South Korean Plastics Giants Struggle as China Becomes a Rival
South Korean chemicals companies are racing to tap new markets after racking up hundreds of millions of dollars in losses in the face of a deluge of capacity from China, their biggest market.
Reliant on exports, firms including LG Chem Ltd. and Lotte Chemical Corp. are feeling the pinch as new plants in Asia's biggest economy exacerbate a global glut and squeeze margins. And it looks like more pain is set to come for the Korean petrochemicals sector, which saw exports drop more than 15% in 2023 before rebounding modestly last year.
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Yahoo
6 hours ago
- Yahoo
Trump's Next Deal for Rare Minerals Should Be with North Korea
The Trump administration's recent completion of a 'minerals for security' deal with Ukraine raises a question: Are there other countries where we could ink a similar agreement? However improbable it might seem, I believe North Korea, which is likely home to large rare earth mineral deposits, should be next. In addition to supplying the United States with critical minerals, a deal with North Korea could halt the growing threat of Pyongyang's nuclear-tipped missiles, reduce the danger of a regional conflict and put South and North Korea on a path to ending the Cold War on the Korean peninsula. Tensions have mounted in northeast Asia since President Donald Trump met North Korean dictator Kim Jong Un in 2019. Pyongyang's steady buildup of long-range nuclear-armed missiles has ignited a dangerous regional arms race that also threatens the continental United States. In fact, two respected experts believe North Korea is preparing for a fight. The danger of a second Korean war is real. The two Koreas came close to blows three times, in 2010, 2015 and 2017, a conflict that could also involve the United States and China. The next crisis will be even more dangerous as North Korea's defense alliance with Russia deepens and the Kremlin shares advanced military technology. A retired American general has warned that the countries in the region are one bad decision away from a nuclear war. Cooperation in developing North Korea's minerals could be the centerpiece of an agreement intended to head that danger off. The United States and North Korea could reach a deal to develop those resources, especially rare earth elements that have important applications in a wide range of modern technologies. The resulting income stream, which would benefit North Korea, could be funneled into a fund used to modernize its economy. None of this would be possible without taking steps to build a better relationship between Washington and Pyongyang. Those steps would include establishing diplomatic relations and lifting sanctions that prevent economic cooperation. But no agreement could get off the ground if tensions remain high. An economic deal would have to also address Washington's security concerns, the threat posed to its allies and the danger of a regional conflagration. At this point, denuclearization might be off the table, especially with the size of Kim's arsenal. However, an agreement would have to, at the very least, bring North Korea's WMD programs under control and start a process of confidence building between countries in northeast Asia. Trump is well-positioned to reignite his first-term bromance with Kim. A minerals-for-security deal could appeal to a transactional president who had made helping Pyongyang develop its economy an important part of his past engagement with Kim. Moreover, the global pursuit of rare earth minerals is a key objective for Trump and his administration. And to Trump's luck, the next president of South Korea is Lee Jae-myung, who has long been an advocate for warmer ties with North Korea. The timing is impeccable: Former President Suk Yeol, who was permanently removed from office in April after declaring martial law, was a North Korea hawk who likely would have been against an economic deal with Pyongyang. Lee could be a close partner to Trump in this deal, similarly to how former President Moon Jae-in helped organize the first summit between Kim and Trump. Moreover, South and North have cooperated in the past in developing Pyongyang's mineral resources. However, Lee will have a tough road to hoe, since relations between the two Koreas plummeted under his predecessor. North Korea also seems open for business. Estimates of the size of its rare earth mineral deposits vary but they appear to be substantial. Moreover, Kim understands that North Korea's rare and other significant mineral deposits play an important part in developing his country's economy; Pyongyang proposed a $2.5 billion deal with the Chinese in 2018 to exchange rare earth minerals for an investment in solar panels. Still, Kim may be in no mood to reengage Trump, despite their past summits — their two meetings in 2019 ended in failure — and North Korea's foreign policy tilt towards Russia and China, Washington's two main protagonists. However, if the U.S.