that resembles the virtual community from the movie Ready Player One, and will “compete head-to-head against the mighty powers from Japan, Korea, Europe and the US”

Tencent is building studios overseas, including one for Timi and one for Lightspeed and Quantum, both in Los Angeles, with the aim of creating content with original intellectual property that has global appeal.

Tencent ultimately aims to raise half of its gaming revenue from abroad, from 23 percent in the fourth quarter of 2019, the most recent figure available.

Many major studios turn to Tencent for support for converting their “hardcore” desktop or console games to mobile. Such games feature long, storytelling sessions or in-depth battles, with some including multiplayer online role-playing games or online battle arenas.

Last week, Tencent reported 156.1 billion yuan ($ 23.79 billion) in overall online gaming revenue for 2020 but did not break down revenue for individual studios, which run independently and compete with each other.

Timi’s results account for 40% of gaming revenue, the two men said.

Of Tencent’s remaining gaming revenue last year, studios Lightspeed and Quantum, developer of PUBG Mobile, another gross-earning game, accounted for 29%, people said, while 26% was the result of publishing for other developers. Aurora Studios Group, boosted by the Moonlight Blade Mobile title, contributed 3%, said the source.

The source declined to be identified because the information was not public.

Tencent did not immediately reply to a Reuters request for comment.

Tencent, which has benefited from a surge in gamer payments, said last week online gaming revenue rose 29% to 39.1 billion yuan in the fourth quarter.

($ 1 = 6.5619 Chinese yuan renminbi)

Reporting by Pei Li and Tony Munroe. Edited by Gerry Doyle


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Australian securities regulators search the offices of coal miners TerraCom | Instant News

MELBOURNE, March 29 (Reuters) – Australian securities regulators ransacked coal miners TerraCom Ltd on Monday with assistance from Queensland state police, according to a report in the Australian Financial Review.

The investigation came after regulators confirmed it was investigating the ALS testing laboratory, whose internal review last year found that about half of the certificates awarded for export coal samples over the past decade had been altered to improve demonstrated quality.

The laboratory review made no mention of associates, but began after the unfair dismissal of TerraCom – which bought the Blair Athol coal mine in 2017 from Rio Tinto – that the miner had worked with ALS to fabricate export documentation.

TerraCom, which sells coal to Japan, Korea and China, has denied the allegations that have arisen in the case. Deputy Chairman Craig Ransley told Reuters that TerraCom will continue to work with authorities on industry-wide investigations.

Australia is the world’s largest coal exporter and ALS is one of the largest coal testers. “I can confirm that a warrant was issued today on behalf of ASIC, with the assistance of the Queensland Police,” said a spokesman for the Australian Securities and Investments Commission (ASIC), on condition of anonymity TerraCom.

Queensland Police, asked if Blair Athol TerraCom’s operation had been searched, said ASIC was leading the matter and referred any questions to regulators.

Last week, local media reported that ASIC Commissioner Cathie Armor told a Senate forecast hearing that she was “well aware” of allegations that the ALS lab had improved coal quality results on export certificates.

Armor did not provide further information due to ASIC’s policy of not commenting on issues being investigated, according to a report by the Australian Associated Press. South Korean electricity provider South-East Power banned ALS from certifying its coal tender last year. (Reporting by Melanie Burton; Editing by Tom Hogue)


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France relaxes COVID-19 restrictions on international travel | Instant News

PARIS (Reuters) – France will ease some COVID-19 restrictions on international travel outside Europe, the Foreign Ministry said Thursday, which said in a statement that travelers to or from Australia, New Zealand, South Korea, Israel, Japan and Great Britain and Singapore would no longer need a compelling reason to travel. French Tourism Minister Jean-Baptiste Lemoyne said the easing was due to the improvement in the health situation in these countries. “The list includes Great Britain, as the British variant now circulates widely in France. All other restrictions, such as requiring a negative COVID-19 test less than 72 hours before travel, would remain in place,” a the ministry said, adding that a decree was to be issued on Friday. Lemoyne said that for other countries outside the European Union, the list of legitimate travel reasons would be expanded, especially to take into account family situations. r travel would be the fact that a person in a couple – both married or in a civil partnership – resides abroad for professional reasons; other legitimate reasons would be for families living abroad but having children attending school in France, couples with children abroad and in France, students taking an exam, as well as people returning to their home country. primary residence if it is in France. The ministry said in general it strongly recommends limiting international travel as much as possible. France announced stricter rules on travel from third countries on January 14 , report by Geert De Clercq and Matthieu Protard; Edited by Alex Richardson and Angus MacSwan.

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