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Korea Herald
28-05-2025
- Business
- Korea Herald
Biz sentiment improves for 3rd consecutive month in May: BOK survey
South Korea's business sentiment improved for the third straight month in May amid eased uncertainties at home and abroad, a central bank poll showed Wednesday. The Composite Business Sentiment Index for all industries came to 90.7 in May, up 2.8 points from the previous month, according to the survey by the Bank of Korea. It marked the first time since November that the index stayed above the long-term average of about 90. The CBSI among manufacturers climbed 1.6 points from a month earlier to 94.7 in May, and that among nonmanufacturers went up 3.6 points to 88.1. The index measures corporate prospects for business conditions. A reading below 100 means pessimists outnumber optimists. Business sentiment had deteriorated since late last year, hitting the lowest level in about 4 1/2 years of 85.3 in February, due mainly to former President Yoon Suk Yeol's declaration of martial law and uncertainties triggered by US President Donald Trump's new tariff scheme. Following the martial law imposition, Yoon was impeached in late December and formally removed from office in April, setting the stage for the presidential election scheduled to take place next Tuesday. Another key factor that led to the improvement in business sentiment was the US' announcement made in April to pause the imposition of reciprocal tariffs on trade partners, including a 25 percent duty on South Korean imports. Negotiations are under way between South Korea and the US on the tariff scheme, as the two sides have agreed to pursue a "July package" deal addressing trade and related issues, aiming to reach an agreement before July 8, when Trump's 90-day suspension of the tariffs is to expire. The outlook for May also added 3.2 points to 89.5, the survey showed. The poll, conducted earlier this month, involved 3,297 companies, including 1,852 manufacturing firms, the BOK said. (Yonhap)
Yahoo
29-03-2025
- Politics
- Yahoo
Marco Rubio: The U.S. is enhancing American security through Caribbean cooperation
When President Donald Trump came into office, he committed to ensuring our foreign policy aligned with our nation's interests. To realize his vision, we are putting our region, the Americas, first. We are strengthening ties with friends and partners in our own hemisphere, including in the Caribbean. My trip to Jamaica, Guyana and Suriname reaffirms the value of this strategy. The leaders of these countries, as well as the leaders of Barbados, Trinidad and Tobago and Haiti, understand the stakes and are willing to put in the hard work to do what's right. It's a unique relationship and one we've ignored for far too long. The U.S. and the Caribbean are bound by shared values, heritage, culture and community. Together, we are working to create a more secure region, addressing the illegal immigration crisis, taking down transnational criminal organizations that threaten our people and identifying opportunities to catalyze the Caribbean's tremendous economic potential by promoting private investments in energy. The people of the United States and the Caribbean recognize that our safety and security are intertwined. The Caribbean is often referred to as our 'third border.' As secretary of state, I oversee the implementation of the Caribbean Basin Security Initiative (CBSI). Alongside 13 Caribbean partners, CBSI helps disrupt illicit narcotics and arms trafficking and counters transnational criminal organizations that undermine the security of the United States. CBSI delivers tangible support and meaningful results. In Suriname, we are installing a modern immigration and customs system to more effectively screen travelers — a win for both of our countries. In Jamaica, we are working to dismantle 'lotto scamming' rings that defraud U.S. and Jamaican citizens out of over $1 billion per year and fuel violent crime on the island. In Trinidad and Tobago, we support the Caribbean region's Crime Gun Intelligence Unit, which partners with U.S. law enforcement agencies to disrupt illicit firearms trafficking that supplies transnational criminal organizations. Our collaboration is making the region safer, not only for those countries but also for the millions of U.S. tourists who visit the Caribbean. At the same time, the United States is helping to unleash the economic potential of the entire Caribbean basin. This is a historic moment in the Caribbean for energy security, where disproportionately high electricity and energy prices have long hampered growth. Guyana and Suriname are poised to see increased energy production in partnership with U.S. companies. I was honored to visit Guyana and meet with President Irfaan Ali as he works to enhance his own country's economic development, while helping bolster global energy security. Their development will create good jobs in the region helping to stem mass migration. It will also empower those nations to help their fellow Caribbean partners develop and grow in the years to come. During my visit, I also witnessed the unfinished projects and empty promises of the Chinese Communist Party. China wants to take the Caribbean's raw materials and resources while offering little in return. Beijing's Belt and Road Initiative promises countries billions in investments but leaves them with shoddy construction, unsustainable debt and impoverished communities. Debt diplomacy has failed the region again and again. In 2021, for instance, the Matthews Ridge dam, built by a Chinese mining company, collapsed and flooded local communities in northwest Guyana. Roads connecting communities were washed away, leaving locals without access to basic supplies and medical care and children unable to get to school. Rather than fulfill its commitments to the people of Guyana and repair the dam, the Chinese company simply built a new dam in another location. Guyana's experience with Matthews Ridge dam is reflected around the world but especially in the region, with Belt and Road projects producing collapsing infrastructure, appalling environmental degradation, unsustainable debt burdens, and human rights abuses. China's regional partners also engage in these predatory practices. For years, Venezuela's tyrannical regime exploited the Caribbean's dependence on Venezuelan energy through the Petrocaribe scheme. A decade on, many countries still struggle to free themselves from it. Today, as the U.S. increases its role in the region, Nicolás Maduro's weakening, kleptocratic regime grows more erratic. Losing influence, Maduro turns to threats against Guyana's territorial integrity. This will not be tolerated. The Cuban regime, meanwhile, has spent decades perfecting its forced labor for foreign exchange scheme by coercing and then exporting medical professionals throughout our region under the guise of charity. During my visit, our regional partners in Jamaica, Guyana, and Trinidad and Tobago pledged to ensure Cuban medical professionals working in their countries are treated with respect for their human and internationally recognized labor rights. They joined Barbados, which also makes sure doctors working there are not abused and exploited. Suriname, to its profound credit, shares our concerns and has no Cuban medical program. We will continue to work with Caribbean countries to ensure the region's vital healthcare needs are met, without resorting to forced labor. This is a new era in U.S.-Caribbean relations. Our friendships have never been stronger. Our approach is simple and effective: We will work with our regional partners, strengthen critical supply chains, and build energy security. But we will no longer tolerate abuses and affronts against America. Together, we will stop the criminal organizations threatening our safety. And we will push back on foreign powers' intervention in our hemisphere. By working together with our Caribbean friends, we will make our hemisphere safer, stronger, and more prosperous today and for future generations. Marco Rubio is the U.S. secretary of state. Previously, Rubio served as a U.S. senator from Florida from 2011-2025.
Miami Herald
28-03-2025
- Politics
- Miami Herald
Marco Rubio: The U.S. is enhancing American security through Caribbean cooperation
When President Donald Trump came into office, he committed to ensuring our foreign policy aligned with our nation's interests. To realize his vision, we are putting our region, the Americas, first. We are strengthening ties with friends and partners in our own hemisphere, including in the Caribbean. My trip to Jamaica, Guyana and Suriname reaffirms the value of this strategy. The leaders of these countries, as well as the leaders of Barbados, Trinidad and Tobago and Haiti, understand the stakes and are willing to put in the hard work to do what's right. It's a unique relationship and one we've ignored for far too long. The U.S. and the Caribbean are bound by shared values, heritage, culture and community. Together, we are working to create a more secure region, addressing the illegal immigration crisis, taking down transnational criminal organizations that threaten our people and identifying opportunities to catalyze the Caribbean's tremendous economic potential by promoting private investments in energy. The people of the United States and the Caribbean recognize that our safety and security are intertwined. The Caribbean is often referred to as our 'third border.' As secretary of state, I oversee the implementation of the Caribbean Basin Security Initiative (CBSI). Alongside 13 Caribbean partners, CBSI helps disrupt illicit narcotics and arms trafficking and counters transnational criminal organizations that undermine the security of the United States. CBSI delivers tangible support and meaningful results. In Suriname, we are installing a modern immigration and customs system to more effectively screen travelers — a win for both of our countries. In Jamaica, we are working to dismantle 'lotto scamming' rings that defraud U.S. and Jamaican citizens out of over $1 billion per year and fuel violent crime on the island. In Trinidad and Tobago, we support the Caribbean region's Crime Gun Intelligence Unit, which partners with U.S. law enforcement agencies to disrupt illicit firearms trafficking that supplies transnational criminal organizations. Our collaboration is making the region safer, not only for those countries but also for the millions of U.S. tourists who visit the Caribbean. At the same time, the United States is helping to unleash the economic potential of the entire Caribbean basin. This is a historic moment in the Caribbean for energy security, where disproportionately high electricity and energy prices have long hampered growth. Guyana and Suriname are poised to see increased energy production in partnership with U.S. companies. I was honored to visit Guyana and meet with President Irfaan Ali as he works to enhance his own country's economic development, while helping bolster global energy security. Their development will create good jobs in the region helping to stem mass migration. It will also empower those nations to help their fellow Caribbean partners develop and grow in the years to come. During my visit, I also witnessed the unfinished projects and empty promises of the Chinese Communist Party. China wants to take the Caribbean's raw materials and resources while offering little in return. Beijing's Belt and Road Initiative promises countries billions in investments but leaves them with shoddy construction, unsustainable debt and impoverished communities. Debt diplomacy has failed the region again and again. In 2021, for instance, the Matthews Ridge dam, built by a Chinese mining company, collapsed and flooded local communities in northwest Guyana. Roads connecting communities were washed away, leaving locals without access to basic supplies and medical care and children unable to get to school. Rather than fulfill its commitments to the people of Guyana and repair the dam, the Chinese company simply built a new dam in another location. Guyana's experience with Matthews Ridge dam is reflected around the world but especially in the region, with Belt and Road projects producing collapsing infrastructure, appalling environmental degradation, unsustainable debt burdens, and human rights abuses. China's regional partners also engage in these predatory practices. For years, Venezuela's tyrannical regime exploited the Caribbean's dependence on Venezuelan energy through the Petrocaribe scheme. A decade on, many countries still struggle to free themselves from it. Today, as the U.S. increases its role in the region, Nicolás Maduro's weakening, kleptocratic regime grows more erratic. Losing influence, Maduro turns to threats against Guyana's territorial integrity. This will not be tolerated. The Cuban regime, meanwhile, has spent decades perfecting its forced labor for foreign exchange scheme by coercing and then exporting medical professionals throughout our region under the guise of charity. During my visit, our regional partners in Jamaica, Guyana, and Trinidad and Tobago pledged to ensure Cuban medical professionals working in their countries are treated with respect for their human and internationally recognized labor rights. They joined Barbados, which also makes sure doctors working there are not abused and exploited. Suriname, to its profound credit, shares our concerns and has no Cuban medical program. We will continue to work with Caribbean countries to ensure the region's vital healthcare needs are met, without resorting to forced labor. This is a new era in U.S.-Caribbean relations. Our friendships have never been stronger. Our approach is simple and effective: We will work with our regional partners, strengthen critical supply chains, and build energy security. But we will no longer tolerate abuses and affronts against America. Together, we will stop the criminal organizations threatening our safety. And we will push back on foreign powers' intervention in our hemisphere. By working together with our Caribbean friends, we will make our hemisphere safer, stronger, and more prosperous today and for future generations. Marco Rubio is the U.S. secretary of state. Previously, Rubio served as a U.S. senator from Florida from 2011-2025.
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Miami Herald
24-03-2025
- Business
- Miami Herald
Rubio's visit to Caribbean countries is an opportunity to advance a positive US agenda
At a moment of widespread concern about U.S. policy in the Western Hemisphere, Secretary of State Marco Rubio's visit to the Caribbean this week provides an opportunity to develop an affirmative agenda with a region vital to U.S. national interests. The Caribbean — sometimes referred to as the 'third border' of the United States — is inextricably linked to the U.S. Robust and respectful engagement could deepen counter-narcotics cooperation, counter Chinese influence, open a much-needed dialogue on Haiti and bolster U.S. energy security. While policymakers often disregard the Caribbean as little more than a sun-soaked getaway for tourists, our shared security concerns with the region make cooperation essential. The Caribbean is a major hub for drug trafficking due to its proximity to key shipping routes. The United Nations has warned that rising cocaine seizures in the region have been accompanied by a surge in homicides, largely driven by intensifying competition among transnational criminal gangs. Since 2009, U.S. leaders have backed the Caribbean Basin Security Initiative (CBSI), which by late 2024, provided over $942 million in aid. Now, sweeping cuts threaten this lifeline. The Trump administration and Congress should sustain investment to curb violence and illegal arms flows. When it comes to security, there is no more serious situation in the Caribbean than the crisis in Haiti. Caribbean leaders have played a critical leadership role in Haiti, and Rubio should listen to his colleagues from the region. During his visit to the Dominican Republic last month, Rubio stated that U.S. assistance to Haiti in support of the Kenyan-led Multinational Security Support mission would continue amid President Trump's foreign aid freeze. While promises of exceptions have been made, U.S. partners are discovering that these pledges have not been realized. This week's visit will provide an important opportunity for clear communication on U.S. support to resolve the crisis in Haiti. For the U.S., China's deepening engagement in the Caribbean also underscores the need for sustained and credible U.S. partnerships that offer viable alternatives. In addition to an increased diplomatic presence, China has built major infrastructure projects across the region. In response, the U.S. should increase investment in infrastructure and digital connectivity while expanding trade and supporting regional integration, all of which will reduce the region's dependence on China. While the U. S. has a diplomatic presence in many of the major Caribbean nations, it is noticeably absent in the eastern Caribbean, including in St. Kitts and Nevis, St. Lucia and St. Vincent and the Grenadines, which are among the diminishing number of nations in the world which recognize Taiwan over China. Rubio should continue the process initiated during the Biden administration — and modeled after a successful effort in the Pacific Island nations — to establish at least two new embassies in the eastern Caribbean. The Caribbean also holds immense energy potential that is vital to both regional and U.S. security. Rubio's reported stops in Jamaica, Guyana and Suriname highlight the region's growing significance, as both countries have made massive offshore oil discoveries. Guyana is now a leading oil producer, with Suriname expected to follow soon. Rubio will also meet with the prime minister of Trinidad and Tobago, a longstanding U.S. partner. At a time of increased global instability, deepening partnerships with Caribbean nations offer a strategic opportunity to support a resilient, sustainable energy future. This year, 2025, is an opportune year for the U.S. to strengthen engagement with the Caribbean, with the Summit of the Americas — the tenth gathering of heads of state from the Western Hemisphere — set for December in the Dominican Republic. The Trump administration should seize this moment to make this the 'Year of the Caribbean' — not through foreign aid cuts or punitive measures, but by advancing a robust, positive agenda that enhances U.S. security. Eric Jacobstein is a senior fellow at the Inter-American Dialogue. He served as deputy assistant secretary of State for Western Hemisphere Affairs during the Biden administration. Rebecca Bill Chavez is president and CEO of the Inter-American Dialogue. She served as deputy assistant secretary of Defense for Western Hemisphere Affairs during the Obama administration.
Korea Herald
21-02-2025
- Business
- Korea Herald
Biz sentiment at 4-yr low in Feb. amid weak momentum: BOK survey
South Korea's business sentiment fell to the lowest in over four years this month due mainly to weak domestic demand and economic uncertainties, a central bank poll showed Friday. The Composite Business Sentiment Index in all industries for February came to 85.3, down 0.6 point from the previous month, according to the survey by the Bank of Korea. It marked the lowest level since September 2020, when the index came to 83 amid the COVID-19 pandemic. The index has been on a constant decline since November, with the sentiment worsening markedly after Yoon declared a shocking, albeit short-lived, martial law on Dec. 3, which led to his impeachment and arrest. The outlook for March, however, rose 2.6 points to 88. The index measures corporate prospects for business conditions. A reading below 100 means pessimists outnumber optimists. The CBSI among manufacturers climbed 1.1 points from a month earlier to 90.1 in February, but that among nonmanufacturers lost 1.9 points to 81.7. Nonmanufacturers cited weak domestic demand, economic uncertainties and rising labor costs as major reasons for their view, according to the poll. The economic sentiment index, or ESI, which reflects sentiment among both consumers and businesses, rose 3.5 points to 90.2. It marked the sharpest gain since June 2019, the data showed. "Auto and several other industries have reported export growth, but domestic demand remains weak, and the construction sector has suffered difficulties," a BOK official told reporters. The central bank earlier forecast the South Korean economy to expand 1.9 percent in 2025, slowing from last year's 2.2 percent expansion. But the 2025 projection is widely expected to be lowered to around 1.6 percent, given sagging consumption and investment, political instability and uncertainties stemming from the Donald Trump administration's new trade and economic policies. (Yonhap)