-China trade war subsides and a positive Putin-Trump relationship grows, Moscow and Beijing could end up tacitly backing a deal. Lowering tensions in the region would also serve their interests. Kim's nuclear weapons arsenal will present a challenge for renewed talks. Since Washington's past priority, requiring him to give them up, is no longer feasible, the United States should emphasize reducing the danger of a nuclear war. One possible step which Kim had agreed to in the past would be a moratorium on nuclear and missile tests that would both lessen tensions and at least begin a process of denuclearization. Third, the devil will be in the detail of any new deal. Given Russia's close relationship with North Korea and its recent agreement with Pyongyang to jointly develop its mineral deposits, Moscow may need to be part of an agreement. So may China, which will have to prioritize reducing regional tensions since an agreement could undercut its domination of the global rare earth mineral market. South Korea will probably also want to participate in view of its strong interest in the future of the peninsula. While a multilateral deal may be necessary, it would certainly be more complicated to implement. Just as with the U.S.-Ukraine agreement, a U.S.-DPRK deal could cost hundreds of millions of dollars and take as long as 10 years of surveys and building infrastructure before Pyongyang's deposits can be exploited. Getting off the ground quicker may mean initially monetizing North Korea's more accessible deposits of iron, copper, gold and graphite, which are already being mined. Finally, while diplomats may negotiate a deal and leaders may clinch an agreement, implementation will prove challenging. The Trump administration will need to carefully prepare to move forward. That will require exercising leadership in building cooperation between all the participants to finance and supervise the agreement's implementation. Admittedly, a minerals-for-security deal with North Korea would be a bold but difficult undertaking. However, a bold initiative may be the only way out of an increasingly dangerous situation that could well result in a devastating nuclear war.
Yahoo
9 hours ago
- Yahoo
APOS Co-Founder Vivek Couto On Expectations For 2025 Event & How Asia Has Become A Key Battleground For The Future Of Entertainment
The latest iteration of the APOS conference features a who's-who of top-level film, TV and media players changing the course of the business in Asia. Here's just a small sample: DAZN co-founder James Rushton, Candle Media CEO Kevin Mayer, Foxtel boss Patrick Delany, Google APAC President Sanjay Gupta, iQiyi's Yang Xianghua and Kaichen Li, Netflix Korean content chief Don Kang, Nine Entertainment's Amanda Laing, Owl & Co. CEO founder Hernan Lopez and Jiyeon Song from Korean micro-drama platform TopReels. More from Deadline David Harbour On Feeling Relieved Over 'Stranger Things' Ending: "You're Having To Play A Lot Of The Same Beat" List Of Hollywood & Media Layoffs From Paramount To Warner Bros Discovery To CNN & More MTV Entertainment Studios, Comedy Central Executives Depart Amid Paramount Layoffs Add to that bosses from JioStar, Prime Video, NBCUniversal, Warner Bros Discovery, Sony Pictures Entertainment, Disney, Paramount, TikTok, TBS, BBC Studios and Banijay and it's clear why APOS has become a key fixture on the calendar. They've got plenty to discuss this year. APOS Executive Director and co-founder Vivek Couto is gearing up for his C-suite get-together in Bali with a global market facing a fast-changing outlook. Tech giants in Asia such as Google, Meta, Netflix and Amazon have been benefitting from growth in mobile screen, smart TV and fixed broadband usage across the continent, while traditional players have been rolling out new services and attempting to keep their linear businesses alive. 'At APOS 2025, we're focused on helping the industry navigate through disruption and opportunity,' says Couto, the veteran analyst who led the creation and is also Managing Director of Media Partners Asia. 'The next wave of monetization is here, and it's not just about more eyeballs, but better economics. We've designed a program that addresses the big shifts: the monetization of sport and entertainment, the role of AI across the stack, and how platforms are scaling in the big local markets that matter.' So what are the pressing live issues? Couto says one is that both the global giants and scaled local businesses need to find 'more robust' ways of making money and investing on content to seal their spots in the new digital ecosystem. 'Our focus is how that transition and monetization keeps pace, and who has the strategies to drive it,' he adds. APOS begins on June 24 with an invite-only CEO Forum, followed by a welcome reception at the Ayana Resort. Day 1 of the conference (June 25) is a big one for film and TV. An early highlight will be Google's Gupta discussing the power of storytelling in his talk on Asia's digital future. 'Google clearly has a view on the impact of AI on content creation and the growth of creators, who are monetizing through social platforms,' says Couto. 'It could also be a very big opportunity for long-form creators. Everyone is experimenting with AI.' We hear that on the same morning, Netflix's Kang, who is VP of Content, Korea, will discuss the performance of Squid Game Season 2, just days ahead of Season 3's launch. 'Netflix has a view on how it did, and Kang also wants to address [emerging perceptions] of a lull in the Korean creative economy. Korea is critical for Netflix, as they'll be investing around $700M there in next 3-4 years.' Ex-Disney boss Mayer will also address how to scale storytelling, while former Fox Networks boss Lopez will discuss the economics of streaming from the perspective of his consultancy Owl & Co. Prime Video India execs will talk about monetizing the explosion in streaming in India, while JioStar execs appear several times as their JioHotstar platform continues with its mission to be a service for a 'billion screens' across India. Couto says the shift towards short-form content, which has blown up in China and Korea through micro-drama platforms such as TopReels, is dictating how several companies are approaching content investments in 2025. Other points of discussion will be the strong theatrical growth in Indonesia, HBO Max's debut in Australia, the expanding addressable TV ads market in India and sports IP. Couto expects much talk to center on how companies should exploit the changing nature of entertainment consumption, giving the example of Disney, whose consumer products, parks and experiences business now generates over 50% of its operating profit on a global basis. This is one place where the traditional players might have the upper hand over the likes of Netflix and YouTube. 'The difference for players like Disney and Warner, in particular, is they've got a lot of revenues coming out of consumer products,' he says. 'It emphasizes the need to consider all revenue streams beyond screen entertainment.' In a similar vein, Couto notes that Google will address why YouTube is looking into subscription models, 'driven by the need to sustain growth beyond ad revenues.' Day 2 morning will be focused on AI – no surprises there, as the conversation moves towards digital companies such as Sandbox, StoryFit and TikTok. After lunch, there will be a session on U.S. content's impact in APAC, with Chris Taylor, MD APAC, Television Distribution, Networks & DTC at NBCUniversal; Amanda Laing, MD Streaming & Broadcast, Nine Entertainment; Adam Herr, SVP of Distribution, APAC at Sony Pictures Entertainment and Toshi Honda, COO at U-Next appearing together on a panel. Nicholas Simon, founder and CEO of The White Lotus Season 3 co-producer Indochina Productions will appear in a chat about Asia's creative economy going global, alongside Banijay Asia CEO Deepak Dhar and Disalada Disayanon from Kantana Group. Storytelling in the fast-growing theatrical market of Indonesia, the micro-drama boom, sports streaming and media investments will also be on the menu. The key focuses at APOS this year in terms of markets are India, where addressable TV ad growth is supercharging streaming revenues; Japan, which Couto says has 'really come of age as a $5.5B premium VOD market, led by SVOD and premium AVOD'; Indonesia, where the theatrical market has exploded; and Australia, which he predicts will see more big-scale M&A following DAZN's deal for paycaster Foxtel. Ulitmately, the entire event will be geared towards what comes next. 'As we go into this year's APOS, Netflix, Disney, Amazon and YouTube and scaled local platforms such as JioStar, U-Next and Foxtel are all generating profit and more and more cash,' says Couto. 'The key question is now about maintaining the balance between growing margins and investing to drive new growth.' 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Business Insider
17 hours ago
- Business Insider
Cameco price target raised to $78 from $65 at Goldman Sachs
Goldman Sachs analyst Brian Lee raised the firm's price target on Cameco (CCJ) to $78 from $65 and keeps a Buy rating on the shares. The firm cites Westinghouse, in which Cameco owns a stake, and Korea Electric Power Corporation and Korea Hydro & Nuclear Power Co. to have a mutually beneficial framework agreement that allows the use of Westinghouse technology to be used in Korean reactor deployments, noting that this deal should provide material upside to Westinghouse revenue and EBITDA, the analyst tells investors in a research note. Confident Investing Starts Here:
